Cryptocurrency is a complicated, confusing and intimidating world.
Most people don’t know where to begin when it comes to buying cryptocurrency. It’s not easy, there are so many options out there and the market changes every day!
When you first start trading cryptocurrencies, it’s hard to find a place that is beginner friendly and has the tools and support you need.
Uphold wants to not only allow you to send, receive, and trade digital assets safely, but also have access to precious metals, stocks and other assets not commonly found on crypto exchanges.
Uphold makes it simple to trade many assets by allowing you to open one account and trade a variety of instruments without having to convert in and out of cash.
It’s a cryptocurrency exchange that delivers flexible and powerful payment services to the worldwide bitcoin market.
Uphold offers other innovative products like the Uphold card, available for US users only, is a Mastercard debit card that permits the cardholders to spend anything from gold to cash to Bitcoin.
The mobile app is available on the Google Play Store and Apple App Store, so you can access your crypto wallet anywhere at anytime.
Upholds simple interface makes trading easy for beginners, but also appeals to more advanced traders that want access to a more diverse portfolio outside the crypto markets.
- The platform charges zero fees for the account, ticket, custody, and dormancy
- ‘Anything-to-Anything’ trading applies trading between the different classes of assets seamlessly.
- Send money to friends and family instantly for free using any of Uphold’s supported assets.
- Newbie- friendly mobile/desktop apps enable users to master their trading activities
- It has a less organized education center than its competitors.
- Might not have obscure coins or lesser known cryptos
- Even though, it’s easier to use overall, there may be slight learning curve if you are used to other crypto exchanges.
Uphold Review 2022
Uphold has a simple to use intuitive trading environment allowing users to transact swiftly between the different classes of assets. For example, you can easily trade between multiple cryptos like Bitcoin, Ethereum or you can take advantage of the integrated ability to swap and trade your crypto assets for traditional stocks like Tesla or Apple without first depositing fiat currency for the purchase.
Unlike other exchanges, Uphold doesn’t require converting your money in multiple currencies while purchasing cryptocurrencies, metals, and stocks. Moreover, it enables users to buy their favorite assets using bank accounts and credit cards.
Users on Uphold can leverage the payment channel for instant transfers at no cost anywhere globally by sending funds to other wallets.
When doing our Uphold review, we found one of the best aspects to using Uphold is being able to move in and out of multiple asset classes without transferring back to fiat. Access most of cryptocurrencies, stock and forex investment platforms all from one convenient website or app.
Uphold has a mobile and a desktop platform that enables customers to access their financial tools anytime, anywhere. The exchange site is user-friendly, making it suitable for new and old traders. It is offers a convenient way to invest, transfer or receive money through its website or App.
- Users looking for an extremely easy to use trading interface
- Crypto investors looking to invest in major coins and tokens (currently lists 36)
- Those who are looking for a better way to trade precious metals
- Anyone interested in accessing traditional stocks and equities
Features of Uphold
Uphold has numerous features and products that make the exchanges site user-friendly. They include;
Customizable and intuitive tile desktop platforms
Consumers appreciate how it is easy to use and personalize your details on Uphold desktop platforms. Once your account is ready, you will be provided with your own desktop platform. You can then adjust the setup to fit your personal needs.
On your desktop tile, click any asset to access your preferred menu to choose your trading option.
New AutoPilot Feature
Something we are excited to add in our Uphold review, they have introduced a new product within the network known as the AutoPilot feature. The feature is designed to make it easier for you to buy your ideal cryptos daily, weekly, or monthly. Also, the product allows you to scheme your recurring transactions.
For instance, you could schedule a program to purchase $200 or $100 in Bitcoin monthly to coincide with your payday.
Instant money transfers
Instant cash transfers is another compelling feature that customers love. For example, if you want to send or receive money from your friends or family members, Upholds allows you to complete your transaction in a click of a button.
How is it done? By linking your account to the recipient’s account or via email. Additionally, this feature gives you the freedom to choose the type of currency you’d like to use. Many Uphold customers prefer this feature because it is absolutely free, whether transacting in Bitcoin or dollar.
Automatic Currency conversion
You can conveniently send money to your friends or family members using Uphold automatic currency conversion feature. Here is the procedure to follow? Choose what you like to send, e.g., ETFs or Bitcoin, and the recipient will receive it in the currency they prefer. It might be Euros or dollars or any other currency.
You can also use a QR code linked to the Uphold Exchange platform. For example, if you got US dollars in your account, the other person can send you ETFs or Bitcoin. When the transaction is initiated, it will be automatically converted to USD.
Uphold card has brought a lot of convenience to customers. With Uphold debit card you can spend anything from cash to Bitcoin. Furthermore, the card is accepted by more than 50 million merchants and ATMs worldwide.
Uphold Mobile App
Like the tile desktop platform, Uphold customers love mobile App. The App mirrors the desktop version of the platform, making “anything to anything” transfer easier. Uphold mobile app has the following unique features
- Two click exchange
- Comprehensive market data
- From and to interface
- Full desk functionality
Two click exchange
This feature permits quickly place your orders just like the web-based platform.
How to get started?
On the App, click the “Transact Tab” after that; select your preferred funding method. Options here can be cryptos, bank accounts, and credit or debit cards. Then select your payment method, after which you can start placing your transactions.
Comprehensive market data
Uphold offers its clients with up to date market data. The market data are updated regularly, and it covers everything on the platform ranging from precious metals to cryptocurrencies. On most occasions, data prices get calculated to the fifth decimal place to make accurate calculations.
Uphold is not a free platform, the exchange reduces the transaction costs involved in the exchange of cryptocurrencies. Cryptocurrency buyers and sellers are matched and charges a spread every time a trade is executed.
The Uphold exchange does not charge its clients any trading commissions on transactions, withdrawals, or deposits. Residents of a few countries nevertheless have to pay a fee for particular actions like withdrawing funds to private wallets on different crypto networks or using payment services like the Swift network to send money to banks.
How much will you pay for the exchange fee? The fee charged will vary depending on the asset or product you are converting. For instance, you’ll pay 1 percent for stocks and ETFs. You’ll be charged between 0.80 to 1.20 percent for cryptocurrency transactions, while a transaction fee of 1.06 to 3.95 will be included in metals. Transaction cost for forex currencies will be between 0.20 to 0.85 percent.
Getting started on the site is as easy, simple and direct. First, start by providing a working email address and choosing a strong password. Then, you will be required to answer a few questions about your locality. You’ll receive a notification to verify your email. After you are done, you can go ahead and create your account on hold Uphold and fill in your personal detail in less than two minutes.
See this guide showing how to invest on Uphold for more detailed instructions.
How to trade on Uphold
In order to make a trade on Uphold, one would need to have two currencies in their portfolio and then go through the process of:
Finding out what each currency is trading at in relation to each other and then put in an order. For example, say we buy $1000 worth of ETH for $800 and want to trade it for BTC. We could put in an order for $1,200 worth of BTC.
The exchange will automatically calculate the price based on market value when your order goes through. You can’t specify a purchase or sale amount because Uphold calculates it for you based off the market pricing when the transaction goes through.
How to withdraw from Uphold
In order to withdraw from Uphold, you will need to have a payment information. You can make a withdrawal by selecting the account from which you would like to withdraw from and then pressing “Withdraw”. After that, you will need to enter the amount of money that you would like to withdraw as well as your payment information. Your account funds should then show up as pending within 24 hours.
How to deposit into Uphold
In order to deposit into Uphold, you will need to have a bank account or credit card set up on your profile page. You can purchase directly from Uphold by clicking on “Buy” and selecting what currency you would like to purchase. The application will then give you the relevant information for the relevant payment method attached to your profile. You may then follow the steps that are required in order to complete the purchase.
Uphold vs Coinbase
Coinbase and Uphold have a few key differences in their fees and services. Generally, Coinbase is more affordable and considered easier to use while Uphold gives the ability to trade more than just crypto. Another benefit to Uphold, they are more generous with credit card deposits and withdrawals. A major difference in usability is that Uphold charges based on market value, while Coinbase charges a flat fee per transaction.
Coinbase seems to see itself as more of a brokerage, like E-trade. Uphold is selling its platform as more of an exchange, like Coinbase Pro or Gemini. As such, the fees are different for each company.
In order to learn more about both these companies, see our Uphold vs Coinbase post.
In the future, Uphold should consider improving in their customer service section. Presently, their customer service can only be contacted via email or Twitter account.
If you have any queries or concerns, you can send a message to the company inquiries desk through email@example.com. If your issue is not pressing or agent, you can contact them through firstname.lastname@example.org . You can also contact the company via their Twitter handle @AskUphold.
Uphold review overall takeaway
We have had no complaints so far. The transfers are quick, the interface is user friendly and the customer support and security is as good as it gets.
If you are looking to trade crypto and want a seamless and easy experience, check out Uphold today.
If you know others looking for a feature-rich crypto exchange that wants to learn more, send them to our Uphold review so they can get all their questions answered.
Uphold Disclaimer: Assets available on Uphold are different per region. All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection