Uphold, the digital payment platform and exchange, has unveiled an instant withdrawal feature allowing users to transfer their XRP funds directly into their bank accounts. As other exchanges delisted XRP due to ongoing legal battles, Uphold remains committed to supporting the cryptocurrency.
The expansion of its services with the latest feature indicates its continued loyalty to the XRP community. Users can now conveniently withdraw XRP and other supported assets to their bank accounts with low fees and in real time.
Instant Bank Withdrawal for XRP
Uphold announced the launch of its instant bank withdrawal feature, enabling users to easily transfer their XRP funds directly to their bank accounts. Through this new service, users can initiate instant transfers using their debit cards, further streamlining the withdrawal process. Uphold emphasized that the feature is available 24/7, offering convenience and accessibility to its users.
Notably, the instant withdrawal feature is not limited to XRP; Uphold users can also utilize the service for withdrawing other supported cryptocurrencies, including Bitcoin (BTC).
Simplified Steps for Withdrawal
Uphold shared a YouTube link demonstrating how to use the instant withdrawal feature. To initiate the process, users need to access the latest version of the Uphold app and click the “Transact” button. They then select “Source,” followed by choosing “XRP” under the “My Account” menu.
⚡ Move your funds in a flash with our new Instant Withdrawal feature!
Our new feature allows you to instantly transfer funds directly to your bank account using your debit card 💳
✔️ Simple & Instant
✔️ Available 24×7
✔️ Low fees
— Uphold (@UpholdInc) September 12, 2023
The next step involves selecting the desired debit card under “Select Destination” in the “My Cards” category. If needed, users can add a new debit card to facilitate the withdrawal. After selecting the appropriate debit card, users input the dollar equivalent of the XRP they wish to withdraw. Finally, verifying and confirming the withdrawal completes the process, instantly depositing the dollar equivalent of the XRP funds into the chosen debit card.
It’s important to note that the instant withdrawal feature supports only cards marked with a flash symbol, and it is currently available for customers in the US and the UK.
Uphold clarified that it only displays domestic cards when users select a card from the “My Cards” section, ensuring consistency between the card issuer country and account address.
Uphold’s Unwavery Commitment to XRP
In contrast to other major exchanges that delisted XRP at the start of the SEC v. Ripple legal battle, Uphold has maintained its support for the cryptocurrency. Uphold made a decisive statement, announcing that it would not remove XRP from its offerings until a resolution is reached in the lawsuit.
This commitment has proved beneficial for Uphold, with the exchange witnessing a significant spike in net deposits as other platforms relisted XRP. Despite the risks associated with the decision, Uphold’s loyalty to XRP paid off, especially after the court ruled that XRP itself is not a security and that Ripple did not violate securities laws through its coin’s sale on digital exchanges.