Uphold Review 2025

Our Verdict

Founded in 2014, Uphold is one of the oldest crypto exchanges, serving over 10 million users across 180+ countries. The platform connects to 28 trading venues, including centralized and decentralized exchanges, layer 2 networks, and rollups, offering more choices and faster transactions than any other U.S.-regulated platform. Uphold allows free fiat deposits through various methods, enabling users to trade over 260 cryptocurrencies, stablecoins, FX markets, and precious metals.

Uphold is more suited for beginners and hodlers than for active traders. It offers a native DCA tool and quick deposit options via bank cards, making it ideal for crypto novices, particularly those in the U.S. However, it lacks many advanced trading features and comes with high fees.

Uphold Pros and Cons

Is Uphold Right for You?

Not all traders are the same. Some seek easy apps for trading on the go, while others look for advanced features like leverage or social trading. When reviewing exchanges, we cater to all types of traders, from occasional to frequent. We divided all traders into seven main target groups.

Our thorough yet straightforward method ensures a clear understanding of trading strategies and their requirements. By assessing, ranking, and recording key factors, we determine how well the exchange meets the needs of each target group. We use three types of rankings: perfect match, good choice, and not recommended. Here’s our verdict:

Supported Countries and Regions

Uphold is available to users in over 180 countries, including major regions like the United States (excluding New York), the United Kingdom, Canada, Australia, and much of the EU. This wide availability is a significant advantage, especially since many crypto exchanges do not offer services to U.S. residents.

However, there are a few countries which Uphold doesn’t accept users from, including:

• Germany
• Netherlands
• China
• Russia
• Ukraine
• India

Uphold has also restricted certain regions where it previously offered services and can no longer provide new accounts to users in those areas. A full list of restricted regions can be found on Uphold’s website.

Uphold is licensed and regulated by major financial authorities, including FinCEN in the U.S., the FCA in the UK, the FCIS in Europe, and FINTRAC in Canada. These regulators ensure Uphold adheres to global anti-money laundering and financial compliance standards, offering users enhanced safety and protection.

Uphold Bonuses and Special Offers

Welcome Offers & Sign-Up Bonus: Uphold does not offer any welcome promotions or sign-up bonuses.

Bonuses: Uphold is currently running a limited-time promotion that rewards users with 3% back on BTC purchases over $100. This offer is not available to users in Florida, Canada, the UK, and Europe.

Referral Program: Uphold’s referral program offers $20 in BTC for each new user you refer who deposits and exchanges at least $100 into crypto. This differs from other exchanges, which typically offer commissions on trading fees from referred users.

Join Uphold using our affiliate link and get a 50% commission on trading fees for the first three months!

Uphold Background

Uphold was founded in 2014 and operates globally, with its headquarters in New York, United States. The platform is licensed and registered by financial authorities in the US, UK, Canada, and Europe, with the company registered in Lithuania as Uphold Lithuania UAB.

Originally founded as Bitreserve by Halsey Minor, who served as CEO until 2018, the company is now led by Simon McLaughlin, a University of Cambridge graduate. Unlike some exchanges, Uphold is fully transparent about its leadership structure, with detailed information readily available on its website.

This level of transparency is reassuring, especially when compared to platforms like PrimeXBT. Transparency is crucial when choosing an exchange to trust with your hard-earned money.

Security & Transparency

Proof of Reserves

Uphold stands out as one of the most transparent exchanges in the industry when it comes to Proof of Reserves (PoR). Unlike most exchanges, which only disclose reserves for a select few tokens, Uphold provides real-time data on reserves and liabilities for every cryptocurrency available on its platform.

The exchange maintains a reserve ratio of 100% or more across over 260 assets and never lends out customer funds. This real-time data is published on Uphold’s website and is updated several times per hour, offering a detailed breakdown of assets in reserve and corresponding obligations for each token on the platform.

Account Security

Uphold accounts can be secured with two-factor authentication (2FA), available through SMS or various authentication apps, including Google Authenticator, Microsoft Authenticator, and Authy. For mobile users, biometric authentication via fingerprint scanning or FaceID is also an option. However, desktop users must enter their password and 2FA code each time they log in.

In my case, I secured my account with Google Authenticator for 2FA and FaceID on my phone. The setup process for both was quick and straightforward. However, I was disappointed by the lack of biometric authentication for the desktop platform, a feature that competitors like Binance and Kraken offer.

General Reliability

Deposit Insurance: Uphold does not provide insurance coverage on client deposits. While this may seem like a significant drawback, it’s important to note that insurance for deposits is not common among cryptocurrency exchanges. Only a few platforms, such as Binance, offer some form of deposit insurance.

Bug Bounty Program: Uphold has a bug bounty program for reporting platform vulnerabilities. The program offers rewards of up to €6,000 ($6,700), which is higher than the industry average of $5,000. This financial incentive encourages users to report vulnerabilities rather than exploit them.

Corporate Communication Structure and Transparency: Uphold is fully transparent about its corporate leadership, providing detailed information about its founder and current leadership team directly on its website. This level of openness is reassuring, and sets Uphold apart from some competitors.

The company also maintains an active presence on major social media platforms, including Twitter, Facebook, Instagram, and LinkedIn. However, unlike many exchanges, it doesn’t have any official channels on Telegram.

Verified Trust Scores

Uphold differs from traditional exchanges because it does not offer spot, margin, or leverage trading. As a result, it hasn’t been reviewed by many of the trusted ranking websites we usually refer to, such as CoinMarketCap and CoinGecko. However, it has been evaluated by Skynet, which awarded it the highest rating, an AA, citing Uphold’s strengths in transparency, reserves, and security.

Know Your Customer (KYC)

KYC verification is mandatory on Uphold and must be completed during the registration process. The platform accepts various documents for KYC:

• Passports
• Government-issued ID cards
• Driver’s licenses

However, when I went through the process, my UK driver’s license was not accepted, so I had to use my passport instead.

Uphold also requires proof of income and wealth, including a bank statement from the last 90 days, to verify the source of funds. You’ll also need to indicate how much you plan to deposit monthly and outline your intended trading activities.

While Uphold’s KYC process might seem lengthy and inconvenient, it is designed to enhance safety and security by ensuring Uphold complies with Anti-Money Laundering (AML) regulations.

Is Uphold Safe to Trade With?

In summary, our findings indicate that Uphold can be regarded as having a high level of trust and stability, making it a reliable platform for trading. Here’s why:

• Asset Security: Uphold maintains a ≥100% reserve ratio across over 260 assets, with real-time data updated multiple times an hour.
• Regulation and Licensing: The platform is licensed and regulated by top-tier financial authorities in the US, UK, EU, and Canada, ensuring it adheres to the highest operational standards.
• Account Security: Uphold employs robust security measures, including two-factor authentication (2FA) and biometric authentication.
• Mandatory KYC: Uphold’s thorough KYC process helps to prevent bad actors from accessing the platform.

However, there are a few downsides to consider. Uphold lacks ratings from major industry ranking sites and does not offer insurance coverage on user assets — an uncommon feature but one that some competitors like Binance provide.

Trading Experience

Trading Test

For our trading test, we thoroughly evaluated the Uphold platform. Our process included signing up, completing the KYC (Know Your Customer) verification, logging in, depositing funds, and making withdrawals. We also tested the trading functionalities by exploring different trading pairs and conversions and assessed the associated fees for transfers and withdrawals. This comprehensive test allows us to provide an informed and reliable review of the exchange’s usability, features, and actual costs. Here’s our detailed analysis:

Step 1: Setting Up and Funding Your Account

The sign-up process for Uphold differs from other exchanges as it requires you to complete KYC verification during registration. Unlike platforms like Binance or Bybit, Uphold doesn’t allow you to sign in using third-party accounts like Google or Apple.

While the KYC verification was relatively quick, it took me a few attempts. Uphold didn’t accept my UK driver’s license, so I had to retry with my passport. Additionally, Uphold asks for your Sources of Income and Proof of Wealth, which took over 24 hours to process. This delay might be frustrating for users eager to start trading immediately.

Depositing crypto assets via crypto networks to your Uphold is quick and easy, with Uphold supporting a wide variety of tokens and networks for deposits.

During my testing, I transferred LTC from Bybit to Uphold. Uphold didn’t charge any wallet creation fees or enforce a minimum deposit amount. My LTC deposit was confirmed in just 5 minutes, far quicker than industry leaders like Bybit, Kraken, and even Binance.

Initiating a fiat deposit was even simpler than making a crypto deposit. Using Apple Pay, I was able to instantly add funds with no deposit fees. I deposited $12, which credited my account with 11.97 USDC, it is a very reasonable conversion fee from fiat to crypto. This method is much faster than SEPA transfers, which can take up to three days.

Uphold doesn’t charge for fiat deposits via Apple Pay, Google Pay, or credit/debit cards, so I highly recommend using this option.

Step 2: Trading

Trading on Uphold differs from traditional crypto exchanges. On most traditional exchanges, you typically see a price chart along with data like the order book and recent trades. In contrast, Uphold simply offers a dropdown menu where you select the assets you want to convert and specify a price if using limit orders.

While the platform does allow you to set limit orders, the fees are notably higher. For instance, I placed a limit order to sell LTC for USDC, and while it was executed instantly and filled completely, it cost me $0.99, significantly more than on exchanges like Binance or Bybit.

Opening a new position is similarly straightforward. I searched for LTC and set a new limit order with a stop loss. However, unlike traditional exchanges, Uphold doesn’t allow you to set precise take profit or stop loss levels, enforcing a minimum stop loss of 6%.

Step 3: Withdrawal and Review

The final part of the trading test involved withdrawing LTC over the Litecoin network. Uphold charged a withdrawal fee of 0.003 LTC ($0.19), which is significantly more than Binance’s 0.0001 ($0.007) withdrawal fee over the Litecoin network. However, Uphold processed my withdrawal quickly, and my transaction began confirming in my Binance wallet in around 10 minutes.

I did have some problems when trying to make a fiat withdrawal on Uphold. When I first went to make a withdrawal, Uphold prevented me from doing so by saying my account was restricted. Unfortunately, given that Uphold only offers support via email, this issue took several days to resolve, and I was not given an explanation as to why my account was restricted in the first place.

After resolving my account restriction, withdrawing fiat to my bank account was straightforward. I selected LTC for withdrawal and chose my bank account for the transfer. Since Uphold doesn’t support SEPA Instant, EUR transfers can take 1-3 days, so I opted for an FPS transfer, which credited my GBP account within seconds.

Desktop Version

Uphold’s desktop platform is user-friendly, ideal for beginners starting to invest in crypto, FX, and precious metals. However, the absence of advanced charting, technical indicators, and drawing tools makes it unsuitable for experienced traders seeking advanced technical analysis features.

I tested the platform on Safari and Google Chrome, and it ran smoothly without any bugs. However, I encountered an unrelated issue where my account was restricted without explanation, preventing fiat withdrawals. This was a problem with Uphold itself rather than the desktop platform. Given Uphold’s slow response times via email, this issue took just under two days to resolve.

The desktop platform has a simple interface that displays your watchlist, recent trades, portfolio overview, and an order form for opening new positions or setting up limit orders. This straightforward layout is ideal for beginners, providing essential information without the need to navigate through multiple menus or screens.

Placing Trades

Placing trades on Uphold is easy and intuitive. The order form, identical to the mobile version, is simple and user-friendly. Uphold’s “Anything to Anything” feature simplifies the trading process by allowing users to directly convert one asset into another without needing to first convert to a base pair, like BTC or USDT, as required on traditional crypto exchanges. Additionally, for limit orders, you can choose a Time in Force option, such as Day Orders, GTC, or GTD. The streamlined design keeps the process straightforward without overwhelming users with too many options.

Uphold’s order options are more limited compared to exchanges like Binance or Bybit, which offer a wider range of order types like TWAP, Scaled Orders, and Iceberg. This may restrict certain trading strategies. Additionally, stop losses and take profits can only be set by percentage, not by specific price, with a minimum stop loss of 6%, which may hinder precise risk management.

My Key Takeaways After Testing Uphold Desktop

Uphold’s desktop platform is ideal for beginners seeking a straightforward, user-friendly experience as they start investing in cryptocurrencies. The process of depositing funds and placing trades is designed to be simple, making it easy for those with no prior crypto trading experience to navigate.

However, as an experienced trader, I found the platform unsuitable for serious trading. It offers no advanced charting tools, indicators, or order book data and doesn’t allow for fine-tuning order types or setting precise stop losses, limiting its appeal for more advanced traders.

Mobile App

Uphold provides mobile apps for both iOS and Android, delivering the same seamless trading experience as its desktop platform. The mobile app features an intuitive user interface that’s just as easy to navigate without losing any functionality compared to the desktop version.

A key feature of the app is the integration of Uphold Vault, allowing users to store crypto in an assisted self-custody wallet for enhanced security and control. Currently, only Bitcoin and XRP are supported, but it will be interesting to see how quickly Uphold expands the vault to include more networks and tokens.

My Key Takeaways After Testing Uphold on Mobile

Uphold’s mobile app offers a similar experience to the desktop platform and includes several useful features, such as:

• Integrated Uphold Vault. Assisted self-custody for better control over assets with Uphold’s support in case of lost keys.
• Clear portfolio overview. Provides a detailed breakdown of assets and tracks portfolio growth over time.
• Easy token discovery. Categorizes tokens by industry, helping users discover new assets based on their interests.

In my testing, the app performed flawlessly, delivering a smooth trading experience. It’s ideal for beginners, offering digestible background information on each asset before investing. However, like the desktop version, it lacks features like advanced charting and custom price alerts, making it hard to recommend for experienced traders.

Fees

Uphold Spot Maker/Taker Fees

Uphold does not use the industry-standard Maker-Taker model for its trading fees. Instead, fees vary based on the type of asset being traded. The trading fee for stablecoins and FX pairs is 0.25%. Trading BTC and ETH incurs fees between 1.4% and 1.6%, while altcoins and metals carry fees ranging from 1.9% to 2.95%.

Uphold’s fees vary based on liquidity and market volatility, with the final price displayed before confirming a trade. However, its spot trading fees are much higher compared to competitors. Trading altcoins on Uphold can be up to 29.5 times more expensive than on platforms like Binance or Bybit, which both charge a flat 0.1% for spot trading, regardless of the cryptocurrency.

Although Uphold doesn’t use a typical spot maker-taker fee structure, we calculated the average fees for popular coins across three distinct tiers to compare them with competitors. This method provides a clear view of the fee structures and savings opportunities for traders of all levels.

Deposit Fees

Fiat Deposits: Uphold offers a wide range of fiat deposit methods with competitive fees. Deposits via ACH, SEPA, and FPS transfers are free, which is a welcome benefit since industry leaders like Binance and Bybit charge for FPS/SEPA deposits.

For UK and European users, I recommend using Apple/Google Pay for deposits as they are fee-free and fast. For US users, wire transfers can be expensive for amounts under $5,000, so ACH is a better option to avoid those fees.

Crypto Deposits: Uphold offers free deposits, and in our testing, we found that they required fewer network confirmations than exchanges like Binance. This meant that our deposits were confirmed much faster than on competing platforms.

Withdrawal Fees

Uphold provides a range of withdrawal options, including free withdrawals via ACH, SEPA, and FPS, which sets it apart from exchanges like Binance and Bybit. Additionally, Uphold allows withdrawals to bank cards with a fee of just 1.75%, whereas platforms like PrimeXBT charge 5% for the same service — a significant cost difference.

Are Uphold Fees Competitive?

Uphold’s convenience may appeal to beginner crypto investors, but its fees are a significant drawback for active traders. While platforms like Binance, Bybit, and Kraken offer spot trading fees as low as 0.1%, Uphold’s fees can go up to 2.95%. Although free fiat deposits provide some savings, they are quickly offset by the high transaction costs.

For lower fees, I personally recommend trading large-cap coins like BTC or ETH, which tend to have less slippage.

Available Cryptocurrencies

Since Uphold is not a traditional exchange, its liquidity relies on the 28 trading venues it connects to. While CoinMarketCap hasn’t assigned a liquidity score to the platform, I didn’t encounter any liquidity issues during my testing, and all my orders were filled without problems.

In my opinion, despite Uphold offering fewer cryptocurrencies than some of its competitors, it still provided all the tokens I was interested in, particularly those in the emerging AI and RWA sectors like RNDR and ONDO. The platform also supports a variety of stablecoins like USDC, EURC, USDT, DAI, and PYUSD, which are helpful for managing funds during market volatility. This balance makes it a suitable platform for both beginner and advanced traders.

Deposits & Withdrawals

Uphold Deposit Options

Fiat One-Click Buy: Uphold’s instant buy feature allows users to purchase any cryptocurrency on the platform using a credit/debit card or Apple/Google Pay. The service is quick and user-friendly, comparable to similar features offered by competitors like Binance and Bybit.

Minimum and Maximum Limits vary based on the payment method.

My experience depositing fiat currency to Uphold was seamless. I primarily used Apple Pay for instant deposits without any fees, making it the fastest and most convenient method. I highly recommend this option, especially if you’re in a region that supports EUR or GBP for zero deposit fees.

Uphold Withdrawal Methods

The withdrawal process on Uphold is straightforward, using the same methods as deposits, except for Apple/Google Pay and Wire Transfer.

USD and GBP users can make instant withdrawals via ACH and FPS, while EUR users will need to wait 1-3 days for a SEPA transfer. As an EU-based trader, I typically rely on SEPA Instant transfers for instant EUR transactions. However, since Uphold doesn’t support SEPA Instant, EUR transfers can take 1-3 days to process, unlike the seconds it takes on platforms like Binance. To avoid delays, I used GBP transfers via FPS, which were instant.

Note that bank withdrawals require an initial deposit from the same bank.

Uphold Daily Withdrawal Limits

Uphold is one of the only exchanges to have unlimited fiat withdrawals, albeit this is only available for USD withdrawals via Wire Transfer. GBP and EUR users have a £/€ 25,000 daily withdrawal limit via SEPA and FPS transfer. Users can also make unlimited withdrawals via crypto networks, something that is not offered by many exchanges.

Customer Service

Uphold Customer Service Test

To evaluate the quality of customer services for diverse user needs, we created a unique trading test. We personally contact support using all available methods and present hypothetical problems that users might face. Our evaluation concentrates on how quickly they respond, the quality of the help provided, and whether we can talk to a real person rather than a bot. This method effectively measures the capability of customer support to assist both active traders and casual investors.

My experience with Uphold’s customer service was disappointing. Without a live chat option, I submitted our standard set of questions through their email contact form. It took over an hour and a half to receive a response, and when I finally did, three out of my five questions were left unanswered.

This is a stark contrast to the customer support provided by competitors like Binance and Kraken, both of which provide 24/7 live chat and offer much more detailed and prompt responses. Reliable customer support is crucial when choosing an exchange, especially for those new to crypto. Unfortunately, Uphold falls significantly short of this standard.

FAQ