Customers in the United Kingdom can now take advantage of the newest product from Uphold, a worldwide multi-asset digital trading platform, “a crypto-linked debit card.” These cards have reward rates of up to 4% in the $XRP cryptocurrency.
According to the press release, the card’s “US version” will be released next week and will be fully available in the United States by the end of this month. But the US Card will not work in the US states of New York, Louisiana, Colorado, California, and Nebraska.
Additionally, the Uphold Card does not charge foreign transaction fees which makes it ideal for travel and conducting business internationally.
Simon McLoughlin, CEO of Uphold, said:
We’re thrilled to offer the most competitive crypto rewards and zero non-sterling transaction fees for UK customers. Making crypto easy is what Uphold does best.
Uphold Rewards In XRP
The platform said rewards are accumulated in “GBP (UK) or USD (US)” and paid out as XRP. There will be no charges for domestic or international transactions. In addition, the Uphold app allows users to exchange their assets.
In particular, they mention that:
As a special launch promotion, the Uphold Card will pay out a 4% reward for all spending through March 2023, and 2% thereafter (subject to the Card’s Terms and Conditions).
Crypto credit and debit cards continue to grow from the first quarter of 2022, when Visa (V) customers made $2.5 billion worth of payments through crypto-linked cards.
Some cryptocurrency debit cards require users to stake platform-specific tokens for a set period of time to gain approval, while others reward successful applicants with cashback given in the form of coins, such as the Visa issued by Binance.
XRP Price Analysis
According to CoinMarketcap’s data, Ripple’s XRP, the most popular cryptocurrency, is currently trading at $0.3704. However, there has been a significant drop of 4% in the last 24 hours and 25.17% in the past seven days.
The weekly chart’s price movement reveals that since April 2021, the token’s price has fallen below a long-term downward resistance line. Before tumbling to a low of $0.28, it made several failed tries to climb again.
Nevertheless, the price of Ripple is expected to climb by 22% from now until the end of 2022, reaching $0.45. The cost will increase by 39% to $0.51 in 2023 from its present level.
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