SAN FRANCISCO and LONDON, and BRAGA, Portugal, Nov. 16, 2017 /PRNewswire/ -- Uphold, a leading digital money company, today announced that Heleum has built a new multi-currency trading application that runs on the Uphold platform via its open API. The web app continuously monitors exchange rates across the nine most traded national currencies and three top cryptocurrencies (Bitcoin, Litecoin, and Ethereum), moving funds instantly and automatically when rates are the most advantageous. Members from 174+ countries can start saving long-term with as little as $5.
Heleum has disclosed that they enabled over 400 users to trade automatically via the Uphold platform, generating average returns of 21% during their six-month closed beta. Heleum currently has over 900 users and $750,000 in total balances. Each user's individual Heleum balance held within their Uphold account is launched gradually in portions called 'balloons'.
For example: a user's Heleum 'balloon' launches with $10.00. Seeing an opportunity for gain, it instantly converts to Ethereum. Over the next few months, the balloon can make several automated moves between various currencies before finally 'popping' and returning their initial investment plus gains to their Heleum USD balance in Uphold. Each trade is automatically triggered by Heleum's algorithm, which scans all available currencies for trading opportunities.
"Heleum helps grow your money by directing your funds to float systematically between currencies. We would not have been able to launch this app without access to the Uphold platform, which takes care of all the compliance and security issues associated with moving across digital currencies to enable perfectly executed trades," said Pace Ellsworth, Heleum CEO.
The app is built on top of Uphold's API, leveraging the Uphold platform to power low-cost algorithmic trading activity across a wide range of currencies. Uphold also handles regulatory compliance for partner apps and provides unparalleled security and speed.
"The partnership with Heleum provides Uphold members with yet another powerful and accessible app within the Uphold ecosystem. The app trades between a selection of our supported currencies to provide our members with consumer-friendly, hands-off investing," said Robin O'Connell, Chief Revenue Officer of Uphold. "Heleum is a wonderful example of the potential that our open API offers. We have a number of exciting partners in the pipeline and look forward to a very busy few months!"
Heleum was created in 2015 by brothers Pace and Taylor Ellsworth in Mesa Arizona, in partnership with their colleague Dan Pratt. They developed a currency trading strategy based on mesh networks that reduces friction while increasing potential returns. Heleum's vision is to develop a suite of financial apps for the average consumer that removes the need for any trading, programming, or cryptocurrency experience.
Heleum is celebrating their web app launch with a promotion running through November 22nd. Any user who signs up during the promotional period will get an instant and permanent boost to balloon gains and the opportunity to eliminate all Heleum fees by referring other users to the app. The free web app is available from the Heleum website. iOS and Android apps are currently in development.
Uphold is the creator of an innovative digital money platform that lets you instantly and safely access traditional currencies, cryptocurrencies, and other investments all in one place. Uphold has powered over $1.7 billion in transactions across 174 countries, in 30 supported currencies and four commodities. The Uphold platform provides access to the widest range of currencies and investments available in one place, with unparalleled transparency and security. Uphold is the only company to publish real-time reserve holdings, guaranteeing that its members are provided with the necessary information to make informed decisions. Uphold is a venture-backed company with global operations across: Braga, London, Los Angeles, Mexico City, and San Francisco. To learn more, visit www.uphold.com, or follow us on Twitter, Facebook and LinkedIn.
Heleum is the creator of automated consumer finance apps. Their first app utilizes Uphold's platform to automatically move user funds between multiple currencies, resulting in long-term gains relative to the user's base currency. Heleum's fees are derived from a portion of the gains that a user makes. Development started in 2015 and Heleum has already helped hundreds of users initiate thousands of automated transactions, resulting in tens of thousands of dollars in gains. Heleum is based in Mesa, AZ. To learn more, visit www.heleum.com, or follow us on Twitter and Facebook @heleumapp. Heleum is not a financial management company and is not FDIC-insured.
Consort Partners for Uphold