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Uphold Review

Uphold Review feature image

Updated on:

Written by: Michael Barton

Updated on:

Written by: Michael Barton

Michael has almost quarter of a century’s experience in the financial world. This includes trading and institutional sales trading, and in senior positions to VP of Global Equities, as well as Head of Trader Training, at companies including Merrill Lynch (SNC), Cargill Investor Services, and Goldman Sachs. Michael’s experience also extends to providing financial advice as a personal financial advisor in the UK.
This article has been fact checked by a member of the Wallet Savvy editorial team and complies with our editorial standards.

Interested in getting into crypto trading? Or perhaps you’re an experienced trader looking for a decent platform with more beneficial costs. Consider Uphold. This Uphold review assesses everything about it.

Trading in cryptocurrencies may be classed as highly speculative, but it is also gaining in popularity. However, because they are classed as unregulated investments in the UK, it can be challenging to find a reputable broker who will facilitate trading and holding of cryptocurrencies.

Which is where platforms like Uphold fill the void. Is Uphold a good choice for your crypto trading? What are the pros and cons of the platform?

I’ve taken a deep dive into Uphold, uncovering all you need to know before you open an account.

TLDR: Uphold Review

Uphold is a versatile and secure multi-asset platform, ideal for trading cryptocurrencies, fiat currencies, and precious metals.

You’ll find it easy to use with a range of valuable features. It scores well for safety and convenience, and we love the Uphold Card that allows you to spend cryptos like cash and integrate with your traditional spending.

It operates a spread-fee model, which might deter some crypto traders; but, with access to a wide range of assets and a user-friendly interface, Uphold is a good trade platform choice for all investors, and particularly beginners in the world of crypto.

*Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

What Is Uphold?

Launched in 2015, Uphold is a comprehensive financial platform offering a trading facility for cryptocurrencies, commodities, and FX.

If you want to trade cryptos like Bitcoin and Ethereum (as well as a host of smaller digital currencies) or traditional fiat currencies, or gold and silver, Uphold will help you diversify your investment portfolio beyond the conventional.

From a vision of bridging the gap between old-world financial systems to new-world investment opportunities, Uphold has developed into a financial platform with more than 10 million users in more than 150 countries around the world.

Uphold’s Unique Selling Points

So, what is it that sets Uphold apart in the crowded market of financial platforms? You might think it’s the breadth of assets available to trade on the system.

While this is indeed a plus, if you dig a little deeper, you’ll find distinguishing features include its support of multiple assets and something that could just usher in financial integration between crypto and fiat – the Uphold Card.

Multi-Asset Support

Most other crypto-trading platforms only offer crypto currencies. Uphold gives you much more, by giving access to precious metals and fiat currencies.

You’ll have a choice of more than 250 cryptocurrencies – including major coins, altcoins, emerging tokens, and stablecoins. In addition, you can trade in gold, silver, platinum, and palladium, as well as currencies (including, of course, dollars, pounds, and euros).

This range of assets is great for diversification, as well as giving you the ability to hedge against crypto volatility or take advantage of movements in the commodity market.

The Uphold Card

Here’s an amazing USP – a card that closes the gap between your digital coins and everyday spending.

The Uphold Card is a debit card that lets you use your cryptocurrency and other holdings just as you would the pounds in your bank account.

You simply present your Uphold Card for payment, and your digital assets are converted automatically behind the scenes to real-world currency to spend. Yep, no more messing around with multiple transactions to use your digital currencies like cash!

Uphold Pros & Cons

I wish that there was a single financial platform that did everything I need it to, but there isn’t. They all have their strengths and weaknesses, and Uphold is no exception.

Here are what I consider to be the advantages and disadvantages of Uphold:


  • First, while there are more than 3,000 cryptocurrencies available now, the range of cryptos on Uphold offers a good selection that should be sufficient for most avid crypto investors.
  • I also like the fact that you can trade precious metals and fiat currencies on the system – that’s great to diversify your portfolio, as well as gaining exposure to more speculative trades.
  • It’s easy to set up an account, too (more about this later) and, as I’ve already mentioned, you’ll love the Uphold Card.
  • Then there’s the ability to benefit from crypto staking – putting your cryptocurrency to work to earn a commission of between 1% and 13%.


Now, to the things that I find least appealing about the platform:

  • First on the list (which, to be fair, isn’t long) is that it doesn’t offer many advanced trading features. You’re not going to find sophisticated charting tools, and neither will you be able to post more complex orders. This said, it is certainly functional – just not very appealing if you want more in-depth analysis and greater trading capability.
  • You could also find that the variable spreads* can be confusing. Worse, they could result in higher fees than you might pay on other crypto platforms.
  • Its method of charging also means there are no discounts on fees, no matter how many trades and what volume you trade.

*Variable spreads – the difference between buying and selling prices.

*Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

How Does Uphold Work?

Uphold is both a trading platform and digital wallet: you can buy, sell, and store assets easily. Here’s a breakdown of how the system works:

Set up your account

Setting up an Uphold account is a straightforward process. You only need to input some basic personal details and verify your ID. Within minutes you could have your account ready to trade.

Fund your account

The next step is to fund your account. There are several ways to do this, though the most popular are using a credit or debit card or by direct bank transfer.


Your account is open and funded. You are now ready to trade in any of the assets offered on the platform. Buy the cryptocurrency you want to invest in, with just a few clicks.

Exchanging assets

With many trading platforms, if you want to switch from one asset to another (Ethereum to silver, perhaps, or Bitcoin to gold), you will first need to sell one asset, convert your currency, and then buy your preferred asset.

On the Uphold platform, you can simply do an asset exchange using its one-step conversion feature. This makes rebalancing your portfolio or moving from one asset to another super easy.

Stake cryptocurrency

Why hold your cryptocurrency and rely only on a rising price to make money on your holding? By staking eligible cryptos, you can earn interest, too. Depending on the crypto staked, this could be as high as 13%.

Now, this is as safe as the interest you would earn on money held in a bank account, but it is a valuable incentive to encourage you to hold your cryptocurrency within Uphold.

Use your Uphold Card

Just as you would use your high street bank’s debit card, you can use your Uphold card, spending your cryptocurrencies, precious metals, of fiat currency anywhere you can use a Mastercard.

No hassle, no fuss. Just swipe and spend, and all the conversion is taken care of for you.

How Good is the Uphold Trading Platform?

Uphold app screenshot trading

I’ve had a lot of experience with trading platforms, from helping to develop them to using them myself. One thing I can say is that if a platform is too complex to use, you’ll not only lose interest very quickly, but its complexity could also cost you money.

In short, no matter how good the rest of the offer is, if a platform is not user friendly it’s not a platform you should be using.

More good news here, because Uphold delivers ease of use with functional performance whether you’re new to cryptos or a seasoned investor.

I like the simplicity of its design. It’s been developed around the user, which is particularly good for novice traders.

The interface is clean and intuitive – you won’t have any challenges to navigate between the different functions, and you’ll soon be buying and selling with confidence.

However, while this trading and navigational function is a clear advantage for all levels of investment experience, if you’re a more advanced investor, you could find the lack of advanced analytical and trading tools a disadvantage.

Sure, straightforward buy and sell orders are easily executed; but if you want to execute a more advanced trading strategy using more complex order inputs, Uphold will leave you a little disappointed.

If you want to trade while you’re on the go, overall, you’ll be very happy with Uphold. All the platform’s features are available at your fingertips, providing you have internet connection.

Available on both iOS and Android devices, the app is every bit as user friendly as the desktop design. Again, I think this is great – it’s an unnecessary pain in the backside to have to relearn how a platform works because the developers have, quite frankly, been too lazy to ensure a seamless transition between desktop and smartphone.

This said, while the mobile app has received a heap of praise from users on Google Play and the App Store – especially for its user friendliness and reliability – it does still have its downfalls, with criticism centring around responsiveness during busy periods.

*Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

How Much Does Uphold Cost?

When you’re investing or trading, it’s crucial that you consider your costs. High fees and commissions can crush any profits that your excellent investment choices produce.

Uphold doesn’t charge commissions on trades. While this sounds like fantastic news, don’t be too overjoyed. Instead of commissions, it loads the spread – that’s the difference between buying and selling prices.

What is a spread fee model?

Thankfully, Uphold’s spread fee model is pretty easy to understand.

Instead of paying a fixed commission on your trades, the Uphold platform adds a spread to the buy or sell prices. What this means is that the cost of trading is built into the price of the asset.

Because of this, it’s crucial to understand how these fees work (and how they affect your trades) before you place orders.

Personally, I prefer the spread fee model. I like the simplicity of knowing the exact price at which I break even and move into profit, without having to allow for trading commissions.

I also find that trading with a spread and no commission can deliver lower costs. You may feel like me or, on the other hand, you may prefer predictable fixed commissions.

Uphold fees are typically:

  • Stablecoins and major market FX: 0.25%
  • BTC, ETH: 1.4% – 1.6%
  • Altcoins: 1.9% – 2.5%
  • Precious Metals: 1.9% – 2.5%

There are two things that I think you should also understand about the spread fee model.

The first is that spreads are affected by liquidity. The less liquid an asset is (lower volumes of trade), the wider the spread is likely to be.

Second, in volatile markets, spreads are likely to be wider. It’s not entirely uncommon for spreads to be more than 4%. This said, should this happen, Uphold puts a flag on the platform to help you decide whether to execute an order or not.

There are also other costs to be wary of:

  • To deposit cash into your account by a debit or credit card, you’ll be charged 3.99%
  • To withdraw on a debit card will cost 1.75%

It’s easy to avoid these extortionate deposit and withdrawal fees – simply use bank transfer.

Debit CardDeposit:

(Min $1 / Max $150 equivalent)

Withdraw: £2,500
Deposit: £3,500Deposit: £10,000

Withdraw: £10,000
Credit Card3.99%£500£3,500£10,000Instant
Apple Pay /
FreeWithdraw: £25,000UnlimitedUnlimitedInstant

*Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Costs – Uphold Vs Coinbase

It’s worth looking at how costs to trade through Uphold stack up against the gorilla in the crypto exchange market, Coinbase.

If you’re using a credit or debit card to fund your trading, you’ll be paying around the same fees (3.99%), and both platforms charge network fees for crypto withdrawals, too.

It’s on the spreads and trading commissions where you’ll notice the difference. For example, while the Uphold spread on Bitcoin is around 1.5%, it is only 0.5% when trading on Coinbase.

But this doesn’t mean it’s cheaper to trade on Coinbase, because you’ll also pay a per-trade commission of up to 1.49%.

This could mean that Uphold is much more cost-effective for traders and investors, but you’ll need to consider your trading patterns and volumes to make a personalised comparison.

The Uphold Card

Uphold debit card

The Uphold Card is a debit card that lets you use your cryptocurrencies as ‘spending money’.

You can use your Uphold Card exactly as you would your bank debit card – to withdraw cash from an ATM, or buy goods or services from a shop, restaurant, hotel, or online retailer.

You can also use your Uphold Card abroad without incurring foreign transaction fees. You’ll receive an instant notification of your card spending to your Uphold app, too, making tracking transactions easy.

It’s like your cryptocurrencies are real money! There’s a rewards feature, too: 1% cashback on card purchases funded by a national currency balance.

One thing I don’t like about this card is that you’ll be charged £2.50 for an ATM cash withdrawal in the UK, and £3.50 for ATM cash withdrawals abroad.

Customer Support

In the big scheme of things, the cryptocurrency market is very new. It’s continuing to grow rapidly and can be very volatile.

Customer support is crucial, and Uphold’s approach recognises this. There are multiple channels to access assistance, from its online support centre to its social media. Whatever way you prefer to receive help, Uphold offers it.

Its Support Centre is a comprehensive resource, with a huge number of articles, guides, and FAQs. It’s where you’ll find helpful content that walks you through a range of topics, from account set-up to trading and security.

It’s your first port of call for help. It’s easy to navigate and contains the answers to most questions you might need to ask.

If you have a more complex query or issue, your next option is to use Uphold’s contact form. Submitted questions are usually answered within 24 hours, which is typically useful for issues related to technical or account issues.

Uphold are also active on social media, and you can reach out for support on platforms like X (formerly Twitter). Often this is a quicker way to get in touch, though I’d recommend that you only go this route for general questions, and not if you need detailed help.

Feedback about customer support is mixed, reflecting the different experiences of users. Positive reviews include comments on the helpfulness of the support articles and the responsiveness of the support team via the contact form. On the other hand, some users have reported poor response times during peak periods.

Overall, while there is room for improvement, I think you’ll find customer support is more than adequate.

Is Uphold Safe To Use?

If it’s not safe to use, it doesn’t matter about user experience, access to assets, and low costs to trade. You don’t want to load investment risk with platform risk.

The first thing to say is that Uphold is regulated by the Financial Conduct Authority (FCA). It complies with anti-money laundering (AML) rules, Know Your Customer (KYC) regulations, and data protection regulations like the EU’s General Data Protection Regulation (GDPR).

In addition to all of this, Uphold also helps to protect you with:

  • Two-Factor Authentication (2FA), requiring you to verify your identity through a secondary app (like you do when making bank transactions)
  • Encryption of data during transmission, helping to protect your data from being hacked
  • Cold storage of cryptocurrencies, offline and away from the threat of being hacked

In summary, while the digital finance sector is prone to security challenges, Uphold is dedicated to providing a safe and secure trading environment for its range of assets.

How do You Open an Uphold Account?

Opening an Uphold account couldn’t be easier. Start by visiting the Uphold website, and then:

  • Click on the ‘Sign Up’ button in the top right corner.
  • Enter your email address and create a password.
  • Provide your basic personal information (name, address, country of residence, etc.).
  • Verify your identity with a photo ID and proof of address (you may have to take a selfie, too).
  • Link a funding source – for example, your bank account.
  • Enable two-factor authentication for extra security.
  • Start trading.

Yes, opening an Uphold account really is this easy!

*Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

7 Tips to Get the Best Out of Uphold

You’ve opened an account, and you’re raring to get started with your first trades. Woah! Hold your horses. Here are my tips to help you use Uphold successfully:

1. Keep Your Account Secure

For all its inbuilt safety features, there are simple security measures you should take to protect your portfolio from unauthorised access. For example, update your password regularly, and never use the same password across multiple apps.

2.  Engage With the Uphold Community

Listen to what other Uphold users are saying on social media. You’ll get a lot of tips about trading strategies, and learn a lot from the experiences of others.

3. Plan Your Trades

Don’t get carried away on the platform. Every trade you execute should align with your financial goals and long-term investment strategy. Remember, if you don’t have a plan to succeed, then you are planning to fail.

4. Check the Spreads

Spreads can be volatile, so always check the spread before executing an order to make sure you are not overpaying.

5. Diversify Your Portfolio

Cryptos are high-risk/high-reward assets. As with all investments, by diversifying your portfolio you will reduce risk. So don’t put all your eggs in one basket.

Instead, consider investing in fiat currencies and precious metals as well as cryptos on the Uphold platform.

6. Take Advantage of Staking

Cryptocurrencies don’t pay interest or dividends in the same way that other securities do. But by using the staking feature, you can earn interest from eligible crypto holdings. Don’t ignore this passive income.

7. Use The Uphold Card

Make purchases from crypto holdings, and integrate your traditional finances with your digital wallet.

By following these tips, you can navigate Uphold more effectively, making informed decisions that align with your financial goals. Whether you’re a seasoned trader or new to the world of digital finance, these strategies can help you get the most out of what Uphold has to offer.

A Fly in the Ointment?

There is a class action lawsuit in process against Uphold. This was filed in July 2022, and is ongoing today.

Some allege that cryptocurrency was stolen from them because of Uphold’s negligence, and others that customer service has ignored them when wishing to discuss stolen crypto funds.

In August 2023, a district court trimmed back damage claims, but said the class action could continue all the same.

Alternatives To Uphold

Whatever your investment approach is, I would always encourage you to do your research and compare options before committing. Choosing a platform for your cryptocurrency trading is no different.

Here are a few trading platforms you might also consider for crypto investment:


A leading crypto exchange, Coinbase offers a huge range of cryptocurrencies to trade. With a user-friendly interface, this crypto exchange is a popular choice among crypto investors.


Binance includes a comprehensive range of trading tools and features that will appeal to you if you are an experienced crypto trader. You’ll find the advanced charting options and competitive fee structure a delight.


eToro is among our pick of the best investment apps (UK). Great for beginners and ‘social traders’, you’ll learn a lot from the sharing of trading strategies.

As well as cryptos, eToro also offers trading access to stocks, commodities, and forex, making it a good platform if you want to diversify your investments beyond cryptos.

*eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.


Whether new to trading or an experienced crypto investor, you’ll like Kraken’s strong security features and access to a wide range of cryptocurrencies. You’ll be able to trade with a variety of options, including spot and futures trading, and benefit from comprehensive market insights.

Final Thoughts

Uphold’s access to multiple assets, wide range of cryptos, and innovative Uphold Card make it an attractive option.

It’s simple to use, and ideal for beginners who are looking to invest in crypto and manage their portfolio easily. If you want to integrate your traditional spending with digital assets, then Uphold will also appeal to you.

All this said, if you are a more experienced crypto trader and want advanced analytical and trading tools, Uphold may not be all you need.

Of course, when considering which crypto platform to use, you should always consider your trading preferences and investment goals, and explore alternatives to ensure you have the best fit for your investment journey.

*Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

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