Uphold: keys, security, fees and reviews

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Key facts

Developer: Uphold HQ Inc.
Official site: 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

Who holds the keys — Uphold
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

Features and supported networks — Uphold
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

Fees — Uphold
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

History — Uphold
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
Vault: uphold.com/vault
Fees: uphold.com/en-us/get-started/service-fees
Security: uphold.com/en-us/get-started/security
Legal: uphold.com/en-us/legal
Status: 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

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Page updated: 2026-10-28