Search
CloseOpen
logo
  • service-logo
    Crypto Broker

4.1

rating icon

This broker is below average. Average Rating for Crypto Brokers is 4.3.

Main features

  • check
    Good security
  • check
    Fast transaction times
  • check
    Mobile + web

Crypto Broker at a Glance

Trading fees

starting from 0.8%

Platform

Mobile + web

Wallet included

Yes

smiling face icon

Cool

Autopilot feature

Autopilot feature

Blockchain integrations

Blockchain integrations

Free BTC Trading

Free BTC Trading

sad face icon

Not cool

High spreads on lower volume assets

High spreads on lower volume assets

Deposit types

  • Bank Transfer

    Bank Transfer

Licenses or Regulations

  • FinCEN

    FinCEN

Supported currencies

  • Bitcoin

    Bitcoin

  • Ethereum

    Ethereum

  • Litecoin

    Litecoin

  • and 80+ more

Countries available

  • 100+

    100+

Updated:

sortter logo

Author:

Sortter Team

alex manea

Fact-checked:

Alex Manea

Quality checked

Uphold Review 2023 - Everything You Need to Know About the Crypto Exchange

Cryptocurrency has been on the rise for a few years now, and it's becoming increasingly popular as people realize the benefits of a more straightforward currency. This popularity has led to an explosion of cryptocurrency exchange platforms.

While all of these exchanges are undoubtedly convenient, not all of them are created equally. One such exchange, Uphold, has a lot to offer in terms of diversification, security, and ease of use.

What is Uphold?

Uphold exchange has been around since 2015 and is one of the first platforms to offer trading digital money and other securities. In addition to cryptocurrencies, you can purchase different assets.

Its unique "Anything-to-Anything" trading experience is convenient for users since they can exchange any item for another.

Uphold certainly offers features that are not available with other exchanges. One of its most valuable benefits is the ability to convert fiat currency into cryptocurrency instantly for free. Other exchanges would usually charge a fee for the same service.

In addition, Uphold guarantees currency conversion at the best possible rates since it uses an internal system that connects over 80 legacy financial institutions and payment networks worldwide.

Pros

  • Simplistic user interface
  • Autopilot feature
  • Fast transaction times
  • Security
  • Blockchain integrations
  • Cheap forex

Cons

  • Lack of better charts
  • Relatively higher fees
  • Lack of altcoins
  • High spreads on lower volume assets
  • Not available in some countries

Although an established name in the crypto exchange world, Uphold is not as popular as Gemini or Nexo. To find out more about Gemini, check out our review page. Our review section also covers Nexo.

Is Uphold safe?

Yes. Uphold exchange is safe for its users as it has an intricate encryption system that's fully compliant with banking standards. Penetration testing and security audits are performed regularly by security professionals.

For added safety, the company also has a dedicated cybersecurity team that constantly monitors accounts and transactions to make sure everything is safe.

Uphold is regulated by the U.S. Securities and Exchange Commission (SEC) and multiple European agencies. This means users' digital assets are fully protected against hackers and human error.

See if Uphold Is a Good Fit for You

Platform & Features

Uphold exchange is available in a web-based version and a mobile app, boasting a minimalistic design for beginners and advanced crypto-traders.

The exchange has straightforward trading options. You can buy or sell any supported asset, set price alerts, and send money to other members instantly using their online address system for free. Other features include:

Automated Trading

One of Uphold's best features is that it offers automated trading through an API program. Developers, small business owners, and financial experts can program their bots to automatically make trades under certain conditions. The platform also has integrations with various software, including third-party crypto wallets.

Uphold Card

The Uphold Card is an alternative to credit cards that lets you pay with crypto, commodities, or cash. A 1% cashback is available on purchases made with your Uphold Card. In addition, a 2% crypto reward can also be earned when doing crypto transactions. However, the Uphold card is only available to UK users.

Instant remittances:

Uphold exchange uses bank-level security to provide almost instant conversion between cryptocurrencies and fiat currencies. This allows users to send money back home quickly without waiting for days or weeks for the transaction to be processed.

Mobile App

All of Uphold's features are available on their website, but they also have mobile apps that let you take your account with you wherever you go. The company supports iOS and Android, so even if you're away from your computer (or if something goes wrong), you'll still be able to access your funds from any of your devices.

Mobile Wallet

Uphold offers a mobile wallet for both iOS and Android devices. A mobile wallet is convenient because it allows you to access your funds anywhere, even if you're away from your desktop or laptop computer. Since the platform doesn't store any of your private keys, you'll need to enter your password every time before making transactions.

Uphold Fees & Commissions 

Uphold exchange offers an all-inclusive pricing model. When you trade, the price you see is the price you pay. Unlike many competitors, Uphold exchange fees are fixed pre-trade.

Uphold's spread on BTC and Ethereum is usually up to 1.2% in the U.S. and Europe. In other areas of the world, it is generally around 1.8%. Spreads can be significantly larger for lower liquidity cryptos and tokens like OXT, ADA, OXT, DOGE, AXS, and others.

Some things to remember:

  • Uphold uses real-time data from many exchanges to create its charts and show its current mid-market price. When you trade, you get the current bid or ask price depending on whether you're buying or selling.
  • There is always a tiny discrepancy between the mid-market and the bid/ask prices. This is how order books on exchanges function.
  • Uphold does not charge any deposit fees, withdrawal fees, or trading commissions. It offers no inactivity or maintenance charges. However, it does charge a spread.
  • Charges for withdrawal to an external cryptocurrency wallet are passed on at cost and may be altered depending on network congestion.

What can you trade on Uphold?

Uphold currently supports 250 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and some of the emerging coins:

1. Ripple: XRP

2. Cardano: ADA

3. Aave: AAVE

4. Stellar: XLM

5. NEO: NEO

6. Dogecoin: DOGE

7. Dash: DASH

8. OMG: OMG

9. Axie: AXS

10. Sushiswap: SUSHI

How to Open An Account

Signing up with Uphold is straightforward and takes only a few minutes. Once you've installed the app on your mobile device, start by entering your email address and choosing if you're creating a business or personal account.

Users are likely to go through an ID verification process to become verified members of the exchange when their lifetime transactions total more than USD 1,000 in every area where Uphold is accessible.

The exchange collects personal information during signups, such as a user's date of birth, email address, and phone number. Users in China will need to provide a valid government-issued identification number.

How to Trade on Uphold

Once you've signed up and verified your account, you'll be ready to start trading.

Let's say you want to buy BTC using USD. To do this on Uphold you have to follow these steps:

  1. Look for the section labeled "Anything to Anything."
  2. Choose where the funds will originate (i.e., linked bank account or credit/debit card) and select USD.
  3. On the "To" field, choose the asset you wish to buy. In this example, select BTC.
  4. Put the amount you want to purchase.
  5. Click "Preview Trade" and check the details.
  6. Hit "Complete," and you're done!

How to Get an Uphold Card

The Uphold card is a prepaid Mastercard debit card issued by the exchange only in the UK. It's linked to your Uphold wallet and allows you to purchase assets, currencies, and precious metals without the inconvenience of waiting for your funds to be transferred from your bank to your Uphold account.

The Card is currently accepted at nearly 50 million merchants and ATMs internationally, with zero foreign transaction fees.

You can also earn 1% back in USD for every USD-derived transaction and 2% back in the cryptocurrency for each crypto purchase using the Uphold debit card.

Uphold Customer Support

One feature we always check for is a live chat feature, and unfortunately, Uphold doesn’t offer live assistance. The only help you can get is by leaving a query by email or FAQs.

Conclusion

Is Uphold a good exchange? Definitely!

It's a simple, straightforward platform with unique features, including its debit card program and "Anything-to-Anything" system. 

If you're looking for an easy-to-use platform that allows you to convert between fiat currencies, stocks, precious metals, and cryptocurrencies all in one place, then this may be the platform for you.

Whether your biggest concern is security or fees, Uphold is the winner above most others as it does not have any hidden costs whatsoever. Plus, if your current bank doesn't offer services in the crypto sphere but still insists on charging you hefty fees on international transactions, then this could be the perfect solution.

One of Uphold's most remarkable features is its ability to trade currencies, precious metals, and cryptocurrencies all in the same place. In addition, users can access their wallets using a mobile app or desktop computer without compromising security. This convenience makes it incredibly easy for users to manage their money at any time from any place.

Now, if you are still unsure which trading platform you want to choose, check out the best crypto exchange comparison tool on our website. We'll make it simple for you to understand all of the essential information about each platform's services, such as rates, available goods, special offers for first-time buyers, and more.

Risk Warning

Terms Apply. Cryptoassets are highly volatile. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong - Uphold Card is Issued by Optimus Cards UK Limited, a principal member of Mastercard and authorised by the FCA.

promotion bar icon

Unsure if this broker is for you?

FAQ

  • On Uphold you can buy and sell Ripple: XRP, Cardano: ADA, Aave: AAVE, Stellar: XLM, NEO: NEO, Dogecoin: DOGE, Dash: DASH, OMG: OMG, Axie: AXS, Sushiswap: SUSHI and many more cryptos.

  • Yes. Uphold exchange is safe for its users as it has an intricate encryption system that's fully compliant with banking standards. Penetration testing and security audits are performed regularly by security professionals.

    For added safety, the company also has a dedicated cybersecurity team that constantly monitors accounts and transactions to make sure everything is safe.

    Uphold is regulated by the U.S. Securities and Exchange Commission (SEC) and multiple European agencies. This means users' digital assets are fully protected against hackers and human error.

sortter logo

Author

Sortter Team

Sortter bases all its content on professionalism and expertise. Some of our articles have been written in collaboration with Sortter's versatile and skilled experts in the financial sector.

Everything you find on Sortter is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology