This Binance vs. Uphold comparison is composed to give you a better idea about those platforms for cryptocurrency users.
So, if you want to know the better option and trade with confidence, keep reading.
An Overview of Binance vs. Uphold Comparison
A variety of cryptocurrencies and fiat currencies can be purchased or sold on exchanges like Binance and Uphold.
With either service, investors can buy coins using a bank account, credit card, or even a debit card. Both platforms, however, are vastly different.
With Uphold, you may buy and sell cryptocurrency, as well as precious commodities like gold and silver. However, for individuals who are unfamiliar with the crypto market, it can be a challenge.
As an alternative, foreign traders can trade in numerous currencies on Binance, despite the steep learning curve.
There are a lot of things to learn about how Binance and Uphold stack up against each other. So, keep reading to find out more!
Here’s an overview of the Binance vs. Uphold comparison before everything else.
● Uphold
It is possible to trade fiat, crypto, and equities on Uphold’s cloud-based trading platform. Users can, for example, exchange Bitcoin for XRP. Auto-trading allows you to invest on a regular basis in specific assets.
It’s easy to send funds to loved ones using any of Uphold’s authorized assets. Alternatively, you can transfer the money to banks, a private wallet, or even a crypto exchange for free.
Also, here is the comprehensive Uphold vs. Coinbase comparison for your reference.
● Binance
Binance, as you may know, is the world’s largest crypto exchange service when it comes to daily trading volume.
Binance is a great place to get started in Bitcoin trading.
It is true even if you’re just getting started or you’re an experienced trader.
In addition, you’ll be able to use a variety of payment alternatives. UPI, Paytm, NEFT/IMPS, and more to conduct P2P transactions are supported.
| Name of the Cryptocurrency Exchange | Uphold | Binance |
| Supported platform | Android and iOS | Android and iOS |
| Supported a number of currencies | 52 | More than 500 if you are a global trader. However, if you are a US investor (Binance.US), there are 60 currencies to support you. |
| Fees | It May vary, and it will be up to 1.25% | It varies from 0.015% to 0.10% purchase and trading fees. For debit card purchases, a rate of 3.5% or 10 USD will be charged (whichever the higher). Wire transfers may incur a transaction fee of $15. |
| Supported transaction types | Sell, trade, buy, limit and hold | Limit order, stop-limit order, market order, P2P trading, trailing stop, post only, margin, and so on. |
| The maximum amount of trading | It may vary based on the type of the activity | The limit can vary depending on the purchased cryptocurrency. |
| Security features | 2-factor authentication, theft insurance for the platform, cold storage, bug bounty, etc. | 2-factor authentication, device management, FDIC insurance for USD (Binance.US). Whitelisting of addresses, cold storage, etc. |
| Main features | Accepts precious metals. No fee for sending funds to family members or friends. | Relatively low fee structure, comprehensive charts, and plenty of cryptocurrencies to select. |
Uphold vs. Binance | Features
When you compare Binance vs. Uphold, it is important to pay attention to their features as well.
● Uphold
- It is simple to purchase, sell, and “send” Bitcoin and other major cryptocurrencies.
- There are 31 cryptocurrencies to choose from, as well as three different national currencies.
- Any wallet can be used for transactions. This includes Bitcoin, XRP Ledger, Bitcoin Cash, Litecoin and Ethereum, networks, etc.
- Instantly send any payment to any user on Uphold.
- It does not lend out your funds, unlike banks.
- With a secure virtual wallet, you’ll be able to use it to store Bitcoins as well as Ethereum. It also supports other currencies.
- As of today, you can also purchase and hold US equities worth up to a penny each.
● Binance
- Buy Bitcoin, Binance Coin, Tezos, Ethereum, Link, Cardano, and other cryptocurrencies.
- Buy and trade cryptocurrency instantaneously with a credit or debit card linked to your bank account.
- (P2P transactions, accessible in a variety of payment methods, are fast and convenient.
- It is possible to use any one of the more than 150 different cryptocurrencies that are now supported.
- In terms of the safety of your money, they have put impressive measures.
- Binance’s app is a safe place to save your bitcoin.
- You may easily set up price notifications to get notified as soon as a new trend is published.
Fees
Here’s a comparison of Uphold vs. Binance in terms of the fees applied to their services.
| Fees | Uphold | Binance |
| Bank account | Free of charge | Free if you have created an account outside of the US |
| Wallet | Free of charge | Not applicable |
| Credit/Debit card | 3.99% | $10 or 3.5% (whichever is higher) |
| ACH | Free of charge | Not applicable |
| Wire transfer | If you deposit less than $5000, it will be $30. If the deposit is over $5000, it will be free. | A flat rate of $15 for each transfer |
| Cryptocurrency conversion | Free of charge | Free of charge. But the spread can be above the market price. |
| Trades | Variable. The spread can be even over 4% in certain cases. | It can vary and may reach even 0.1%. |
Customer Service
Well, customer service is another very important factor when you compare Binance vs. Uphold.
● Uphold
To contact representatives, “Uphold” recommends using the following channels.
Submit a request, FAQ section, Live Chat Support, Facebook, Twitter, and One Hub.
However, there is no telephone assistance available from Uphold.
● Binance
You can reach Binance’s customer care by accessing their support page if there are any queries or concerns.
Alternatively, you can tweet Binance Customer Support at @BinanceHelpDesk.
FAQs (Frequently Asked Questions)
Q: Is Uphold regulated?
A: Uphold is a regulated digital currency platform and complies with various regulatory requirements in the jurisdictions where it operates. Uphold is registered with the Financial Crimes Enforcement Network (FinCEN) in the United States and follows stringent anti-money laundering (AML) and know your customer (KYC) procedures.
Q: Can I use Binance in my country?
A: Binance has expanded its services to many countries worldwide. However, the availability of Binance’s services may vary depending on your country of residence. It’s advisable to check Binance’s official website or contact their customer support to determine if the platform is accessible in your region.
Q: Can I earn interest on my crypto holdings with Uphold and Binance?
A: Yes, both Uphold and Binance offer interest-earning opportunities for certain cryptocurrencies. Uphold has a feature called “Earn,” where users can lend their crypto assets and earn interest. Binance offers various savings and staking options that allow users to earn passive income on their crypto holdings.
Q: Are there any withdrawal limits on Uphold and Binance?
A: Both Uphold and Binance have withdrawal limits in place to ensure the security of user funds. These limits may vary depending on factors such as account verification level and the type of cryptocurrency being withdrawn. It’s advisable to review the respective platforms’ withdrawal policies to understand the specific limits that apply.
Q: Which platform is better for beginners?
A: Uphold’s user-friendly interface and simplified features make it an excellent choice for beginners who are new to cryptocurrency trading. Binance, while more comprehensive, may be better suited for users with some prior experience or those seeking advanced trading options.
Q: Can I use both Uphold and Binance simultaneously?
A: Yes, you can use both Uphold and Binance simultaneously. Some users prefer to diversify their crypto holdings across multiple platforms for added security and access to a broader range of cryptocurrencies.
Conclusion of Uphold vs. Binance Comparison
In this Uphold vs. Binance comparison, you will see both of the options are safe and convenient ways to exchange crypto and have a wide variety of options.
If you’re interested in trading cryptocurrencies or purchasing precious metals, “Uphold” may be a good choice. However, newcomers to cryptocurrencies may find it challenging to use.
Binance, on the other hand, provides crypto traders with a superior user experience for anyone. That’s in addition to their wider selection of currencies. If that wasn’t enough, it also allows its customers to explore the cryptocurrency world.
We hope that our Binance vs. Uphold comparison article has provided you with a thorough understanding of both exchanges.
