Sirwin
Sirwin

When Life Gives You $40... in Bitcoin!

By ⚡ Daniela ⚡ | Me and Bitcoin | 3 Jun 2023


Overexcitement and Bonuses Galore: My Journey with Uphold

 

I can't contain my excitement as I recount my recent experience with Uphold, the not so popular shitcoin casino. I believe that more popular casinos are Binance, Coinbase, Kraken or Kucoin, TBH. It all began at the end of April when I registered on their platform using a friend's referral. Uphold generously rewarded me with not one, but two bonuses! The first bonus, valued at $20, was awarded for simply signing up on the exchange and exchanging $500 for Bitcoin or any other coin. I think the minimum to spend was $300. The additional bonus of $20 worth of satoshis for using their prepaid plastic card.

 

Uphold's Ups and Downs: High Fees, Shady Shilling, and Limited Features

 

However, let's not forget that Uphold is far from perfect. Despite the excitement of receiving bonuses, I must admit they have their downsides. One notable drawback is the relatively high fees they charge for exchanging amounts below $200. It can certainly put a dent in your wallet. Additionally, I noticed that Uphold has been shamelessly promoting a questionable shitcoin that was premined out of thin air, by the same guy who created MtGox. Yeah, I'm expecting some downvotes for this, lol. To compound matters further, Uphold disappointingly does not support withdrawals through the Lightning Network, which could have offered faster and cheaper transactions. Yes, they charge ridiculously high fees to withdrawn. 

 

The Temptation: Why I Joined?

 

Despite these concerns, you might wonder why I still decided to create an account with Uphold. The answer lies in the allure of those enticing free satoshis and the additional benefit of a 4% cashback on spending with their prepaid plastic card. The opportunity to receive free bitcoin simply for joining was too tempting to resist. The cashback I've managed to receive since I joined is about $55 worth of XRP - immediately getting swapped for sats.

 

The Changing Tides of Cashback: Exploring the Fiat vs. Crypto Dilemma

 

Now, let's delve into the specifics of Uphold's cashback program. However, it's important to note that the landscape has changed since my initial foray. Previously, Uphold offered a generous 4% cashback on all fiat currency spending. Unfortunately, as of June 1st, this cashback rate has been reduced to 2% for fiat purchases. However, if you decide to spend your Bitcoin or other coins, Uphold still offers the full 4% cashback. It's worth keeping in mind that converting your crypto back into fiat might come with additional fees, that's at least what I expect from them. If not fees, then an unfavourable spread. Considering alternative options, such as exchanging fiat to stablecoins like USDT, could be a prudent strategy worth exploring. But for the time being, I am content with spending fiat and enjoying my 2% cashback and will probably sort it out before the next month starts.

 

Looking Ahead: Stablecoin Strategies and a Potential Return to Plutus

 

As I reflect on my experience, I can't help but contemplate the future. Exploring the stablecoin route seems like a promising strategy.

Additionally, I find myself pondering the possibility of returning to Plutus, a platform that offers a 3% cashback on purchases. The disadvantage of Plutus is, much harder (more expensive) to convert the cashback to Bitcoin. It's essential to weigh the pros and cons, considering factors such as fees, security, and overall user experience.

 

In conclusion, Uphold has provided me with an exhilarating journey, filled with bonuses and cashback rewards. While it's true that the exchange has its flaws, I remain grateful for the free satoshis and the opportunity to earn cashback on my spending. 

 

If you want to register, it's worth to for the cashback, not their services, IMHO, I'll be more than happy is you use my reflink: https://wallet.uphold.com/signup?referral=4e1501429f

You have to be living in: UK, US (excluding the state of New York), Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Iceland, Liechtenstein, Norway, Argentina, Belize, Brazil, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Bolivia, Chile, Guyana, Paraguay, Peru, Suriname, Uruguay, Haiti and Puerto Rico.

Also, you'll have to exchange $400 dollars for Bitcoin, Tether or even AAVE with the exchange to qualify. Here's the rest of the terms.

I know, not the most inviting review yet I value honesty more than earning from your signup. Uphold isn't the perfect place to buy Bitcoin but earning the bonuses and additional cashback is IMHO worth a try. 

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⚡ Daniela ⚡
⚡ Daniela ⚡

As a passionate writer with a keen interest in exploring innovative technologies, I discovered the captivating world of Bitcoin. Here to write my thoughts.


Me and Bitcoin
Me and Bitcoin

This blog focuses exclusively on Bitcoin, covering various aspects related to the cryptocurrency. It explores Bitcoin's history, its economic principles, and its potential implications in the financial world. The blog also delves into the potential impact of Bitcoin adoption on economics, politics, and society as a whole.

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