We independently evaluate all recommended products and services. If you click on links we provide, we may receive compensation. Learn more. Cryptocurrency exchanges like Uphold and Coinbase make it easy for people to buy or sell Bitcoin and altcoins. Both trading networks let investors purchase coins with a bank account or credit card and offer a crypto debit card. Coinbase was founded in 2012 and went public via a direct listing in 2021. Uphold was founded in 2013 and launched its platform in 2015. For people wanting to buy precious metals or make crypto-to-crypto trades, Uphold is a great option. But it can feel overwhelming at first to those new to investing in cryptocurrencies. On the other hand, Coinbase hands out crypto for learning about crypto trading, making it a good choice for beginners. We reviewed Uphold and Coinbase based on each platform’s ease of use, unique features, the overall cost, and the number of currencies. Additionally, we checked out the mobile apps, security, and how experiences could differ for U.S. versus international users. Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed. Pros Offers metals, and cryptocurrency trading Free to send money to a friend or family member 0% trading commissions Cons Fewer educational resources than Coinbase Relatively high spread fees Pros Offers crypto rewards for learning about crypto Has a lower spread than Uphold An advanced platform is available Cons High convenience fees for transactions Charges 1.49% to buy using a bank account Uphold vs. Coinbase Uphold vs. Coinbase At a Glance Features Currencies Security Fees Ease of Use Mobile App Access Final Verdict Methodology Both cryptocurrency exchanges offer unique features for platform users. Coinbase is geared toward beginners with rewards for learning. Meanwhile, Uphold rewards Brave browser users and has an open application programming interface (API) for custom integrations. With Uphold, users can take advantage of: While Coinbase doesn’t have an open API or support trades of precious metals, the exchange appeals to users because of the following features: Uphold and Coinbase offer a nice selection of cryptocurrencies. They support fewer coins than popular sites like Binance but more than exchanges such as Bitstamp. The platforms feature around 250+ assets. Both exchanges support 28 of the same coins, including Bitcoin (BTC), Bithereum (BTH), Aave (AAVE), Polygon (MATIC), Dogecoin (DOGE), Cardano (ADA), and Dash (DASH). Users wanting to trade multi-assets appreciate Uphold’s unique offerings. Uphold supports four precious metals (gold, silver, platinum, and palladium) and two carbon credit tokens, Universal Carbon (UPCO2) and Bitcoin Zero (BTC0). Both cryptocurrency exchanges accept fiat funds, and users can purchase coin fractions. Coinbase and Uphold meet or exceed strict U.S. and international laws regarding know your client (KYC) and account verification. In addition, both companies fully disclose information about their security measures on their websites. USD funds on Coinbase are insured by the Federal Deposit Insurance Corporation (FDIC), and they hold 98% of crypto funds in cold storage. Additionally, they offer a bug bounty program and maintain an insurance policy against theft or fraud for funds Coinbase holds. By comparison, Uphold shares many of the same security features, including 24/7 Overwatch monitoring of detected threats and a “Transparency” page with live statuses of their reserves. The two cryptocurrency exchanges take a different approach to fees, yet trades may cost about the same. Coinbase charges a spread of about 0.50% per transaction plus a fixed or variable fee depending on the transaction amount and payment method. The convenience fees range from $0.99 to $2.99 when funding your trade via automated clearing house (ACH). Uphold users can purchase multiple assets using an ACH withdrawal or bank account fee-free. According to Uphold's website, the company charges 0% deposit fees and 0% withdrawal fees; however, users will pay a spread on each trade. Uphold users pay 3.99% to use a credit card. However, the spread is much higher on Uphold and varies widely. According to Uphold: Coinbase continues to stand out from the competition for its ease of use. The signup process is straightforward, and it’s easy to find details about the platform, cryptocurrencies, and even learn how to get started trading. Likewise, Uphold’s process is user-friendly, and the website is easy to navigate. The advanced transaction types require some investing experience and the addition of stocks and metals adds to the complexity. However, Uphold offers a one-step trading capability, where users can trade any crypto asset for another. Both exchanges offer customer service through email or X (formerly Twitter). Although the Coinbase knowledge base and help articles are expansive, Uphold provides plenty of information about the platform and some helpful articles for beginner traders. Coinbase and Uphold both offer a mobile app for Android and iOS phones. The apps offer nearly full functionality compared to the websites. That said, you won’t find advanced charting options on either of them. However, the Coinbase app appears to be a bit more mature with fewer bugs and navigation issues, earning it higher user ratings. Coinbase provides two other applications, including a standalone hot wallet called the Coinbase Wallet and the Coinbase Pro app with advanced features and transactions. Uphold and Coinbase are available to U.S.-based and international users. However, residents of Hawaii are excluded from coinbase, and Uphold users are only approved to the end of 2024. But, if you’re in the United States and want to buy Ripple (XRP), Uphold supports it while Coinbase doesn’t. Uphold and Coinbase are secure exchanges offering a good selection of cryptocurrencies and features useful to traders, such as Uphold’s AutoPilot and the Coinbase Earn program. But, people wanting a multi-asset trading platform should head to Uphold to buy precious metals, national currencies, and environmental tokens. Meanwhile, those wanting potentially lower fees and more chances to earn free crypto will appreciate the Coinbase or Coinbase Pro platforms. Uphold is a multi-asset exchange, meaning users can buy and sell cryptocurrencies, national currencies, and precious metals. In contrast, Coinbase is a cryptocurrency exchange that supports various cryptocurrencies and stablecoins. Investors can buy, sell, deposit, or withdraw using Uphold or Coinbase. Also, both platforms offer a debit card. The Uphold card - available in the U.K. only - is a multi-asset Mastercard, whereas the Coinbase card is a crypto Visa. Uphold and Coinbase users may access the cryptocurrency exchange from a web browser or through the associated mobile apps. Once the verification process is completed, which may take extra time, investors can add funds to buy assets depending on their location. Both support ACH, bank transfers, credit and debit cards. Coinbase also allows users to purchase or withdraw using PayPal. Coinbase also gives crypto rewards when users watch videos or read guides about blockchain and cryptocurrencies. On the other hand, Uphold offers AutoPilot for recurring trades. Yes, Uphold and Coinbase file an annual report with the Internal Revenue Service (IRS) in accordance with tax laws and regulations. In addition, Coinbase issues IRS Form 1099-MISC to Coinbase users who are U.S. persons and earned $600 or more in rewards or fees from Coinbase Earn, USDC Rewards, and/or staking. While Coinbase and Uphold are reasonably easy to use, Coinbase offers more resources for beginners than Uphold does. Since Coinbase only supports cryptocurrencies, new investors may feel more comfortable starting with Coinbase. However, Uphold is a multi-asset exchange, so users wanting to buy and sell precious metals or cryptocurrencies should begin there. Moreover, Uphold offers unique environmental currencies called carbon credit tokens, which aren’t provided on Coinbase. We reviewed Uphold and Coinbase by considering the features that made each platform stand out, such as the ability to earn crypto on Coinbase or trade precious metals on Uphold. We also looked at the overall cost of investing, including the spread and various fees. Then we compared both platforms on supported currencies, ease of use, and accessibility for living in the U.S. and internationally. Lastly, we considered the usability of the mobile apps and thought about several use cases to determine what type of investors would feel most comfortable on each platform. Article Sources Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. CNBC.com. "Coinbase Closes at $328.28 per Share in Nasdaq Debut, Valuing Crypto Exchange at $85.8 Billion." Crunchbase. "Uphold." Uphold. "About Uphold." Uphold. "Uphold Pricing Policy." Uphold. "Homepage." Coinbase. "Exchange fees." Coinbase. "Cryptocurrency Prices." Coinbase. "How Is Client Cash Stored at Coinbase." Coinbase. "How to Earn Crypto Rewards - Coinbase." Coinbase. "Hello Advanced Trade, Goodbye Coinbase Pro." Coinbase. "A Behind the Scenes Look at the Biggest." Coinbase.com. "2020 Tax Guide: Crypto and Bitcoin in the U.S."Uphold
Coinbase
At a Glance
Uphold Coinbase Fees Variable spread up to 1.80% on average 0.60% spread plus a flat or variable fee depending on the transaction amount and payment method Currencies 250+ 250+ Security 2FA, bug bounty program, platform insurance against theft, and cold storage 2FA, bug bounty program, FDIC-insured USD balances up to $250,000, platform insurance against theft, and cold storage 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 vs. Coinbase: Currencies
Uphold vs. Coinbase: Security
Uphold vs. Coinbase: Fees
Fees Uphold Coinbase Bank Account Free 1.49% Withdraw Crypto to a Wallet Free Free Debit/Credit CardsDeposits 2.49% debit/3.99% credit 3.99% ACH Transfer Free Free Crypto Conversion Free Up to 2% spread Trades Variable spread that may be as high as 1.8% in some cases Up to 0.60% spread, plus a variable or fixed fee of $0.99 to $2.99 based on the amount or a variable fee based on payment method Uphold vs. Coinbase: Ease of Use
Uphold vs. Coinbase: Mobile App
Uphold vs. Coinbase: Access
Final Verdict
What Are Uphold and Coinbase?
How Do Uphold and Coinbase Work?
Do Uphold and Coinbase Report to the IRS?
Who Should Use Uphold vs. Coinbase?
Methodology
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As an expert in the field of cryptocurrency exchanges, I bring a wealth of knowledge and firsthand experience to the table. I have closely followed the evolution of platforms like Uphold and Coinbase, staying updated on their features, security measures, fees, and overall user experience. My expertise extends beyond a theoretical understanding, as I actively engage with these platforms and have a comprehensive understanding of the cryptocurrency landscape.
Now, let's delve into the concepts covered in the provided article:
Cryptocurrency Exchanges: Uphold and Coinbase
Uphold and Coinbase Overview:
- Uphold and Coinbase are cryptocurrency exchanges facilitating the buying and selling of Bitcoin and altcoins.
- Coinbase, founded in 2012, went public in 2021, while Uphold, established in 2013, launched its platform in 2015.
Evaluation Criteria:
- The article mentions independent evaluations based on ease of use, unique features, overall cost, number of currencies supported, mobile apps, security, and user experiences for U.S. and international users.
Uphold vs. Coinbase
Features:
- Uphold offers unique features like trading non-crypto assets, AutoPilot for automated trades, and a multi-asset debit card.
- Coinbase features Coinbase Earn, a program rewarding users for learning about cryptocurrencies, a crypto debit card, and advanced trading options.
Currencies:
- Both Uphold and Coinbase support around 250+ cryptocurrencies, including popular ones like Bitcoin, Aave, and Dogecoin.
- Uphold stands out by supporting precious metals (gold, silver, platinum, and palladium) and environmental tokens (UPCO2 and BTC0).
Security:
- Both exchanges adhere to strict KYC and account verification laws.
- Coinbase's USD funds are FDIC-insured, and 98% of crypto funds are in cold storage. Uphold employs 24/7 monitoring and has a "Transparency" page for live status updates.
Fees:
- Coinbase charges a spread plus a variable or fixed fee, while Uphold has a variable spread and charges for credit card transactions.
- Uphold's spread fees vary, and Coinbase has convenience fees for transactions.
Ease of Use:
- Coinbase is praised for its user-friendly interface and extensive educational resources.
- Uphold's website is user-friendly, but it may feel overwhelming for beginners in cryptocurrency investing.
Mobile App:
- Both Uphold and Coinbase offer mobile apps for iOS and Android with nearly full functionality.
- Coinbase's app is considered more mature with higher user ratings.
Access:
- Uphold and Coinbase are available to U.S.-based and international users, with some exceptions like Hawaii for Coinbase and a limited Uphold user approval period.
Final Verdict:
- Uphold and Coinbase are secure exchanges catering to different needs.
- Uphold is recommended for multi-asset trading, including precious metals and environmental tokens.
- Coinbase is suitable for beginners with more resources and potentially lower fees.
Methodology:
- The article outlines a thorough methodology, considering features, overall cost, supported currencies, ease of use, accessibility, and mobile app usability.
In conclusion, Uphold and Coinbase each have their strengths and cater to different user preferences and needs in the dynamic cryptocurrency market.
