About Uphold
Uphold is a multi-asset digital finance platform established in 2014, serving as a cryptocurrency exchange, wallet, and trading service. It enables users across Europe to buy, hold, and exchange more than 260 assets, including cryptocurrencies (like Bitcoin, Ethereum, XRP), fiat currencies (notably EUR), precious metals, and select US equities. Uphold’s key proposition is its “all-in-one” account approach, where customers can seamlessly move value between different asset classes without needing multiple accounts or complex conversions.
European users can deposit and withdraw euros via SEPA transfers, with simple fiat on/off-ramp processes integrated into the platform. Features include recurring buys, automated investment options, instant internal transfers (via Uphold usernames), and custodial wallet services. Uphold also offers a crypto-linked debit card, though its availability within the Eurozone is limited.
The platform stands out for its transparent approach to pricing (all-inclusive rates displayed up-front), publicly available real-time reserve attestations, and regulatory registrations—Uphold operates under UK and EU e-money guidelines in partnership with licensed third parties. The service targets both individual users and businesses requiring exposure to a broad spectrum of digital and traditional assets.
Notably, Uphold does not offer DeFi products or direct earning/yield within its ecosystem. Its primary function is buy, hold, convert, and transfer, all within a regulated framework, prioritizing ease-of-use and asset diversity for European users seeking both crypto and traditional assets.
Pro's of using Uphold
- Multi-asset access: Buy, hold, and convert crypto, fiat, precious metals, and some equities in one account.
- Supports EUR: Full euro support for deposits, trading, and withdrawals via SEPA; convenient for European users.
- Transparent pricing: All costs (including spreads) are shown during transactions; no hidden fees.
- User-friendly interface: Simple setup and navigation suitable for beginners; quick verification process.
- Regulated and compliant: Registered in the UK and EU, enhancing consumer protection and compliance.
Con's of using Uphold
- Higher spreads/fees: Transaction spreads (1.5–3% or more) can be higher than many competitors, impacting trade costs.
- Limited advanced trading tools: No order books, margin trading, or pro-level charting; not ideal for advanced traders.
- Primarily custodial: User assets are held by Uphold, which can introduce risks in case of platform issues or insolvency.
- EU card availability is limited: The Uphold Debit Card is not accessible in all Eurozone countries.
- Customer service concerns: Some users report slow responses or delays in withdrawals and account verification.
What are alternatives for Uphold
- Coinbase: Fully regulated in most of Europe, easy-to-use, supports EUR via SEPA, offers staking and a debit card in select countries.
- Bitpanda (Austria): EU-based, wide range of assets (crypto, metals, stocks), transparent for EUR users, includes asset-backed card.
- Kraken: Strong security, low fees, EUR/SEPA support, advanced trading suite, some yield/staking options.
- Binance (Europe): Large selection of assets, low fees, advanced features, MiCA-compliant, but may be overwhelming for new users.
- Revolut: App-based, EUR deposits, simple crypto and metals trading, highly regulated, but with limited withdrawal capability for crypto.
- SwissBorg: Swiss-regulated, supports EUR, aggregates prices from multiple exchanges, offers yield on holdings.
Each alternative has specific advantages depending on needs such as trading sophistication, asset selection, and regulatory preferences within Europe.