Uphold is one of the largest cryptocurrency platforms, but it has fallen behind Coinbase in terms of services. If you’re thinking about investing into digital assets, I recommend checking out this comparison to see which platform will serve your needs best.
The “Uphold vs Coinbase 2022” is a question that has been asked for quite some time. The “Which Platform is Best?” is a difficult one to answer, but there are many factors at play.
Uphold and Coinbase are perhaps the most user-friendly fiat onramps for rookie crypto investors. Both of these famous platforms appeal to beginners because of their many features and user-friendly interfaces. Furthermore, since these businesses have been functioning for more than a decade, they have a strong reputation among international investors.
Although Uphold and Coinbase have a lot in common, there are certain differences to be aware of. If you’re on the fence about joining any of these exchanges, consider the following considerations.
Overview of Uphold vs. Coinbase
Coinbase and Uphold have built a solid reputation in the North American crypto community. While both of these companies offer dozens of services, they are most beloved by beginners for their clean & straightforward user interface.
Uphold bills itself as a trading platform that allows you to trade “anything to anything.” This New York-based firm, formerly known as Bitreserve, provides users with access to a broad range of cryptos, precious metals, and equities.
Uphold is now active in over 180 countries and takes over 80 crypto and international currencies. Uphold today boasts over 1.7 million users, and the firm claims to have processed over $6 billion in transactions since its inception. To discover more, read our entire Uphold review.
What is Coinbase?
“The Big Blue” will always be associated with IBM. Coinbase, on the other hand, merits this unique moniker in the crypto sector! True, Binance is now the largest cryptocurrency exchange in the world, but Coinbase remains the market leader in North America.
Coinbase is a cryptocurrency exchange established in San Francisco that operates in over 100 countries. According to the most recent estimates, Coinbase’s platform is used by at least 56 million users to purchase and trade about 80 digital assets. To understand more, read our whole Coinbase review.
What’s the Difference Between Uphold and Coinbase?
As previously stated, both Uphold and Coinbase can assist you in converting your fiat cash to bitcoin. Even if you’re new to cryptocurrency investment, both platforms make it simple to get started.
Users may utilize money from an ACH bank deposit or a credit or debit card to purchase fractionalized stocks, cryptos, and precious metals via Uphold. You might also transfer cryptocurrency to your Uphold wallet and exchange the tokens for whatever asset you wish.
While Uphold’s default configuration is “market orders,” you may also issue limit orders for a specific range of assets. Uphold also has an automatic trading tool that allows you to set recurring payments and DCA into your favorite projects.
You may deposit currency from your bank to Coinbase by ACH transfer or wire after you have a Coinbase account. Users may also link their PayPal accounts to Coinbase. Of course, if you already have crypto in a private wallet, you may deposit it into your Coinbase account.
You may either purchase bitcoin using market orders on the normal homepage, create a DCA timetable, or utilize the Coinbase Pro Platform after you’ve funded your Coinbase account. Coinbase Pro, in contrast to the ordinary Coinbase platform, features a more complex interface, a more liberal pricing structure, and the ability to place limit orders.
Any cryptocurrency you purchase on Coinbase is immediately sent to your exchange account’s wallet.
Uphold vs. Coinbase: Key Differences
While Uphold and Coinbase’s principal business is trading cryptocurrency, they have greatly extended their products in recent years. The following are the most important features available on these websites.
Uphold is a trading platform that allows you to trade several assets. To put it another way, you are not limited to purchasing stocks, cryptocurrency, or precious metals on this exchange. You could diversify your portfolio across all of these asset groups with just one Uphold account.
With market orders, you may buy hundreds of cryptocurrencies, stocks, or commodities on Uphold’s main screen. Set limit orders to lock in a certain price, or set up automatic payments for a long-term DCA plan.
While Uphold’s main feature is trading across various asset types, consumers also have a variety of additional possibilities.
Overview of the Main Features
- Cryptocurrency trading: Choose from more than 80 cryptocurrencies and save them in Uphold’s digital wallet.
- Buy full or fractionalized shares in dozens of blue-chip American corporations and exchange-traded funds (ETFs).
- Trading precious metals: Put part of your money into gold, silver, palladium, or platinum.
- Uphold will stake chosen digital assets on your behalf and pay you token rewards as a result of your staking.
- Set weekly or monthly purchase orders on your preferred assets for automated trading.
- Uphold debit card: Make everyday transactions using the funds in your Uphold account and get crypto-back incentives.
- Connect your Brave Browser to Uphold to get BAT prizes every month.
Coinbase was never intended to be a “Anything-to-Anything” exchange. Coinbase’s main goal has always been to assist customers in converting fiat currency to cryptocurrencies.
Initiating a market order on the Standard platform is the most simple method to utilize Coinbase. You may also use repeating buys to put your trading approach on autopilot.
Coinbase provides a Pro Platform with enhanced charting and limit orders for people with greater expertise trading cryptocurrency.
Coinbase has been increasingly interested in assisting consumers in using their tokens in Web3 applications, in addition to purchasing and selling cryptocurrency. Coinbase has also added a number of services to assist customers get the most out of their crypto holdings in recent years.
Overview of the Main Features
- Customers may acquire cryptocurrency using market orders or set up a regular buy schedule on Coinbase’s user-friendly home website.
- Earn income on Proof-of-Stake currencies like Cosmos or Algorand by staking them on Coinbase’s platform.
- Coinbase wallet: Coinbase’s non-custodial wallet is linked to your Coinbase account, but it enables you to keep control of your crypto’s private keys.
- Coinbase Pro platform: The sophisticated trading portal from Coinbase, with comprehensive carts, limit orders, and cheaper costs.
- Watch instructive films about minor cryptocurrencies and get prizes after completing a quiz using Coinbase’s “Earn to Learn” program.
- The Coinbase Card is a new Visa debit card that enables users to utilize their Coinbase account to make purchases and receive cryptocurrency rewards.
- The NFT marketplace on Coinbase is a much-anticipated destination for NFT art and collectibles.
Coinbase is the source of this information.
Uphold vs. Coinbase: Supported Cryptocurrencies
Although Uphold and Coinbase don’t have the most diverse selection of altcoins, most beginning and intermediate investors are unlikely to be disappointed with their crypto offers.
Uphold currently supports more than 80 cryptocurrencies, the majority of which are big or mid-cap.
Aside from Bitcoin, the following are some of the most popular digital assets on Uphold:
Surprisingly, Uphold’s Environmental Assets collection includes two eco-friendly tokens. UPCO2 (a blockchain-based Carbon Credit) and BTC0 are two of these tokens (the zero-emission version of Bitcoin).
Coinbase, like Uphold, has over 80 cryptocurrencies on its platform. You may buy a variety of altcoins using a Coinbase account, in addition to Bitcoin and Ethereum:
Please be aware that Coinbase Pro has a smaller selection of cryptocurrencies than Coinbase.
Coinbase is the source of this information.
Wallet: Uphold vs. Coinbase
If you want to acquire cryptocurrencies, you’ll need a secure location to keep them. Both Coinbase and Uphold, thankfully, offer consumers custodial digital wallets.
You get custodial hot wallets for all supported cryptocurrencies when you join up with Uphold. Please keep in mind that you do not have access to the wallets’ private keys. Unless you transmit your crypto to a private hardware or app-based wallet, you will not have possession of it.
When you purchase a token on the Coinbase Exchange, it is placed in your account’s custodial hot wallet right away. Coinbase, like Uphold, retains the private keys to any cryptocurrency held on the exchange.
Coinbase, on the other hand, has a non-custodial Coinbase Wallet app. You will have the private keys to your crypto if you transmit it from the Coinbase Exchange to this app.
The Coinbase Wallet does not need a Coinbase account to use, however there are connectors for individuals who choose to utilize Coinbase. In addition, you may utilize the Coinbase Wallet’s browser plugin to interface with popular dApps like OpenSea.
Uphold vs. Coinbase: Which is Safer?
When it comes to investing on any platform, security should be a top priority. It’s easy to get a sense of Uphold and Coinbase’s security requirements since they’ve been there for so long.
Uphold promises to keep 90% of its cryptocurrency holdings in cold storage at all times. The remaining 10% is distributed across multiple internet servers to provide enough liquidity for consumers.
Uphold features a transparency portal where people may see the company’s reserves in real time for further protection. Users should be able to view the amount Uphold has set aside as insurance in the case of a hack or security breach on this website.
Uphold also includes security measures such as two-factor authentication, powerful encryption technology, and a 24-hour monitoring crew. A Bug Bounty Program is also in place to remedy any possible mistakes on Uphold’s website.
Note from the Editor
The FDIC and SIPC are not covered by Uphold’s insurance coverage.
Coinbase has a strong reputation as a crypto custodian, and it takes pleasure in providing top-notch crypto security. Coinbase keeps 98 percent of its digital assets in cold storage at all times for further security. All of this information is encrypted with AES-256, and Coinbase retains backups on FIPS-140 USB devices.
Customers must always utilize two-factor authentication to access their Coinbase accounts. On its website domain, the firm promises to employ encrypted SSL. Coinbase has a Bug Bounty Program to keep hackers at bay.
Coinbase gives FDIC protection on every USD on its platform in terms of insurance. Coinbase Custody also has a commercial crime insurance coverage of $320 million.
Coinbase was hacked in 2021, compromising around 6,000 accounts. The corporation says, however, that it utilized its insurance money to reimburse all impacted consumers.
Coinbase is the source of this information.
Customer Support: Uphold vs. Coinbase
Crypto exchanges aren’t known for their customer service. Unfortunately, neither Uphold nor Coinbase have the best feature.
If you have a question about your Uphold account, go to the official Uphold Help Center. You may look through the FAQs or put in your unique question.
For more detailed instructions, you’ll need to send an email to Uphold’s Support page. Uphold does not presently provide phone or live chat assistance.
For the most up-to-date information, visit Coinbase’s comprehensive Education Portal or Help Center. If you can’t find what you’re searching for here, you may send an email to Coinbase’s support team.
Coinbase just launched a toll-free number and a live chat function. Anyone who suspects their Coinbase account has been hacked should contact (888) 908-7930 right once.
One of the advantages of utilizing a Coinbase Card is that you’ll get quicker phone help.
Fees: Uphold vs. Coinbase
All cryptocurrency exchanges charge fees. It’s a good idea to go at the Uphold and Coinbase charge structures to see how much of your money isn’t going into bitcoin.
Uphold has a key advantage in that it does not charge commission fees. The firm, on the other hand, plainly indicates that it charges a spread on every deal you make.
The amount of a cut Uphold takes is determined on the asset you’re purchasing. Here are some of the costs connected with some of Uphold’s most popular investments:
- BTC and ETH: 0.8 to 1.2 percent on Bitcoin and Ethereum, respectively.
- Lower-cap cryptocurrencies have higher spreads than higher-cap altcoins.
- Stocks in the United States: 1%
- Precious Metals: There is a 3% surcharge for precious metals.
- Swapping between fiat currencies costs 0.2 percent.
Uphold does not charge for ACH transfers, however if you use a debit or credit card, you will be charged 3.99 percent.
Coinbase’s pricing structure is notoriously difficult to comprehend. However, the general tendency is that Standard Coinbase costs more than Coinbase Pro.
All trades on the standard Coinbase platform are subject to a 0.5 percent base charge. If you’re placing a market order under $200, you’ll have to pay an additional cost of On the traditional Coinbase platform, you’ll have to pay a 0.5% base fee for all trades. On top of this fee, you have to add between $0.99 – $2.99 if you’re making a market order under $200. For all transactions above $200, you’ll have to tack on an extra 1.49%..99 to $2.99 on top of this. You’ll have to add an additional 1.49 percent to any transactions above $200.
If you use Coinbase Pro, however, you will be charged a 0.5 percent maker or taker fee on any transactions under $10,000. As you spend more than $10,000, these costs eventually decrease.
For credit, debit, and PayPal transfers, Coinbase charges a 3.99 percent fee. Coinbase does not charge for ACH deposits, however it does charge $10 per wire transaction. For any in-exchange conversions, you’ll additionally have to pay a changing proportion of crypto.
Coinbase vs. Uphold: Platform and App
Unlike Binance or KuCoin, Uphold and Coinbase are known for being the most beginner-friendly crypto investment platforms. Even if you’re new to cryptocurrency, you should have no trouble exploring these sites.
Uphold provides a simple user interface with sections for crypto, stocks, and precious metals purchases. On the top of your screen, you’ll see tools like limit orders and automatic buys. Unlike Coinbase, though, you won’t be able to use a sophisticated “Pro” trading platform.
Uphold also has a mobile app if you want to keep track of your portfolio on the road. You can download the Uphold app and sync your desktop account whether you’re on iOS or Android.
The normal Coinbase website is straightforward to use. The most significant information about your crypto portfolio and the current values of digital assets may be found on the homepage. You might quickly choose among these tokens and place a market order with a single click.
On the top of your screen, you’ll see all of Coinbase’s supplementary features, such as “Learn to Earn” and “Staking Rewards.” You may also switch to Coinbase Pro by going to Pro.Coinbase.com and logging in with your Coinbase credentials.
Coinbase’s Pro and Standard accounts are now available as apps for iOS and Android. Keep in mind that the Coinbase Wallet app is a non-custodial wallet separate from your Coinbase Exchange account.
Coinbase is the source of this information.
What We Like About Uphold vs. Coinbase (Pros)
There are several reasons why Uphold and Coinbase are two of the most popular cryptocurrency trading platforms in North America. Here are a few advantages of utilizing one of these platforms over the other.
- Crypto, precious metals, and fractionalized shares are among the assets available.
- On transactions, there are no commission costs.
- Instantly switch between the assets you want.
- The user interface is simple and straightforward.
- On its Transparency Page, it publishes regular reporting on reserves.
- North America’s largest and most prestigious stock exchange
- On USD, the FDIC provides insurance.
- 98 percent of cryptocurrency assets are kept in cold storage.
- Trading on Standard or Pro platforms is an option.
- Staking and “Earn To Learn” schemes for passive income
- A non-custodial digital wallet is available.
What We Don’t Like About Uphold vs. Coinbase (Cons)
Despite the fact that millions of users use Coinbase and Uphold, both exchanges have certain flaws. The disadvantages listed below may be a deal breaker for you.
- There is no FDIC or SIPC coverage.
- The spread cost is rather high.
- Customer service is not available through phone or live chat.
- There isn’t a non-custodial crypto wallet available.
- Trading commissions are high and complicated.
- Deposit fees are quite high.
- Customer service is slow.
- In 2020, the company was hacked severely.
For Whom Is Uphold Intended?
Uphold is a great option for those who want to diversify their portfolios. You’re not confined to simply bitcoin or equities on Uphold. On Uphold’s user-friendly platform, customers may effortlessly invest in and exchange between various assets. Uphold also gives customers access to precious metals and unique environmental investments as a bonus.
While Uphold isn’t as big or as well-integrated with Web3 as Coinbase, it’s one of the most straightforward methods for newbies to learn about different firms, metals, and digital tokens.
For Whom Is Coinbase Intended?
Coinbase is ideal for new investors that are simply interested in cryptocurrencies. Coinbase is one of the safest and easiest methods to obtain exposure to digital assets, thanks to its long-standing reputation in the crypto market. Customers may now connect with Web3 and get incentives on their bitcoin via Coinbase.
In addition to Coinbase’s native staking, the firm offers a unique “Learn To Earn” program that rewards you for your time while increasing your crypto expertise. In addition, the non-custodial Coinbase Wallet enables interacting with DeFi services, play-to-earn games, and NFT markets easier for newbies.
Uphold vs. Coinbase FAQ
Are you still undecided about whether Uphold or Coinbase is the better option for you? If that’s the case, keep the following frequently asked questions regarding the two platforms in mind.
Uphold or Coinbase: Which Is Safer?
In terms of insurance, Coinbase is a better option than Uphold. Customers who deposit USD with Coinbase are covered by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. In the case of a hack, Coinbase has millions of dollars in crypto-related insurance. In addition, Coinbase presently provides more customer support alternatives than Uphold.
This does not, however, imply that Uphold is a “risky” platform. Although Uphold does not provide SIPC or FDIC safeguards, it claims to have a hacker insurance coverage. You might also use the Transparency Tab to keep track of Uphold’s reserve status at all times.
Uphold and Coinbase are both secure digital trading platforms in general. Hardware wallets like as Ledger or Trezor, on the other hand, remain the safest way to store cryptocurrency. To ensure maximum protection, always move your cryptocurrency from an exchange to a private wallet.
Uphold or Coinbase: Which Is Cheaper?
Coinbase tends to be more expensive than Uphold. Although Uphold has a relatively The spread cost is rather high., it doesn’t charge a commission. By contrast, Coinbase’s standard platform charges steep trading fees on top of a 0.5% base fee. Also, Coinbase has more deposit, withdrawal, and convenience fees versus Uphold.
It’s preferable to utilize the Coinbase Pro platform to keep your trading costs low. You will pay more equivalent costs to Uphold if you can acclimate to this complex trading layout.
Uphold or Coinbase: Which Is Better?
Your investing choices will determine if Uphold is “better” than Coinbase (or vice versa). Do you just care about crypto, NFTs, and DeFi? If that’s the case, Coinbase offers a variety of connectors. If you want a “all-in-one” investing platform, though, Uphold is the obvious choice.
Uphold’s offers are likely to appeal to those seeking maximum diversity in their portfolio. Those who wish to become heavily involved in the crypto economy, on the other hand, should focus on Coinbase.
Coinbase and Uphold make it simple for new investors to get their feet wet in the cryptocurrency industry. While Coinbase may be able to assist users learn more about DeFi, Uphold provides a greater range of “TradFi” assets, such as blue-chip stocks, ETFs, and precious metals.
Because of their user-friendly designs and good safety ratings, both of these platforms are ideal choices for novices. All you have to do now is decide whether you want to put all of your money into crypto or diversify into other asset classes.
Coinbase may be a better alternative if you’re exclusively interested in cryptocurrency. Uphold’s “Anything-to-Anything” paradigm, on the other hand, will appeal to those seeking chances beyond the “cryptoverse.”
The “uphold vs binance” is a question that has been asked many times. The answer to this question is that there are pros and cons to both platforms, so it depends on what the user wants.
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