Any opinions on using Uphold for buying XRP

[Guest]

Like to hear all comments, good or bad, in using Uphold as the exchange to buy and sell XRP.  Newbie here and my main objective is low transaction fees and ability to buy or sell large amounts of XRP immediately with no limits. I have applied for higher limits but K Y C kicks in big time.

I am using this at present and not sure if this is cheapest way to get it via fiat currency. There are fees for transferring to offline market, but minimal. Does anyone know of a better way as we speak right now, since this changes day to day.

 

[Guest]

Buying with bank transfer works on uphold well.

[Liagala]

3 hours ago, speakeasy said:

low transaction fees

If you're using a bank account to buy, it's a 1.4% transaction fee.  On the high end of reasonable.  Add another 2.9% or 3.9% on top of that if you're using a credit card. 

3 hours ago, speakeasy said:

ability to buy or sell large amounts of XRP immediately with no limits

Not even close.  You're limited to $500 USD/GBP/Euro/Fiat of Choice per day, unless you apply to have your limits raised and jump through several additional KYC/AML hoops.

On the topics of things you didn't mention, Uphold's other drawback is the long wait for your newly-purchased crypto to become available to move or trade.  It takes them 5-7 business days to fully credit your account.  The price is locked in the instant you click buy, but the assets aren't actually available for quite some time.  The benefits of Uphold include said reasonable transaction fees, a wide range of options (you can buy other fiat currencies as well as precious metals), excellent security, a very easy-to-use interface, and quick identity verification.  I love them, but I'm the type that buys a little on a regular basis and holds it long term.  They're perfect for me.  If you want to buy a lot and trade frequently, look elsewhere.

[peanut56]

     It was easy to for the KYC/AML to begin. It does take a while to recieve funds. At the same time they are insured, to how much I do not know, but if you are in the U.S. you don't have to send money across the ocean and fill out gov't forms. I like it. I hear good things about Kraken now. I tried with them, but had difficulty since my signitures did not match. I have had four seperate skull fractures, so my signatures are never the same. Anyway if you got good handwriting apparently they are pretty good. Just sign up now even if you are waiting for bull run so the company is not overrun and you can sort out any bugs. 

[lll_lll]

Do it. I use it all the time. Also, if your state is available, you can buy it thru Bittrex. Fees are cheaper in Bittrex and it is good for buying large amounts.

 

https://support.bittrex.com/hc/en-us/articles/360004441491-Fiat-US-Dollar-Trading-Deposits-and-Withdrawals

[TheXRPer]

My opinion I have the following order:

1. Bitstamp

2. Uphold

3. Bittrex (I can see this easily going to number 1 once they obtain a money service business license in my state)

[Matrix31]

Came to this section to ask the same question as OP. Thanks everyone for the input! 

[Guest]

Yes thanks to everyone for their input. I agree as to using credit or debit cards for high fees, but also appreciate the mentioned exchanges that were mentioned. For what I have bought and moved offline right now, the transaction fees were very low and I used bank withdraw.

[Mauricio]

On 10/16/2018 at 3:14 PM, Liagala said:

If you're using a bank account to buy, it's a 1.4% transaction fee.  On the high end of reasonable.  Add another 2.9% or 3.9% on top of that if you're using a credit card. 

I would add that, in addition to the higher fee that uphold would charge for a credit transaction, certain credit cards (my case with a major US credit card company) may treat this as a cash advance transaction which comes with a much higher interest rate, in my case they wanted to charge me 26.99% ?.  Glad I inquired with my credit card company before pulling the trigger.