Ûphold - login
Last updated
Last updated
What is Uphold? Uphold was founded in 2015, as a multi-asset digital money platform. It is a broker that makes it easy to buy crypto as well as other assets such as national fiat currencies, precious metals and equities. Their unique ‘Anything-to-Anything’ trading experience is convenient, as it enables users to trade any asset for another. Web Address: www.uphold.com Mobile App: Yes Deposit Methods: Bank Transfer (ACH), Bank Transfer (SEPA), Debit/Credit Card, Google Pay, Apple Pay, Wire Transfer, Faster Payments Service, SWIFT, Cryptocurrency Deposit Fee: Free Products Offered: Cryptocurrencies, National currencies, Precious metals, US Stocks (products may be limited based on country) Cryptocurrencies: BTC, ETH, ADA & 125+ more Trading Fee: Included in the spreads Withdrawal Fee: Free Open Uphold account 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. My Overall Thoughts on Uphold Uphold is an excellent cryptocurrency broker that has found a unique way to differentiate from competitors. Not only do they support assets besides cryptocurrency, but they enable trading between any two assets. Here are three top reasons that I like to use Uphold: 1) Uphold provides users access to a wide range of assets: over 125+ cryptocurrencies, 50 US stocks, 27 national currencies and 4 precious metals. Not only is it impressive that a cryptocurrency broker can offer traditional asset classes on the same platform, but the best part is that you can trade between any two assets. For example, you can trade your Ether (ETH) for Gold, or Tesla stock for Euros. 2) You can buy fractions of expensive US stocks, with a minimum of $1. For example, if you want to invest in Amazon, which has a price of ~$3200 at the time of writing, traditionally, you wouldn't be able to invest only $500 in Amazon. Normally you have to buy at least one share, which would be $3200. With Uphold's fractional equities service, you will gain proportional ownership and dividend entitlement. So now, you can invest in Amazon with as little as $1! 3) Uphold's platform is well-suited for beginners, with a minimalist platform, and is a simple way for new investors to get their toes wet with forex, precious metals and stock trading. Some brokers that are specifically designed for advanced stock traders or forex traders can be overwhelming for newcomers, but Uphold makes it easy with their "one-step" trading UI. It is quick, easy and perfect for beginners to get started. One downside is that Uphold's trading fees can be hard to determine. On many other crypto brokers, the fee is given as a percentage of the transaction, but on Uphold, their fees are included in the spreads. The spreads vary based on the asset and country, making it difficult to make fee comparisons with competitors. Open Uphold account 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. Key Features & Advantages of Uphold Uphold has a lot of excellent features offered on their platform. These are some of the best features and advantages that you will find on Uphold. User-friendly interface Mobile app for iOS and Android 125+ different cryptocurrencies available Staking available on 8 cryptocurrencies Buy & Sell 50 US stocks, 27 national currencies, 4 precious metals Fractional equities - invest in expensive US stocks for minimum $1 Trade between any two assets Uphold Debit card - spend your crypto, fiat, or precious metals AutoPilot - automated trading with scheduled transactions Flexible payments - get paid by your employer in any currency Instant remittances - send money instantly and free of charge Negatives and Disadvantages of Uphold Despite Uphold's great features, there are some areas that I feel they could do better. To learn more, click on the jump links below. Unclear trading fees Assets may be limited depending on your country No Live Chat - only email ticket support Open Uphold account 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. What Services does Uphold offer? Uphold provides many handy services that have made it a popular broker in 184 countries. Let's take a closer look at what Uphold offers. User-friendly interface: Uphold's interface is clean and simple, perfect for beginners who may be overwhelmed by a complex platform with too many options. A screenshot of the dashboard is included below, and you can see at the right of the menu is the quickest way to start trading your assets. "Anything to Anything" refers to the ability to trade any of your assets from one to another, in just seconds. Mobile app for iOS and Android: Uphold has a mobile app available for iOS and Android so you can look after your investments at all times. On the Google Play store, there are over 1 million downloads, with a 3.4 star rating from 17,000 reviews. The app is easy to use, you can keep an eye on all markets, your portfolio, previous transactions, and make deposits and trades wherever you are. 125+ different cryptocurrencies available: Uphold has over 125+ different cryptocurrencies on their platform, including some of the most widely traded coins. You will be able to trade BTC, ETH, XRP, ADA, MATIC, DOGE and many more. Here is a sample of the most popular cryptocurrencies on Uphold. Staking available on 8 cryptocurrencies: Uphold currently offers staking on 8 different coins, where you can earn up to 19.5% APY interest on your crypto. In fact, Uphold is on our list of the best places to stake ADA. Here are all the coins you can currently stake, and their respective interest rates: DOT - 10.5% APY ETH - 4.25% APY ADA - 4% APY SOL - 5.1% APY ATOM - 10.2% APY XTZ - 4.25% APY KSM - 15.3% APY KAVA - 19.5% APY Buy & Sell 50 US stocks, 27 national currencies, 4 precious metals: Uphold is more than a cryptocurrency broker, it also gives users access to 50 US equities (eg: Amazon, Tesla, Google, Apple, Facebook), 27 national currencies (eg: USD, GBP, EUR, CHF, AUD, JPY) and 4 precious metals (gold, silver, platinum and palladium). This is a great way for crypto investors to dip their toes into forex trading and the stock market. Fractional equities - invest in expensive US stocks for minimum $1: On Uphold, you are able to invest in expensive US stocks with as little as $1. This is possible with Fractional equities, which gives you proportional ownership and dividend entitlement of a stock. Let's say you want to invest in Amazon, which has a price of approximately $3,200 per share at the time of writing. On regular stock markets, you would have to buy a whole share, worth $3,200. However, with Uphold's fractional equities, you can invest, say $500 in Amazon, which means you would own about 15% of one Amazon share. This is a welcome feature for those that are used to trading in cryptocurrency, where you don't need to buy a whole Bitcoin to invest in it. Open Uphold account 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. Trade between any two assets: Uphold has a trading feature called "Anything to Anything" which enables users to trade between any two assets. For example, you can trade your Bitcoin (BTC) for Apple stock, or trade your Gold for Japanese Yen. This is a really handy and convenient service that isn't available at most other brokers. Uphold Debit card - spend your crypto, fiat, or precious metals: Uphold has released a Debit card (currently only available in the US) that you can use to pay for goods and services using your crypto, commodities or cash. It can be used at nearly 50 million merchants and ATMs worldwide, with no foreign transaction fees. You even earn 1% Cash Back in USD on any USD-sourced purchases and 2% back in the crypto used for every purchase with the Uphold Debit card. AutoPilot - automated trading with scheduled transactions: Users of Uphold can easily schedule regular transactions using AutoPilot, which enables recurring buy or sell orders to reduce the impact of price volatility. This dollar cost averaging is a way to minimise the risk in the long term. Flexible payments - get paid by your employer in any currency: Uphold is not only a multi-asset broker, but they can help you access financial services that aren't available through your bank. You can receive payments from your in any currency, or combination of currencies you want: for example 60% in USD, 25% Euros, 15% Bitcoin. Instant remittances - send money instantly and free of charge: Uphold is more than just a cryptocurrency broker, they also enable users to send money to their friends and family worldwide. The transactions are instant, free and the money can be sent in any currency from Bitcoin to USD. Open Uphold account 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. What I Don't Like About Uphold Unclear trading fees: Many cryptocurrency brokers list their trading fees as a percentage of the transaction amount, so you know how much you are paying on each trade. Uphold, doesn't charge a percentage fee, but instead include their fees within the spread (the difference between the buy and sell prices). This means you cannot tell exactly how much the fees are, and it is hard to compare between brokers. Assets may be limited depending on your country: There may be restrictions on what products you can access based on where you live. It is best to check what is available in your country before opening an account. The UK and EU are the most restricted regions, where they can only access a limited range of 36 cryptocurrencies, and none of the other assets (national currencies, stocks and precious metals). In the USA, Japan and China, you won't have access to US stocks. The other assets (national currencies, stocks and precious metals) are available for trade in these regions. In other countries that are serviced by Uphold, you will be able to access all the assets: cryptocurrencies, US stocks, precious metals and national currencies. No Live Chat support: One feature I always check for with brokers is the availability of Live Chat customer support, and unfortunately Uphold doesn't impress me in this regard. The only assistance you receive is via FAQs or leaving a query by email. There is no Live Chat, not even an automated bot that can direct you to information that you might find useful. Uphold Fees Uphold Deposit Fees Uphold charges 0% deposit fees. Uphold Trading Fees Uphold doesn't charge trading commission, but they charge a spread. This is how Uphold describes their spreads for their different assets: Cryptocurrencies: In the U.S. and Europe, spread is typically 0.8 to 1.2% on BTC and ETH. In other parts of the world, spread on the majors is typically around 1.8%. Spreads can be significantly higher for low-liquidity cryptos and tokens including XRP, ZIL, OXT, UPT, DOGE and others. See an example of spreads for some coins here. Coordinated market activity such as Wall St Bets can distort markets. All the above spreads are likely to widen beyond those above during times of acute market stress. Precious metals: The spread is typically 3% on top of the bid-ask prices at their supplier. Fiat currencies: The spread is typically 0.2% between major national currencies such as EUR, USD, and GBP. US equities: The spread is typically 1.0%. For trading outside market hours, Uphold adds a small spread based on the stock's volatility. A clock icon will appear when the U.S. public market is closed. U.S. market hours are 9.30am to 4pm ET on business days. Uphold vs Coinbase Crypto Trading Fees It is hard to compare the fees for Uphold against most other competitors because instead of charging a percentage fee, Uphold incorporates it into their spread. I compare the fees as best I can with Coinbase, another top crypto exchange. The spread is the difference between the buy and sell price of a particular cryptocurrency. For example, if Bitcoin has a spread of 0.8%, it means if you buy and sell it immediately, you will lose 0.8% in fees. You can look at the fee per transaction as being half of the spread, so in this case, 0.4% fee. Uphold's spread on BTC and ETH in the US and Europe is "typically 0.8 to 1.2%" and in other parts of the world, it is "typically around 1.8%". The spread for other coins in the UK and Europe are quite reasonable, around 1% for both buy and sell, for a total spread of 2% - 2.5%, as seen in this list. Coinbase has a spread of about 0.5% for purchases and sales (total 1% spread), and they also charge a fee on top. Coinbase's trading fee is 0.5% + an additional fee based on method of payment (ranging from 1.99% to 3.99%). This means that the lowest trading fees on Coinbase are 2.49% on top of 1% spread.
