Uphold Crypto Review - Features, Pros, Cons, and Competitors

Overview

This article provides a comprehensive review of the Uphold crypto exchange. By reading it, you’ll gain insights into what Uphold is, its features, and an evaluation of its key advantages and disadvantages. The article addresses common questions such as “Is Uphold a safe platform?” and “Is Uphold a recommended exchange?” Furthermore, this review aims to assist you in deciding whether Uphold is the right platform for trading and storing your cryptocurrency.

Following the Uphold exchange review, we’ll explore various alternatives to Uphold. It’s important to note that there are numerous options beyond the Uphold crypto app. While each alternative has its own merits and drawbacks, one stands out as particularly noteworthy, especially given the onset of a bullish market and the potential for 50x – 70x price rallies in alternative cryptocurrencies. So, we’ll wrap up the article with a brief comparison between Uphold and Moralis Money, providing you with valuable insights to make an informed decision in the current crypto landscape.

Art image - Uphold Review title

Full Uphold Crypto Exchange Review

Before we dive into the details of the Uphold crypto exchange, we encourage you to do your own research. Then, you’ll be able to form your own Uphold exchange review. So, feel free to explore the platform and the Uphold crypto app yourself. However, if you do explore the platform yourself, make sure to do so with a small amount of money. You can visit and create your own account on the official website of the Uphold crypto exchange:

Official Website of the Uphold Exchange platform

As you can see in the above screenshot, the Uphold site offers the “About” menu option. So, by clicking on that option, you can learn the basics about the platform and its leadership team:

Leadership team outlined on the Uphold About is page

Furthermore, you can find the link to frequently asked questions and answers in the website’s footer menu. However, make sure to keep in mind that all the information on the Uphold website aims to present the exchange in the best possible light. Hence, they are not a proper substitute for an Uphold exchange review.

With that said, let’s dive into our Uphold crypto review!

What is Uphold? Exploring the Uphold Exchange

Uphold is a versatile multi-asset trading platform established in 2015 and based in Lithuania. It integrates the functionalities of a cryptocurrency exchange, a forex trading app, and an online brokerage. Furthermore, the Uphold crypto exchange allows users to buy, sell, and trade over 250 digital currencies, including cryptocurrencies and fiat currencies. While it once offered equity and precious metals trading, these features are discontinued for US and European customers.

Uphold stands out for its user-friendly interface, quick account setup, and the ability to connect directly to bank accounts or credit cards. However, its notable spread fees, especially for low-liquidity cryptocurrencies, make it less appealing for active traders.

Uphold Products and features

Features

This Uphold crypto review wouldn’t be complete without an overview of the Uphold crypto exchange’s core features:

  • Multi-Asset Trading Platform: Uphold supports trading in over 250 cryptocurrencies and fiat currencies.
  • Ease of Use: Uphold offers a straightforward signup process, allowing users to start trading immediately after account creation and funding. The platform supports one-step payments, eliminating the need to wait for funds to clear.
  • Security: Uphold prioritizes security with advanced encryption, layered defenses, and 24/7 system monitoring. Regular audits, penetration tests, and a bug bounty program contribute to a secure trading environment.
  • Staking Rewards: Users in certain countries can stake eligible cryptocurrencies on Uphold, earning rewards for helping verify and run the blockchain. Cryptocurrencies like Ethereum, Tezos, and Solana are available for staking.
  • Uphold Card: Uphold offers a Mastercard crypto rewards card (currently exclusive to the UK) that allows users to spend their cryptocurrencies, precious metals, and other investments. Users enjoy 2% cashback in XRP on national currency expenditures and zero foreign transaction fees.
Art image illustrating pros and cons of Uphold Crypto Exchange

Pros and Cons

Pros:

  • Extensive Cryptocurrency Options: Uphold provides access to a wide range of cryptocurrencies. This gives investors many options to choose from.
  • Ease of Setup: The platform offers a fast and uncomplicated account setup process. This allows users to start trading fast and with low deposit minimums.
  • Multiasset Trading: Users can seamlessly trade various asset classes without converting to cash first. This offers flexibility in managing their investments.
  • No Withdrawal/Deposit Fees: In most regions, Uphold does not charge withdrawal or deposit fees. This provides cost-effective fund management.
  • Rewards Debit Card: The Uphold Mastercard offers rewards. This includes 2% cashback in XRP on national currency expenditures.

Cons:

  • High Spread Fees: Uphold’s spread fees, especially for low-liquidity cryptocurrencies, can be relatively high. As such, active traders find it less suitable.
  • No Volume Discounts: The platform does not offer trading volume discounts for larger purchases. So, what may be a small percentage adds up for large positions.
  • Limited Customer Support: Uphold’s customer support options are limited. Plus, there have been many reports of poor response times.
  • Discontinued Equity Trading: Reaching beyond crypto trading was one of Uphold’s advantages. As such, by removing equity trading, Uphold lost this edge.
Art illustration - a lock, cloud, and safe with the title: Is Uphold Safe?

Is Uphold a Safe Crypto Exchange?

So, is Uphold safe? Judging by the platform’s promise, the Uphold crypto exchange is as safe as possible. Let’s elaborate on this.

Determining the safety of Uphold as a crypto exchange involves considering several factors. For instance, according to Uphold, the exchange emphasizes security through sophisticated encryption, layered defenses, and 24/7 system monitoring. Uphold also guarantees they conduct regular audits and penetration tests and maintain a bug bounty program to identify and address vulnerabilities promptly. Plus, being a FinCEN-registered money services business in the United States and an electronic money issuer regulated by the FCA in the United Kingdom, Uphold complies with regulations.

Nonetheless, users can enhance their account security with two-factor authentication.

However, it’s essential to note that there have been reports from users claiming unauthorized access and fund losses. Of course, knowing which of these claims are true is hard.

All in all, while Uphold seems to be committed to user protection and regulatory compliance, potential users should exercise caution, as you should with every centralized exchange.

Should You Keep Your Crypto on Uphold?

The FTX fiasco is the largest scandal so far; however, there have been several other examples where people have lost funds they’ve kept on CEXs. So, you must be extra cautious when deciding to keep your crypto on any CEX.

Comparison of Uphold wallet and hardware wallets such as Ledger

Moreover, in general, we are strong believers in a decentralized approach. So, as indicated by the above image, your primary crypto storage should be reputable hardware crypto wallets. Then, you can connect those wallets with “hot” Web3 wallets to interest with dapps, including decentralized exchanges (DEXs).

So, despite the fact that our Uphold exchange review is not at all negative, we believe you shouldn’t keep your crypto there any longer than for the time of your trade, especially if you are dealing with significant amounts. 

Uphold Exchange Alternative – Top Uphold Competitors

Uphold Crypto Review - Competitors highlighted in table

According to CoinMarketCap, the above list represents the seven highest-scored CEXs at the time of writing. For now, Binance has by far the largest trading volume. It is safe to say that Binance is the most prominent Uphold alternative.

However, now that Uphold no longer offers stock trading, cryptocurrency trading is Uphold’s main focus. Plus, unlike Robinhood and eToro, where you can only speculate on crypto prices without actually owning them, Uphold does allow users to withdraw cryptocurrencies to their self-custody wallets. So, according to Uphold’s services, we believe that any reputable CEXs is a valid Uphold alternative.

If you are not familiar with the above-listed CEXs, you can get acquainted with the top ones in our article covering the best altcoin exchange platforms. However, before you devote your time to learning about CEXs, we highly recommend you focus on a decentralized approach to buying cryptos. In that regard, DEXs are your best bet. 

But that doesn’t mean you have to deal with rather non-user-friendly applications that most current DEXs offer. Instead, you can use the power of Moralis Money to buy any EVM-compatible token without breaking a sweat or the bank.   

What is Better than Uphold? Our Conclusion of the Uphold Crypto Exchange

Judging by the above-listed Uphold alternatives, several CEXs are better than Uphold. Of course, you also need to consider your local limitations, what is legally accessible to you, and what workarounds you are willing to explore. However, if there’s one thing you should take away from this Uphold crypto review and our answers to the “Is Uphold a good exchange?” and “Is Uphold safe?” questions, it is to focus on decentralized Uphold alternatives.

In this regard, all reputable DEXs are better than Uphold. Of course, their UIs may not look as good as the Uphold crypto app, but they are by no means unattractive or complicated to use. That said, as pointed out above, you do not have to deal with DEX interfaces when using Moralis Money. 

So, what is the ultimate decentralized Uphold alternative? It’s Moralis Money. You can learn more about this powerful tool below.

All in all, feel free to use the Uphold crypto exchange and the Uphold crypto app. By doing so, you’ll be able to experience Uphold’s features firsthand. And that is the only way for you to answer “Is Uphold a good exchange?” with certainty.

Uphold vs Moralis Money

Creating a completely objective Uphold crypto review by any individual is quite challenging. However, by compiling together multiple Uphold exchange review scores, we can get quite a solid indicator. Since Trustpilot is still one of the leading review platforms, we checked how the Uphold crypto exchange stands there.

And according to Trustpilot, 38% of Uphold crypto reviews maintain a single-star rating. That is quite concerning, in our opinion. Of course, it’s worth mentioning that there are also 38% of Uphold exchange reviews with a five-star score. Still, that gives Uphold an overall score of 3.3.

On the other hand, Moralis Money and Moralis Academy both have an overall score of 4.9 out of five. 

On the other hand, Moralis Money and Moralis Academy both have an overall score of 4.9 out of five. In many ways, comparing Uphold and Moralis Money doesn’t make a lot of sense. After all, one is a rather simple CEX, while the other is the ultimate blockchain analysis tool. However, since they both allow you to buy crypto, we thought it would be beneficial to compare them side-by-side. And this is the highlight of our Uphold vs Moralis Money comparison:

Uphold vs Moralis Money - Table showing pros, cons, trustpilot score, level of control, features, etc.

Note: If this is your first time hearing about Moralis Money, make sure to learn more about this ultimate on-chain analysis tool below.  

Meet Moralis Money

Art image - Moralis Money Logo on blue background

Moralis Money has a built-in instant crypto swap feature, which is extremely intuitive. Plus, this path of buying cryptos always ensures you get the best available price. However, the best part about Moralis Money is that the crypto-swapping feature is just a cherry on top. 

After all, Moralis Money is, first and foremost, a crypto breakout scanner or a crypto pump detector, if you will. It comes with several unique features, including Moralis Money’s Token Explorer, which allows you to spot the best altcoin opportunities. Plus, Token Explorer enables you to do so on autopilot and finally overcome crypto FOMO!

Furthermore, Moralis Money is also a crypto portfolio management tool, crypto volatility indicator, and more. For instance, those who opt for the Pro plan even access premium crypto education. Moreover, the platform has one of the most vibrant and advancing communities in the entire crypto space!

So, make sure to learn how to make the most out of Moralis Money today by watching the video below!

Uphold Crypto Review – Features, Pros, Cons, and Competitors – Summary

Today’s Uphold exchange review covered the ins and outs of this trading platform. We also explored many of the Uphold features. You can experience the latter via the Uphold website or the Uphold crypto app. Our Uphold crypto review also covered the main pros and cons of the Uphold crypto exchange. Plus, we answered the questions “Is Uphold a good exchange?” and “Is Uphold safe?” By answering these, you now know how to protect your assets.

In addition, today’s review reminded you that the Uphold crypto exchange or any Uphold alternatives offering custodial crypto wallets aren’t the best way to invest in cryptocurrencies. After all, self-custody wallets are the only way to truly own and protect your crypto tokens. This aspect is what makes Moralis Money the best Uphold alternative. 

There are many other advantages to Moralis Money. After all, it is the best tool to automate crypto pump signals and find the next 1000x crypto

Of course, you may still decide to take the Uphold crypto app for a spin, and there’s nothing wrong with that. In fact, we encourage you to do so. But make sure to keep the “Is Uphold a good exchange?” and “Is Uphold safe?” question in mind while exploring this CEX. By doing so, you’ll be able to come up with your own Uphold crypto review. And, even if you end up enjoying the Uphold crypto exchange, don’t forget to use Moralis Money to spot the best altcoin opportunities at any given moment! 

Visit the Moralis Money homepage or simply use the interactive widget below to experience the power of this awesome tool firsthand:

https://secure.gravatar.com/avatar/c2302e6fd5cb280211b39010cc15d17c?s=96&d=mm&r=g
WRITTEN BY Matic PircI am an SEO writer, a content creator, a digital marketing specialist, and above all an entrepreneur, with a strong passion for crypto. I believe blockchain technology has a massive potential in helping us create a better, more just, transparent, and globally united future.
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