Uphold Vs Coinbase: Which Platform Is Best for Earning More Profit?
Bitcoin and other cryptocurrencies have taken the world by storm over the past few years. With their meteoric rise in value, more and more people are looking to get into the market. This has led to a surge in demand for cryptocurrency platforms and investors are looking forward to choosing the best one.
Two of the most popular platforms are Coinbase and Uphold. So, which one is better? We explained a detailed comparison of these two platforms based on various factors. By the end of this post, you should have a clear idea of which platform is right for you. Let's get started!
Uphold Vs Coinbase: An Overview
Uphold is a digital money platform that allows users to hold, send and receive traditional currencies and cryptocurrencies with ease. Launched in 2015, Uphold has powered more than US$4+ billion in transactions across 184 countries and 80+ currencies (traditional and crypto). With frictionless foreign exchange and cross-border remittance, Uphold makes it easy for members around the world to access their money.
Plus, because Uphold is directly connected to global liquidity providers, members can enjoy the best rates available. Uphold is unique in that it offers a comprehensive platform that supports a wide range of asset classes. You can use Uphold to hold and convert between multiple currencies, trade cryptocurrencies, send money internationally, and make payments online.
In addition, Uphold is one of the only providers to offer lending and investment services. Uphold also has a commitment to transparency, security, and accessibility for all users. With Uphold, you can hold and convert between multiple currencies in one account.
This makes it easy to send or receive money internationally without having to worry about conversion rates. Uphold offers a variety of investment options, including stocks, bonds, and gold. You can buy and sell investments directly on the Uphold platform, and you can always rest assured that your funds are secure.
Coinbase is a digital asset exchange company headquartered in San Francisco, California. It operates exchanges of Bitcoin, Bitcoin Cash, Ethereum, and Litecoin with fiat currencies in 32 countries, and bitcoin transactions and storage in 190 countries worldwide. Coinbase has more than 20 million active users.
Founded in June 2012 by Brian Armstrong and Fred Ehrsam, Coinbase is one of the most popular cryptocurrency exchanges online. The company allows users to buy, sell, trade, store, use, and accept cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Coinbase also offers merchant services and a mobile app.
The company was founded because Armstrong and Ehrsam believed that digital currency could make the world a more open and connected place. Their goal was to make cryptocurrencies more accessible to everyone.
Coinbase is one of the most popular cryptocurrency exchanges because it is easy to use, has a user-friendly interface, and is one of the most secure exchanges in operation. Coinbase is also one of the few exchanges that offer insurance for its users' digital assets.
The company has raised over $200 million from venture capitalists and is valued at $1.6 billion. Coinbase is one of the most valuable startups in Silicon Valley and is often referred to as a 'unicorn.'
|Fees||Variable spread up to 1.25%||0.50% spread plus a flat or variable fee depending on the transaction amount and payment method|
|Wallet||Private key encryption and 2FA||Private key encryption and 2FA|
|Transactions Supported||Buy, sell, trade, hold, and limit||Buy, sell, trade, and hold|
|Max. Trading Amount||Vary based on account activity||Vary based on account age, location, payment method, transaction history, and verification steps completed|
|Mobile App||iOS and Android||iOS and Android|
Uphold Vs Coinbase: Features
Uphold is a cloud-based digital money platform where users can buy, hold, convert and transact in a variety of currencies and commodities.
- Multi-currency support: Uphold offers support for 25 different fiat currencies and four cryptocurrencies, making it one of the most versatile digital money platforms available.
- Mobile app: The Uphold mobile app allows users to buy, sell, hold and convert their funds on the go. The app is available for both iOS and Android devices.
- Bank transfer: Funds can be deposited or withdrawn from Uphold accounts using standard bank transfers.
- Credit and debit cards: Uphold supports both Visa and MasterCard credit and debit cards for transactions.
- 24/7 customer support: Uphold offers round-the-clock customer support via email, telephone, and live chat.
- Automatic currency conversion: When converting funds between currencies, Uphold automatically uses the best available exchange rate to ensure that users receive the most value for their money.
- Secure wallet: Uphold stores all user funds in a secure, offline wallet to protect them from hackers.
- Two-factor authentication: Uphold offers two-factor authentication for an extra layer of security. This feature can be enabled in the account settings.
The following are 10 features of Coinbase:
- User-friendly interface: The Coinbase platform is very user-friendly and easy to navigate. Even if you're not familiar with cryptocurrencies or how they work, you'll be able to easily buy and sell bitcoins and other digital currencies on Coinbase.
- Security: Coinbase takes security seriously and has implemented multiple layers of security, including 2-factor authentication and a host of other measures.
- A large selection of digital currencies: Coinbase offers a large selection of digital currencies to buy and sell, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
- Ease of use: Coinbase allows you to buy and sell cryptocurrencies with ease. You can also use Coinbase to store your cryptocurrencies in a safe and secure manner.
- Buy and sell fees: Coinbase charges very low fees when buying or selling cryptocurrencies on its platform.
- 24/7 customer support: Coinbase provides excellent customer support 24 hours a day, 7 days a week.
- Mobile app: Coinbase has a mobile app that allows you to buy and sell cryptocurrencies on the go.
- Global presence: Coinbase is available in over 32 countries and 190 countries worldwide.
- A wide variety of payment methods: Coinbase allows you to buy and sell cryptocurrencies with a variety of payment methods, including bank transfers, debit cards, and credit cards.
- Index Fund: On January 26, 2018, Coinbase announced the launch of an Index Fund based on their GDAX platform. The fund will track the digital asset market across a number of exchanges.
Uphold Vs Coinbase: An Ease of Use
When it comes to ease of use, Coinbase is the clear winner. Their website is simple and straightforward, making it easy for newbies to buy, sell or trade cryptocurrencies. Uphold also has a user-friendly website, but their feature set is a bit more complicated than Coinbase's.
If you're not comfortable with complex financial tools, then Coinbase is the better option. However, if you're already familiar with cryptocurrencies and want more features, then Uphold is a good choice. But Coinbase is the only platform that allows you to buy Bitcoin Cash (BCH). If you want to buy BCH, then Coinbase is your best option.
How to Start Trading on Uphold?
First, create an account on uphold.com. Once you have registered and verified your email address, you will be able to log in and start trading.
To deposit funds into your account, click on the "Deposit" link at the top of the page and select your desired payment method. Uphold supports a wide range of currencies and payment methods, so you should be able to find one that suits you.
Once your funds have been deposited, you can begin trading by clicking on the "Exchange" link at the top of the page. From there, you can select the currency pair that you want to trade and enter the amount that you want to buy or sell.
Be sure to review our safety guides before you begin trading. And if you have any questions, the support team is always there to help.
How to Start Trading on Coinbase?
Assuming you already have a Coinbase account, trading on Coinbase is relatively straightforward. To start trading, simply follow these steps:
- Log in to your Coinbase account and go to the “Buy/Sell” section.
- Enter the amount of cryptocurrency you want to buy or sell in the appropriate field. You can also choose the “Price per unit” field to specify how much you want to spend or receive for each unit of cryptocurrency.
- Select the “Place buy order” or “Place sell order” button depending on whether you want to buy or sell cryptocurrency.
- Review your transaction details and click “Confirm Order” to submit your order.
Your order will be processed and completed once it has been matched with a corresponding order from another Coinbase user.
Uphold Vs Coinbase: Native Token
Both Uphold and Coinbase offer a variety of tokens for investment purposes. However, they each have their own native token which offers different benefits. Uphold has two tokens, UPCO2 and BTC0. These are carbon credit tokens that help with environmental initiatives, and can also be profitable. Coinbase has USDC, a stable coin pegged to the USD.
This is a popular option for traders as it minimizes volatility. They also have USDT and BUSD, both stable coins pegged to different currencies. Which token you choose depends on what you're looking for in an investment.
If you want something that is environmentally friendly and potentially profitable, then Uphold is a good choice. If you want a stable coin that is closely tied to the USD, then Coinbase is a better option.
Uphold Vs Coinbase: Customer Support & Education
In the world of cryptocurrency, two platforms stand out when it comes to customer support and education. Uphold and Coinbase are both leaders in their field, but which one is better?
When it comes to customer support, Uphold outperforms Coinbase. Uphold has a team of dedicated customer support representatives who are available 24/7 to answer any questions you may have. Coinbase also has a customer support team, but they are only available during business hours.
As for education, both platforms offer a wealth of resources. Uphold has an extensive blog that covers everything from the history of cryptocurrency to the latest news and updates. Coinbase also has a blog, but it is not as comprehensive as Uphold’s.
So, which platform is better? It depends on what you’re looking for. If you need 24/7 customer support, then Uphold is the better choice. If you’re looking for more comprehensive educational resources, then Coinbase is the better choice.
Uphold Vs Coinbase: KYC Conditions
When it comes to verifying your identity for purposes of exchanging cryptocurrencies, Uphold and Coinbase have different standards. Uphold asks that you provide your current residential address, while both companies stress the need of taking photos with these documents.
They don't allow scanning them or seeing physical copies in person at an office location like some other services do nowadays. This is likely due to the fact that each company wants to ensure that they are complying with KYC (know your customer) and AML (anti-money laundering) regulations.
As a result, if you are looking to use either of these platforms to exchange your cryptos, be sure to read their verification requirements carefully so that you can meet them and avoid any delays.
Uphold Vs Coinbase: Trading Fees
The fees charged by exchanges can vary quite a bit. For example, Coinbase has a Maker Fee of 0.05% and a Taker Fee of 0.25%. Uphold, on the other hand, charges a spread of up to 1.25% for all trades. So, if you were to buy $100 worth of Bitcoin on Coinbase, you would be charged $0.50 in fees. If you were to buy the same amount on Uphold, you would be charged $3.00 in fees.
Coinbase also offers lower fees for high-volume traders. Their fees start at 0.05% for Maker Fees and 0.25% for Taker Fees but they decrease based on how you trade—the lower your total volume across all currencies added together at any given time during the day or week.
Uphold, on the other hand, does not offer any discounts for high-volume traders. So, if you are looking to trade large volumes, Coinbase may be a better option. However, Coinbase is only available in a limited number of countries.
If you are looking to trade in cryptocurrencies that are not supported by Coinbase, then Uphold may be a better option. Uphold supports a wider range of cryptocurrencies than Coinbase and also offers international Swift payments. So, if international payments become increasingly important, Uphold may be a better option.
What Are the Pros and Cons of Coinbase?
The pros of using Coinbase include the following:
- Coinbase allows users to buy and sell cryptocurrencies, such as bitcoin, Ethereum, Litecoin, and more, easily and securely.
- The platform is designed for both beginners and experienced traders.
- Coinbase is of the most popular cryptocurrency exchanges and has a large user base.
The cons of using Coinbase include the following:
- Coinbase is known to be one of the most expensive exchanges to use.
- The platform has been known to be quite buggy and freeze up at times.
- Coinbase has been known to be unresponsive to customer support inquiries.
What Are the Pros and Cons of Uphold?
There are pros and cons to using Uphold. Some of the pros include the following:
- Uphold is a regulated company, meaning that your money is safe and will be backed by insurance.
- Uphold has a very user-friendly platform that makes it easy to use and navigate.
- Uphold offers 24/7 customer support in case you have any questions or need help with anything.
Some of the cons include the following:
- Uphold does not offer phone support, which can be inconvenient for some users.
- Uphold has been known to be slow in processing transactions at times.
- Uphold charges a fee for each transaction, which can add up over time.
Uphold Vs Coinbase: FAQs
How secure is Uphold?
Uphold is very secure and uses state-of-the-art security measures to protect your data and assets. Uphold also has a very strong anti-money laundering (AML) and Know Your Customer (KYC) policy to ensure that your funds are always safe and secure.
What is the Uphold Card?
The Uphold Card is a physical debit card that you can use to spend your cryptocurrencies and other digital assets. The Uphold Card is accepted by millions of merchants worldwide. You can also use the Uphold Card to withdraw cash from ATMs.
How do I store my digital currency on Coinbase?
Coinbase provides users with a digital wallet to store their cryptocurrencies in. You can also use other wallets such as MyEtherWallet to store your digital currencies.
What are the differences between Coinbase and Uphold?
The main difference between Coinbase and Uphold is that Coinbase is a regulated cryptocurrency exchange, while Uphold is not. This means that Coinbase complies with certain regulatory requirements, such as KYC/AML policies, while Uphold does not. Coinbase also offers a wider range of cryptocurrencies than Uphold.
Conclusion: Which One Is Better?
If you're simply looking for an easy way to purchase and trade digital currencies, then Coinbase would be the better option. However, if you're looking for a more robust platform that offers a wider range of features and options, then Uphold would be a better choice.
Ultimately, it comes down to personal preference and what you need from a digital currency platform. If you're just starting out, Coinbase would probably be the best option. But if you're looking for something more advanced, Uphold would be a better choice.