Uphold vs Bitrue | Adequate Exchanges For Serious Traders?
Jack Moreau
Feb 2024
10 min read
Fact checked
Uphold vs Bitrue: Are you trying to decide between these two crypto exchanges? Our comparison evaluates the key factors such as signup processes, KYC requirements, supported countries, trading fees, product offerings and overall user experience. Read on and and find out which exchange that best fits your needs!
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Uphold and Bitrue are two popular cryptocurrency exchanges with different focuses and unique features.
While Uphold prioritizes beginner friendliness and regulatory compliance, Bitrue offers a range of trading services tailored more to experienced traders.
Uphold was founded in 2013 by Halsey Minor and is registered and based in London where it has over 300 employees.
Uphold is a digital platform that allows users to trade various financial instruments such as over 300 cryptocurrencies, precious metals, fiat currencies and a variety of stablecoins.
Its unique "Anything-to-Anything" trading feature allows users to seamlessly convert between different asset classes in a single transaction.
Uphold focuses heavily on security and regulatory compliance, adhering to strict Anti-Money Laundering (AML) and KYC protocol in addition to have 1-1 backing of all user assets on the platform.
Uphold has grown to over 10 million users and 5 million downloads on its Android app with an impressive 4.7 rating based on 40,000 reviews.
Uphold app
Bitrue was founded in 2018 by Curis Wang and is registered and headquartered in Singapore with over 100 employees. It is operational in over 80 countries but is restricted in locations like Texas, New York, China, and OFAC countries.
Bitrue exchange
Bitrue is a Singaporean centralized cryptocurrency exchange that offers a range of financial products, such as staking, lending, and borrowing, allowing users to generate passive income from their digital assets.
Bitrue supports more than 700 cryptocurrencies and top cryptos such as BTC, ETH, ATOM, SOL and others are available on the exchange.
Bitrue's mobile app has been downloaded over half a million downloads with an excellent 4.8-star rating based on 5,000 reviews.
Uphold has an even larger userbase on mobile with 5 million downloads on it's Android app with a fantastic 4.7 rating based on 40,000 reviews
Uphold app
Uphold vs Bitrue Signup & KYC
Uphold and Bitrue are two popular cryptocurrency exchanges with different requirements regarding KYC.
Uphold requires KYC verification for all of its users, while Bitrue only requires KYC for users who want to buy crypto or deposit fiat currencies on the platform.
Signing up for Uphold is a swift process as it only takes a minute to enter your email, password, country of residence, and citizenship.
However, users must pass the KYC verification process to use their services fully. The verification process is straightforward and can be verified in as quickly as a few hours but can take up to 24 hours in some cases.
Uphold signup
On the other hand, Bitrue's signup process is quicker as KYC is not required to deposit and trade cryptocurrencies.
Creating an account takes only 30 seconds, and users can deposit cryptocurrencies and start trading right away. However, those who want to buy crypto or deposit fiat currencies on the platform must go through the KYC verification process.
Uphold vs Bitrue Products & Services
Uphold and Bitrue are two completely different exchanges that provides users with different services and products.
Uphold's platform allows users to buy and sell over 300 cryptocurrencies, metals trading, national currencies like USD, GBP and a wide range of stablecoins.
Uphold cryptocurrencies
Additionally, staking is available for over 30 different cryptocurrencies such as ATOM, MINA, DOT, FLR, AUDIO and many others.
Uphold staking
Uphold's clean and simple interface is perfect for beginners who want access to a simple interface that let's them easily deposit funds and then buy, sell, transfer or staking their digital assets.
Users on Uphold can further easily schedule recurring buys for those that wish to dollar cost average. Uphold is further fully backed with proof of reserves available for anyone to verify.
Uphold 100% reserves
On the other hand, Bitrue provides it's userbase a more comprehensive product range which includes spot trading, futures trading, leveraged ETFs, copy trading, and lending and borrowing services.
Users can earn staking rewards when locking up their coins, which is a great way to generate passive income from digital assets.
Bitrue products
Bitrue offers a clean and easy-to-navigate user interface that is perfect for both new and experienced traders.
The exchange's average daily spot trading volume of $1 billion is proof of its popularity among traders. Bitrue's max leverage of up to 50X on USDT perpetual futures which are services not available on Uphold.
Spot trading on Bitrue
Simply put, while Uphold is a really great option for beginners who want an easy way to buy, sell and earn cryptocurrencies, Bitrue is a more typical and comprehensive platform that caters to the needs of more experienced traders.
For customers in the United States, United Kingdom and Europe, the spreads are closer to 0.9-1.2%.
Contrary to Upholds basic fee structure, Bitrue has different spot fees for makers and takers depending on which trading pairs are used.
For trades involving BTC, ETH or USDT pairs, the spot fees for both makers and takers are a competitive 0.098%.
Meanwhile, those using XRP as a trading pair will face a higher 0.28% fee. Although Bitrue doesn't provide rebates for increased trading volumes, a 30% discount is available for users who trade with the platform's native BTR token as a trading pair.
When it comes to depositing fiat currencies on Uphold and Bitrue, the two exchanges offer different options and fees.
Uphold supports three fiat currencies including USD, EUR and GBP and offers several deposit methods such as bank transfer, debit/credit card and Faster Payments (FSP). What's great about Uphold is that all fiat bank transfers are free of charge.
Uphold thus offers great deposit options for Americans, Brits and Europeans who want to deposit fiat currencies with free options.
For those that wish to deposit with cards, the fees are 3.99% deposit fee with credit cards and a 2.49% deposit fee with debit cards.
On the other hand, Bitrue does not support fiat deposits and only allows users to deposit cryptocurrencies or buy crypto with a card.
However, it should be noted that the card deposit option comes with an expensive 3.5% fee or $10, whichever is higher.
Buy and sell crypto with card Bitrue
Overall, if you're looking to deposit fiat currencies, Uphold is the better option with it's range of fiat currencies and free deposit options.
Let's move on from deposits and take a closer look at the withdrawal methods offered by each exchange.
Uphold allows users to withdraw their funds via bank transfers (ACH/Wire), SEPA, and Faster Payments (FSP).
When withdrawing funds from Uphold, users need to pay a fee of $2.99 for withdrawing cryptocurrencies (excluding blockchain fees) and a $3.99 fee for bank withdrawal transactions.
On the other hand, Bitrue does not offer fiat withdrawals but users can still withdraw their crypto holdings.
Withdrawing Bitcoin comes with a 0.005 BTC fee, while ETH and USDT withdrawals have a fee of 0.01 ETH and $2.6 USDT respectively.
Uphold and Bitrue are two very different cryptocurrency exchanges each with it's unique features and value proposition.
In terms of user base, Uphold has grown to over 10 million users to a large extent because of their user friendly exchange and wide range of cryptocurrencies.
Bitrue on the other hand offers features that are more geared towards experienced traders with futures and ETFs trading with the option to lever up to 100X.
When it comes to KYC verification, Uphold requires it for all users while Bitrue only requires it for those who want to buy crypto or deposit fiat currencies on the platform.
When it comes to trading fees, Uphold charges a spread of 0.9-1.8% for trades above $100, while Bitrue charges a spot maker and taker fee of 0.098% for trading pairs with BTC, ETH and USDT.
Bitrue also offers a 30% discount for those that use their native BTR token as a trading pair.
In terms of depositing fiat currencies, Uphold supports three fiat currencies and offers several free deposit methods such as bank transfer while Bitrue does not offer fiat deposits or withdrawals at all.
Uphold is more suited for beginners who prioritize security, regulation a wide range of cryptocurrencies and a beginner friendly platform.
Bitrue is more tailored to those who want to quickly access a trading experience without KYC and with the ability to take on more risk.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
