Uphold Review | Is It The Best Exchange For Beginners?

When it comes to trading fees, Uphold charges a $0.99 USD fee for cryptocurrency transactions under $100 and a spread of 0.9-1.8% for trades above that. The spread in the US, EU, and UK is closer to 0.9%-1.2%.

While this may seem like a high fee compared to other exchanges, it's important to note that Uphold offers a unique feature: the ability to trade cryptocurrencies alongside traditional financial assets like stocks, ETFs, and commodities.

When compared to other exchanges, Uphold's trading fees fall somewhere in the middle. Binance, one of the largest crypto exchanges charges a maker and taker fee of 0.10% for spot trading.

While fees are an important factor to consider when choosing a crypto exchange, it's also important to consider other factors like security, user experience, and the variety of cryptocurrencies offered.

Uphold's unique feature of allowing traders to trade both crypto and traditional financial assets may be worth the slightly higher fee for some traders.

Uphold currently supports deposits with three fiat currencies which are USD, EUR, and GBP. Users can make deposits using their debit/credit cards, bank transfers, SEPA transfers, and Faster Payments (FSP).

One of the standout features of Uphold is that all fiat bank transfers are free of charge. However, Uphold does charge a 3.99% deposit fee with credit cards and a 2.49% deposit fee with debit cards, so users should keep this in mind when choosing their deposit method.

Compared to other platforms, Uphold offers a good range of deposit options and supports multiple fiat currencies. However, some users may find the deposit fees for credit and debit cards to be higher than other platforms.

Uphold offers a variety of fiat withdrawal methods including bank transfers (ACH/Wire), SEPA, and Faster Payments (FSP).

Fiat withdrawals are completely free on Uphold making it a great option for those who want to avoid high withdrawal fees.

Uphold prioritises user security with a multi-faceted approach combining sophisticated encryption, stringent personnel standards, and proactive threat monitoring.

One of Uphold's core security strategies involves the deployment of layered defences to limit the scope and depth of potential attacks, coupled with robust encryption methods.

These measures are consistently audited and tested by security professionals who conduct regular penetration testing to maintain the system's integrity.

Uphold's vigilance against potential threats is further evident in their 24/7 Security Operations Centre, which continually monitors systems and responds immediately to any detected threat.

They also run a public Bug Bounty Program, rewarding individuals who identify and report security vulnerabilities in their platform.

Uphold is PCI/DSS compliant which is a set of requirements developed by major payment card brands to ensure secure transactions.

Uphold has also developed numerous patent-pending and proprietary technologies, such as Reserveledger™ and Reservechain™, which are audited regularly by independent entities.

These technologies enable users to verify Uphold's obligations, transaction flows, assets, and solvency in real time, adding an extra layer of transparency and trust.

In terms of compliance, Uphold is fully compliant with the Office of Foreign Assets Control (OFAC) regulations, the Bank Secrecy Act (BSA), and other necessary reporting requirements.

Furthermore, as a FinCEN Registered Money Services Business (MSB) in the United States and an EMD Agent of an Electronic Money Issuer regulated by the FCA in the United Kingdom, Uphold demonstrates its commitment to compliance.