Uphold Crypto Platform Review 2024

Uphold Crypto Platform Review 2024

Uphold Crypto Platform Review

Cryptocurrency has become increasingly accessible to both beginners and experts, thanks to various user-friendly platforms. Uphold is a prime example of such a platform, is one of the most well-known cryptocurrency exchanges globally, and it’s been around since 2013, which is a long time in the crypto world. 

They have over 10 million customers from nearly every country, and they’re becoming increasingly popular in the UK and Europe. On Uphold, you can hold a variety of coins, including local currencies like GBP, USD, and EUR, with low conversion fees. They also offer business accounts and a debit card so you can spend your crypto in stores.

If you’re new to Uphold, this article will give you all the information you need to decide if it’s right for you. Keep reading to learn about all the benefits and possibilities Uphold has to offer!

What is Uphold Crypto Platform?

Uphold is a platform that aims to change how people access money worldwide. It offers various financial services, including over 250 cryptocurrencies, precious metals, U.S. equities, and national currencies.

The platform is mainly used for buying and selling cryptocurrencies like Bitcoin and Ethereum, but it also provides access to financial services such as banking and money transfers through its mobile app and wallet.

Users can buy and receive local currencies such as Pounds, Euros, and Dollars on Uphold, which is beneficial for businesses trading internationally. Businesses can also open a business account on Uphold, offering them several advantages.

Additionally, Uphold allows users to stake their cryptocurrencies and earn rewards, with interest rates of up to 13%. A lot of users have interesting things to say about this platform, keep reading to find out more. 

Features of Uphold Platform

There are numerous features this app offers, and they include: 

Fast account funding 

Uphold offers multiple ways to quickly top up your account, including bank transfers, debit/credit cards, and e-wallets. However, it’s important to note that Uphold charges a spread fee for each transaction, which varies based on the currency pair and funding method used.

Uphold debit card 

The Uphold debit card allows users to spend cryptocurrencies directly from their Uphold wallet, offering 0% foreign transaction fees and competitive exchange rates for international travel. It is currently available in the United Kingdom, and a US version is expected to launch soon. 

The card offers 4% cashback in XRP on all purchases and can be used at over 90 million Mastercard merchants worldwide. The Uphold Card is accessible only through the mobile app, and users can easily add it to their mobile wallet for convenience.

Ability to connect with third-party apps 

You can link your Uphold Card to third-party apps such as Apple Pay and Google Pay, enabling you to use your card for transactions within these platforms. This integration enhances the usability of the Uphold Card, making it easier for you to make secure and convenient payments using these widely used payment methods.

Also, Uphold’s smart routing algorithm gathers assets from 26 exchanges, ensuring competitive pricing. This feature enables Uphold to provide the best prices for tokens, particularly during periods of high trading volume. Additionally, Uphold’s API allows businesses to make payouts to vendors, employees, and others in various currencies, making it a versatile solution for payment needs.

Multiasset trading platform 

In addition to cryptocurrencies, Uphold allows you to invest in a range of fiat currencies and precious metals such as gold, silver, and platinum. They also provide access to 40 U.S. equities. 


Uphold takes several steps to protect users’ assets. They use encryption technology and a strong defence system to secure assets and address any security gaps. Uphold also conducts regular security audits by certified specialists to identify and fix vulnerabilities. 

They operate a bug bounty program, rewarding individuals who report security issues. Uphold encourages clients to use strong passwords and enable two-factor authentication for added security. 

Additionally, Uphold maintains reserves exceeding 100% of user assets, ensuring funds are available in case of financial loss. The platform stores 90% of crypto in offline cold storage, protected by a multi-signature process. The remaining 10% is kept in secure online storage to manage daily liquidity needs.

Crypto staking program 

Staking your crypto with Uphold is a great way to earn interest. When you stake, you deposit your coins to support a blockchain and receive rewards in return. These rewards, usually a percentage of your stake, vary depending on the blockchain, ranging from 4% to 13% annually. 

Staking with Uphold means partnering with a validator to earn rewards. While you can typically withdraw your tokens whenever you want, there may be some restrictions. Uphold offers a wide selection of blockchains and tokens for staking, giving you plenty of options to choose from.

Uphold Fees 

Uphold charges a spread fee on every cryptocurrency trade, which is displayed as a bid-ask spread for each cryptocurrency available on the platform. The bid price is what you would receive for selling a cryptocurrency, while the asking price is what you would need to pay to buy a cryptocurrency. Uphold adds their spread fee on top of the quoted market price for each transaction.

For U.S. customers trading Bitcoin (BTC) or Ethereum (ETH), Uphold charges a spread fee between 0.8% and 1.2% of the trade’s market value. In other regions, the typical spread is around 1.8%. You can preview a trade to see the exact spread fee Uphold will charge for buying or selling. Once you preview a transaction, the fee is locked in and will not change.

Uphold generally charges higher spread fees for cryptocurrencies with lower liquidity, such as Ripple (XRP) or Dogecoin (DOGE). They may also increase spread fees during periods of high market volatility or trading volumes. Previewing a transaction is the only way to know the specific spread fee you will pay at any given time.

For other asset classes besides cryptocurrency, Uphold typically charges the following spread fees:

  • Precious metals: 3% on top of the bid-ask price
  • Fiat currencies: 0.2% for major currencies
  • U.S. equities: Typically 1% (Please note that U.S. and European customers cannot currently trade equities on the platform)

Uphold does not usually charge trading commissions in addition to spread fees. If you transfer tokens to an external crypto wallet, Uphold may charge a fee to cover third-party transaction fees.

Uphold also offers a Mastercard crypto rewards card that allows you to spend cryptocurrencies, precious metals, currencies, or other investments in your account. The U.S. card has been discontinued and is now exclusive to the UK. With this card, you receive 4% cashback in XRP on national currency expenditures and no foreign transaction fees.

How Uphold Works

Interested in knowing how the app works? If yes, keep reading: 


You begin by creating an account by providing basic information like email, country of residence, and password. You can then verify your identity by providing additional information, such as a government-issued ID.

Secure account

Uphold prioritizes account security, offering two-factor authentication (2FA) and a bug bounty program for reporting vulnerabilities. This ensures that your accounts and assets are protected from unauthorized access. So ensure you follow through on the account protection steps required. 

Deposit funds

You can deposit funds into your Uphold account using various methods, including bank transfers, debit/credit cards, and external crypto wallets. Uphold provides clear instructions on how to add funds, making the process seamless and user-friendly.

Buy cryptocurrencies

Once funds are deposited, you can easily buy cryptocurrencies. Uphold supports a wide range of cryptocurrencies, allowing users like you to diversify your portfolio. The platform provides real-time prices and transaction details, enabling you to make informed decisions.

Sell cryptocurrencies

You can also sell your cryptocurrencies on Uphold. The platform offers competitive rates and a transparent selling process. You can choose to convert their cryptocurrencies into fiat currencies or other supported assets.

Withdraw funds

With Uphold, you can withdraw your funds to an external crypto wallet or bank account. The platform supports various crypto networks, including Bitcoin, Ethereum, and Ripple, making it easy for users to access their funds.

Stake cryptocurrencies

Uphold offers a staking feature, allowing users to earn rewards by staking their cryptocurrencies. This feature is a great way for users to earn passive income on their holdings.

Mastercard Crypto Rewards Debit Card

Finally, Uphold offers a Mastercard crypto rewards debit card, which allows users to earn cashback rewards when spending their cryptocurrencies. This card is a convenient way for users to use their crypto holdings for everyday purchases.

Pros and Cons of Uphold 

Below are the advantages and disadvantages of using Uphold: 


The pros of using Uphold include: 

Ease of use 

Uphold is renowned for its straightforward and user-friendly interface. A validated reviewer, Thibault L. on G2 shared: 

“I recently started using Uphold as my go-to exchange and I have to say, I am very pleased with it. One of the things I like best about Uphold is its simplicity and ease of use. The platform is intuitive and user-friendly, making it easy for me to navigate and find what I need. I remember when I first started using it, I was able to set up my account and start trading within minutes.”

Great customer service 

Uphold is also recognized for its excellent customer service. Users have shared positive feedback about Uphold’s support, noting prompt responses, efficient problem-solving, and assistance with account-related issues. Uphold provides various customer service options, such as an online Help Centre and email support, though phone support is not currently offered.

Seamless integration 

Uphold enables users to seamlessly integrate with trusted third-party wallets, ensuring a smooth trading and investing experience. It also integrates with third-party payment processors, facilitating real-time transactions and partnerships with companies and banks like Checkout.com, Cross River Bank, Metropolitan Commercial Bank, and Ripple. 

A reviewer on Capterra, Jamieal B., shared: 

“What I like most about this software is that I can link my bank account to it to receive my payments or obtain bitcoins and other coins available in the wallet.”


The disadvantages of the Uphold app include: 

High spread fees

One significant drawback of using the Uphold app for cryptocurrency transactions is its high spread fees, especially for cryptocurrencies with low liquidity. Spread fees represent the difference between the buying and selling prices of a cryptocurrency. Higher spread fees mean that users pay more for their transactions. This can be problematic for traders who frequently buy and sell cryptocurrencies, as the high fees can reduce their profits.

Withdrawal and deposit limits

The Uphold platform imposes withdrawal and deposit limits, which can be restrictive for users who want to move larger amounts of cryptocurrency in or out of the platform. These limits can hinder users who are looking to conduct significant transactions or manage their funds more freely. Users may find themselves constrained by these limits, impacting their ability to efficiently manage their cryptocurrency holdings.

No volume discounts for larger purchases

The Uphold app does not offer volume discounts for larger transactions, which can be a disadvantage for users looking to make significant purchases. This means that users pay the same high percentage as a spread on all trades, regardless of the transaction size. This lack of volume discounts may discourage users from making larger transactions on the platform, as the high fees can accumulate quickly.

Licences and Certifications 

Uphold is registered with FinCEN as a Money Service Business in the United States and as an EMD agent of electronic money issuers regulated by the FCA in the United Kingdom. They adhere to Anti-Money Laundering (AML) controls, demonstrating their commitment to complying with all relevant laws and regulations in the United States, Europe, and internationally.

Moreover, Uphold fully complies with Office of Foreign Assets Control (OFAC) regulations. They adhere to Bank Secrecy Act requirements, including currency transaction reports and other reporting obligations.

Additionally, Uphold’s platform is certified to Payment Card Industry Data Security Standard (PCI/DSS) security standards. PCI/DSS is a security standard established to maintain a secure environment for card transactions.

Is Uphold Right For You? 

For newcomers to the cryptocurrency space, Uphold is an excellent starting point and a reliable platform for ongoing crypto transactions. The platform offers a wide range of major coins like Bitcoin and Ethereum, as well as over 250 other trusted cryptocurrencies.

However, Uphold may not be the ideal choice for advanced traders seeking frequent trading or a diverse range of coins. Nevertheless, Uphold remains an outstanding platform for buying, holding, and selling crypto. It provides a safe, secure, and trusted environment for cryptocurrency transactions.


Is Uphold good for beginners? 

Uphold is often recommended for beginners because of its user-friendly interface and wide range of assets, including cryptocurrencies, metals, and currencies. Its simplicity and ease of use make it easy for newcomers to purchase their first cryptocurrency.

Is Uphold Safe? 

With millions of users, regulatory compliance, and a strong industry reputation, Uphold is considered safe and legitimate.

The platform prioritizes security, employing measures like two-factor authentication, encryption standards compliance, regular security audits, and a bug bounty program. Uphold also adheres to regulatory standards and provides real-time reserve reports, enhancing its reliability and trustworthiness.

Is Uphold Safer than Coinbase? 

Both Coinbase and Uphold prioritize security. Coinbase stores 99% of users’ funds in cold storage and provides up to $250,000 FDIC insurance for US citizens. Uphold, on the other hand, stores 90% of user funds in cold storage but does not offer insurance.

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