Uphold vs. Coinbase

At a Glance

Uphold vs. Coinbase: Features

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:

• Trade non-crypto assets: Uphold users can trade about 50 U.S. stocks, four precious metals, and 27 national currencies. 
• AutoPilot: Automate your trades by creating a recurring buy or sell order on Uphold.
• Multi-asset debit card: Unlike the Coinbase Visa debit card, Uphold’s Mastercard debit card - available in the U.K. only - supports payments via crypto, gold, or national currencies.

While Coinbase doesn’t have an open API or support trades of precious metals, the exchange appeals to users because of the following features:

• Coinbase Earn: Coinbase users can watch videos or read tutorials about various cryptocurrencies and earn rewards.
• Crypto debit card: A Visa debit card that lets you spend your crypto online and in stores globally. 
• Interest-bearing accounts: Put your USD Coin (USDC) into a Coinbase savings account to earn up to 0.15% annual percentage yield (APY).
• Advanced Trade : Advanced Trade is Coinbase's advanced trading platform, replacing Coinbase Pro in late 2022. Advanced Trade offers enhanced tools like interactive charts powered by TradingView, advanced order types, and access to other key features like staking, Borrow, Card, and dApp Wallet. 

Uphold vs. Coinbase: Currencies

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. Coinbase features 200+ cryptocurrencies and stablecoins, whereas Uphold has 250+. 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.

Uphold vs. Coinbase: Security

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. 

In comparison, Uphold notes specific security features for European users, including holding roughly 90% of funds in cold storage and an insurance policy against security breaches for currencies held on the exchange. It offers a “Transparency” page with live statuses of their reserves. 

Uphold vs. Coinbase: Fees

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 for $50 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, 0% withdrawal fees, and 0% trading commissions; 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:

• BTC and ETH: For U.S., U.K., and European users, the spread runs 0.9 to 1.2%, while it’s about 1.8% in other places.
• Altcoins: Uphold says, “Spreads can be significantly higher for low-liquidity cryptos and tokens including Ripple (XRP), Zilliqa (ZIL), Orchid (OXT), Universal Protocol Token (UPT), and DOGE.”
• Metals: Uphold charges 2.0% "on top of the bid-ask prices at our supplier.”
• Fiat: Users usually pay “0.2% between major national currencies such as EUR, USD, and GBP.”

Uphold vs. Coinbase: Ease of Use

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 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. 

Uphold vs. Coinbase: Mobile App

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 vs. Coinbase: Access

Uphold and Coinbase are available to U.S.-based and international users. However, residents of Hawaii are excluded from both platforms. But, if you’re in the United States and want to buy Ripple (XRP), Uphold supports it while Coinbase doesn’t. U.S.-based investors also can’t buy Amp (AMP), Gitcoin (GTC), Golem (GNT), Loom Network (LOOM), Enzyme Finance (MLN), or Shiba Inu (SHIB) on Coinbase. 

Final Verdict

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. 

Methodology

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.