Uphold vs Coinbase: Fees, Cryptos, Trading Features Compared 2023

Uphold vs Coinbase - which company is better for your needs? It can be difficult to choose between these exchanges because they are both long-standing, have similar functionalities, and provide a wide range of options.

Uphold and Coinbase are both cryptocurrency exchanges but are not the same. We will go over their differences so you can think about which one you would like to join.

Advantages and disadvantages of Coinbase

About Uphold exchange

Uphold is a cloud-based platform that allows users to store, buy and convert various assets. Uphold is a multifunctional platform that allows users to store, buy and convert various crypto assets. The system supports not only 100+ cryptocurrencies (and service tokens) but also allows exchanging 27 national currencies and 4 precious metals.

This digital wallet is designed to store assets quickly and easily, send funds to other Uphold users around the world and exchange currencies instantly. Using a 100% reserve model, Uphold subsidizes all user assets at a 1:1 ratio from its own funds.

About Coinbase Exchange

Coinbase is a reputable trading platform with a solid trading volume and high capitalization. The crypto-exchange allows verified users to earn money from exchanging or trading transactions. In addition, Coinbase online wallet is available for everyone, using which you can safely store cryptocurrencies, complying with all terms and conditions of the service.

Coinbase is a regulated company with offices in the UK (CB Payments, Ltd) and Kenya (Coinbase Ascending Markets Kenya Limited). It owns many cryptocurrency services. It started operating in 2012. Coinbase has the necessary licenses to operate in most U.S. states.

Comparative analysis of Uphold and Coinbase exchanges

Available features

Both crypto-exchanges focus on cryptocurrency trading. 

Uphold offers: 

Coinbase offers:

Available countries

Uphold and Coinbase exchanges are available in more than 100 countries. These exchanges do not provide trading services in sanctioned countries. 

Payment methods

You can fund your Uphold and Coinbase account with a bank card, PayPal or cryptocurrency.

Card Support

All types of bank cards from supported countries are available on Uphold and Coinbase.

Available Cryptos and Tokens

Uphold currently supports 200+ coins. 

While Coinbase supports 533 trading pairs and 219 coins.

Verification (KYC)

To unleash the full potential of Uphold, you need to prove your identity. Verification with confirmation of documents on Uphold will also not take much time. This service is provided by a third-party service, so all data is stored by the verification service.

The verification is done with a cell phone. You will be asked to scan a QR code with your phone, and all further steps will be performed in it. You can read the requirements below: Selfies on your phone camera, Photo of ID on both sides (passport, driver's license, ID card).
Once all the information is provided and sent, you have to wait a couple of minutes. If all is well, you will see an updated status.

Creating a user account on Coinbase only allows you to use an online cryptocurrency wallet. In order to make conversions and trade, earning on price differences of exchange assets, it is necessary to verify an account in the system. In other words, it is required to enter contact information with its documentary proof. This option is not available for all countries.

Account deposit

Exchanges offer the following options for funding the account:

Comparison of Trading Fees

Uphold:

Coinbase:

Account security

Uphold's numerous patent-pending and proprietary technologies - including the Reserveledger™ and Reservechain™- vetted by regular independent audits, allow you to verify our obligations, transaction flows, assets, and solvency. At any time, you can confirm our reserve holdings and ensure that your funds are safe.

At Coinbase the level of protection is as follows: Password, Confirmation by SMS, 2FA, Hardware keys.
It is possible to configure at what amount of money is sent the exchange will ask for two-factor authentication.

Passive earn on exchanges

Uphold allows earn up to 19.5% on your staked crypto. Put your digital assets to work and enjoy your crypto rewards.

Coinbase has Ethereum 2.0, Tezos, Cosmos, Solana, Algorand, Cardano cryptocurrency stacking feature with yields up to 6% p.a. (varies).

Which to choose - Uphold or Coinbase

Coinbase is a much more famous and popular exchange. Coinbase offers top functionality and low commissions. Most users choose Coinbase. Uphold is also noteworthy because it has its own interesting features.

Disclaimer:

NFTs trading entails a high level of risk and is not suited for all investors. You should carefully evaluate your investment objectives, degree of experience, and risk appetite before deciding to trade cryptocurrencies. You should not invest money that you cannot afford to lose because there is a chance that you will lose some or all of your initial investment.

You should be aware of all the dangers connected with cryptocurrency trading and seek counsel from a financial expert who is not affiliated with any cryptocurrency exchange. This website's opinions, news, research, analysis, pricing, and other information are offered as general market commentary and do not represent investment advice.

FAQs

Does Uphold steal your money?

Uphold is a trusted company that has been in business since 2015. We have never had a single customer complaint about being scammed or having their money stolen. Uphold is regulated by the New York Department of Financial Services and is listed on the London Stock Exchange. We are committed to protecting our customers' funds and providing a safe and secure platform for them to buy, sell, store, and send digital assets.

Is my money safe with Coinbase?

Yes, of course. Coinbase is a fully legal exchange which has passed many audits.

Is it safe to keep XRP on Uphold?

Yes. Uphold is a reliable exchange that has been in business since 2015. It is one of the largest and most well-funded digital asset platforms in the world. Uphold has never been hacked and has a very strong security record. XRP is one of the safest assets on Uphold.

Is Coinbase better than Uphold?

For now, it seems that Coinbase is better than uphold because it offers more services than just crypto trading options. It also has a secure platform that can be used as an online wallet.

Conclusion

It's important to research different exchanges thoroughly and pay attention to all the features they offer. It may be that one particular feature will be most important for you, but make sure you're prepared to spend a significant amount of time researching your options beforehand. Both exchangers reviewed today have been operational for a long time and are therefore deserved of trust. Both UpHold and Coinbase are rapidly developing along with the crypto sector, which is necessary for any company to survive.