Uphold Review

Uphold Reviews: PROS

As per usual, I'll start off my Uphold review by covering the main benefits that you can expect to receive by using the exchange platform in question. If you’re interested in Uphold fees, wallet functionality, and more, you’ll be glad to know that all of these things fall under the “PRO” umbrella!

A Multi-Functional Platform

Probably one of the biggest benefits associated with the Uphold crypto platform is the fact that it’s multi-functional. What does that mean, exactly?

Well, some time ago, many traditional cryptocurrency exchanges would only offer their users the chance to trade (exchange) crypto assets, and that’s it. If the exchange was custodial, it would also be able to act as a wallet, but that’s the extent of it.

With time, though, and with the increase in popularity of crypto, in general, exchanges started offering their users additional features - advanced trading options, superior storage, and so on.

Quite a few user Uphold reviews will tell you that the platform in question does, in fact, offer a rather significant array of different features and functionalities to its customers.

For starters, the Uphold exchange is the main focus of this review - that’s evident. It allows you to easily trade crypto, but it also provides advanced trading tools, such as take-profit and trailing stop-loss orders. Also, you can set up automatic, recurring transactions for dollar-cost averaging.

To add to that, Uphold is not only about crypto trading; it's also about storing because there’s an Uphold wallet available for you to check out, too! Rather, I should say - wallets. This is because there are several crypto storage options available, two of which can be accessed from a single Uphold app. The first one is the Uphold wallet, which is a simple custodial wallet that allows you to store your crypto assets.

If you want additional security and control, though, you can use the Uphold Vault feature. It provides an assisted self-custody storage option for your assets. What does it mean "assisted"? Well, you get two private keys that only you have control of, but Uphold also provides a secure key replacement service via the third Uphold key.

So, in total, there are three keys. Don't worry, though, two keys are required to control your crypto, so Uphold will never be able to do that. By the way, another perk of this Vault is the fact that you can still easily use your assets because it has instant access to the Uphold trading platform. Just note that the Vault has a subscription fee ($4.99/month or $49.99/year, if paid annually), but you do get a 30-day free trial.

The third crypto storage option offered by Uphold is traditional self-custody via UpHODL, a multichain Web3 Wallet. It's a separate app that can be used to store and manage various crypto assets and NFTs. Besides that, it can be connected to various DeFi trading venues.

So, essentially, Uphold allows you to buy, trade, and store crypto assets, all in one place. It even offers staking services where you can earn up to 14% APY. However, as of writing, this feature is not available in the US, Canada, the UK, the EEA, Japan, Singapore, or other jurisdictions where Uphold is unavailable overall.

Following that, user Uphold reviews will also tell you that you can trade many more assets on the platform in question - not just cryptocurrencies. These assets include things such as equities (only for US-based traders), stocks, forex, and more.

While many people who are interested in cryptocurrencies aren’t necessarily going to be too excited about trading other types of assets, this is still a wonderful feature to have, nonetheless. This is especially true granted that stock, forex, and other exchange functionality doesn’t interfere with the actual crypto exchange part itself.

Now, to top it all off, there’s also an Uphold card available to be used, too. However, this is something that likely deserves a discussion on its own.

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A Debit Card with Intricate Functionality

More and more specific cryptocurrency-related platforms (exchanges, APY-driven projects, etc.) tend to offer their users the chance to acquire crypto-based debit cards. Some of the more-popular examples would include cards from Bybit and Coinbase.

However, the Uphold card is a thing, too. And, to be frank with you, it’s actually a pretty awesome product offered by the company in question. Customer Uphold reviews will tell you that the brand in question issues MasterCard debit cards. These cards are available to UK citizens only, though. In the past, the Uphold card was available for US citizens, too, but it's not anymore.

Now, with the Uphold card, you can use your crypto to shop online from more than 50 million merchants worldwide, as well as use frankly any and all ATMs to withdraw money (ATMs that support MasterCards, that is). The card quickly converts crypto into the required national currency. Plus, you can easily link it to your Apple / Google Pay.

Do note that there is a £2.50 fee for national ATM withdrawals and £3.50 for foreign ones. Also, if you want to get a physical card, you'll have to pay a one-time shipping fee of £9.95. However, the Uphold card charges 0% foreign transaction and annual fees, as well as offers low exchange rates.

Though, the best part is that the Uphold card provides users with cashback rewards on all their purchases. You get a 1% cashback that is paid out in GBP. The rewards are calculated at the end of each month and then added to your Uphold card balance.

The one major con that somewhat overshadows the Uphold card is mentioned above - the fact that you won’t be able to acquire or use the card if you’re not located in the UK. However, if you DO reside within the country in question, this obviously doesn’t apply to you.

Strong Security Features

As you might imagine, security is at the top of the features that you should be looking into when searching for a reliable exchange platform, no matter if you’re reading through Uphold reviews, or any others.

Is Uphold safe and legit, fundamentally? Yes, it is - the platform is very meticulous about the security features that it applies across the board, and lacks any experience with major hacks or security breaches.

User fund-wise, as stated earlier, you may choose to store your cryptocurrency assets in Uphold storage options. While they will always be accessible, at the same time, Uphold claims that the majority of its users’ funds are kept offline, in cold storage devices.

While it’s a feature that has become the standard in the industry, it’s also one of the safest ways to go about it, as well. This, however, is not where Uphold’s attention to security ends.

Uphold never loans out their user assets, so the platform is always 100%+ reserved and very transparent about that, I might add.

The company publishes its assets and liabilities in real-time and participates in (at least) annual security audits, all performed by an independent third party. There are penetration tests, new feature integrations, currently-existing feature improvements, and so on.

To add to that, if you’re still not sure - is Uphold safe? -, you should also keep in mind that Uphold encrypts all of the processes that you may be involved in on the platform (trading, emails, software, etc.), and follows strict KYC and AML rules and regulations.

KYC stands for “Know Your Customer”, while AML abbreviates as “Anti-Money Laundering”. These are the two big sets of financial regulations that many reliable and attention-worthy cryptocurrency exchanges apply to their users, nowadays.

While it may seem inconvenient, and some may even view it as a breach of privacy, KYC is definitely mandatory in order to keep the ecosystem safe, and drive all of the potential scammers away.

Additionally, it's worth noting that Uphold's operating entities are domiciled and licensed in the US, the UK and the EU. It is registered as an MSB with FinCEN and an EMD Agent of an Electronic Money Issuer regulated by the FCA in the UK. Plus, it has achieved the SOC 2 Type 1 and ISO 27001 certifications and is certified to PCI/DSS. Besides, Uphold is also aiming for the SOC 2 Type 2 certification.

All in all, if you were worried about the security side of things, you can rest assured - Uphold is a reliable and safety-oriented platform. Note, though, that the same applies when you’re reading through Uphold app reviews, too!

A Large Selection of Crypto Assets

When picking out a cryptocurrency exchange for yourself, naturally, one of the first things that you’ll probably want to look into is the variety of crypto assets available on the platform.

It makes sense, too - if you’re a beginner who wants to start trading BTC and ETH (and that’s it), you’ll be able to look into other assets in the future, if you so wish to, on the same platform. If you’re an experienced trader, on the other hand, you’ll probably be happy to know that there’s a big variety of assets for you to pick from and trade on Uphold.

User Uphold reviews will tell you that the Uphold crypto exchange supports over 265 different cryptos. That’s a rather significant number! As you might expect, you can find all of the main crypto coins on the platform (BTC, ETH, XRP), and a lot more of the less-known assets, too.

Now, since most regulated and centralized platforms don't have AMM functionality, they usually don't allow you to trade completely new tokens or coins, or some of the more-niche assets. However, when it comes to Uphold, it actually provides users with the possibility of trading new important crypto assets early, even before they are listed on the majority of popular platforms.

This is the case because it's connected to 30 trading venues, including both centralized and decentralized exchanges, as well as several Layer-2 networks. The connectivity also ensures liquidity and means that Uphold can provide you with some of the best crypto prices.

All things considered, if you’re looking for an exchange platform that would support a large number of cryptocurrencies for you to trade and exchange, the Uphold exchange is surely one of the better options, in that regard. This, however, isn’t only due to the aforementioned reason, but also because of the trading intricacies of the platform.

Specifically, some customer Uphold reviews will tell you that the exchange allows you to trade different assets between one another, without any difficulties. Sounds like any other exchange out there? Well, if so, allow me to be more specific - with the Uphold crypto exchange, you’ll be able to trade one asset class between another - cryptos to gold, equities, stocks, and so on.

If you’re interested in traditional investment tools, and are still looking to trade cryptos, this is an ideal scenario! Once again, it’s thanks to Uphold’s unique position of being able to offer its customers a wide selection of tradable assets.

Decent (Albeit Confusing) Fees

Uphold fees are a rather controversial topic - or at least this is what some user ​​Uphold reviews found online would make you believe. Whether or not this sentiment is true depends on the specific types of cryptocurrencies that you’ll want to trade. Allow me to elaborate on that.

If you’re wondering is Uphold legit, you’ll surely find yourself on their fee page, at some point in time. If, say, you’re looking to trade cryptocurrencies such as Bitcoin or Ether (Ethereum), things will be quite clear, straight from the get-go - Uphold fees for these cryptos are around 1,4-1,6% in the EU, UK, and US.

If, however, you want to trade other cryptocurrencies, the spread of the Uphold fees can go up to 1,9-2,95%.

When it comes to deposit and withdrawal fees, they vary based on your location, the asset in question, and payment method. However, they usually fall into the 0-3,99% range.

So… Where’s the confusion, then?

Well, as you can see for yourself, the spread of the fees varies. It also depends on multiple factors - the cryptos themselves, your location, and so on.

That aside, Uphold fees are actually rather decent, especially if you’re looking to trade some of the better-known cryptocurrencies! Yes, the fees are far from being “low”, however, there are exchange platforms out there that offer far worse fee models to their clients.

That said, it’s worth mentioning that, while you do have to pay some higher fees than with other, traditional crypto exchanges, the huge variety of features available with the Uphold exchange do act as a sort of a trade-off!

App Functionality - Available

Reading through the different opinions that users have about Uphold, you will undoubtedly come across some Uphold app reviews, too.

The app in question is a fully-functional platform, in of itself. Meaning, you don’t need to have an actual desktop or laptop computer in order to access Uphold - you can do everything from registration and KYC, all the way to trading and storage right here, in the app.

The app itself is intuitive and simple to navigate through. It offers all of the core functionality that you might require from Uphold - this is true in regards to the wallet, exchange, and other services of the brand.

Naturally, as you might expect, more and more people are using their mobile devices to access their crypto funds, and transact with them, too. Mobile is a very convenient medium to do so - you are able to check on your assets on the go, and don’t need to bring your computer everywhere with you.

Evidently, you might think that this is only true with wallets. However, if you aspire to be an active day trader, then catching the best possible prices for your select assets is important! These prices can change momentarily, though - this is why being able to trade at any point in time becomes crucial.

All in all, the point remains the same - if you’re looking for an awesome and reliable crypto app, Uphold has got you covered!

Uphold Review: CONS

With all of the main benefits of the Uphold crypto platform analyzed and discussed, let’s not take a look at some of the bigger complaints that users have when it comes to the platform, and whether or not it’s worth questioning - is Uphold legit?

May Have a Steeper Learning Curve

Admittedly, nowadays, the vast majority of the top cryptocurrency exchange platforms aim to make their services as approachable and beginner-friendly as possible. It’s a very logical thing to do, too - as discussed in the introductory part of this Uphold review, there’s a huge influx of new people entering the cryptocurrency market.

“New people” usually means that there’s going to be a lot of confusion floating around. If your exchange is able to present itself as being approachable and super-simple to start using, chances are that it’s going to attract a lot of attention, and as a result, traction.

Well, with the Uphold wallet and exchange, this isn’t completely the case. Multiple customer Uphold reviews report the platform being a bit tricky to figure out at first, especially if you have zero prior experience with crypto trading (or cryptocurrencies in general, for that matter).

This is partially due to all of the additional features and trading tools mentioned earlier in the review. With so many different assets and asset classes, and being able to trade them between one another, it can get quite overwhelming, fast!

However, I myself didn't really have any difficulties using the platform. Besides, it does offer one of the easiest ways to buy and sell crypto via its one-step crypto trading feature.

Limited Customer Support Communication Options

Customer support is an essential part of any cryptocurrency exchange out there - that’s pretty obvious. If you come across any technical issues, or are stuck with your transaction, customer support is the very first place you’ll want to turn to.

That’s all fine and dandy. However, you might come across situations where you need help then and there - in other words, a problem that needs to be resolved ASAP.

In situations like these, you’d probably want to be able to contact support immediately. This, unfortunately, isn’t going to be an option with Uphold.

No matter if you’re reading through user Uphold app reviews, or those that talk about the desktop version of the exchange, one thing remains the same with both versions of the platform - there’s no live customer support available to be accessed or reached.

Specifically, you can only contact the support agents via a form, and they’ll get back to you through email. There’s no feature to call the support via phone, or even get in contact with the company via live chat.

Most top-tier exchanges nowadays allow their customers to establish some sort of live communication with an agent - this allows you to rest assured that you’ll get your issue resolved, in a quick and efficient manner.

Though, Uphold's help center is pretty extensive as it covers most of its features and various possible issues.

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Uphold VS Coinbase: Two Exchanges, Different Traders

As you read through the different user Uphold reviews online, you’ll likely find the name “Coinbase” mentioned quite a few times. This is because Uphold VS Coinbase is a rather fierce discussion - these two exchanges tend to get compared rather often.

However, the good thing here is that both of them are very different from one another, and are aimed at somewhat different types of crypto traders. Let me explain.

As we’ve already established, Uphold is a multi-functional exchange. The platform offers its users a wide array of different benefits and tools - wallets, different asset class trading, a debit card, and so on. We’ve discussed all of these things already.

My point here is that Uphold is aimed at traders who would like to explore other asset classes, and not stay fixated on crypto. On top of that, since the platform isn’t all that simple to get into (by comparison, that is), it’s preferred by some experienced day traders, and people who’d like to diversify their portfolios.

	COINBASE
Overall Score	9.1
Best For	Buying, selling, and managing cryptocurrencies
Operating Countries	United States , United Kingdom , Germany , Canada , France , + 100 more ,
Latest Coupons	GET $200 REWARD All Coinbase Coupons
Verdict	A reliable, well-known and respected cryptocurrency exchange platform.
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Table: Some general information about the Coinbase cryptocurrency exchange

Coinbase, on the other hand, is completely different in that regard. In the “Uphold VS Coinbase” argument, Coinbase is often hailed as one of the simplest and most beginner-friendly exchanges in the industry.

This is actually a point that the company itself emphasizes, as well. If you’re a complete beginner, Coinbase allows you to have an awesome experience getting to learn about crypto as you trade - there are even rewards for doing so, too!

Both exchanges are secure and reliable, though. On top of that, they support a similar number of cryptocurrencies, and allow you to store your coins and tokens on their hot wallets.

In short, it’s worth emphasizing that both Coinbase and Uphold are awesome crypto exchanges, yet each of them have their own target audiences. At the same time, you can be sure to try out both platforms, too - perhaps that’s actually the way to go, in the first place?

How to Use the Uphold Cryptocurrency Exchange?

Now, with all of that being said and done, to finish off our Uphold review, let’s check out the actual platform itself, and how you can get started with using it.

First things first - how should one go about registering on the Uphold exchange?

Step 1: Go to the Uphold official website. You may also visit the iOS store, or the Android store in order to find the Uphold app, and download it. The process is frankly the same on either desktop, or the Uphold app.

Step 2: At the top of the page, on the right side, you’ll see a “Sign up” button. Press it.

Step 3: Here, you will need to enter your initial details. These include your email, country of residence, and citizenship. You will also need to create a password, too.

Step 4: Now, you'll have to provide some personal information about yourself, including your legal name, birthday, and address.

Step 5: Next, you'll have to set up 2-step verification - simply enter your phone number, and you’ll receive a text message with the code that you need to enter on the screen.

Step 6: Then, you will also need to confirm your email address. Either navigate to it on your computer, or open the email app.

Step 7: After you pass a few more confirmation windows and give some more info about yourself, you’ll be all set to start trading.

Well, kind of. Before you make any “big moves”, you’ll need to do two things - pass the relevant KYC processes, and fund your account.

The registration process is actually quite quick, and very self-explanatory. You shouldn’t come across any hurdles, whatsoever.

Now, in order to pass the KYC verification checks, you’ll have to provide Uphold with some private information about yourself. Specifically, you’ll need to identify yourself and provide proof of ID.

If you’re a crypto elitist, then this isn’t ideal. However, if that *is* the case, you probably already have a decentralized exchange picked, and are ready to start trading there.

If, however, you have no issue with Uphold identifying you, then the KYC and AML checks shouldn’t prove to be a hassle, at all. They are very standard, and help keep the platform safe and sound.

Once you do all of that, you can then fund your account via a credit or debit card, or a bank transfer, and start trading the cryptos (or other assets!) that you’d please!

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Conclusions

Now, then - what’s the general verdict on the Uphold exchange? Well, I think it’s rather self-evident - if you don’t fear a small challenge of getting around the advanced features of the platform, then Uphold is definitely worth checking out!

You should note, though, that the exchange is going to be best for a certain type of crypto enthusiast. This is actually something that’s evident from reading other customer Uphold reviews, too, and also all of the discussions and comparisons revolving around Uphold and Coinbase.

If you’re an advanced trader, or are planning to become one, Uphold will provide you with all of the features that you might need, in your journey to come. This is true both in regards to functionality, as well as portfolio diversification, too. Well, the latter point is actually even cooler than it sounds. Uphold allows users to trade multiple different asset classes - crypto, equities, stocks, and so on.

The downsides here are that EU residents won’t be able to trade the aforementioned equities, and that Uphold might not be the best choice for someone who’s just starting out. Not because the exchange would be lackluster - instead, it’s due to the fact that it can get overwhelming!

All in all, if you’re looking for a reliable crypto platform, and are excited to try out multiple features, the Uphold exchange and the Uphold wallet shouldn’t leave you disappointed! Don’t hesitate to check the platform out, and best of luck!

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.