Uphold.com Review 2019 – Scam or Not?

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There are a lot of “BTC Exchange” websites out there today. But how many of them are real exchange websites wherein you are not only able to directly exchange fiat money to BTC but trade fiat/crypto pairs as well? With the number of websites we’ve been through, we can honestly say that there are only a handful of websites that offer dual services. Most of them simply sell BTC, and some of them may or may not have a trading platform.

Today, we will be looking into one exchange website called Uphold.com and know more about them. Do they have a trading platform? Do they sell BTC? How do you get BTC or sell with them? These are the questions that we are going to answer in this review. Without further delay, let’s talk about that!

Background

The website was launched in 2015 and has continued to provide services to more than a hundred countries across different currencies. Uphold.com is also a FinCEN registered MSB in the United States and CSSF for Europe, making it a perfect choice for people that love to exchange with regulated websites.

Verifications with Uphold.com

The first step is to provide an active email address, the type of account, and your country of residence. The next step is they ask you personal details like complete name, username for your new account, state you live in, and your date of birth. After completing the second part, they will send you an email confirmation straight to the provided email address. The third part would be sending a code to your mobile phone. We strongly advise not to create an account with them if providing information through the internet is not your thing!

After completing all the three steps, you’re done! The last step was there to also activate your Two-Factor Authentication for added security on your account.

Becoming a verified member – Creating an account with them is just the first part. You are able to upgrade your account to a verified one if you think that the transaction limits are not enough for you. Verified members are able to transact more than $1,000 USD in their new upgraded account. In order to do this, you just need to log into your account and click on “Verify now” button. This will redirect you to a new page with the requirements needed.

 

Features

The website acts as a virtual wallet for not only cryptocurrencies but Fiat money as well. This is probably one of the features that they are doing great in compared with any other crypto exchange websites today. This means that not only people are able to use their services as an online wallet, but exchange different fiat currencies to BTC, BCH, DASH, ETH, or LTC with just a few clicks of a button. Fees might be high compared to regular exchange websites, but hey, you get to keep in your different cards.

Speaking of cards, the website offers virtual MasterCard for all your currencies online. This means that even if you do have a pure cryptocurrency account, the funds will still be able to be used through online stores as a MasterCard transaction.

Trading with Uphold.com

The website acts as a straight exchange platform wherein its users can easily convert their Fiat funds into crypto currency with just one click. Here at Uphold.com, verified users can also exchange fiat to fiat if they want to. The ability to use the accounts as digital wallets also increased the ability for users to use the exchange more often due to its flexibility in the current online market.

Fees

Exchange fees here at Uphold.com can be a bit pricey if you ask us. There is a bunch of websites today that offer lower exchange fees but without any wallet services. At least here, customers would not only be able to exchange fiat to crypto, they can also store them for future use. BTC exchange fees currently are at 1.05% against Fiat currencies, for ETH and a couple of currencies they charge 1.4% per exchange. Exchange fees for USD, EUR, and GBP are at 0.65% per transaction.

Deposits and Withdrawals

One of the features that we did not mention earlier is the ability to send funds from one Uphold member to another. This is great since users are able to transfer fiat or crypto from one account to another without limitations, and of course, fees. Uphold also does not charge deposits directly with banks or personal BTC wallets. Third party payment options like China UnionPay Card has a deposit fee of 1.8%.

Withdrawals are different since they charge both crypto and fiat transactions. For crypto withdrawals, they charge $2.99 per transaction and wire transfers cost $3.99. Please be advised that this is just the plain fee without third party costs which will be shouldered by the account holder.

Customer Service

Their customer support isn’t that great since they work with a ticket system. You can access their support tab through this link. What we do not like about ticket systems is that you can either get an answer within the next five minutes or it would take it 5 days for them to get back to you. What should have been great is a phone number that their customers can call, but they currency to not have this feature.

Pros and Cons

Pros

  • Exchange and wallet service
  • Virtual wallet with MasterCard
  • Regulated

Cons

  • Not anonymous
  • Fees are expensive

Uphold Review Conclusion

Uphold.com is a regulated exchange/wallet service that peoples from around the world use. They might have high service fees compared to a lot of exchange websites today, but they not only offer an exchange but users are also able to use their wallet service for free, so we guess that’s where the extra charge comes from. Their website is innovative and really easy to understand. We do want to let you guys know that if you want to have an anonymous account with an exchange website, this is not your website. They follow an intensive ID review for newly registered accounts. All-in-all, the website is not bad if you’re looking for a regulated exchange website based in the United States.

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Share your Experiences about Uphold.com:

12 User-Reviews for Uphold.com
  1. ALEXANDER, 21. July 2019

    very bad experience .i not happy uphold thanks

  2. christopher peacock, 17. May 2019

    I’ve tried getting my account verified about 5 times with no luck I believe that uphold have been attacked and have lost money that is why uphold is not verifying any new account

  3. Charles Smith, 14. May 2019

    I applied to join Uphold, supplied the verification details, and waited and waited. Eventually I received an email saying the account had been activated. In the next breath a subsequent email arrived temporarily suspending the account for unspecified “security” reasons. I raised this with their support, trying to understand their reasons. After further lengthy delay a support email came back announcing my account had been permanently suspended.

    To be honest I’d already decided not to use them because of their application processing delay, but after a 40 year long career in IT and Banking, I’m baffled as to the security concerns.

  4. Thomas Berk, 26. April 2019

    Uphold is really a weird, and extremely automated service, to the point there are no personnel working there. They act very irresponsibly and very unprofessionally, especially on anything dealing with verification. You can be sending them e-mails and all that they do is reply with bot e-mails. Plus, no phone number is used for support, showing their avoidance for serving their customers. 100% shady and NOT recommended.

  5. Patrick, 10. April 2019

    I’m not finding any of these negative reviews accurate at all. I’ve had no issues and customer service was very nice. I am verified too, I supplied what was asked and had no problems. No I’m not a “bot.”

  6. yuval, 17. December 2018

    Hidden fees lack of transparency and overall a frustrating experience.

    Charged me 10% for a withdraw instead of their official rate of 1.5%.They have their own ‘price rate’ which they don’t consider as a fee (nor do they present it anywhere) that is 8% lower than the market price.

    Lack of transparency, wou’dnt recommend using their service, wouldn’t do so again myself.

  7. Matt Hert, 28. October 2018

    This exchange sucks they have my money tied up for 24 hours on a deposit? I tried to cancel it and they refuse to comply? It’s a $200 deposit are they that broke the can’t cancel a $200 transaction? I’m pretty sure it’s a scam and I’ll never see that money again

  8. Paul J, 19. October 2018

    Beware of this company. I signed up with Uphold early Jan 2018. Recently, they sent a request for KYC info. Now, they are using their KYC as an excuse to suspend my account indefinitely! I provided my Drivers licence, Passport card, Bank Statement, A picture of me holding my ID, a screen shot of my bank webpage, and a Utility bill with my address. Then they say the screen shot needs to have my name, my full bank account number, and recent transactions. However, my banking webpage does not show the full account number so they pointed that out. I told them my dilemma but that still insisted… Next I was able to show the account number on the screenshot but then they said my name was not shown on the page. I then pointed out my name was at the top of the page. I have yet to here a response from customer service. I have never been asked for a screenshot of my Bank Account webpage… Their excuse is that they are heavily regulated… if 2 government issued ID’s, a bank statement, a Utility bill with my address isn’t good enough for these people then I think they are full of it. I have provided KYC info to Kraken, Gemini, HBUS and many other accounts and Uphold is held to a higher standard? Now I can’t access my account. I asked several times for a phone number to call and all I get is a canned response stating that per my agreement that upon request I need to provide the requested documents….Wow… no number to call, runaround responses, falsely stating that my screenshot did not have my name when it is shown at the top…this is seeming more and more like a big scam! Just wanted to warn others who still can to consider protecting your assets from an indefinite suspension by Uphold… Please Be careful!

  9. Jeff, 18. October 2018

    A scam company. The positive reviews must be bots. They verified me as a user right up to the point where I gave them money. After they received my USD they froze my account until I was a “verified user”….they now have everything to steal identities. DO NOT TRUST THIS COMPANY!!!! They will steal your money with no repercussions on their end

  10. paul, 18. October 2018

    Beware of this company’s KYC requirements. They are asking for a screen shot of my bank account transactions which has your full account number, bank name, and your full name. My bank website does not provide this. Now my account is locked until I provide them with the information that I cannot get! I already provided them with my driver’s licence, passport, bank account statement, garbage bill with my address and it’s still not enough for these people. Wow! All I can say is beware…

  11. Mike Stanley, 25. July 2018

    Two whom it may concern, I had a tech and then a supervisor from Uphold go into my wallets and withdraw all of my funds from my Bitcoin and half of my holdings from my Ripple account ,I was screaming at them both to stay out of my wallets and I could not stop either of them .
    they both told me that they needed full access to my computer to verify my Bittrix account to their Uphold account.
    they have blocked my number at customer support, they blocked my Bittrix sign in page and kept my money.
    I am mortified on what they did to me , I am Disabled and have very little income , this is my life savings and I pray that I get it back.
    I have consulted with a Attorney and he said they have no right on what they did and if I dint get my money back he will go after Uphold.
    There are wallet address and they can track the withdraws, and Bittrix are full aware that I did not give Uphold permission to withdraw my funs.
    I was told by Uphold that all of my funds will be returned to me with in 24 hours.
    ill keep EVERYBODY posted.
    I will be reaching out to Brad Garlinghouse from Ripple to let him know how Uphold is treating his clients, I really sure he will be looking into this aswell.

  12. LAE, 14. July 2018

    I’ve only been with UPHOLD for two weeks but so far they’ve done everything they promised. I’m really liking them a bunch! Hopefully, everyone agrees.