Welcome Uphold Member Stories – a series of interviews and anecdotes with Uphold Members across the globe! Check out this story about managing a business from anywhere in the world, receiving cryptocurrency payments without the worry of volatility and navigating the digital nomad life!
This week, Uphold Member, “Nomad”, shared with us a few reasons why Uphold has become essential for his business and lifestyle:
“Cryptocurrency is all about trust, or specifically, replacing the need for trust with the laws of mathematics. Even so, trust is necessary – and when it is, you’d better make sure the party you need to trust is trustworthy.
I’m traveling today. 10,000 miles across the world to Sydney to visit the guys behind a cryptocurrency project I’ve been involved with for almost 4 years. Regular work doesn’t stop in the meantime, but my work hours are going to change and I’m only taking my laptop with me.
It’s times like this that I particularly value a service like Uphold. On the go, I can’t access the computer I use for my crypto wallets – while I’m not lax about security with any machine, I’m particularly careful with that one, and I won’t be taking it with me.
I also can’t control when people pay me, and right now the markets are particularly volatile. (For what it’s worth, I think we’re looking at a couple of false starts before we blow through $10k, but don’t trade based on that.) Waiting for the funds to arrive and then using an exchange to convert manually can be a nightmare since you never know when they’re going to turn up or how long confirmation will take. Not good when you’re heavily jetlagged and in a different timezone to the rest of your colleagues. It’s extremely handy to be able to give a client a bitcoin address and have the funds converted directly to GBP the moment they confirm.
It’s also important to have a platform you can trust. If you’re holding cryptocurrency, you need to do it with a client on a local machine or in a cold wallet. The next best thing is a fully insured, audited and regulated platform that ticks all the security and compliance boxes. If you’re moving money between currencies, as is sometimes useful, it needs to be in the safest possible place when it’s not actively being traded.
It’s the same for fiat: if you’re holding it on an account before cashing out once a month (it’s more efficient that way for me, and makes the accounting simpler), you need to know it’s actually going to be there when you hit the Withdraw button. Even today, there are too many exchanges that don’t seem to know what they’re doing. They work just fine – until they don’t. By then you’ve lost a month’s pay, or worse. Now that crypto is my livelihood, I can’t take any chances.
So I’ve got a few things to worry about over the next couple of weeks. Hitting all my connections, spending 24 hours in little more than a pressurized cigar tube, and some brutal jetlag – followed by the same again just when I’m starting to recover. Thanks to Uphold, one thing I don’t have to worry about is my finances.”
Nomad’s story is just one example of how our members across 184 countries use Uphold. There are so many ways that Uphold can expand your ability to easily and securely manage your digital portfolio across any of the 30+ currencies we support!
If you have an Uphold story, I would love to hear from you, send me an email at [email protected] or Tweet @UpholdInc with the #UpholdMemberStories! Not sure you want to share your name/identity with our readers? We understand and your stories can be anonymous just like Nomads!