Uphold is a multi-asset trading platform that combines the features of a crypto exchange, a forex trading app, and an online brokerage. It offers more than 250+ digital currencies and allows users to trade fiat currencies and precious metals—stock trading is available in certain limited geographies outside the US and Europe.
Despite Uphold’s versatility, the platform’s spread fees can be quite high, making it a poor fit for active traders. Keep reading this Uphold crypto exchange review to know more about this platform.
A Detailed Table on Uphold
| Features | Descriptions |
| Founded Year | 2013 |
| Services | Cryptocurrency trading, fiat currency exchange, commodities trading, and more |
| Supported Assets | Cryptocurrencies, traditional currencies, metals, and more |
| Funding Options | Bank transfers, credit/debit cards, cryptocurrencies |
| Mobile App | Available for iOS and Android devices |
| Regulation | Uphold may be subject to financial regulations depending on the region |
What are the Key Features of Uphold
Uphold is a versatile and innovative financial platform. It provides users with a wide range of services, catering to both traditional and digital asset management. Here are some key features of Uphold:
Multi-Asset Support
Uphold stands out for its commitment to supporting a diverse range of assets. Users can manage traditional currencies (fiat), cryptocurrencies, and precious metals all in one platform. This multi-asset approach allows for seamless transactions and portfolio management, enabling users to navigate various financial instruments within a unified interface.
Instant and Low-Cost Transactions
This platform facilitates instant and cost-effective transactions across its supported assets. The platform leverages cutting-edge technology to enable swift and efficient fund transfers globally. Additionally, Uphold aims to minimize transaction costs, providing users with a cost-effective solution for moving funds between different assets and accounts.
Accessibility and User-Friendly Interface
Uphold is designed with accessibility in mind. Its user-friendly interface makes it easy for both beginners and experienced users to navigate the platform effortlessly. The intuitive design ensures that users can manage their portfolios, execute trades, and access financial services without a steep learning curve. This commitment to accessibility has contributed to Uphold popularity among a broad spectrum of users.
Innovative Asset Cards
Uphold introduces a unique feature called “Asset Cards,” which are essentially digital representations of assets held within the platform. Each Asset Card provides users with a snapshot of their holdings, including real-time values, historical performance, and transaction history. This feature enhances transparency and empowers users with comprehensive insights into their portfolios.
Regulatory Compliance and Security
It places a strong emphasis on regulatory compliance and security. The platform adheres to financial regulations in the jurisdictions where it operates. It ensures a trustworthy and legally compliant environment for users.
What Cryptocurrencies and Assets Can You Trade on Uphold?
Uphold supports over 30 cryptocurrencies, commodities, and fiat currencies. Some of the major cryptos you can trade on the platform include:
Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Dash (DASH), and Ripple (XRP). In addition to the popular coins, you’ll also find some smaller cap cryptos like Basic Attention Token (BAT), Ox (ZRX), and more.
For commodity traders, Uphold offers gold, silver, and palladium. And of course, you can trade and convert between fiat currencies like the US dollar, Euro, British Pound, and Chinese Yuan.
With such a wide range of digital and traditional assets, Uphold is an ideal one-stop exchange for any trader looking to diversify their portfolio.
Trading Fees and Limits on Uphold
Uphold fees are relatively low compared to other crypto exchanges. They charge a small spread on each trade, typically 0.2-0.5% of the total transaction. There are no commissions or monthly account fees. The spread is slightly higher for smaller trades, so keep that in mind if you’re trading small amounts.
For cryptocurrency traders, Uphold has trading minimums of just USD 1 equivalent to get started. You can make market orders, limit orders, and stop-loss orders with no minimum size. Uphold also has generous daily and monthly trading limits for all members that should suit most average crypto traders. If you need higher limits, you can request an upgrade by verifying your identity.
Uphold aims to make digital currency trading accessible for people of all experience levels and budgets. Their low, straightforward fees and small minimums remove many of the barriers for new crypto traders looking to buy, sell, or convert coins on the platform.
Is Uphold a Wallet or an Exchange?
Uphold is a hybrid crypto exchange and wallet. As an exchange, it allows you to trade cryptocurrencies for other digital assets or fiat currencies like USD. It offers over 40 cryptocurrencies to choose from.
At the same time, Uphold also provides a secure digital wallet to store your coins. You have full control over your private keys. It means only you have access to your funds. Uphold Wallet uses two-factor authentication and other security measures to help protect your account.
It operates as both a crypto exchange where you can trade digital currencies, as well as a wallet to store your digital assets. The choice is up to you. You can just use the exchange to trade, just use the wallet to hold your coins, or utilize both services.
What are the Alternatives of Uphold
Do you think Uphold can’t suit your needs? If you have any issues with Uphold, don’t worry! You also have a few good alternatives to consider.
Coinbase is one of the most popular crypto exchanges, with a simple interface and support for many cryptocurrencies. Binance is another major exchange with low fees and hundreds of coins to trade.
For smaller traders, Gemini and Kraken are reputable exchanges with lower fees. Crypto.com is an all-in-one platform where you can buy, sell, trade, earn, loan, and pay with crypto. They support over 90 cryptocurrencies and have their token called CRO.
If decentralized exchanges are your preference, try Uniswap, Sushiswap, or PancakeSwap. These let you trade directly with other users, with no central authority.
Is Uphold Legit or Scam
So, is Uphold safe to invest in? As with any platform where you deposit funds or invest money, it’s normal to have some concerns. Uphold is a legitimate cryptocurrency exchange and digital wallet platform that has been operating since 2015. It’s regulated in the U.S. and U.K. is SOC 2 Type 1 certified, and stores most customer funds in secure cold storage.
Uphold makes money through spreads and fees on trades, so they have an incentive to keep your money and data secure. It seems committed to security, transparency, and compliance.
Thousands of customers use the platform daily to buy, sell, and hold cryptocurrencies as well as precious metals. As long as you go in with realistic expectations of the risks, Uphold can be a convenient and legitimate option for entering the world of digital assets.
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Final Thought
Uphold seems to be a legitimate platform for casual trading and investing in cryptocurrencies and commodities. If you go in with realistic expectations, do your research, and only invest money you can afford to lose, Uphold could be a good option for you. Thank you all for reading this Uphold Review 2023.
