Uphold is a UK-based trading platform offering diverse assets like cryptocurrencies, fiat currencies, precious metals, and stocks. It features top cryptos like Bitcoin, Ethereum, and Solana alongside major fiat currencies like USD, EUR, and GBP.
According to the Uphold review conducted by TU experts, there are several notable features of the platform. These include a complimentary multicurrency wallet, a convenient debit card, and a wide range of options for depositing and withdrawing funds. Fees are subject to variation based on the assets and geographical region, with a maximum fee of 1.8%. Additionally, Uphold also offers an affiliate program for its users.
Pros and cons of Uphold
Traders Union presents a comprehensive analysis of the pros and cons of using the Uphold trading platform:
- Availability of trading in cryptocurrencies, tokens, fiat currencies, stocks, and precious metals.
- Offers numerous crypto-crypto and crypto-fiat pairings with hundreds of trading and exchange options.
- Provides a free multicurrency wallet and a cashback-linked debit card.
- Charges average commissions for cryptocurrency trades, ranging from 0.8% to 1.2% for USA and Europe, and up to 1.8% for other regions.
- Provides an API, institutional account solutions, and integrated exchange services
- No restrictions on trading strategies or large limits.
- Features an advanced functionality trading terminal.
- Incorporates automatic trading services such as AutoPilot for cryptocurrency and fiat
- Ensures security with two-factor authentication.
- Majority of client funds are stored in cold storage for enhanced security.
- Lack of direct investment solutions, accessible only via the company’s secondary services.
- Absence of demo accounts or dedicated features for beginner traders.
Expert Review of Uphold
TU experts provide a thorough analysis of Uphold, shedding light on its operation, strengths, and areas of improvement:
- Uphold, launched in 2015 and headquartered in London, is licensed and operational in the USA and Europe (License No. 09281410).
- The company has a clean record, with no fraudulent activities or defaults on client obligations.
- Technical experts affirm the platform’s stability, even during peak loads, with no detected vulnerabilities or failures.
- Uphold is a multifunctional exchange, facilitating trading in cryptocurrencies, coins, fiat currencies, stocks, and metals, all paired with national currencies for convenience.
- Transactions are swift, with trades completing in less than a second and instant fiat and cryptocurrency deposit/withdrawal options.
- Users receive a free multicurrency wallet and a debit card with a cashback. Uphold also features a standard referral program.
- Advanced and corporate users benefit from APIs, institutional account solutions, and comprehensive business environment integration.
- Trading strategies are unrestricted, and there’s an integrated exchange service.
- Uphold employs KYC verification and two-factor authentication, with part of user funds stored using the cold method, ensuring its reliability.
- Despite these features, Uphold needs more direct investment solutions, offering only third-party programs. No significant design flaws have been identified.
Top alternatives to Uphold
TU analysts revealed the following alternatives for Uphold:
- Bybit: A cryptocurrency derivatives exchange allowing users to trade contracts with high leverage, famous for its speed and reliability.
- OKEx: Renowned as a comprehensive cryptocurrency exchange, OKEx offers futures trading, spot trading, and digital wallet services.
- Binance: As the world’s largest cryptocurrency exchange by trading volume, Binance provides a wide array of crypto trading options.
- Huobi Global: A leading digital asset exchange, Huobi Global offers a secure platform for trading cryptocurrencies.
- KuCoin: Known for listing a wide range of cryptocurrencies, KuCoin is a popular exchange due to its user-friendly platform.
In addition, Bittrex is another significant player in the cryptocurrency exchange market. Offering a vast selection of digital assets, it sets itself apart with a commitment to security and seamless performance. It’s a well-regarded choice for seasoned and new traders due to its robust platform and extensive crypto listings.
In conclusion, Uphold offers a robust and multifunctional platform for trading a wide range of assets, including cryptocurrencies, fiat currencies, precious metals, and stocks. Although it lacks direct investment solutions and specific features for beginners, its focus on security, swift transactions, and extensive trading options make it an attractive option for many traders. For more information, visit the Traders Union website.