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.
Key Takeaways:
- Uphold is a crypto platform that offers “Anything-to-Anything” trading, letting you swap any of its 300+ assets, including crypto, metals, and fiat, in one seamless transaction.
- The Uphold exchange charges crypto trading fees from 1.4% to 2.95%, with no deposit or withdrawal fees on most methods, except network fees for crypto transfers.
- Uphold provides crypto staking with up to 13% APY, allowing users to earn passive income on their holdings across multiple digital assets.
- It is a highly secure crypto trading platform with SOC 2 and ISO 27001 certifications along with FinCEN registration in the U.S.
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 ReviewedCrypto 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.
Uphold Vault
The Uphold Vault is designed for people who want full control and security over their digital assets. It operates with a “3-key” system that gives you, as the user, direct control and peace of mind. Here’s how it works:
- Your Private Key is the main key that you manage, giving you primary control.
- Vault Backup Key: If you lose your private key, the backup key is there to help, and Uphold can assist with recovery.
- Uphold Key: This key, managed by Uphold, is used to co-sign your transactions and can also help replace lost keys if needed.
This layered approach ensures that if you lose access to one key, you don’t lose access to your assets completely. The Vault currently supports Bitcoin (BTC) and XRP,
