Uphold Review

What is Uphold?

Uphold is a multi-asset trading platform that allows users to buy, hold, convert, and transact across multiple cryptocurrencies, precious metals, and traditional currencies. With a commitment to transparency and security, it provides an intuitive interface for users to seamlessly manage their financial assets. Catering to individual and business users, the platform emphasizes ease of us and borderless access to financial instruments. 

Its vision centers around democratizing access to financial services and fostering global financial inclusion. Uphold is regulated by the Financial Conduct Authority (FCA) and other regulators in over 150 countries, providing users with an extra layer of security when conducting transactions on the platform.

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Uphold Features

Uphold offers many unique services and products tailored to the modern financial landscape. A key feature is its wide asset offerings like cryptocurrencies, precious metals, and traditional currencies, making it a versatile tool for diverse investing. Here's a quick overview of the primary features users can leverage on Uphold:

1. Multiple Asset Types: The platform offers over 250 cryptocurrencies, 40 traditional currencies and several metals like Gold, Silver and Palladium. 
2. Staking: This feature lets users earn interest up to 28% APY on their digital currencies, enhancing the value of their assets over time. 
3. Payment Methods: Uphold has a wide variety of deposit methods to start trading on their platform, including bank transfers, debit cards, credit cards, Apple Pay and Google Pay.
4. Uphold Card: A unique offering that lets users spend any of their holdings, be it Bitcoin, gold, or USD, on purchases anywhere Mastercard is accepted. 
5. Several Deposit Currencies: In terms of fiat currencies, they currently accept USD, CAD, EUR, GBP and 30 more options.
6. Tiered Membership: Uphold offers different membership levels, each with its own set of benefits, allowing users to choose what fits their needs best. 
7. Uphold Vault: A secure storage solution for users' assets, ensuring peace of mind and safety against potential threats. The exchange undergoes regular audits to prove that all funds are being held on a 1:1 basis.
8. Web and Mobile Access: It is accessible both via web browsers and mobile applications, ensuring users can manage their finances on-the-go or from the comfort of their homes. The app is available for both iOS and Android devices. 
9. API Integration: For developers and businesses, Uphold offers robust API tools, allowing for seamless integration and enhanced functionalities tailored to specific needs.

Is Uphold Regulated?

Uphold, headquartered in the United States, operates under the regulatory oversight of the US Financial Crimes Enforcement Network (FinCEN). Outside of the US, it is regulated by the FINTRAC, SEC, FCA & ESMA. While it adheres to strict regulatory standards, it prioritizes the safety and confidentiality of its users' data and assets. The platform employs advanced SSL encryption to safeguard user accounts, implements a rigorous KYC procedure to fortify against potential illicit activities.

It ensures that user funds are securely stored in cold storage solutions, further enhancing asset protection. Their unwavering commitment to security, combined with their regulatory compliance, establishes Uphold as a reliable and trustworthy platform in the digital finance realm. They also maintain transparency by periodically providing insights into their financial reserves, ensuring users that their holdings are securely backed.

Supported Countries

The platform caters to users from over 150 countries worldwide. Thanks to its extensive reach, it can be used in both English and Spanish, ensuring a user-friendly experience for a diverse global audience. Additionally, it accepts deposits in more than 30 different fiat currencies, making it convenient for users from various regions.

However, while it is accessible in many countries, there are specific jurisdictions with distinct regulations. It's always recommended to check local regulations and Uphold's terms of service to ensure compliance. For users in regions with restrictions, it's essential to exercise caution and be aware of the potential risks associated with using any platform outside of local regulatory guidelines.

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Fee Schedule

As a multi-asset brokerage, the fees you pay on Uphold will depend on the asset class you are investing in or trading. Below is a quick summary of the fees across the entire suite of Uphold products and services:

• Cryptocurrency: Zero upfront fees to trade crypto. However, there is a spread that does average around 1% - 3%. 
• Precious Metals: 0% fees but spreads for Gold and Silver are 3%.‍
• Fiat Currencies: 1.2% to trade traditional currencies like USD, AUD, CAD and more.
• Deposit Fees: Fee vary from 0% to 3.99% depending on the payment method you select.
• Withdrawal Fees: 1.75% for fiat currency withdrawals and cryptocurrency transfers vary depending on the token you are withdrawing.

Mobile App

The Uphold app is available on both iOS and Android devices. The app has a 4.5 star rating on the Apple App Store with over 6,000 ratings and a 4.1 star rating on Google Play Store with over 3,000 ratings. The app allows users to buy, sell, trade, and hold all of the assets available on the platform. In addition, users can track their portfolios, set up price alerts, and transfer funds to other Uphold accounts.

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‍Uphold Staking Options

One of Uphold's premier features is its digital asset staking feature. It offers up to 28% in yields on cryptocurrency for customers in any country. The earn feature has flexible terms, which means you can stake and unstake at any time without having to worry about lock-in periods.

What is the Uphold Card?

‍Uphold's crypto card offers a seamless bridge between digital assets and everyday spending. As a pioneering financial tool, this card allows users to convert their cryptocurrency holdings into fiat currency in real time, enabling them to make purchases at any merchant that accepts regular debit or credit cards. The Uphold card provides instant transaction notifications, spending insights, and the flexibility to spend Bitcoin, gold, or traditional currencies effortlessly. 

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Final Thoughts

To sum up, Uphold is a regulated and secure online broker that offers customers the ability to buy, sell, trade, and hold a wide variety of assets. They are one of the most versatile investing platforms available, with extremely low fees on crypto trading. If you’re looking for an easy way to start buying digital assets or want to diversify your portfolio with stocks and precious metals, Uphold is definitely worth considering.