Uphold has been integrated directly into the official Dash mobile wallet, allowing users to easily buy and use Dash within a single app.
Announced at the Money 20/20 conference, cryptocurrency brokerage service Uphold has been directly added to the official Dash mobile wallet. This allows users to sign up for an Uphold account, login on the Dash wallet, and easily buy or sell Dash with bank transfer or credit card right within the wallet, making buying Dash for a new or repeat user very streamlined. According to Uphold’s Chief Revenue Officer Robin O’Connell, this integration will impact Dash’s focus as a usable currency for real-world purchases and applications:
“What we like about Dash is its commitment to driving adoption across the Globe with more and more instances of real world use cases involving Dash payments. Uphold’s integration with the Dash Wallet helps increase Dash usability. Now Dash users will have more ways to add funds to the Dash wallet with Uphold which will in turn make it easier to spend with Dash.”
The integration has already been completed with the Android version of the wallet’s newest update, with addition to the iPhone wallet to be completed soon.
The entire Dash experience in one app will significantly cut down on friction
The addition of Uphold promises to reduce friction for new users attempting to get started with Dash, as well as recurring users who which to acquire more in order to keep using. Previously, a new potential user, in addition to installing a Dash wallet, had to install and begin using a completely separate service in order to acquire Dash, as well as figure out how to transfer between the two apps. Now, a single app serves for the entire process. According to Dash Core CEO Ryan Taylor, this integration is an important step towards wide adoption:
“Uphold has been a tremendous partner for us, providing users with a streamlined option for acquiring Dash. With this wallet integration, users can acquire and use Dash easier than ever. Our goal of achieving widespread adoption can only be made possible by making the user experience as easy and intuitive as possible, and Uphold continues to be an important partner in making the Dash experience one that can be easily accessed by anyone.”
At time of writing Uphold charges a 1.25% conversion fee to buy Dash, the most favorable rate for cryptocurrency after Bitcoin, and a $3 withdrawal fee to move funds off of the platform.
Virtually any Dash use case now has the customer side easily solved
The addition of Uphold to the main mobile Dash wallets solves a crucial first step in most commercial use cases for Dash. A successful business application must be of value to both the merchant and customer in order to be profitable, and since Dash’s use as a currency is not yet widespread, both ends traditionally need a way of buying or selling Dash.
With a brokerage service built into the main wallet, the customer onboarding portion is solved at a relatively low rate, leaving only the merchant side to be resolved. This significantly reduces the challenges of building businesses and use cases around Dash, which may lead to a noticeable uptick in adoption.