What is Uphold?
Uphold (formerly Bitreserve) is a cloud-based trading platform launched in 2014. It enables trading and holding of cryptoassets, stocks, precious metals, and fiat currencies in a single place. Headquartered in San Francisco, USA, Uphold is licensed in both the United States (FinCEN registered MSB) and Europe (regulated by the FCA as an EMD agent). CEO J.P. Theriot led the company to raise approximately $15.5 million in a Series B round.
As of early 2022, Uphold serves over 1.5 million users in 182 countries. The platform offers 70+ cryptocurrencies, 20+ stocks, 50+ U.S. stocks, and 4 precious metals (Gold XAU, Silver XAG, Platinum XPT, Palladium XPD). A standout feature is automatic currency conversion and real-time public disclosure of reserve holdings – Uphold was the first platform to do so. Currently available in English and Spanish; Chinese and Russian are not yet supported but expected soon.
How Uphold Works
Uphold matches buyers and sellers using a spread-based pricing model. Unlike most exchanges, it allows direct cross-asset trading: you can convert Ethereum to gold, or Tesla stock to euros without first converting to cash.
Fast Registration & Verification
Sign-up requires only email, location, and password. After email confirmation, the account is active. Once lifetime transaction volume exceeds $1,000, full KYC verification is needed: date of birth, phone number, residential address proof, government-issued ID (passport, national ID, or driver's license), and a selfie holding the ID. Chinese residents must provide their national ID number.
Instant Transfers
Users can send money to friends/family via linked email or account. Crypto transfers are also instant and free.
AutoPilot (Recurring Buys)
Set daily, weekly, or monthly purchases of any asset. For example, automatically buy $200 worth of Bitcoin every paycheck.
Customizable Tile Desktop
The dashboard uses draggable tiles. One click on an asset shows trading options.
Uphold Debit Card
A Mastercard debit card available only to U.S. users. Accepted at over 50 million merchants and global ATMs. Assets are instantly converted to cash at point of sale. Note: ACH deposits take up to 3 business days to settle.
Automatic Currency Conversion
When sending funds, assets are automatically converted to the recipient's preferred fiat currency. Users can also generate a QR code linked to a USD sub-account.
Other Products: Universal Gold (UPXAU)
UPXAU tokens represent 1 troy ounce of physical gold stored at the Perth Mint in Western Australia. Zero custody fees. Can be liquidated instantly into 27 national currencies and spent via debit card, solving liquidity and storage issues of physical gold investing.
Uphold Pros and Cons
- Pros: Highly customizable and user-friendly interface; facilitates direct cross-asset trading; very low minimum deposits; commission-free trading on all assets; accepts debit cards and offers crypto cashback.
- Cons: High spreads on lower-volume assets; limited selection of assets compared to giants like Coinbase; subpar customer support in some regions.
How to Open an Account on Uphold
Go to uphold.com, choose Individual or Business account. Fill in name, email, country, password. Verify email. When cumulative lifetime transactions exceed $1,000, complete KYC: provide date of birth, phone, residential proof (utility bill), government-issued ID, and a selfie holding the ID. Chinese users must submit their national ID number. Click activation link to finish.
Uphold Mobile App
The mobile app (iOS/Android) mirrors web functionality:
- Two-click exchange: Tap “Transact,” choose funding source (bank, crypto network, credit card), execute trade in <30 seconds.
- Comprehensive market data: Real-time prices for all assets, often to 5 decimal places.
- Full desktop functionality: View portfolio, send money, manage card.
- From-and-to interface: Funding and trading on one screen for smooth flow.
How to Withdraw and Deposit on Uphold
Deposits
Click “Add Funds,” select method: cryptocurrency (generate wallet address), bank transfer, credit card. Crypto deposits are free.
Withdrawals
Click “Withdraw Funds,” choose method: Uphold card, crypto wallet, bank account. For crypto, enter target address and amount.
Fee Structure
| Fee Type | Rate |
|---|---|
| Trading fee (fiat/assets) | 0.65% (USD/GBP/EUR) – 3.95% (Platinum XPT) |
| Bank withdrawal (ACH) | Free |
| International SWIFT withdrawal | $3.99 flat + possible third-party fees (e.g., blockchain network fees) |
| Domestic debit card withdrawal | $2.50 per transaction |
| International debit card withdrawal | $3.50 per transaction |
| Domestic/international card purchase | Free |
| Crypto spread | Embedded in buy/sell price |
Trade Limits
Maximum daily spend: $10,000; cash withdrawal per day: $1,500; per transaction: $500.
Supported Countries and Currencies
Uphold currently supports about 27 countries (majorly Europe, US, parts of Asia). Prohibited countries: Cuba, Central African Republic, Iran, Libya, Somalia, North Korea, Sudan, Syria. Supported fiat currencies include USD, EUR, GBP, CNY; over 70 crypto assets and 1,000+ trading pairs.
How Safe Is Your Money on Uphold?
Uphold employs powerful encryption, layered defenses, and 24/7 security monitoring. Regular security audits by external specialists. Bug bounty program encourages reporting vulnerabilities. Two-factor authentication (2FA) and private key encryption protect accounts. The platform has never been hacked in its history. Insurance covers cold storage assets against theft (hot wallet not covered).
Uphold Customer Support Center
- Email: support@Uphold.com; hello@Uphold.com for non-urgent queries.
- Social Media: Twitter @AskUphold.
- In-app help: FAQ section for quick resolutions.
Comparison with Other Cryptocurrency Exchanges
Uphold vs. BlockFi
- Number of cryptocurrencies: Uphold 70+ vs BlockFi 13.
- Loans: BlockFi offers crypto-backed loans; Uphold does not.
- Cards: Uphold offers crypto-reward debit card (US only); BlockFi offers crypto-reward credit card.
- Cross-asset trading: Uphold supports (e.g., gold for crypto); BlockFi does not.
Uphold vs. Gemini
- Geographic reach: Uphold in 180+ countries; Gemini in 60.
- Asset swapping: Uphold allows direct swaps; Gemini does not.
- Insurance: Gemini insures hot wallet assets; Uphold only insures cold storage.
Customer Satisfaction
Uphold holds a 2.3/5-star rating on Trustpilot (over 6,000 reviews). Common complaints include account lockouts, verification delays, and poor communication. Positive reviews praise product variety, simplicity, and crypto rewards.
Cryptopolitan Verdict
Uphold is a solid choice for beginners entering crypto trading with easy deposits and instant purchases. It also appeals to investors wanting to diversify into stocks and precious metals. Its unique cross-asset swapping sets it apart. However, weak customer service and account lockout issues are significant drawbacks. For those willing to accept these, features like AutoPilot, UPXAU tokens, and the Uphold Card with crypto cashback offer real value. Always compare with other exchanges before committing.
FAQs about Uphold
- Is Uphold secure? Yes, it has never been hacked; uses 2FA and private key encryption.
- Is Uphold regulated? Yes, by FinCEN (US) and FCA (UK) as an electronic money institution.
- Does Uphold offer a wallet? Yes, a built-in wallet is available on iOS, Android, and web.
- Is Uphold free? No, it charges a spread on every trade; no additional commission but spreads can be high (up to 3.95%).
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrency trading carries high risk. Please conduct independent research or consult a qualified advisor.