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Upnup, a passive micro-investing app, has announced two major updates to its platform: out-of-app Bitcoin withdrawals and the addition of USD Coin (USDC) to its service offering. These updates are part of Upnup’s ongoing efforts to provide users with more flexibility and control over their investments.
The new feature allows users to withdraw their bitcoin savings from the Upnup platform and store them in a cryptocurrency wallet or convert them to South African Rands. This move aligns with the founding principle of Bitcoin that users should be able to interact with it without the need for a third-party intermediary.
By empowering users to take control of their crypto assets, Upnup hopes to foster greater financial security and promote the long-term growth of users’ investments.
According to Ricki Allardice, Upnup’s head of product, “taking custody and responsibility for your own crypto assets is a vital step in the process of improving your financial position and security over the long term.”
By encouraging users to learn how to self-custody their crypto assets, Upnup is positioning itself as a leader in the micro-investing space.
It has also added USDC micro-saving to its service offering. USDC is a stablecoin that is fully backed by United States dollar assets, meaning that the value of one USD Coin is always equal to the value of one dollar. This stablecoin is ideal for users who want to invest in cryptocurrency without being exposed to the volatility of other cryptocurrencies like Bitcoin.
To purchase Bitcoin and USDC, Upnup enables users to round up their transactional change or add a fixed amount to each transaction. This approach allows users to invest small amounts of money over time and watch their investments grow gradually.
Upnup is available for download on both the Google Play Store for Android and the Apple App Store for iOS. The app is user-friendly and easy to navigate, making it an ideal platform for novice investors who are looking to dip their toes into the world of cryptocurrency.
As more South Africans look to invest in cryptocurrency, experts have welcomed Upnup’s new updates. By offering users more flexibility and control over their investments, Upnup is positioning itself as a leader in the micro-investing space.