Overall, Uphold receives poor marks from customers and has an average 2.1 out of 5-star rating across over 6,000 reviews on Trustpilot. Multiple users mention issues related to communication and account lockouts, as well as delays in authenticating profiles. Despite a large amount of negative feedback, some reviews of Uphold are positive.
Uphold is ideal if you want one place where you can buy and trade a variety of assets. It offers quite a few cryptocurrencies, along with precious metals, national currencies, and U.S. equities. Security is a concern, though, as there's a class-action lawsuit alleging the platform didn't adequately protect its customers. Read our in-depth Uphold review to see what it offers and decide if it's right for you.
Uphold is a broker that lets you buy, sell, and trade cryptocurrency, precious metals, fiat currencies, and U.S. equities.
What makes Uphold unique is its cross-asset trading. You can trade between any of the assets it offers, meaning you could trade a cryptocurrency for a stock, or a precious metal for a foreign currency.
In addition to trading, Uphold offers several other financial services, including:
- A debit card called the Uphold Card that lets you pay with any of the assets in your account and earn rewards on your spending.
- Instant fee-free payments to friends and family worldwide.
- Receiving payments from an employer in any currency or combination of currencies you want.
- Withdrawals to bank accounts in over 30 countries or to private crypto wallets.
- A staking program to earn rewards on your cryptocurrency balances.
- Integration with Brave, a free browser that allows you to earn Brave Rewards paid in the Basic Attention Token (BAT) cryptocurrency.
Uphold checks all the boxes in terms of security features, but customer reviews are mixed. A law firm has also filed a class action against Uphold for failure to correctly implement essential security protections.
To start, here's a rundown of Uphold's most important security features:
- Two-factor authentication (2FA) is enabled by default on all accounts
- About 90% of crypto funds are kept offline in cold storage
- It runs a bug bounty program
- All employees go through mandatory background checks
Despite those safety features, there have been many reports of Uphold customers who claim their accounts were hacked, even after correctly setting up 2FA. A class action filed by Kronenberger Rosenfeld alleges that third parties were able to reset 2FA on several users' accounts without their permission. These hackers then withdrew all those users' cryptocurrency.
In fairness, every crypto exchange receives its share of complaints, and Uphold has plenty of satisfied customers. But these account hacks are worth looking into if you're thinking about buying and storing cryptocurrency on Uphold.
- You're looking for a user-friendly platform to invest in cryptocurrencies, stocks, and other assets.
- You'd like to be able to spend your crypto online and in stores using a debit card.
- You want to earn rewards on your crypto by staking it.
This cryptocurrency broker is a good fit for: Investors who want access to cryptocurrencies, stocks, precious metals, and forex trading in a single platform.
Last modified 3mo ago