Uphold vs. Coinbase: Which Should You Choose? – Investopedia


Fees  Uphold Coinbase 
Bank Account  Free 1.49%
Withdraw Crypto to a Wallet  $2.99  Free 
Debit/Credit Cards  3.99%  3.99% 
ACH Transfer  Free  Free 
Wire Transfer  $30 to deposit under $5,000 or free for over $5,000.  $10 deposit, $25 withdrawal 
Crypto Conversion  Free  Up to 2% spread 
Trades  Variable spread that may be as high as 4% in some cases  Up to 0.50% spread, plus a variable or fixed fee of $0.99 to $2.99 based on the amount or a variable fee based on payment method 


Uphold vs. Coinbase: Ease of Use

Coinbase continues to stand out from the competition for its ease of use. The signup process is straightforward, and it’s easy to find details about the platform, cryptocurrencies, and even learn how to get started trading. 

Likewise, Uphold’s process is user-friendly, and the website is easy to navigate. The advanced transaction types require some investing experience and the addition of stocks and metals adds to the complexity. However, Uphold offers a “one-step trading capability,” where users can trade any crypto asset for another. 

Both exchanges offer customer service through email or Twitter. Although the Coinbase knowledge base and help articles are expansive, Uphold provides plenty of information about the platform and some helpful articles for beginner traders. 


Uphold vs. Coinbase: Mobile App

Coinbase and Uphold both offer a mobile app for Android and iOS phones. The apps offer nearly full functionality compared to the websites. That said, you won’t find advanced charting options on either of them. However, the Coinbase app appears to be a bit more mature with fewer bugs and navigation issues, earning it higher user ratings. Coinbase provides two other applications, including a standalone hot wallet called the Coinbase Wallet and the Coinbase Pro app with advanced features and transactions. 


Uphold vs. Coinbase: Access

Uphold and Coinbase are available to U.S.-based and international users. However, residents of Hawaii are excluded from both platforms. In addition, equities on Uphold aren’t available to U.S. or European investors. But, if you’re in the United States and want to buy Ripple (XRP), Uphold supports it while Coinbase doesn’t. U.S.-based investors also can’t buy Amp (AMP), Gitcoin (GTC), Golem (GNT), Loom Network (LOOM), Enzyme Finance (MLN), or Shiba Inu (SHIB) on Coinbase. 


Final Verdict

Uphold and Coinbase are secure exchanges offering a good selection of cryptocurrencies and features useful to traders, such as Uphold’s AutoPilot and the Coinbase Earn program. But, people wanting a multi-asset trading platform should head to Uphold to buy precious metals, national currencies, and environmental tokens. Meanwhile, those wanting potentially lower fees and more chances to earn free crypto will appreciate the Coinbase or Coinbase Pro platforms. 


Frequently Asked Questions

What Are Uphold and Coinbase?

Uphold is a multi-asset exchange, meaning users can buy and sell cryptocurrencies, national currencies, equities, and precious metals. In contrast, Coinbase is a cryptocurrency exchange that supports various cryptocurrencies and stablecoins. Investors can buy, sell, deposit, or withdraw using Uphold or Coinbase. Also, both platforms offer a debit card. The Uphold card is a multi-asset Mastercard, whereas the Coinbase card is a crypto Visa. 

How Do Uphold and Coinbase Work?

Uphold and Coinbase users may access the cryptocurrency exchange from a web browser or through the associated mobile apps. Once the verification process is completed, which may take extra time, investors can add funds to buy assets depending on their location. Both support ACH, bank transfers, credit and debit cards. Coinbase also allows users to purchase or withdraw using PayPal. Coinbase also gives crypto rewards when users watch videos or read guides about blockchain and cryptocurrencies. On the other hand, Uphold offers AutoPilot for recurring trades. 

Do Uphold and Coinbase Report to the IRS?

Yes, Uphold and Coinbase file an annual report with the Internal Revenue Service (IRS) in accordance with tax laws and regulations. In addition, Coinbase issues IRS Form 1099-MISC to Coinbase users who are U.S. persons and earned $600 or more in rewards or fees from Coinbase Earn, USDC Rewards, and/or staking.

Who Should Use Uphold vs. Coinbase?

While Coinbase and Uphold are reasonably easy to use, Coinbase offers more resources for beginners than Uphold does. Since Coinbase only supports cryptocurrencies, new investors may feel more comfortable starting with Coinbase. However, Uphold is a multi-asset exchange, so users wanting to buy and sell precious metals, U.S. equities, or cryptocurrencies should begin there. Moreover, Uphold offers unique environmental currencies called carbon credit tokens, which aren’t provided on Coinbase. 


Methodology

We reviewed Uphold and Coinbase by considering the features that made each platform stand out, such as the ability to earn crypto on Coinbase or trade precious metals on Uphold. We also looked at the overall cost of investing, including the spread and various fees. Then we compared both platforms on supported currencies, ease of use, and accessibility for living in the U.S. and internationally. Lastly, we considered the usability of the mobile apps and thought about several use cases to determine what type of investors would feel most comfortable on each platform.



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