Uphold Exchange Platform Review

Founded in 2014, Uphold is a digital finance platform that has grown to serve over 10 million users across more than 180 countries, including the UK. Uphold users can engage with over 300 cryptocurrencies, stablecoins, various fiat currencies, and even precious metals.

Uphold operates with a “100%+ reserved” model, making its assets and liabilities publicly viewable in real time. This commitment is reinforced by its strong regulatory compliance, including being registered with the FCA. The platform is particularly well-suited for beginners and long-term holders due to its user-friendly interface and features like the native dollar-cost averaging (DCA) calculator.

If you plan on making Uphold your crypto trading platform of choice, you will have an easy time topping up your account. UK clients can pick from FPS, SEPA transfers, bank cards, and mobile wallets. Depositing via crypto is another option.

Highlights of Uphold

• Vast Asset Selection: Uphold provides access to over 300 cryptocurrencies, including major coins, altcoins, and stablecoins. In addition, Uphold features commodities and fiat trading.
• Low Entry Barriers: The platform enables deposits starting from a mere £10 for those using bank cards or mobile wallets, with low minimum withdrawal amounts for Bitcoin Cash (0.0003 BCH), making it highly accessible.
• Competitive Staking Rewards: Uphold offers attractive staking opportunities on numerous digital assets, with APY rates reaching up to 16.1% for certain cryptocurrencies.
• User-Friendly Mobile Experience: Its dedicated mobile applications for iOS and Android are highly rated, praised for their broad investment options and numerous features.
• Flexible Funding Methods: UK clients can deposit funds via various options, including debit/credit cards, FPS, SEPA transfers, Apple/Google Pay, and cryptocurrencies.
• Developer Integration: Uphold supports API access, allowing developers and advanced users to build custom trading solutions and integrate with third-party applications.
• Regulatory Compliance: The platform is registered with the FCA and adheres to anti-money laundering regulations, ensuring a secure and compliant trading environment.

Advantages and Disadvantages of Uphold

Available Markets and Products at Uphold

Uphold stands out as a versatile digital money platform that simplifies global financial services, allowing users to seamlessly move, convert, hold, and transact across diverse asset classes. The platform prioritises ease of use and accessibility, enabling users to manage a broad portfolio from a single interface, making for a streamlined experience.

Cryptocurrencies

Uphold provides an exceptionally wide selection of cryptocurrencies, boasting support for over 300 digital assets. This extensive range includes prominent cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), alongside a vast array of altcoins, utility tokens, and stablecoins. This broad choice positions Uphold among the top exchanges for cryptocurrency investment selection and flexibility in digital asset trading.

• Supports popular digital currencies like Bitcoin and Ether.
• Offers an extensive selection of altcoins, including XRP, BNB, Tron, and more.
• Facilitates trading of various stablecoins, with Tether being a notable example.
• Continuously aims to add emerging tokens.
• Digital currencies are categorised into three sections: Top gainers, Biggest losers, and Recently added.

Commodities (Precious Metals)

Beyond digital currencies, Uphold extends its market reach into tangible assets, specifically precious metals. Users can buy, sell, and trade physical commodities such as gold, platinum and silver directly on the platform.

This cross-asset trading capability is a core feature that other crypto-centred platforms typically lack, allowing for immediate exchanges between precious metals and other asset classes like cryptocurrencies or fiat currencies. It provides a unique opportunity for diversification within a single ecosystem, catering to investors looking to hedge their portfolios with traditional safe-haven assets.

• Silver, platinum, and gold are available.
• Seamlessly convert crypto to precious metals.
• Diversify portfolios with physical commodities.
• Offers direct cross-asset exchanges.

Fiat Currencies

Uphold also serves as a robust platform for managing fiat currencies. Its Market page features over 15 such currencies, including the British Pound (GBP), US Dollar (USD), Euro (EUR), and Canadian Dollar (CAD). The trading fee for FX majors stands at 0.3% at Uphold.

• Supports major global currencies.
• Enables conversion between fiat and other assets.
• Provides broad regional accessibility, with GBP being among the available currencies.
• Major market FX trading fee of 0.3%.

Staking

Uphold offers comprehensive staking services, enabling users to earn passive income by participating in network security. The platform supports staking for over 20 digital assets, providing competitive Annual Percentage Yields (APYs) that can reach as high as 16.1% for certain cryptocurrencies.

Staking rewards are credited weekly, compounding future earnings and offering a flexible way for users to maximise their holdings. Uphold ensures transparency in its staking operations, with clear details on estimated rewards and any commissions.

• More than 20 coins: Cosmos, Casper, Injective, Polkadot, Near Protocol, Bittensor, Solana, Songbird, Axelar, Kusama, Aptos, Flare, Oasis Network, Avalanche, Tezos, Polygon Ecosystem Token, Ether, Sui, Cardano, Hedera.
• Offers competitive APY rates of up to 16.1%.
• Rewards are paid weekly directly to accounts.
• Provides flexibility with easy unstaking options.

Trading Costs at Uphold

Uphold provides a transparent fee structure for its users, and it is crucial for traders to understand how these costs are applied across various services. While the platform prides itself on eliminating hidden charges and offers some appealing features like free deposits and withdrawals, its overall fee model for trading can be higher compared to industry competitors.

Below, you will find a detailed breakdown of Uphold’s fees, which will help you navigate the various costs associated with using this platform.

Trading Fees

Uphold employs a spread-based fee model rather than the conventional maker/taker structure seen on many exchanges. The cost of trading varies significantly depending on the asset type and prevailing market conditions.

For most stablecoins and major foreign exchange pairs, a competitive fee of 0.25% applies. However, trading Bitcoin (BTC) and Ethereum (ETH) incurs a higher fee, ranging between 1.4% and 1.6%.

The highest fees are observed for altcoins and precious metals, where charges can range from 1.9% to 2.95%. These rates can fluctuate based on liquidity and market volatility, with Uphold providing an in-app notification if spreads exceed 4%.

It is important to note that for trades under $500, an additional fixed fee of $0.99 may be applied, though exceptions exist for certain transaction types:

• Deposits with debit/credit cards, Apple Pay or Google Pay
• Withdrawals to debit cards
• Instant withdrawals to US bank accounts
• Trades with stablecoins
• Transactions with the Uphold Debit Card
• Transactions with trailing stop or take profit orders
• BAT transactions

Staking Fees

When participating in Uphold’s staking services, users should be aware that Uphold charges a staking fee in the form of a commission ranging between 20% and 25%. The exact percentage depends on the specific asset being staked.

Despite the said commission, Uphold’s overall staking APY rates remain competitive within the market, offering individuals a viable way to generate passive income from their cryptocurrency holdings. Users should always review the staking terms and conditions for precise details relevant to their chosen asset.

Non-Trading Fees

Uphold generally offers favourable conditions for deposits and withdrawals, standing out with free fiat deposits via methods like SEPA, FPS transfers, bank cards, and mobile wallets like Google Pay and Apple Pay, a benefit not always available on other platforms. Do note that debit/credit card deposits have maximum limits of £15,000 (daily), £15,000 (weekly), and £50,000 (monthly). The same applies to transactions involving mobile wallets.

As for cryptocurrency deposits, the exchange does not impose surcharges on these transactions. However, Uphold does caution that network fees may apply, with the costs depending on the blockchain network and the cryptocurrency itself.

For withdrawals, standard SEPA and FPS withdrawals are free. However, cashing out via debit card will result in a fee of 1.75%. Apple Pay withdrawals also carry a 1.75% fee. The minimum amount you can cash out is £10 or £20 (SEPA), while the caps stand at £25,000 (daily), £175,000 (weekly), and £700,000 (monthly).

Crypto cashouts cost $0.99 with the following assets that are eligible for withdrawals: DAG, XDC, BTG, SGB, FLR, TRX, SOLO, CSPR, COREUM, and KAS. As is the case with deposits, withdrawals are accompanied by network fees.

Uphold does not charge inactivity fees for clients, but zero-balance accounts that are idle for 90 days may be closed.

Finally, traders interested in taking advantage of Uphold Vault, the brand’s self-custody service, will need to pay a monthly subscription price of £4.99. This amounts to £49.99 per year.

Trading Platforms Supported by Uphold

Uphold’s trading platform is crafted for a seamless and intuitive user experience across various access points. It is available as a comprehensive web interface compatible with modern browsers, alongside mobile applications that UK clients can install from Google Play and the App Store.

For more advanced users and developers, Uphold also offers API access, enabling custom integrations and sophisticated trading solutions. The platform’s design features a clean layout that makes key functions like sending, receiving, trading, and converting assets easily discoverable.

Uphold is particularly well-suited for beginners or casual investors due to its straightforward “Anything to Anything” trading model, which simplifies buying and selling various assets without complex steps. While this convenience may come with higher fees compared to some competitors, Uphold maintains full transparency regarding its fee structure, so there are no hidden costs. It allows users to trade a diverse range of assets, including cryptocurrencies, utility tokens, national currencies, precious metals, and stablecoins, all from a single, user-friendly environment.

Mobile Trading at Uphold

Uphold offers a comprehensive mobile trading experience through its dedicated applications for both iOS and Android devices, designed to mirror the functionality and intuitive interface of its desktop platform. These apps ensure that users can seamlessly manage their portfolios, execute trades, and access various financial services on the go.

Key features include:

• An easy-to-use coin search
• Real-time market discovery with trending tokens categorised by industry
• Clear portfolio overviews that track asset balances and performance over time.

The mobile app also integrates the Uphold Vault, providing an enhanced security option for certain cryptocurrencies through an assisted self-custody wallet, with plans to expand support for more networks in the future. While the app is an excellent tool for beginners, offering digestible background information on each asset, it currently lacks advanced features such as sophisticated charting tools or custom price alerts, making it less suitable for experienced, active traders seeking in-depth analysis capabilities.

In addition, the UpHODL Web3 Wallet is also mobile-friendly. It can be installed on devices running either Android or iOS.

Account Types Available at Uphold

Uphold offers distinct account types designed to cater to the varied needs of both individual cryptocurrency enthusiasts and sophisticated institutional investors. Each provides a unique set of features and benefits for navigating the dynamic digital asset landscape.

Individual Accounts at Uphold

For individual users residing in the UK, Uphold provides a robust and user-friendly platform that simplifies access to the cryptocurrency market. This account type allows users to easily engage with over 300 different cryptocurrencies, including the opportunity to discover and trade emerging tokens before they gain widespread listing on other exchanges, providing a potential edge in the market.

A cornerstone of the individual account experience is its emphasis on transparency; Uphold distinguishes itself by openly publishing its asset and liability reserves in real-time, fostering a high level of trust by demonstrating a fully reserved and secure environment for customer funds. Users can also enhance their crypto holdings through staking.

Furthermore, the platform offers a uniquely flexible trading experience, enabling seamless, one-step conversions between any supported assets, which simplifies complex trades that might require multiple steps on other platforms. The Uphold Card further extends this flexibility, and the introduction of “Assisted Self-Custody” through Uphold Vault provides an additional layer of security and control.

• Diverse Staking Opportunities: Offers a way to earn competitive annual yields, up to 16.1%, by staking more than 20 distinct cryptocurrencies, with the flexibility to instantly commit and retrieve your assets.
• Early Token Access: Users gain an advantage by trading new and significant digital tokens often before they become available on competing platforms.
• Unwavering Transparency: Uphold publicly displays its asset and liability information every 30 seconds, reinforcing its commitment to a fully reserved and transparent financial ecosystem.
• Simplified Trading Mechanics: Clients can execute trades effortlessly with Uphold’s unique one-step conversion feature, allowing direct exchanges between any supported digital asset or traditional currency.
• Flexible Spending with Uphold Card: Uphold Card offers a chance to utilise cryptocurrency holdings for daily purchases. It offers GBP cashback rewards, zero foreign transaction fees, and compatibility with Apple Pay and Google Pay.
• Enhanced Self-Custody with Vault: Clients may secure their digital assets with the Uphold Vault, a feature requiring two keys for transactions, giving users significant autonomy over their private keys.

Institutional Accounts at Uphold

Uphold’s Institutional offering is meticulously designed to provide sophisticated tools and services for organisations navigating the complexities of the new digital asset economy. Central to this offering is an advanced token discovery methodology, driven by in-depth research to identify fundamentally valuable new digital assets early, providing institutional clients with strategic insights.

The Uphold Ascent platform is a key differentiator, engineered to provide unparalleled liquidity by routing orders across a vast network of over 30 diverse trading venues, including centralised exchanges, decentralised exchanges, and Layer-2 solutions.

The platform’s capabilities are geared towards optimal execution, facilitating large order placements and liquidations with minimal price impact, a critical consideration for institutional-scale transactions. This is further bolstered by a team of seasoned trading experts who bring extensive experience from traditional finance (CeFi), decentralised finance (DeFi), and high-frequency trading, offering invaluable expertise and support.

Uphold’s commitment to transparency extends to its institutional services, with published real-time reserves providing confidence and accountability. The robust infrastructure supports institutional requirements for deep liquidity, comprehensive asset access, and expert-backed trading strategies.

• Strategic Token Identification: Uphold’s proprietary research and due diligence process allows institutional investors to pinpoint promising new digital assets with strong fundamental value early in their lifecycle.
• Extensive Liquidity Aggregation: The Uphold Ascent platform has the ability to smart route orders across over 30 varied trading venues, including CeFi, DeFi, and Layer-2 blockchains, ensuring access to the deepest liquidity available.
• Broad Asset Accessibility: Offers exposure to the digital asset market with access to more than 280 distinct tokens, exceeding the offerings of many comparable trading desks.
• Precision Trade Execution: Investors can execute substantial orders with confidence, minimising price slippage due to Uphold’s deep liquidity pools and sophisticated routing algorithms.
• Specialised Trading Guidance: Access a dedicated team of trading professionals with deep expertise in centralised finance, decentralised finance, and high-frequency trading strategies, providing invaluable support for complex market operations.
• Robust Compliance and Security Framework: A highly compliant and secure environment, backed by Uphold’s commitment to real-time reserve transparency and adherence to stringent regulatory standards.

Customer Support at Uphold

Uphold’s users can reach out to the customer support team via an email contact form, which contrasts with the more immediate assistance offered by many of its competitors. While the platform provides a resource-rich support centre with articles on a wide range of topics (including account management, security protocols, and trading features), direct communication with an agent can be a slow process.

This reliance on email for personal inquiries is a notable drawback for users seeking prompt resolutions. Furthermore, the slow response times of the email-based support system can be particularly challenging for individuals new to the cryptocurrency space, where reliable and accessible guidance is essential.

Regulatory Background and Compliance

Uphold operates as a regulated financial services provider, adhering to strict compliance and anti-money laundering (AML) controls across multiple jurisdictions. The platform is registered with key financial authorities, including the FCA in the United Kingdom, FinCEN in the United States, FINTRAC in Canada, and the FCIS in Europe, which ensures it meets high global standards for financial integrity and security. The exchange is also registered in various US states, including but not limited to Florida, Nevada, and Alaska.

Beyond its regulatory registrations, Uphold has obtained several important certifications to validate its operational security and data handling practices. The platform is certified for SOC 2 Type 2, ISO 27001, and PCI DSS, which demonstrates its robust controls over information security, data processing, and payment security.

Furthermore, Uphold complies with major data protection regulations such as GDPR, CCPA, and the UK Data Protection Act, safeguarding user data and privacy rights globally. In line with Uphold’s compliance with financial supervisors, all customers are also required to complete a Know Your Customer (KYC) process upon sign-up.

It is important to note that while its fiat money services are regulated, Uphold’s cryptoasset services are considered unregulated in some regions, such as the UK. Therefore, they are not protected by consumer compensation schemes.

Client Security at Uphold

Uphold’s security infrastructure is built with multiple layers of defence to mitigate the extent of potential threats. This includes advanced encryption protocols to protect sensitive data. To ensure the ongoing integrity of its systems, Uphold engages security professionals to perform regular security audits.

All third-party vendors are subjected to thorough due diligence checks, with particular scrutiny on those handling confidential information. The company’s personnel standards are also rigorous, with all team members undergoing background verification and mandatory, recurring security and privacy training.

The Uphold Security Operations Centre operates around the clock, continuously monitoring systems and responding immediately to any detected anomalies. Uphold also encourages external scrutiny through a public Bug Bounty program, offering rewards for the responsible disclosure of security vulnerabilities.

Transparency and Regulatory Adherence

Uphold distinguishes itself through a commitment to radical transparency, a core principle that underpins its operational model. Proprietary technologies, such as the Reserveledger™ and Reservechain™, allow for continuous independent audits.

The system enables users to verify Uphold’s financial obligations, transaction flows, asset holdings, and overall solvency in real-time. By providing this level of insight, Uphold assures its users that their funds are fully reserved and secure, as the company never loans out customer money.

In addition to this transparency, Uphold is deeply committed to regulatory compliance. As established, the platform is registered as a Money Services Business with FinCEN in the United States and operates as an EMD Agent in the UK under the regulation of the FCA. The company implements stringent Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols to verify identities, detect suspicious activity, and comply with all applicable laws and regulations in the US, Europe, and internationally.

Account Protection and User Best Practices

While Uphold’s internal systems are fortified with robust security, the company also empowers its users to take an active role in protecting their own accounts. The platform strongly recommends and, in some cases, requires strong passwords and identity verification to secure transactions. The exchange offers several other ways to enhance security:

• 2FA: Two-factor authentication (2FA) is offered to protect against compromised login credentials. Users can enable 2FA through SMS or authenticator apps (e.g., Google Authenticator).
• Biometric Authentication: For mobile app users, biometric authentication like fingerprint scanning or Face ID is available.
• Email Verification: Email verifications are sent proactively to users when unusual account activity is detected.

Furthermore, Uphold educates its community on security best practices, such as recognising scams and phishing attempts, avoiding the use of public Wi-Fi for sensitive transactions, and always logging out of their accounts. The company also advises users to maintain up-to-date antivirus and anti-spyware software and to ensure a firewall is active on their personal computers to prevent unauthorised access.

Certifications and Industry Standards

Uphold’s dedication to security is validated by several prestigious certifications and compliance standards. The platform has successfully achieved SOC 2 Type 2 certification, a globally recognised standard that confirms Uphold’s controls and procedures are not only well-designed but also consistently operated to protect sensitive data and ensure reliable service delivery.

Additional certifications includes:

• ISO 27001 Certification: An international benchmark for Information Security Management Systems (ISMS). This certification requires robust security controls to defend against cyberattacks and demonstrates a commitment to meeting legal and regulatory obligations.
• Payment Card Industry Data Security Standard (PCI DSS) Certification: A security standard mandated by major payment card brands (e.g., Visa, Mastercard), which ensures that companies handling credit card information maintain a secure environment. Uphold was one of the first digital currency companies to achieve this certification.

What UK Traders Say about Uphold?

Uphold is generally well-regarded by users, earning a strong overall rating of 4.5 out of 5 stars on Trustpilot. Nearly 60% of respondents rated Uphold with 5 stars. Meanwhile, 24% gave the brand a 1-star rating, with a common point of frustration being the absence of a live human support line. According to clients, this has led to vague or delayed responses to user inquiries.

In terms of positive feedback, the platform’s user-friendly nature is frequently highlighted, making it a particularly attractive option for individuals new to cryptocurrency trading. Many have commended Uphold for its reliability, fast transaction processing, and the ability to list newer or less common digital assets earlier than some competing exchanges. Certain users also appreciate the platform’s robust protections and the option to use two-factor authentication.