In this Uphold review, we’ll dive into everything you need to know about using the Uphold app as a cryptocurrency exchange and more. If you’re wondering, is Uphold safe?, we’ll cover the platform’s security measures and show you how it protects your assets. We’ll look at the pros and cons, fees, and explore why Uphold stands out by offering access to multiple asset classes, from crypto to metals and fiat currencies.

What is Uphold?

Uphold is a multi-asset trading digital platform, including cryptocurrencies, fiat currencies, and precious metals. With access to over 300 assets, it stands out with its “Anything-to-Anything” trading feature, allowing you to trade between any supported assets in one step. For example, you could trade BTC to XRP or other cryptocurrencies without converting to fiat first.

You can start with as little as $1, and there are no fees for deposits or withdrawals, which is great if you’re just getting into trading. Uphold is available in over 180 countries, making it easy to transfer funds globally. They also offer up to 13% APY on crypto staking.

Uphold puts a lot of emphasis on security. They’ve got certifications like SOC 2 and ISO 27001, which are good indicators of strong data protection. Importantly, they never lend out customer assets, so you don’t have to worry about your holding’s insolvency. Plus, they’re transparent, publishing their holdings and liabilities publicly.

Pros

  • Easily invest in stocks, fiat, and metals
  • Simple user interface, particularly helpful for beginners
  • Provides crypto staking with up to 13% annual returns
  • Most deposits and withdrawals are free, except for crypto network fees
  • High secure with regulatory licenses across the US and UK

Cons

  • Relatively high fees compared to competitors
  • Lacks advanced charting and analysis tools
  • Up to 34% fee applies to crypto staking rewards

Uphold Key Features Reviewed

Crypto Trading Platform

Uphold’s trading platform offers a wide variety, with over 300 crypto assets to choose from. It offers well-known cryptos like Bitcoin (BTC) and Ethereum (ETH) or many niche tokens, there’s a lot to explore. 

They support assets across various up-and-coming sectors like NFTs (Decentraland’s MANA), DeFi (Uniswap’s UNI), and even meme coins like Dogecoin (DOGE). There’s also exposure to the gamefi through tokens like Axie Infinity (AXS) and Real World Assets (RWAs).

Alongside crypto assets, the platform includes popular stablecoins – like USDC, USD Tether (USDT), and DAI – which are ideal for those who prefer to avoid market volatility but still want to trade digitally. 

What’s unique is that Uphold also supports 20 different national currencies and 3 precious metals (gold, silver, and platinum), offering a diverse portfolio under one roof. Thanks to its unique one-step trading feature, you can easily trade between any of these assets without needing to go through USD first. This setup lets you switch from Bitcoin to a precious metal like gold in one easy move, which is a rare convenience.

Final Verdict

To conclude, this Uphold review shows that Uphold is a secure and versatile platform for trading crypto, metals, and fiat currencies. It’s beginner-friendly, with a straightforward interface that makes trading easy. The standout feature is “Anything-to-Anything” trading, which allows smooth swaps between asset types. Uphold supports a broad range of cryptocurrencies, offers competitive interest rates, and has strong security. 

However, trading fees for some assets are on the higher side, and advanced tools are limited. Hence, we can say that Uphold is a good choice for casual and multi-asset investors looking for a secure and flexible platform.

FAQs

Is Uphold available worldwide?

Yes, Uphold is available in over 180 countries. However, some regions may have restrictions due to local rules. It is currently not available in the Virgin Islands (U.S.), North Korea, China, and more. Check the full list of Uphold-restricted jurisdictions here. 

Are there any hidden fees on Uphold?

Uphold tries to be clear about its fees. There are no direct trading fees, but there is a spread, or small markup, on each transaction. 

For popular cryptos, the spread is usually between 1.4% and 1.6%. For less common assets, it can be up to 2.95%. ACH bank deposits and standard withdrawals are generally free, though instant withdrawals have a fee. Withdrawing crypto may also come with blockchain network fees.

What cryptocurrencies can you trade on Uphold?

Uphold offers a variety of over 300 cryptocurrencies. You can trade popular coins like Bitcoin (BTC) and Ethereum (ETH) or niche altcoins. The platform includes assets from sectors like DeFi, GameFi, and even meme coins.