For now, 36 countries from the European Economic Area (EEA) will be able to enjoy zero fee crypto and fiat exchange, while Austria, Ireland Spain are soon to follow.
Bitcoin, Ethereum and Litecoin will be the first available crypto choices on the HOLD app, with easy exchange, buying and selling all within the app. Deposit at any time with crypto or with fiat from SEPA transfers direct from users’ bank account.
This essentially means that crypto liquidity concerns are over, as exchanges between all currencies are instant, allowing you to take advantage of the right prices as soon as they become available. Exit immediately in a downturn, storing value in fiat with no fees to eat away at their already reduced earnings.
Forward-thinking traders that see now as a buying opportunity will still enjoy the instant liquidity and zero fees that come with using the HOLD app.
Lastly, if you’re someone where in the middle and are trying to time the market, quickly being able to switch from offensive and defensive positions will be enabled thanks to the functionality of this app.
Guilherme Almeida, CTO at HOLD said the following about the release:
“HOLD is backed by an incredibly strong team and after months of hard work, we are very excited about our public launch. We are aiming high to provide our customers with the best app experience in the market allowing them to buy, sell and exchange crypto and spend cash using their HOLD Visa Debit card whenever and wherever they want. We like to call it their ‘all-in-one exchange in their pocket!’”
While big features of the app are being able to instantly cash out crypto into a bank account or accompanying debit card with no fees, holding onto crypto is the bread and butter of this app.
All crypto holdings will be secured by the words leading cryptocurrency custodian, BitGo. If you’re a cryptocurrency users that isn’t looking to buy, sell, time the market, but rather just wait this out and see where the dust settles, HOLD has got your back.
On top of this, HOLD will use identity verification technology from Onfido, fraud and money laundering prevention systems, and even utilizing services from Chainalysis for blockchain AML checks. Traditional credit card information is taken into consideration as well and is secured according to PCI DSS compliance.
To further satisfy regulatory requirements, HOLD will be applying for a VFA Class 3 License from the Malta Financial Services Authority a couple months from now in November. Later down the line, HOLD hopes to expand the app offers to other countries, as well as apply for any additional licenses or to meet regulatory requirements, if necessary.
Lastly, the launch of the app and VISA card have also set into a motion a string of prepared activities to followup and build momentum, including a full-scale marketing campaign to build awareness and userbase.