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Uphold vs. Coinbase: Which Should You Choose?

Uphold vs. Coinbase: Which Should You Choose?
Written by publishing team

Outlay holding on Queen Piece
Bank account free 1.49%
Withdraw cryptocurrency to wallet free free
Debit / Credit Cards 3.99% 3.99%
ACH . conversion free free
wire transfer $30 for deposit under $5,000 or free for over $5,000. Deposit $10, withdraw $25
Cryptocurrency exchange free Spread up to 2%
character Variable prevalence may reach 4% in some cases Spread of up to 0.50%, plus variable or fixed fees from $0.99 to $2.99 ​​depending on the amount or variable fees based on payment method


Support vs Coinbase: Ease of Use

Coinbase continues to stand out from the competition for its ease of use. The registration process is straightforward, and it is easy to find details about the platform, cryptocurrencies, and even learn how to start trading.

Likewise, Uphold is easy to use, and the website is easy to navigate. Advanced transaction types require some investment experience and adding stocks and metals increases the complexity. However, Uphold offers a “one-step trading capability,” whereby users can trade any crypto asset for another.

Both exchanges offer customer service via email or Twitter. Although the Coinbase knowledge base and help articles are extensive, Uphold provides plenty of information about the platform and some useful articles for novice traders.


Support vs Coinbase: Mobile App

Coinbase and Uphold both offer a mobile app for Android and iOS phones. The apps offer almost complete functionality compared to the websites. However, you won’t find advanced chart options in either of them. However, the Coinbase app appears to be a little more mature with fewer bugs and navigation issues, which earns it higher user ratings. Coinbase offers two other apps, including a standalone hot wallet called Coinbase Wallet and the Coinbase Pro app with advanced features and transactions.


Support vs Coinbase: Access

Uphold and Coinbase are available for US and global users. However, Hawaiians are excluded from both platforms. Additionally, shares in Uphold are not available to US or European investors. But, if you are in the US and want to buy Ripple (XRP), Uphold supports it while Coinbase does not. US-based investors also cannot 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 that offer a good selection of cryptocurrencies and useful features for traders, such as Uphold’s AutoPilot and Coinbase Earn program. But, people who want a multi-asset trading platform should head to Uphold to purchase precious metals, national currencies and eco-tokens. Meanwhile, those who want lower fees and more opportunities to earn free crypto will appreciate the Coinbase or Coinbase Pro platforms.


Frequently Asked Questions

What are Uphold and Coinbase?

Uphold is a multi-asset exchange, which means that users can buy and sell cryptocurrencies, national currencies, stocks and precious metals. In contrast, Coinbase is a cryptocurrency exchange that supports many cryptocurrencies and stablecoins. Investors can buy, sell, deposit or withdraw using Uphold or Coinbase. Also, both systems offer a discount card. Uphold is a multi-asset Mastercard, while Coinbase is an encrypted Visa card.

How does Uphold and Coinbase work?

Uphold and Coinbase users can access the cryptocurrency exchange from a web browser or through the associated mobile apps. Once the verification process is complete, which can take additional time, investors can add funds to purchase the assets depending on their location. They both support ACH, bank transfers, and credit and debit cards. Coinbase also allows users to buy or withdraw using PayPal. Coinbase also gives out crypto rewards when users watch videos or read guides about blockchain and cryptocurrencies. On the other hand, Uphold offers autopilot for recurring deals.

Does Uphold and Coinbase Report to the IRS?

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 an IRS 1099-MISC form to Coinbase users who are U.S. persons and have earned $600 or more in rewards or fees from Coinbase Earn, USDC Rewards, and/or staking.

Who Should Use Uphold vs Coinbase?

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 getting started with Coinbase. However, Uphold is a multi-asset exchange, so users wanting to buy and sell precious metals, US stocks or cryptocurrencies should start there. Furthermore, Uphold offers unique eco-currencies called carbon credit tokens, which are not provided on Coinbase.


methodology

We reviewed Uphold and Coinbase by looking at the features that made each platform stand out, such as the ability to earn cryptocurrency on Coinbase or trade precious metals on Uphold. We also looked at the total cost of the investment, including the different spreads and fees. We then compared both platforms with supported currencies, ease of use, and accessibility for living in the US and internationally. Finally, we looked at the usability of mobile apps and thought of several use cases to determine what type of investors would be most comfortable with on each platform.

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publishing team