Review on Uphold by Praise Olagbadun
Uphold Wallet
Uphold Wallet was launched in the month of November 2014 and has developed a unique exchange for trading both digital and physical assets, it's known to trade multiple cryptocurrencies
Uphold has a strong security track record but has suffered a minor security incidence in the month of November 2018 which cost the company about $2,200 and also led to the temporal suspension of Bitcoin withdrawals due to the fact that the incidence was carried out using the Bitcoin cryptocurrency
Uphold supports both fiat and cryptocurrency, it is known to support about 23 fiat Currencies and 9 cryptocurrencies. The platform is available in all the nations of the world except Central African Republic, Cuba, Iran, Libya, North Korea, Somalia, Sudan and Syria. It is registered in the United States making it the perfect choice for people that loves to exchange with regulated websites and
The fees charged is high when compared to other wallets and the platform does not charge fees for transferring funds to Uphold members and withdrawal fees are different as they charge both fiat and cryptocurrency. The platform charges $2.99 for cryptocurrency withdrawals and $3.99 for wire transfers. The platform works with a ticket system leaving their customer service support not too good as I find it not too helpful.
Although the fees on this platform is high I still recommend it due to the fact that they give users the opportunity to use their wallet service for free and the platform is
Pros
- Provides both exchange and wallet services
- The platform is highly regulated
- The platform charges low commission
- Has its own virtual wallet
- Has its application available on play stores
- Highly secured
Cons
- Charges high transaction and withdrawal fees
- Authentication is mandatory
- The platform is not accessible in all countries
