Uphold Launches Trailing Stop Order for Crypto – Not Offered By Any Other Major US Trading Platform
Maximizes Potential for Upside While Protecting From Downside via Automated Sell Order Set By Customer
SAN FRANCISCO, June 6, 2023 /PRNewswire/ — Today, Uphold, the Web3 financial platform, becomes the only centralized crypto trading venue in the United States to offer Trailing Stop orders for customers.
Uphold becomes the only centralized crypto trading venue in the United States to offer Trailing Stop orders.
Unlike a simple Stop Order that sells based on a price fall against the user’s initial purchase price, a Trailing Stop order readjusts to the current highest price. The customer chooses the percentage that automatically triggers the sell order.
The Uphold platform is uniquely positioned to offer this feature to customers. Unlike traditional single-order book exchanges, Uphold executes through 29 centralized, decentralized and Layer 2 trading venues. This architecture delivers deep liquidity, redundancy and the ability to satisfy Trailing Stop sell orders during acute market readjustments with the minimal possible price slippage.
Uphold also recently launched Take Profit orders which enable users to set an automatic sell order based upon a customer-set percentage increase from the purchase price.
“A Trailing Stop order allows a customer to keep a trade open while the price moves in their favor and automatically get out if the price falls further than they’d like,” said Simon McLoughlin, Chief Executive Officer of Uphold. “It provides set-and-forget comfort for people who are too busy to constantly monitor the market and provides a sensible way for users to harvest crypto volatility while protecting themselves from excessive risk.”
About Uphold
Ranked #1 in the San Francisco Business Times Fast 100 List, Uphold is committed to making Web3 easy. As a Web3 financial platform, Uphold serves over 10 million customers in more than 140 countries. It provides businesses and consumers with easy access to financial technology and services. Uphold’s unique “Anything to Anything” platform gives end users seamless access to and between digital assets and national currencies and precious metals. Uniquely, Uphold smart routes orders across 29 trading venues delivering optimal execution and superior liquidity to customers. Uphold never loans out customer assets and is always 100% reserved. The company has pioneered radical transparency and uniquely publishes its assets and liabilities in real-time on a public website (http://uphold.com/en-us/transparency). Uphold is regulated in the U.S. by FinCen and state regulators and in the U.K. by the FCA; and is registered in Canada with FINTRAC and in Europe with the Financial Crime Investigation Service under The Ministry of the Interior of the Republic of Lithuania. To learn more about Uphold’s products and services visit uphold.com.
* Certain currencies and assets are not available in all jurisdictions
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SOURCE Uphold
