Brave is a crypto-friendly internet browser that rewards users with cryptocurrencies in exchange for viewing ads. Until now, there were few options for using the Basic Attention Token (BAT), the Brave token. But that started to change on Thursday, June 25th.
It is now possible to use BAT tokens to invest in the largest companies in the world. Uphold, the wallet used to receive the tokens, announced that it will allow the purchase of shares with cryptocurrencies.
Initially, there will be 50 North American companies with shares available for purchase on the platform. The novelty was launched for Latin American countries, including Brazil.
“You can now buy a fraction of the shares of Apple, Tesla, Walmart and 47 other US shares for just $ 1.00. Trade between stocks, cryptocurrencies, currencies and metals in a single account! ”, Said Uphold.
Available in selected regions outside the USA. pic.twitter.com/lEQZ8AnqOl
– Uphold (@UpholdInc) June 25, 2020
According to the company, the objective is to democratize access to investment in shares in Latin America. As a result, no trading or custody fees will be charged for the assets. The minimum investment amount will be only US $ 1.00 (R $ 5.34), accessible to any small investor.
The stock purchase service can be used with several cryptocurrencies, including Bitcoin and BAT. For those who use Brave, it is an excellent opportunity to buy shares virtually for free.
When integrating your account in Brave with Uphold, the user receives their tokens directly in the wallet. That done, it is possible to purchase the shares with the tokens and, with this, accumulate equity in the long term.
Uphold stressed that the new service makes equity investments accessible to millions of people in the region.
"Uphold, the leading digital money platform, today launches an innovative stock service that offers millions of people in Latin America easy and affordable access to US stocks for the first time."
In many countries in Latin America, inflation undermines the few economies that local people can bring together. Especially in Argentina and Venezuela, voracious inflation destroyed local currencies. Argentines, for example, are known to leave their savings in dollars, avoiding the use of the peso as a store of value.
J.P. Thieriot, CEO of Uphold, said that if locals had access to this type of service in 2010, they would be able to preserve their wealth more effectively.
“If you had put $ 1,000 in the basket of 50 Uphold shares in June 2010, today your investment would be worth about $ 5,785. If it was left in Brazilian reais, it would be worth only US $ 337.00, and in Argentine pesos, US $ 50.00. The most shocking was what happened in Venezuela, where $ 1,000.00 in bolivars today would be worth less than $ 0.01 ″, said Thieriot.
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