Uphold adds BTC support to Vault
Uphold adds BTC support to Vault
Cryptocurrency exchange and Web3 platform Uphold has announced that Bitcoin will be hosted in the Vault self-custody wallet.
Vault originally launched with full XRP support, and with this latest update, users can now store, manage and trade their BTC and XRP on a single integrated platform, according to Uphold.
Vault provides users with a self-custody solution that allows them to generate a new key in the event of a loss. This significantly reduces the risk of irretrievable loss of funds.
The exchange points out that Vault makes managing digital assets much easier with its user-friendly interface, innovative security features and continuous improvements. Users of the wallet have sole control over their vault.
"As Bitcoin ownership expands, the need for enhanced security combined with trading convenience becomes more apparent. Vault is an easy-to-use self-custody solution that is completely independent of the presence of the Uphold app and offers a new key generation service to prevent asset loss," said Simon McLoughlin, CEO of Uphold.
The vault can be created using the Uphold mobile app, and the entire process takes only a few minutes.
The launch of the Bitcoin ETF, the impending halving of BTC, and the growing popularity of the largest cryptocurrency by market capitalization were the main factors that prompted Uphold to expand support for Vault assets.
Vault currently supports XRP and BTC, but more XRPL-based assets will be added later this year, as well as more L1 chains like XLM and XDC.
