Uphold is ideal if you want one place where you can buy and trade a variety of assets. It offers quite a few cryptocurrencies, along with precious metals, national currencies, and U.S. equities. Security is a concern, though, as there's a class-action lawsuit alleging the platform didn't adequately protect its customers. Read our in-depth Uphold review to see what it offers and decide if it's right for you.
This cryptocurrency broker is a good fit for: Investors who want access to cryptocurrencies, stocks, precious metals, and forex trading in a single platform.
Pros
Cons
SEE MORE TOP CRYPTO PLATFORMS: Best Cryptocurrency Apps and Exchanges
Trade between cryptocurrencies and other assetsOne of the best parts about Uphold is that it offers several types of assets and lets you trade between them. With an Uphold account, you can buy and trade:
Earn rewards with crypto stakingUphold offers a crypto staking program. When you stake your cryptocurrency, it's used to help validate transactions and secure the blockchain network. In return, you earn rewards on the amount you stake. Uphold supports staking of more than 10 popular cryptocurrencies, including: Learn more about staking: No deposit, withdrawal, or trading feesUphold doesn't charge deposit, withdrawal, or trading fees. It is worth noting that it charges a spread on each trade that varies based on what you're trading and market conditions. Withdrawals to external crypto wallets will also have a network fee, but that's charged by the cryptocurrency network, not Uphold.
Educational contentUphold offers valuable educational content that teaches users about crypto. It has a "cryptionary" explaining crypto terminology, a blog, and a section covering cryptocurrency news.
With many of the types of cryptocurrency it offers, Uphold also includes a page with info on what that cryptocurrency does. These pages often include sections on what the bulls and bears are saying, meaning the arguments for and against that cryptocurrency.
Crypto rewards debit cardThis broker offers the Uphold Card, a debit card that lets you pay with cash, crypto, precious metals, or any other assets in your account. It's a Mastercard, so it works anywhere Mastercard is accepted. The card also earns purchase rewards. You get:
SEE MORE CARD OPTIONS: Best Crypto Credit Cards
Low minimum depositYou don't need a lot of money to start investing in cryptocurrency with Uphold. The minimum deposit amount is $10.
TIP
Buying your first stocks: Do it the smart way
Once you’ve chosen one of our top-rated brokers, you need to make sure you’re buying the right stocks. We think there’s no better place to start than with Stock Advisor, the flagship stock-picking service of our company, The Motley Fool. You’ll get two new stock picks every month, plus 10 starter stocks and best buys now. Over the past 21 years, Stock Advisor’s average stock pick has seen a 406% return — more than 3x that of the S&P 500! (as of 4/10/2023). Learn more and get started today with a special new member discount.
What could be improvedSecurity concernsThere have been a number of reports regarding crypto funds stolen from Uphold clients. Multiple users allege that an unauthorized party was able to access and drain their accounts despite having two-factor authentication (2FA) active. Some lost over $20,000 worth of cryptocurrency. A class-action lawsuit was filed against Uphold on Feb. 25, 2022.
Reports like these are a big red flag. Security is one of the most important parts of any crypto exchange, so the number of people who have lost money on Uphold is a worrying trend.
Variable spreadAlthough Uphold doesn't charge trading commissions, it does charge a variable spread that can be as much or more as trading fees on other platforms. The amount of the spread depends on the asset you're buying and market conditions. It normally varies from as low as 0.2% for national currencies to 3% for precious metals.
On cryptocurrency trades, the spread is typically 0.8% to 1.2% for larger cryptocurrencies. It can be significantly higher on smaller cryptocurrencies with less liquidity.
Lackluster mobile appUphold offers mobile apps for Apple and Android devices, but they both have received mixed reviews. The average ratings are under 4 stars for each of them, and there are numerous complaints about outages, Uphold restricting accounts, and poor response times to customer service requests.
Alternatives to considerIf you want a crypto exchange known for high security standards: Gemini is one of the safest places we've found for buying and selling cryptocurrency. The exchange has a great reputation and several quality protections in place. It keeps most crypto funds offline in cold storage, and it has a digital asset insurance policy.
If you want rock-bottom trading fees: It's hard to do much better than Binance.US, where commissions on its advanced trading platform cost a maximum of 0.1%. You can also get a 25% discount if you pay those fees using the exchange's native cryptocurrency, BNB (BNB).
OFFER
Gemini Exchange
Binance.US
RATINGRating image, 4.50 out of 5 stars.
4.50 stars
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.Rating image, 4.00 out of 5 stars.
4.00 stars
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.
COMMISSIONS$0.99-$2.99 orders < $200, 1.49% for orders at least $200 (default), 0% - 0.40% (Gemini ActiveTrader)0.0%-0.1% maker/taker fee
NEXT STEPSOpen Accountfor Gemini Exchange
Read Full ReviewRead R
eviewHow Uphold worksUphold is a broker that lets you buy, sell, and trade cryptocurrency, precious metals, fiat currencies, and U.S. equities.
What makes Uphold unique is its cross-asset trading. You can trade between any of the assets it offers, meaning you could trade a cryptocurrency for a stock, or a precious metal for a foreign currency.
In addition to trading, Uphold offers several other financial services, including:
Fees overviewUphold charges 0% deposit fees, 0% withdrawal fees, and no trading fees. Instead of trading fees, it charges a spread based on the type of asset you're trading. Here's the typical spread Uphold charges U.S. investors for each of the assets it offers:
TYPE OF ASSETSPREADCryptocurrencies0.8%-1.2% (can be significantly higher for low-liquidity cryptos and tokens)
Precious metals3.0% on top of the bid-ask prices at Uphold's supplier
Major fiat currencies0.2%
U.S. equities1.0%
Data source: UpholdSpreads can vary based on market conditions. Uphold's cryptocurrency spread, in particular, depends heavily on what you're trading. Larger cryptos, such as Bitcoin and Ethereum, normally fall into that 0.8% to 1.2% range. Smaller cryptos could cost more.
Uphold mentions that spreads can be significantly higher with the following cryptocurrencies:
Cryptocurrency selectionUphold offers over 230 cryptocurrencies, which gives it one of the deeper lineups among cryptocurrency exchanges.
One of the reasons Uphold is popular is because it offers cryptocurrencies that most other U.S. exchanges don't. The biggest example is XRP, the native cryptocurrency of Ripple. It was delisted by quite a few exchanges due to an SEC lawsuit. Tron (TRX) is another major cryptocurrency offered by Uphold that isn't widely available.
Is your cryptocurrency safe with Uphold?Uphold checks all the boxes in terms of security features, but customer reviews are mixed. A law firm has also filed a class action against Uphold for failure to correctly implement essential security protections.
To start, here's a rundown of Uphold's most important security features:
In fairness, every crypto exchange receives its share of complaints, and Uphold has plenty of satisfied customers. But these account hacks are worth looking into if you're thinking about buying and storing cryptocurrency on Uphold.
Uphold is right for you if:
This cryptocurrency broker is a good fit for: Investors who want access to cryptocurrencies, stocks, precious metals, and forex trading in a single platform.
Pros
- Excellent cryptocurrency selection
- Cross-asset trading
- Earn rewards with crypto staking
- No deposit, withdrawal, or trading fees
- Educational content
- Debit card
Cons
- Security concerns
- Variable spread
- Lackluster mobile app
SEE MORE TOP CRYPTO PLATFORMS: Best Cryptocurrency Apps and Exchanges
Trade between cryptocurrencies and other assetsOne of the best parts about Uphold is that it offers several types of assets and lets you trade between them. With an Uphold account, you can buy and trade:
- Cryptocurrencies
- Precious metals, such as gold and silver
- Stocks
- Fiat currencies, such as the U.S. dollar and the euro
Earn rewards with crypto stakingUphold offers a crypto staking program. When you stake your cryptocurrency, it's used to help validate transactions and secure the blockchain network. In return, you earn rewards on the amount you stake. Uphold supports staking of more than 10 popular cryptocurrencies, including: Learn more about staking: No deposit, withdrawal, or trading feesUphold doesn't charge deposit, withdrawal, or trading fees. It is worth noting that it charges a spread on each trade that varies based on what you're trading and market conditions. Withdrawals to external crypto wallets will also have a network fee, but that's charged by the cryptocurrency network, not Uphold.
Educational contentUphold offers valuable educational content that teaches users about crypto. It has a "cryptionary" explaining crypto terminology, a blog, and a section covering cryptocurrency news.
With many of the types of cryptocurrency it offers, Uphold also includes a page with info on what that cryptocurrency does. These pages often include sections on what the bulls and bears are saying, meaning the arguments for and against that cryptocurrency.
Crypto rewards debit cardThis broker offers the Uphold Card, a debit card that lets you pay with cash, crypto, precious metals, or any other assets in your account. It's a Mastercard, so it works anywhere Mastercard is accepted. The card also earns purchase rewards. You get:
- 2% back on purchases paid with cryptocurrency
- 1% back on purchases paid with U.S. dollars
SEE MORE CARD OPTIONS: Best Crypto Credit Cards
Low minimum depositYou don't need a lot of money to start investing in cryptocurrency with Uphold. The minimum deposit amount is $10.
TIP
Buying your first stocks: Do it the smart way
Once you’ve chosen one of our top-rated brokers, you need to make sure you’re buying the right stocks. We think there’s no better place to start than with Stock Advisor, the flagship stock-picking service of our company, The Motley Fool. You’ll get two new stock picks every month, plus 10 starter stocks and best buys now. Over the past 21 years, Stock Advisor’s average stock pick has seen a 406% return — more than 3x that of the S&P 500! (as of 4/10/2023). Learn more and get started today with a special new member discount.
What could be improvedSecurity concernsThere have been a number of reports regarding crypto funds stolen from Uphold clients. Multiple users allege that an unauthorized party was able to access and drain their accounts despite having two-factor authentication (2FA) active. Some lost over $20,000 worth of cryptocurrency. A class-action lawsuit was filed against Uphold on Feb. 25, 2022.
Reports like these are a big red flag. Security is one of the most important parts of any crypto exchange, so the number of people who have lost money on Uphold is a worrying trend.
Variable spreadAlthough Uphold doesn't charge trading commissions, it does charge a variable spread that can be as much or more as trading fees on other platforms. The amount of the spread depends on the asset you're buying and market conditions. It normally varies from as low as 0.2% for national currencies to 3% for precious metals.
On cryptocurrency trades, the spread is typically 0.8% to 1.2% for larger cryptocurrencies. It can be significantly higher on smaller cryptocurrencies with less liquidity.
Lackluster mobile appUphold offers mobile apps for Apple and Android devices, but they both have received mixed reviews. The average ratings are under 4 stars for each of them, and there are numerous complaints about outages, Uphold restricting accounts, and poor response times to customer service requests.
Alternatives to considerIf you want a crypto exchange known for high security standards: Gemini is one of the safest places we've found for buying and selling cryptocurrency. The exchange has a great reputation and several quality protections in place. It keeps most crypto funds offline in cold storage, and it has a digital asset insurance policy.
If you want rock-bottom trading fees: It's hard to do much better than Binance.US, where commissions on its advanced trading platform cost a maximum of 0.1%. You can also get a 25% discount if you pay those fees using the exchange's native cryptocurrency, BNB (BNB).
OFFER
Gemini Exchange
Binance.US
RATINGRating image, 4.50 out of 5 stars.
4.50 stars
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.Rating image, 4.00 out of 5 stars.
4.00 stars
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.
COMMISSIONS$0.99-$2.99 orders < $200, 1.49% for orders at least $200 (default), 0% - 0.40% (Gemini ActiveTrader)0.0%-0.1% maker/taker fee
NEXT STEPSOpen Accountfor Gemini Exchange
Read Full ReviewRead R
eviewHow Uphold worksUphold is a broker that lets you buy, sell, and trade cryptocurrency, precious metals, fiat currencies, and U.S. equities.
What makes Uphold unique is its cross-asset trading. You can trade between any of the assets it offers, meaning you could trade a cryptocurrency for a stock, or a precious metal for a foreign currency.
In addition to trading, Uphold offers several other financial services, including:
- A debit card called the Uphold Card that lets you pay with any of the assets in your account and earn rewards on your spending.
- Instant fee-free payments to friends and family worldwide.
- Receiving payments from an employer in any currency or combination of currencies you want.
- Withdrawals to bank accounts in over 30 countries or to private crypto wallets.
- A staking program to earn rewards on your cryptocurrency balances.
- Integration with Brave, a free browser that allows you to earn Brave Rewards paid in the Basic Attention Token (BAT) cryptocurrency.
Fees overviewUphold charges 0% deposit fees, 0% withdrawal fees, and no trading fees. Instead of trading fees, it charges a spread based on the type of asset you're trading. Here's the typical spread Uphold charges U.S. investors for each of the assets it offers:
TYPE OF ASSETSPREADCryptocurrencies0.8%-1.2% (can be significantly higher for low-liquidity cryptos and tokens)
Precious metals3.0% on top of the bid-ask prices at Uphold's supplier
Major fiat currencies0.2%
U.S. equities1.0%
Data source: UpholdSpreads can vary based on market conditions. Uphold's cryptocurrency spread, in particular, depends heavily on what you're trading. Larger cryptos, such as Bitcoin and Ethereum, normally fall into that 0.8% to 1.2% range. Smaller cryptos could cost more.
Uphold mentions that spreads can be significantly higher with the following cryptocurrencies:
- XRP (XRP)
- Dogecoin (DOGE)
- Zilliqa (ZIL)
- Orchid (OXT)
- Universal Protocol Token (UPT)
Cryptocurrency selectionUphold offers over 230 cryptocurrencies, which gives it one of the deeper lineups among cryptocurrency exchanges.
One of the reasons Uphold is popular is because it offers cryptocurrencies that most other U.S. exchanges don't. The biggest example is XRP, the native cryptocurrency of Ripple. It was delisted by quite a few exchanges due to an SEC lawsuit. Tron (TRX) is another major cryptocurrency offered by Uphold that isn't widely available.
Is your cryptocurrency safe with Uphold?Uphold checks all the boxes in terms of security features, but customer reviews are mixed. A law firm has also filed a class action against Uphold for failure to correctly implement essential security protections.
To start, here's a rundown of Uphold's most important security features:
- Two-factor authentication (2FA) is enabled by default on all accounts
- About 90% of crypto funds are kept offline in cold storage
- It runs a bug bounty program
- All employees go through mandatory background checks
In fairness, every crypto exchange receives its share of complaints, and Uphold has plenty of satisfied customers. But these account hacks are worth looking into if you're thinking about buying and storing cryptocurrency on Uphold.
Uphold is right for you if:
- You're looking for a user-friendly platform to invest in cryptocurrencies, stocks, and other assets.
- You'd like to be able to spend your crypto online and in stores using a debit card.
- You want to earn rewards on your crypto by staking it.
