Uphold, though it is an exchange platform, brings you Properties Of Crypto Bitcoin something very different from many other exchange platforms. It brings you the opportunity to easily sell, purchase and trade multiple assets over one platform.
Uphold is a platform created for both beginners as well as professionals. It offers its users access to a complement of financial products on a fairly direct and user-friendly platform. This platform was established in the year 2015 and supports more than 80 cryptocurrencies.
Table of Contents
Overview of Uphold:
Uphold is a crypto trading platform that brings you an extensive range of crypto assets and services. On this platform, users are allowed to make easy purchases, sell, trade, or exchange around 100 crypto assets as well as precious metals, foreign exchange, and fiat currencies.
Uphold is different from many exchange platforms in many factors. Among which one is its fees. It is quite clear about its charges. Uphold has a different fee structure as compared to other exchange platforms. It does not provide any commissions or discounts, nor charge deposit or maker-taker fees. Instead of all this, it charges spread fees which are described as a small premium you will have to pay over the actual market price that let Uphold generate money.
Using these spread fees, you may have to pay more charges than you have to on the competitor’s platform. Simply, this platform is a worthy option for those who are looking for investing in cross-trading of various assets on one platform.
Perks and Drawbacks of Uphold:
Top Perks of Uphold:
Here we have a few major perks of Uphold platform.
Cross Asset Trading:
This platform brings its users the opportunity to buy and trade across assets. Users can also buy cryptocurrencies, U.S. equities, and valuable metals on this platform.
Fee Structure:
Uphold has a transparent fee structure. This way, users will not have to worry about any additional or hidden charges.
Drawbacks of Uphold:
Now coming to the drawbacks, there are a few that need to be listed down.
Limited Cryptocurrencies:
Though the platform itself is huge, it still only supports around 100 cryptocurrencies which is quite a small number as compared to the competing exchange platforms. All other major exchange and trade platforms offer an extensive range of crypto assets.
Lack of Features:
Despite being established in 2015, this platform fails to acquire advanced features. It does not have advanced charting and many other features required by professional traders that most the platform have.
Supported Cryptocurrencies on Uphold:
Uphold supports 88 cryptocurrencies among which some of the major ones are given below:
- Bitcoin
- Ethereum
- Litecoin
- Chainlink
- Iota
- Ripple
- Stellar Lumens
For purchasing, investing, or trading purposes, use platforms like Uphold, Coinbase, Gate.io, and Bitcoin Trading Software.
How To Open An Account on Uphold?
It might seem difficult to open an account on Uphold, but it is quite opposite in actuality. Signing up on Uphold for an account is simple and easy. To initiate the process, you need to click on Sign Up. Then, you will have to provide all the basic identification information such as e-mail, contact number, name, residence, etc. After that, more information is needed to proceed including a government-issued photo ID for example a license or passport.
After all these steps, when you are done submitting your information, you will see terms and conditions on your screen. You will also get an authentication e-mail from Uphold. After the last step of verification, you can use your account.
Uphold vs. BlockFi:
Uphold and BlockFi, both are easy-to-use platforms used for purchasing, selling, and trading crypto assets. Yet, there is some significant difference observed in both the platforms.
Uphold has almost 100 supported cryptocurrencies whereas BlockFi only supports 16 cryptocurrencies. BlockFi exchange has an advanced option of giving out loans to eligible users while on the other hand, while Uphold does not have this option. Moreover, Uphold provides its users with rewards as a debit card for users and BlockFi offers a cryptocurrency rewards credit card to its users. Lastly, Uphold is a multi-asset trading platform and BlockFi on the other hand does not have this option.
Bottom Line:
Uphold is a fully developed exchange used in 184+ countries all around the globe. People majorly prefer it due to its fee structure transparency and no hidden charges. Most importantly, users have access to cross-trading and not just crypto but others too.