[Wallets](https://revain.org/wallets/) › Uphold

# Uphold: keys, security, fees and reviews

## Key facts

- **Developer**: Uphold HQ Inc.
- **Official site**: [uphold.com](https://uphold.com/)

Checked on 2026-10-27 against the official site, docs and app-store pages.

## What is Uphold

Uphold is a multi-asset digital money platform run by the Uphold group (founded as Bitreserve in 2014, renamed Uphold in 2015). Its main trading account is custodial; Vault, a separate in-app feature, is a 2-of-3 multisig wallet in which the user holds two keys and Uphold one.

## Who holds the keys

| Parameter | Details |
|---|---|
| Custodian | Main Uphold account: custodial. Uphold holds the private keys and keeps funds in its own name for the user's benefit. |
| Account model | For US users, crypto is held in pooled custodial wallets; internal ledgers track each user's holdings. |
| Key control | Vault: 2-of-3 multisig. The user holds the Vault Key and Backup Key; Uphold's key only co-signs user-initiated moves and key replacement. |
| Seed phrase | The Vault Backup Key is a 12-word seed phrase; the Vault Key sits in the phone's secure element, with an optional iCloud or Google Drive backup. |
| Recovery | If one Vault key is lost, Uphold's key plus the remaining user key can generate a replacement; losing both user keys without backups means losing the funds. |

## Features and supported networks

| Parameter | Details |
|---|---|
| Supported networks | Vault: BTC, HBAR, XRP and some XRPL tokens (CORE, SOLO, RLUSD). The trading account lists 260+ assets. |
| Platforms | Vault works only in the Uphold mobile app; the Vault Key is stored in the phone's secure enclave, so there is no web or desktop Vault. |
| Multisig | Two of three keys are needed to move Vault funds; the user can move them with their own two keys without Uphold. |
| Swaps | One-step trading between any two supported assets on the platform. |
| Staking | Staking of more than 20 digital assets on the custodial platform. |
| Inheritance | Vault Inheritance for BTC, HBAR or XRP: one adult beneficiary with an Uphold account; claims need legal documents such as a death certificate. |

## Security and audits

- Open-source status of the Uphold apps and Vault is not stated.
- Uphold reports SOC 2 Type 2, ISO 27001 and PCI DSS certification.
- Runs a public bug bounty programme on Intigriti and states regular audits and penetration tests.
- Publishes its assets and liabilities on its website and states that reserves exceed 100%.

## Fees

| Parameter | Details |
|---|---|
| Swaps | Priced via a spread; typical US/UK/EU rates: BTC and ETH 2.05–2.2%, altcoins 2.85–3.8%, USD to supported USD stablecoins 0% (with limits). |
| Subscription | Vault: $19.99 per month or $199.99 per year after a 30-day free trial; network fees apply to moves in and out. |
| Staking | Commission on staking rewards: 35% for boosted staking (from 15 October 2026), 50% for flexible staking. |

## History

| Date | Event |
|---|---|
| 2014 | Bitreserve is founded by Halsey Minor as a Bitcoin storage platform. |
| 2015 | Bitreserve is renamed Uphold. |
| 2016 | Adds Ethereum and Litecoin support. |
| 2017 | Raises $58M in Series B funding. |
| 2021 | Becomes an Electronic Money Institution agent and launches the Uphold Card. |
| 2023 | Launches Vault, its assisted self-custody multisig wallet, first for XRP; BTC and HBAR were added later. |

## Risks and caveats

- Funds in the main Uphold account are custodial: Uphold holds the private keys.
- Vault: losing both user keys without backups means permanent loss of the funds.
- Vault depends on a subscription; after it ends Uphold's key is deleted after 60 days and a new Vault is needed to resubscribe, though the user's two keys still work.
- Uphold's Canadian entity has withdrawn its registration application in certain Canadian jurisdictions and no longer offers registrable services to Canadian residents.

## About the developer

- **Legal entity**: US users: Uphold HQ Inc., San Francisco, NMLS ID 1269875.
- **Legal entity**: Vault providers: Uphold HQ Inc. (US except NY), Uphold Europe Limited (UK), Uphold Digital Assets Europe Unipessoal, Lda (EEA), Uphold Worldwide Ltd. (other).
- **Licence / registration**: FinCEN-registered money services business in the US; EMD agent of an FCA-regulated e-money issuer in the UK.
- **Founders**: Halsey Minor (as Bitreserve, 2014).

## Official links

- Website: [uphold.com](https://uphold.com/)
- Vault: [uphold.com/vault](https://uphold.com/vault)
- Fees: [uphold.com/en-us/get-started/service-fees](https://uphold.com/en-us/get-started/service-fees)
- Security: [uphold.com/en-us/get-started/security](https://uphold.com/en-us/get-started/security)
- Legal: [uphold.com/en-us/legal](https://uphold.com/en-us/legal)
- Status: [status.uphold.com](https://status.uphold.com/)

## Questions and answers

**Is Uphold self-custodial?**

The main Uphold account is custodial: Uphold holds the private keys. Its optional Vault feature is a 2-of-3 multisig wallet in which the user holds two keys and Uphold one.

**Which coins does Uphold Vault support?**

Vault supports BTC, HBAR, XRP and the XRPL tokens CORE, SOLO and RLUSD. The trading account lists more than 260 assets.

**Does Uphold charge fees?**

Trades are priced through a spread, e.g. 2.05–2.2% for BTC and ETH in the US, UK and Europe. Vault costs $19.99 a month or $199.99 a year after a 30-day trial.

**Is Uphold audited?**

Uphold reports SOC 2 Type 2, ISO 27001 and PCI DSS certification and runs a bug bounty on Intigriti. Whether its app code is open source is not stated.

**Who makes Uphold?**

The Uphold group; US users deal with Uphold HQ Inc. in San Francisco. It started as Bitreserve, founded by Halsey Minor in 2014.

## Sources

- [uphold.com](https://uphold.com/)
- [apps.apple.com](https://apps.apple.com/us/app/uphold-trade-crypto-stocks/id1101145849)
- [Uphold — Vault](https://uphold.com/vault)
- [Uphold — Vault: Assisted Self-Custody for Crypto](https://uphold.com/en-us/blog/vault/vault-assisted-self-custody-for-crypto)
- [Uphold — User Agreement (USA)](https://uphold.com/en-us/legal/membership-agreement/usa)
- [Uphold — Vault Terms of Use](https://uphold.com/en-us/legal/vault-terms-of-use)
- [Uphold — Service Fees](https://uphold.com/en-us/get-started/service-fees)
- [Uphold — Security](https://uphold.com/en-us/get-started/security)
- [Uphold — Celebrating 10 Years of Uphold](https://uphold.com/en-us/blog/company-news/10-years-of-uphold)
- [Uphold — Regulators for residents of the United States](https://uphold.com/en-us/legal/regulators-for-residents-of-united-states)
- [Uphold — About](https://uphold.com/en-us/resources/about)
- [Uphold — BTC is Now Live on Vault](https://uphold.com/en-us/blog/vault/btc-vault)

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Page updated: 2026-10-29

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Source: https://revain.org/wallets/uphold/