Is Uphold better than Coinbase, or the other way around?
This Uphold vs. Coinbase comparison will reveal the truth so you can decide the best option to exchange crypto.
What Are Uphold and Coinbase?
A cryptocurrency exchange account is required to buy, sell, or swap digital currencies such as Bitcoin. Large cryptocurrency exchanges like Coinbase and Uphold cater to U.S. residents. So, it does allow you to sell, buy, and trade a wide variety of cryptocurrencies.
Coinbase is a great place to start if you’re new to cryptocurrencies. In addition, Coinbase is considered to be a more sophisticated platform.
So, it is ideal for intermediate to advanced crypto traders and is available to all eligible traders. Precious metals with supported equities can be purchased on the Uphold platform.
When deciding between Coinbase and Uphold, it’s a great idea to take a look at the pros and cons. This means you should compare both Uphold vs. Coinbase. That said, this Uphold vs. Coinbase comparison is created, including all the features of each.
Uphold vs. Coinbase Comparison: Pros and Cons
Now, in this Uphold vs. Coinbase comparison, we explain the pros and cons of each. First, will take a look at the pros and cons of Uphold.
- It allows you to trade metals and stocks in addition to your favorite cryptocurrencies.
- You can use it to convert any asset to another within the platform.
- It is integrated with the rewards of the Brave browser.
- It doesn’t have a large number of cryptocurrency options like other competitors.
- Its spreads might exceed 3% on metals and 1% on BTC.
Here are some pros and cons related to Coinbase.
- It is easy to use when it comes to buying crypto, including Bitcoin and Ethereum.
- Lower pricing is available if you go for Coinbase Pro
- It has an advanced platform for trading
- There are opportunities to earn crypto for free
- Higher transaction fees (that might hit the value of $2.99) at times per trade.
- Most asset prices are integrated with 0.50%.
Besides, let’s figure out what is AMP Coinbase quiz and how to take part in AMP Coinbase Quiz, as well as the answers to the Coinbase quiz.
Coinbase vs. Uphold Comparison at a Glance
|Transaction Fees||The spread price can reach 1% or even 3% based on the asset.||0.99 USD to 2.99 USD + .50% spread.|
|Number of Currencies Supported||52||62|
|Security Measures||2FA, Bank-level encryption||2FA, Bank-level encryption|
|Wallet Type||Software wallet integrated||Software wallet integrated|
|Supported Transactions||Limit, Market||Market|
|The Maximum Amount of Trading||Unlimited||Unlimited|
|Mobile Application||Yes (both Android and iOS)||Yes (both Android and iOS)|
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Coinbase comes out on top when it comes to ease of usage. Are you a cryptocurrency rookie looking to purchase, sell, or trade crypto? If so, you’ll want to check out Coinbase.
It’s easy to sign up. Also, it includes a simple mobile app or website to buy cryptocurrency in a matter of seconds.
It’s a little more difficult to get started with Uphold, but when you’re hooked in, the system is user-friendly.
It is true that Uphold’s accounts are a little more complicated. Anyone who is familiar with P.C. and the foundations of cryptocurrencies should be able to handle them.
Also, reading this Kraken vs. Uphold comparison will make it easier for you to choose the best option.
Your interaction with Uphold is protected by a high level of encryption. If you maintain a financial portfolio with this feature, it’s a smart move to turn on 2-factor authentication.
A six-digit passcode produced by an authorization app on the phone must be entered when this function is activated.
Coinbase also provides two-factor authentication and high levels of security. Maintaining the safety of your profile information is important in any exchange.
In the event of a theft, you may have little or no remedy for recovering your lost bitcoins. That is because anyone with permission can send them to their own digital wallet.
A strong password should be used on all websites, especially financial and crypto ones, to protect your assets. So, if you compare Uphold vs. Coinbase in terms of security features, it is a draw!
Now, in this Coinbase vs. Uphold comparison, let’s take a look at the features.
Features of Uphold
- You can trade between supported assets through this platform. It has no restrictions on some of the currency pairs, and that’s a very impressive feature.
- The other great thing about Uphold is that it allows you to trade assets beyond crypto. For instance, you can trade foreign currencies, precious metals, and some stock shares as well.
- It supports the rewards offered by Brave Browser. That means it works with the crypto called BAT, so you can withdraw to your Uphold platform.
- Transactions are automated on this platform. When you are on autopilot mode, it is possible to schedule even 100-USD-worth bitcoin monthly. On top of that, it has One-time scheduled transactions.
- As per uphold, you will be able to limit orders for your safety.
- This specific platform works with various third-party integrations. With Uphold, you can get the advantage of various features, including Taxbit and Tap Rewards.
Features of Coinbase
- Coinbase is one of the easiest ways to purchase cryptocurrencies. You can use it to buy cryptocurrencies through your account balance. If not, you can purchase it through your bank account. If that’s not enough, you can even use debit cards or PayPal. However, those methods may incur a smaller extra fee.
- If you go for the Coinbase Pro version, you will experience low prices with more features. You will pay only 0.50% as the spread and gain more options and trading tools through Coinbase Pro.
- Coinbase has a very interesting feature that allows you to earn crypto as well. When you sign up for Coinbase, it allows you to earn free crypto in the form of a reward. All you have to do is to watch their short videos to claim your crypto rewards. These videos are about crypto and the Coinbase platform.
So, is Uphold better than Coinbase according to the above features? Just keep reading to know more about them.
It is true that there are over 10,000 different cryptocurrencies. However, the vast majority of people are primarily concerned with the top twenty or so currencies by market cap.
Both Uphold and Coinbase provide you with accessibility to several of the popular cryptocurrencies. Also, the access they provide to other currencies is pretty comparable.
The fact that Uphold extends beyond digital currencies is the most notable aspect of this. In addition, you can acquire stock shares, foreign currencies, and precious metals from other countries.
Two of the platform’s cryptocurrencies are designed specifically for exchanging carbon credits. At Uphold, you can participate in some unusual trading opportunities. The truth is that these opportunities aren’t available on the majority of other crypto exchanges.
The drawback of every investment is the payment of fees. Therefore, you should make every effort to stay away from them. Coinbase’s fee structure is rather obvious, but Uphold’s costs are partly masked in the form of asset price spreads.
Coinbase charges transaction fees that vary from 0.99 USD to 2.99 USD, depending on the size of the trade. That is in addition to a spread of approximately 0.50 percent. That is not the most economical option available.
However, it is more so than the normal spread that is offered at Uphold. Uphold imposes a transaction fee that ranges from 0.8 percent to 1.2 percent on most Bitcoin and Ethereum transactions. Also, a 1.8 percent fee is incurred on many other major cryptocurrencies. But the truth is that margins can sometimes be significantly higher.
There are other spreads offered by Uphold. For instance, one percent for equity markets in the United States and three percent for precious metal varieties. Also, it incurs a 0.2 percent for important national currency pairs. On the other hand, you won’t have to worry about any additional fees for every deal.
|Type of Transfer||Uphold||Coin Base|
|Purchasing through a bank account||Free||1.49%|
|Purchasing through a debit card||Free||3.99%|
|Purchasing through PayPal||N/A||3.99%|
Both Coinbase and Uphold provide mobile apps. These mobile apps replicate the functionality of their respective websites to an almost perfect degree.
It’s possible that some consumers will find it simpler to navigate and use the mobile application. Compared to website versions, mobile apps show speedier performance. Additionally, you can utilize them even when you are on the move.
Coinbase offers apps for its primary platform as well as specialized apps for its other products. Namely, they are Coinbase Wallet and Coinbase Pro.
At this time, Uphold only provides a dedicated mobile app. It can be used to manage the account easily. You can do it regardless of the location.
From any location with an active internet connection, both can be downloaded on mobile devices running iOS and Android devices.
Now, in this Coinbase vs. Uphold comparison, let’s pay attention to accessibility. Coinbase and Uphold may have features that aren’t available to users in some countries, including the United States.
Customers in the United States cannot buy Ripple (XRP) via Coinbase because of ongoing legal action against the company. Uphold Users can purchase XRP in all states in the U.S. except New York if the account is US-based. However, international users will have no problems doing so.
FAQ 1: Is Uphold a safe platform for storing cryptocurrencies?
Yes, Uphold takes several security measures to ensure the safety of user funds and personal information. These measures include two-factor authentication (2FA) and the storage of the majority of user funds in offline, cold storage wallets.
FAQ 2: Can I convert one cryptocurrency to another on Uphold?
Yes, Uphold offers an “Anything-to-Anything” trading feature, allowing users to instantly convert between various cryptocurrencies and fiat currencies.
FAQ 3: Does Coinbase support cryptocurrencies other than Bitcoin and Ethereum?
Yes, Coinbase supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and many others.
FAQ 4: How does Coinbase ensure the security of user funds?
Coinbase employs advanced security measures such as secure offline storage (cold storage) for the majority of user funds. The platform also implements encryption techniques and two-factor authentication to protect user accounts.
FAQ 5: Does Uphold charge fees for trading cryptocurrencies?
Yes, Uphold charges fees for certain transactions, conversions, and withdrawals. However, the platform allows users to trade between supported assets with zero fees.
FAQ 6: Can I use Uphold or Coinbase on my mobile device?
Yes, both Uphold and Coinbase offer mobile apps for users who prefer to trade on their smartphones or tablets.
In general, the majority of customers across the U.S. should consider using Coinbase because it offers superior features. Lower spreads might probably cover up the fees on relatively bigger trades.
In addition to that, aggressive traders who move to Coinbase Pro can save considerably more money. It is true that Uphold makes it more enjoyable to exchange between the numerous supported currencies.
However, the overall experience is not as good as the one you would get on the Coinbase platform. This is specifically true if you are situated in the United States.
What’s Your Opinion? is Uphold Better Than Coinbase?
So, that’s our Coinbase vs. Uphold comparison. As you can see, both platforms come with unique features.
So, it all comes down to your decision after reading this comparison. As we believe, however, Coinbase stands a tad ahead of its rival in terms of affordability.
However, if you want more currencies to trade with, go for Uphold. Anyway, what’s your opinion on this? Do you suggest Coinbase or Uphold? Is Uphold better than Coinbase?