Uphold Review 2024

Our veredict

Uphold is a versatile and user-friendly platform suitable for beginners looking to invest in cryptocurrencies, fiat currencies, and precious metals. The exchange stands out for its simplicity, making it easy for users to buy, hold, and trade various assets with minimal effort. It offers a wide range of supported assets, including over 240 cryptocurrencies and several fiat currencies, allowing users to diversify their investments seamlessly. Moreover, Uphold’s security measures, such as multi-factor authentication and continuous platform monitoring, ensure the safety of user funds and personal information.

However, Uphold does have some limitations that may deter more advanced traders. The platform lacks advanced trading features and tools, such as detailed charting interfaces and advanced order types, which are essential for professional traders. Additionally, while it offers competitive fees for most transactions, certain deposit and withdrawal methods, like using debit and credit cards, can incur higher costs. Despite these drawbacks, Uphold remains an excellent choice for casual investors and those new to the crypto market who prioritize ease of use and security.

Pros

Regulated and Secure: Uphold is regulated by the United States Treasury Department's FinCEN and complies with global Anti-Money Laundering (AML) controls, providing a secure trading environment.
Uphold Debit Card: The Uphold Debit Card allows users to spend their crypto, fiat, or precious metals directly and earn 1% cashback and 2% crypto rewards on purchases.
No Deposit Fees: The platform charges no fees for deposits made via bank account, bitcoin, or transfers from another Uphold account, making it cost-effective for users to fund their accounts.

Cons

High Spread Fees: The platform charges spread fees ranging from 0.8% to 1.2% for major cryptocurrencies in the US and Europe, and up to 1.8% in other regions, which can be higher compared to other exchanges.
Withdrawal Fees: Withdrawals via cryptocurrency incur a fee of $2.99, and bank transfers cost $3.99, which can add up for users who frequently move funds off the platform.

Threenvest Score

Fees

0.65% per transaction

U.S Legal

Yes

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To better understand our editorial guidelines and the investment methodology that supports our ratings, you can explore the information in our editorial policy.

Why choose Uphold?

Choosing Uphold as your cryptocurrency exchange brings several compelling advantages, making it a smart choice for both novice and experienced users. First and foremost, Uphold offers a highly intuitive and user-friendly interface, which simplifies the process of buying, selling, and holding a wide variety of assets. This ease of use is particularly beneficial for beginners who may find other platforms overly complex.

Uphold’s extensive range of supported assets, including over 240 cryptocurrencies, 27 fiat currencies, and several precious metals, allows for significant diversification within a single platform. This flexibility means you can manage a diverse portfolio without needing multiple accounts across different exchanges. Additionally, Uphold’s innovative features, such as automatic currency conversion and the ability to earn crypto rewards through its debit card, provide added value and convenience.

Furthermore, Uphold’s robust security measures ensure that your funds and personal information are well-protected. The platform employs advanced encryption, multi-factor authentication, and continuous monitoring to safeguard user assets. Its regulatory compliance with authorities like FinCEN in the U.S. also adds an extra layer of trustworthiness. Overall, Uphold is an excellent choice for those seeking a secure, versatile, and user-friendly platform to manage their cryptocurrency investments.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on our site, I highly recommend Uphold for anyone looking to venture into the world of cryptocurrency. Its easy-to-use interface and support for a wide range of assets make it perfect for beginners. Additionally, the platform’s robust security measures and transparent operations ensure that your investments are safe and well-managed. Whether you’re looking to diversify your portfolio or simply want a reliable place to buy and hold digital assets, Uphold offers a comprehensive solution that caters to both novice and experienced users.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.