Uphold Blog (2024)

FAQs

Can Uphold be trusted? ›

Uphold offers industry-standard security measures, including KYC verification and two-factor authentication. The majority of user funds are held offline in cold storage, which is generally more secure than storing funds online in hot wallets.

Uphold is good for crypto traders interested in discovering emerging coins and tokens and asset-to-asset trading. Compared to other exchanges, however, Uphold lacks advanced charting features and charges high fees.

Explore other competing options and alternatives. Other important factors to consider when researching alternatives to UPHOLD include security and customer service. The best overall UPHOLD alternative is Binance. Other similar apps like UPHOLD are Coinbase Exchange, Kucoin, Bittrex, and Kraken.

Newly-supported or small cap tokens are typically less liquid and incur higher fees. During periods of increased volatility, our fees will increase. We hold each price open for 18 seconds. Our pricing also factors in the risk we are taking by holding inventory.

Uphold typically charges a higher spread fee for lower-liquidity cryptos like Ripple (XRP) or Dogecoin (DOGE). They also charge higher spread fees during periods of market stress or high trading volumes. Previewing a transaction is the only way to see the actual spread fee at any given moment.

If you notice any suspicious transactions or changes to your account, contact us immediately! Enable Two-Factor Authentication (2FA): Two-factor authentication adds an extra layer of security to your Uphold account. Enable 2FA on your account to make it more difficult for fraudsters to access your account.

Uphold and Coinbase are secure exchanges offering a good selection of cryptocurrencies and features useful to traders, such as Uphold's AutoPilot and the Coinbase Earn program. But, people wanting a multi-asset trading platform should head to Uphold to buy precious metals, national currencies, and environmental tokens.

Debit card withdrawals are usually completed within minutes, but in some specific cases it may take up to 2 days. Cards compatible with instant withdrawals will have a lightning icon next to them for easy identification.

Is Uphold FDIC insured? Uphold is not FDIC insured but does offer its own insurance.

Uphold Fees

Although it does not charge any trading commissions, Uphold charges a spread fee on every cryptocurrency trade. For each crypto available to buy or sell on the platform, Uphold will list a bid-ask spread.

What percent does Uphold take? ›

Uphold earns a commission between 3% - 34% depending on the asset being staked. In order to ensure full transparency to our users, the estimated Annual Percentage Reward Rate (APRR) takes our commission into account. For more information, please refer to our Uphold Staking Terms & Conditions.

As a regulated financial services company, we are required to identify all Users for legal, regulatory and compliance purposes prior to such Users' use of our Platform.

Our top priority is to protect you, your money, and your information. Uphold is a community. We enforce stringent security standards across our platform - and continually educate our customers on the important role they have to play.

Uphold takes security extremely seriously, incorporating the robust industry standards to protect your funds at all times. You have 24/7 customer support to help you. We hold your keys so you don't have to worry about custody. Around 90% of our crypto is held in cold storage.

Why is Uphold closing its U.S. Card Program? Uphold is transitioning card providers in the U.S. which means its existing program can no longer continue. We expect to launch a new program in the near future and will share more details as soon as they become available.

Uphold and Coinbase are secure exchanges offering a good selection of cryptocurrencies and features useful to traders, such as Uphold's AutoPilot and the Coinbase Earn program. But, people wanting a multi-asset trading platform should head to Uphold to buy precious metals, national currencies, and environmental tokens.

Go to "Transact" in the application. Select your source of funds. Tap on "Select Destination." Under “My Cards”, select the card you want to withdraw your funds to.

Deposits of U.S dollars that are held in U.S. dollars on the Platform may be eligible for pass-through FDIC insurance covering the failure of the bank in which they are held in an amount up to $250,000 per depositor.

Do you pay taxes on Uphold? Yes, you have to pay taxes on Uphold. The exchange reports to the IRS and issues 1099 Forms to both the user and sends a copy to the IRS. In case you don't report your transactions on Form 1099-B, your transactions will be flagged automatically and you'll receive a Notice CP2000.