In addition to standard cryptocurrency transactions, both Uphold and Coinbase provide other crypto-related services.
Firstly, both platforms facilitate staking, meaning that users can actively stake cash into a cryptocurrency to validate transactions. This works within PoS (Proof Of Stake) blockchains instead of the traditional PoW (Proof of Work) blockchain found in cryptocurrencies such as Bitcoin.
Next, both platforms provide loan services, where users can borrow money and use cryptocurrency assets such as Bitcoin as collateral. Coinbase facilitates the borrowing of up to $1 million, charging 8% APR and requiring no credit check. On the other hand, Uphold has partnered with SALT to provide crypto-backed loans, allowing users to use Bitcoin, XRP, Litecoin, and other cryptos as collateral for up to 12 months. These also do not require credit checks, but the APR depends on the loan details.
Unfortunately, it is currently impossible to purchase NFTs on either Uphold or Coinbase. However, Coinbase has officially confirmed that it will be providing an NFT platform in the near future. Uphold has not made such an announcement as of yet.
The final feature worth mentioning is pro plans, something that Uphold does not currently have. However, Coinbase has a ‘Coinbase Pro’ membership tier, which provides a complex and detailed user interface for advanced crypto investors. This includes access to highly detailed charts and analytics, improving the amount of information one has to base their investments on.