Uphold Review: Pros, Cons, and More | The Ascent by Motley Fool


Top perks

Excellent cryptocurrency selection

You won’t be short on digital currency options if you use Uphold. It lists over 75 cryptocurrencies, including most of the biggest ones on the market, as well as smaller altcoins and stablecoins that follow the U.S. dollar.

SEE MORE TOP CRYPTO PLATFORMS: Best Cryptocurrency Apps and Exchanges

Trade between cryptocurrencies and other assets

One of the best parts about Uphold is that it offers several types of assets and lets you trade between them. With an Uphold account, you can buy and trade:

  • Cryptocurrencies
  • Precious metals, such as gold and silver
  • Stocks
  • Fiat currencies, such as the U.S. dollar and the euro

This allows you to keep an entire investment portfolio in one place. It’s also quicker and more convenient to trade one type of asset for another. For example, you could use Uphold to trade your Bitcoin for Apple stock, or vice versa, without needing to convert either one to cash first.

No deposit, withdrawal, or trading fees

Uphold doesn’t charge deposit, withdrawal, or trading fees. It is worth noting that it charges a spread on each trade that varies based on what you’re trading and market conditions. Withdrawals to external crypto wallets will also have a network fee, but that’s charged by the cryptocurrency network, not Uphold.

Educational content

Uphold offers useful educational content that teaches users about crypto. It has a “cryptionary” explaining crypto terminology, a blog, and a section covering cryptocurrency news.

Each type of cryptocurrency Uphold offers has its own page with information on what that cryptocurrency does. Many of these pages also include sections on what the bulls and bears are saying, meaning the arguments for and against that cryptocurrency.

Debit card

This broker offers the Uphold Card, a debit card that lets you pay with cash, crypto, precious metals, or any other assets in your account. It’s a Mastercard, so it works anywhere Mastercard is accepted. The card also offers rewards of 1% cash back on spending in national currencies and 2% in crypto rewards on crypto purchases.

The Uphold Card isn’t without its drawbacks. Most notably, there’s a $9.95 fee to get the card, a $9.95 fee if you ever need a replacement card, and a $2.50 fee for U.S. ATM withdrawals. Still, it’s nice to have a way to spend cash or crypto in your Uphold account.

SEE MORE CARD OPTIONS: Best Crypto Credit Cards

Low minimum deposit

You don’t need a lot of money to start investing in cryptocurrency with Uphold. The minimum deposit amount is $10.

Read More: Uphold Review: Pros, Cons, and More | The Ascent by Motley Fool

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