About Uphold
Company Overview
Uphold is a digital asset platform that allows users to buy, sell, trade, and hold cryptocurrencies, fiat currencies, and precious metals. Founded in 1998 and registered in the Bahamas on April 22, 2024, the company operates under the domain uphold.com and is headquartered at Aristo House, Office A, The Balmoral, #78 Sanford Drive, Nassau, Bahamas. Despite its long operational history, Uphold does not hold a recognized financial regulator in our records, although it claims licensing in multiple jurisdictions.
The platform positions itself as a transparent and reserved exchange, publishing real-time asset and liability data. It offers both retail and institutional services, including a platform for businesses to build on-chain financial products.
Regulatory Status
Our known facts indicate that Uphold has no regulators on file. However, the company's disclosures mention that Uphold HQ Inc. is a FinCEN Registered Money Services Business in the US, Uphold Europe Limited is registered with the FCA as an EMD Agent in the UK, and Uphold Worldwide Ltd. is registered in the Bahamas. These claims suggest a multi-jurisdictional regulatory approach, but independent verification of these registrations is not reflected in our records.
Traders should be aware that the regulatory status may vary by region, and the absence of a recognized financial regulator in our database raises caution. Uphold's own transparency page states that it is a high-risk investment and warns that investors should not expect protection if something goes wrong.
Platform and Features
Uphold provides a web-based platform and mobile app for accessing its services. The platform supports a wide range of assets, including major cryptocurrencies like Bitcoin and Ethereum, fiat currencies such as USD, EUR, and GBP, and precious metals like gold and silver. Users can trade these assets with the promise of optimal execution across multiple global trading venues.
Key features include real-time reserve transparency, zero lending of user funds without consent, and 97% of crypto assets held in secure cold storage. The platform also offers a 'Markets' feature for tracking asset performance through charts and key statistics.
Account Types and Fees
Uphold offers individual and business account types. Individual accounts allow trading, deposits, and withdrawals with variable fees depending on the payment method and region. For example, US users can fund via debit/credit card (3.99% fee) or ACH (no fee), with daily, weekly, and monthly limits. Crypto deposits and withdrawals incur network fees.
Trading fees are tiered by asset class: stablecoins under 0.25%, major FX at 0.3%, Bitcoin and Ethereum at 1.80%-2.20%, altcoins at 2.85%-3.80%, and precious metals at 2.35%-3.40%. The fee schedule is updated periodically and may differ by user location.
Deposits and Withdrawals
The platform supports various funding methods, including debit/credit cards, Apple/Google Pay, ACH (US), and wire transfers. Deposit processing times vary from instant (card) to a few days (ACH). Withdrawal methods also vary, with fees and limits applied per method.
Crypto deposits and withdrawals are supported for most listed digital assets. Uphold does not charge direct fees for crypto deposits, but network fees may apply. Withdrawal limits are set based on user verification level and account history.
Target Audience
Uphold caters to both retail investors and institutional clients. Individual traders can access a broad range of digital assets and precious metals, while businesses can utilize the platform's infrastructure for digital asset management and payment solutions.
The platform's emphasis on transparency and real-time reserve data appeals to users who prioritize trust and security. However, the lack of a confirmed regulatory license in our records may deter risk-averse traders seeking regulated environments.
Conclusion
Uphold presents itself as a transparent and multi-asset platform with a long history and claims of US and UK regulatory compliance. Our known facts show no registered regulators, creating a discrepancy that requires cautious consideration. The platform's features, fees, and asset offerings are competitive within the crypto exchange space.
Traders should conduct their own due diligence and consider the regulatory gaps before committing funds. Uphold's own disclaimer that it is a high-risk investment reinforces the need for careful assessment.
Overview compiled by FXCanary from regulatory records and public data. full Uphold review