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Uphold Review UK: Pros, Cons, Fees & More

Uphold Review

Uphold Review UK: Pros, Cons, Fees & More

Uphold Review

Uphold allows investors to easily trade and invest in crypto. It’s ideal for investors who are interested in holding crypto in the long run.

So, right off the bat, this platform may not be best for those looking to buy and sell crypto daily. 

The platform has been around since 2013. During this time, they’ve garnered 10 million+ users worldwide. It’s a particularly popular platform throughout Europe and the UK. 

Whilst the platform’s priority is helping users trade with crypto, they also help with other financial endeavours, including transfers and banking. 

If you’re considering using Uphold, you’ve come to the right place. I’ve tried and tested this platform thoroughly to give you the spill on all of the great (and not-so-great) features. 

My hope is, that by the end of this Uphold review, you’ll have a better sense of what Uphold offers and whether it’s the right choice for you. 

Who Is Uphold Best For?

If you’re a beginner to crypto trading, you’ll be pleased to find that Uphold is an excellent option to consider. 

After signing up, I found that it was remarkably easy for me to start buying crypto.

There’s also a wide range of coins available which, to the uninitiated, can seem overwhelming. However, the layout of the platform keeps things simple so that you can learn fast. 

Uphold signup page.

One of the elements I was surprised by was how I could send my existing crypto from elsewhere to my Uphold account. If you don’t hold crypto elsewhere, you can simply purchase crypto directly from Uphold. 

Crypto can be bought at no expense when your bank account is linked to the platform. Fees are charged when using debit/credit cards to buy crypto. 

Once you’ve signed up, a crypto wallet will be provided. I was impressed with how Uphold take care of setting this up. From prior experience, I’ve found setting up a wallet to be a little complex. 

Your provided wallet comes with a specific wallet address which enables you to receive and send coins. 

When you’ve got to grips with crypto trading and the Uphold platform, it’s best to create your own wallet so that you can customise it to your needs. But beginners to crypto trading can take advantage of the provided wallet to get the ball rolling. 

Another element that’s great for beginners using Uphold is the learning resources. They have blogs that walk you through what cryptocurrency is and how it all works.

This can help to give you some background info to ensure you understand the basics before diving into buying and selling crypto. 

I liked how they have a website, as well as an app that’s available for Android and Apple devices. 

Available Cryptocurrencies 

There are hundreds of thousands of different coins available. Trying to decipher which ones are legit and which ones are a scam can be tricky for beginners. 

Uphold has more than 250 coins available. These include popular coins, such as Ethereum and Dogecoin, as well as lesser-known coins.

Available cryptocurrencies on Uphold.

Stablecoins are also available. I found this useful as it enabled me to hold my local currency via a blockchain.

The benefit of this is that I could quickly and easily access my coins without having to exchange my funds for the currency of the coin that I was interested in.

This also saved me conversion fees (more about fees below!). 

I noticed that the platform regularly adds new coins to the database. This gave me confidence in being able to keep up with the latest in my crypto trading journey. 

Another feature that I appreciate about the coins is that Uphold does their best to only make safe coins available to its users.

Having said that, it’s difficult to get it right every time. So, before you trade with a cryptocurrency, be sure to research it and make sure it’s legit. 

Available Currencies

In addition to the crypto features, Uphold enables users to trade with their local currencies. I tried this feature out and I liked how I could switch my local currency for another one in my account. 

For business account users, the fee for switching common currencies is 0.65%. Individual users are charged 0.20%. 

More about the business account is below. 

Business Account

Uphold business account.

If you’re using Uphold as an individual with a personal bank account, you would open an ‘Individual Account’. Business owners can create a ‘Business Account’. 

How is this beneficial?

Well, it enables you to use funds from your business to invest in crypto. As a result, you can trade with crypto more tax-efficiently. 

When using a personal account, you’re also using a personal bank account. Therefore, all profits are liable to tax. If you use a limited company, you can drastically reduce the amount of personal tax that you have to pay. 

One of the main factors to consider about this strategy is that your business owns the cryptocurrency, not you. 

Standout Features 

Throughout my experience using Uphold, I came across many great features.

Some of the standout features that enhanced my overall experience with the platform include the following. 

Limit Orders 

Limit orders work by setting a specific cost that you’d like to buy a coin. The order will then automatically purchase the coin at your desired price.

This is a super handy feature that helped me automate my crypto trading so that I could continue delving deeper. 

This feature is typically available with the more developed platforms. Seeing it available with a simpler platform was a pleasant surprise. 

International Trading

Being able to hold several currencies in your Uphold account is beneficial for those dealing with payments from different countries. 

Business bank accounts often have issues when managing overseas payments. This is because they usually have to open bank accounts in the countries that they’re trying to send or receive funds from. 

Uphold’s international trading feature means that you can send and receive payments in foreign currencies. The funds can land directly in the Uphold account. This is highly beneficial for international companies. 

To take things a step further, Uphold offers a tool that makes it easy for customers to pay for your goods/services. You can even make your very own payment system to customise it to suit your specific needs. 

The currency conversion fee for businesses is 0.65% which is fairly low. This provides companies with a cost-effective way to switch foreign currencies to local currencies and withdraw the funds to a business bank account. 


Uphold offers a card that you can use to buy things in-person and online with crypto.

I opted for the virtual card but you can also choose to have a plastic card that enables you to spend crypto anywhere that accepts Mastercard.

Uphold crypto card.

Now, when using the card, you’re technically not spending crypto. You’re spending the value of your crypto converted into your local currency.

But still, it’s a fun feature that’s relatively low cost due to Uphold’s competitive conversion fees. 

If you were planning a trip abroad, you could use the Uphold card to save on the typical high fees that banks charge for spending your local currency in a different country. 

However, you’ll incur costs when withdrawing cash using the Uphold card. Overseas ATM withdrawals cost $3.50. UK ATM withdrawals cost $2.50.

As a bonus for XRP token users, you can receive cashback with the token on purchases!

Stake Your Crypto 

Staking crypto using your Uphold account is a superb way to earn interest. Here’s how it works. 

You simply use your coins to help with operating a blockchain to receive 4-13% in interest rewards per year. The percentage amount varies depending on the amount that you deposited. 

Stake your crypto on Uphold.

The idea behind taking your crypto is that you help blockchain creators validate their systems in return for regards.

After exploring this feature a little more in-depth, I found that there is a fantastic selection of blockchains that you can have a stake in. 

I also noticed that you can’t always withdraw the tokens at any time. This is something to consider before you go ahead and deposit money with a blockchain for rewards. 

Is Uphold Expensive? 

Whilst Uphold has competitive conversion fees, it’s on the pricey side when it comes to crypto trading platforms.

However, the higher price may be worth it for beginners who need a simple platform to learn about crypto trading. 

I appreciated how Uphold doesn’t hide any of their fees. Everything is upfront so I always knew when I was going to incur a cost.

For example, it was always clear to me what the fee would be when I was buying and selling crypto. 

So, let’s take a more detailed look at what fees you can expect when using Uphold. 

Deposit Fees 

Depositing crypto elsewhere to your Uphold account is completely free. Depositing funds directly from a bank account to your Uphold account is also free. It’s also near enough instant, in my experience. 

You’ll incur costs when using debit or credit cards to deposit funds to your Uphold account.

Debit card fees are 2.49% and credit card deposit fees are 3.99%. When it comes to depositing funds using Apple Pay or Google Pay, you’ll incur a fee of 2.49%. 

How to add your card to Uphold.

Trading Fees

Trading fees are applied when you buy and sell with Uphold. Another term for a trading fee is a ‘spread fee’. 

This type of fee comes with the price. So instead of it being a separate fee, it’s added to the price of crypto that you want to buy or sell. 

Many trading platforms adopt this method to make the process of buying and selling smoother, whilst also enabling them to generate markups. 

Business Account Fees

Business users incur a Bitcoin fee of 1.05%. There are also bank transfer and crypto withdrawal fees. 

Bank transfers incur a cost of $3.99 per withdrawal. You can withdraw as much money as you like. For crypto withdrawals, you’re charged $2.99 and again, you can withdraw as much as you want. 

Currency conversion fees for business users are usually 0.65% for common currencies. However, it can be up to 0.95% for currencies that aren’t considered to be major. 

Individual User Fees

The fees when buying crypto will be different according to how active the coin is in the market and the type of coin that it is. 

The trading fee (or spread fee) for popular coins including Ethereum and Bitcoin is 1.5%. I liked how Uphold always clearly provided me with the fee of the crypto that I was about to buy. 

You’ll be charged a transaction fee for crypto valued at under $250. This costs $0.99 per transaction. However, I found that when I used my virtual Uphold card, I didn’t incur this transaction fee. 

Withdrawal Fees for Individuals 

I liked how I could withdraw funds directly to my bank account for free. There is, however, a cost for withdrawing most crypto.

Ethereum is one of the examples that doesn’t incur a withdrawal fee. 

Currency Conversion Fees for Individuals 

When it comes to switching between local currencies, you’ll incur a foreign transaction fee for common currencies.

This fee is 0.20% which is pretty competitive with banks that typically charge 1.5% or higher. 

How Safe is Uphold?

Whilst trading crypto using Uphold, I noticed that they prioritise their customers’ safety and security.

They even went out of their way to develop their very own security tech. This shows that they’ve gone above and beyond to ensure that their platform is safe and secure. 

In addition to this, Uphold is inspected regularly by security companies and financial specialists.

The FCA (the leading financial regulatory company in the UK) inspects Uphold’s services to make sure that people’s money is in safe hands.

Uphold security measures.

All of the customer’s money is completely backed on the Uphold platform. This separates them from traditional banks which loan out customer money.

With Uphold, you can keep your money on the platform knowing that it’s always available to withdraw in full at any time. 

Whilst there are excellent layers of security and safety, there’s nothing to protect your funds if Uphold goes bust. 

Customer Support Experience 

I was a little disappointed with how there’s no customer support number available. This means that you can’t pick up the phone and speak directly with someone from the platform for help. 

Usually, this wouldn’t be such a big issue but Uphold also doesn’t offer a live chat feature. Therefore, if you urgently need to speak with a support member, the only option you have is to email them. 

Having said that, I found that they replied promptly to my emails and were pretty helpful. I also made use of the help centre that’s available on the website.

They’ve taken their time to include as many resources as possible to help users with any issues or queries that they may have.

Uphold Alternatives

  • CEX.IO: Offers a range of payment methods that include cryptocurrency, bank transfer, Mastercard, and Visa. There’s also a range of customer service options in the form of phone and live chat support. 
  • Bittrex: This platform’s design is sleek and intuitive with plenty of features for veteran traders to make use of. The company incorporates fantastic security measures to ensure its users can trade safely. 
  • PrimeXBT: The real-time market stats and wide selection of tools make this platform ideal for both beginner and experienced traders. You can use the platform for cryptocurrency exchanges. 
  • Poloniex: Offers users a secure and safe way to trade with popular cryptocurrencies. It also provides users with plenty of resources and features.

Uphold Pros & Cons


  • No fees for trading, depositing, or withdrawing funds
  • Fantastic range of cryptocurrencies
  • Educational resources are available


  • The mobile app is disappointing for some
  • The spread is variable 

Uphold Review – Final Thoughts

Some of the main upsides to using Uphold include:

  • Competitive currency conversion fees
  • A virtual or physical card to spend your crypto funds with
  • The ability to manage numerous currencies
  • A business account for tax-efficient crypto-trading
  • Excellent variety of coins
  • Safe and secure platform
  • Easy to navigate

Some of the main downsides to using Uphold include: 

  • No live chat or customer support number is available
  • The fees for crypto trading are pricey

All in all, my experience using Uphold to buy and sell crypto was fantastic.

Whilst the crypto trading fees are more expensive, I found that the smoothness of all my transactions and the variety of coins I could invest in were worthwhile. 

I can recommend Uphold for beginners who are looking to learn about crypto trading. The platform makes the entire learning and practical trading process simple. 

The fact that you can also use Uphold to manage and switch several currencies is an additional benefit for individuals or businesses dealing with overseas payments.

Hopefully, you’re feeling more assured about all of the features that Uphold has to offer. You can now make a more informed decision about whether this is the right crypto trading platform for you.  


Is Uphold safe?

Yes, Uphold is known for its strong emphasis on security. They utilise industry-standard measures like KYC verification and two-factor authentication to protect user accounts. Moreover, Uphold stores the majority of user funds in offline cold storage, which enhances security compared to keeping funds online in hot wallets. These security measures contribute to the overall safety of the platform.

Is Uphold regulated in the UK?

Yes, Uphold is regulated in the United Kingdom as an EMD Agent of an Electronic Money Issuer overseen by the FCA. Uphold maintains a commitment to compliance with the relevant regulatory framework in the UK.

Is Uphold good for beginners?

Yes, Uphold is generally considered suitable for beginners. The platform offers a user-friendly interface and intuitive features that make it easier for beginners to navigate and understand. Additionally, Uphold provides educational resources and guides to help beginners learn about cryptocurrencies and digital asset trading.

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I’m Will! I recently left my job working for one of the UK’s leading financial companies in London to start Sterling Savvy, a place to empower people in the UK financially.


With my experience working with some of the biggest financial services companies in the world and my education in Economics & Finance, I want to help you be more savvy with your money. 


You can read more about my mission here.

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