Are you torn between Coinbase and Uphold for your cryptocurrency trading needs? We understand the struggle. That's why we've taken a deep dive into both exchanges to compare their features, fees and user experience. By the end of this comparison, you'll have a clear idea of which exchange is the best fit for your trading goals. So sit back, relax, and let us help you make an informed decision.
When it comes to choosing a cryptocurrency exchange, there are many factors to consider. Two popular options in the market are Coinbase and Uphold.
Firstly, let's take a look at Coinbase. Founded in 2012 by Brian Armstrong, Coinbase is registered in the District of Columbia and has over 5000 employees. The platform is licensed by FinCEN & FCA, making it a trustworthy and reliable exchange.
Coinbase is available in over 100 countries and supports over 200 cryptocurrencies. With over 100 million users, Coinbase is the largest cryptocurrency exchange in the world with 10 million downloads on the Android platform alone.
On the other hand, Uphold was founded in 2013 by Halsey Minor and is based in London. Uphold has over 300 employees and is available in 184 countries. The platform is licensed by FinCEN & FCA, making it a secure platform for trading cryptocurrencies. Uphold supports over 300 cryptocurrencies and it's mobile app has a 4.7 star rating based on 40,000 reviews.
Uphold is restricted in some countries like Argentina, Australia, Austria, Belgium, Germany, Netherlands, and others. Overall, both Coinbase and Uphold are reputable and secure cryptocurrency exchanges with a large user base across North America and Europe.
Coinbase vs Uphold: Signup & KYC
Both Coinbase and Uphold require KYC verification to ensure the safety and security of their users. Signing up for Coinbase takes only about a minute, as you need to verify your email, phone, and personal information. The verification process can take a few minutes to a few hours.
On the other hand, Uphold's signup process is straightforward, with only your email, password, country of residence, and citizenship required. Uphold's verification process can be done as quickly as a few hours, but it can take up to 24 hours to process. Once you're verified, both exchanges offer full trading and transfer capabilities.
Coinbase vs Uphold: Product & Features
Coinbase is a household name in the crypto world, boasting a high trading volume of $1.2 billion in spot trades per day. Coinbase offers a wide range of products, including the buying cryptocurrencies, lending and borrow, a web 3 wallet, NFTs and learn and earn. The user experience on Coinbase is quite good with a website that is beginner-friendly and easy to navigate. However, some users have reported frequent connection issues and login delays.
Uphold on the other hand offers a different set of products, including crypto trading, metals trading, recurring buys and staking for 32 cryptocurrencies. Uphold has a clean and simple interface which is great for beginners. The exchange also supports 15 stablecoins, making it an attractive option for those who want to hold a stable cryptocurrency.
In terms of security, both Coinbase and Uphold have provided proof of reserves, which is a positive sign for their reliability. Coinbase is also a public company and conducts quarterly audits which adds an extra layer of protection for users.
In terms of trading fees, Coinbase charges a trading fee of 0.40% for taker trades and 0.60% for maker trades. While Coinbase does not offer futures or margin trading, it still remains a popular choice due to its user-friendly interface and ease of use.
On the other hand, Uphold charges a $0.99 USD fee for cryptocurrency transactions under $100, and a spread of 0.9-1.8% for trades above that. However, the spreads in the US, EU and UK are closer to 0.9%-1.2%.
When comparing Coinbase and Uphold, both offer buying crypto with card as well as support for fiat deposits. However, Coinbase charges a higher transaction fee when buying and selling cryptocurrencies with a range of 1%-5%, while Uphold charges a lower 1% fee.
In terms of fiat currency support, Uphold offers support for the USD, EUR, and GBP, while Coinbase supports the USD, EUR, and GBP as well as the CAD, AUD, and JPY. When it comes to deposit methods, both exchanges offer bank transfers, but Coinbase also offers SEPA and Swift transfers while Uphold offers Faster Payments for GBP deposits.
With a range of options for fiat withdrawals, including ACH, Wire, SEPA, and Swift, Coinbase offers flexibility and convenience to its users. ACH deposits are free, while Wire deposits incur a fee of $10 USD. SEPA deposits are available for 0.15 EUR, and Swift deposits are free. All fiat bank transfers are also free of charge.
Meanwhile, Uphold allows for bank transfers (ACH/Wire), SEPA, and Faster Payments (FSP), all without any withdrawal fees. In addition, Uphold offers the option to deposit funds with credit cards, with a fee of 3.99%, or with debit cards, which incur a fee of 2.49%. Regardless of your preferred method, both exchanges offer reliable and secure ways to withdraw and deposit your assets.
When it comes to cryptocurrency withdrawals, both Coinbase and Uphold offer competitive rates that won't break the bank. Coinbase charges a low 0.0001 BTC for BTC withdrawals, while Uphold's rate stands at 0.0005 BTC. However, if you're looking to withdraw ETH, it's worth noting that Uphold charges a slightly higher fee of 0.0006 ETH, compared to Coinbase's rate of 0.0004 ETH. Regardless of your preference, both exchanges offer reliable and secure ways to withdraw your assets with ease.
When comparing Coinbase and Uphold, both offer reliable and secure platforms for buying, selling, and trading cryptocurrencies. However, Coinbase has a larger user base, supports a wider range of cryptocurrencies, and has a user-friendly interface.
Uphold on the other hand is really easy to use and offers but unique features including staking for over 30 cryptocurrencies which is not available with Coinbase. While Coinbase is slightly cheaper in terms of trading fees, both options are safe and convenient for new crypto investors.
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Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.