Number of crypto businesses that offer crypto debit cards is increasing by day. Uphold joins the ranks with their own crypto card that comes with some unique perks and features users will like.

But, first a quick intro on the company itself.

There are a lot of traders in the crypto community who want to purchase different asset classes, and until recently, this was only doable through cash transactions. To go from one asset to another one, you needed a brokerage account with cash that you would use to purchase gold, silver, or company stocks. In case you wanted to trade cryptocurrencies, you needed to open a crypto exchange account.

National currencies are a whole different deal since you need to open an account with a third-party provider. As you can imagine, this kind of system is very confusing, especially for beginners, but this is where Uphold steps in.

Uphold has created a simple solution to the problem called trading multiple assets. The team behind Uphold has created a way to trade multiple assets without having to make different trips back to cash. With uphold, trading can be done directly across different asset classes.

In this article, we are going to review what Uphold is, how it works, how much does it costs, and just how effective it is.

Uphold was originally named Bitreserve, it works as a trading platform that enables cross-asset trading. Uphold was originally founded in 2014 in San Francisco by Halsey Minor (he no longer works in the company, the current CEO is J.P Thieriot).

Currently, it is one of the most unique desktops and mobile trading platforms due to the “Anything-to-Anything” trading feature. With Uphold, users can convert between various fiat currencies, cryptos, commodities, and stocks. So far, if users wanted to purchase metals, stocks, or cryptocurrencies, there were multiple transfers that needed to be done.

Uphold has created a way to trade these assets by using a bank account, crypto network, or debit card, and all of that with 0% commissions. Trading between assets in different classes is also featured, for example, you can trade Bitcoin to Tesla in only one trade. Or if you wanted to trade Tesla and Facebook stock, there aren’t intermediate conversions into USD. No trading platform offers this as they all use US dollars as a bridge to the exchange.

The design of Uphold makes it simple for users to navigate, and it’s amazingly cost-effective. Sending money or assets to friends or family can be done in a matter of seconds, with no additional fees.

When it comes to Uphold Card, there are several types of fees that users should pay attention to.

The issuance fee is fixed at $9.95.

Compared to similar crypto, forex, and stock investing platforms, Uphold users can enjoy a wide range of benefits that are provided elsewhere.

The cost-effectiveness is one that stands out the most, considering there are 0% deposit fees, 0% trading commissions, and 0% withdrawal fees.

The All-Inclusive pricing is the next one, if you are trading the major cryptocurrencies, the spread is approximately around 80-120 bps. Other platforms such as Revolut or Coinbase Retail offer 160-250 bps.

The easy-to-use design is another benefit since users can open an account in basically a few minutes, and there is no minimum investment amount.

The last notable benefit is that equities can be sent anywhere in the world with no additional fees.

Cashback rewards and features are a very interesting offer that Uphold Card provides. The cashback feature is simple to understand. Each time a user uses their card, a certain percentage of what they pay gets transferred back to their account. For example, if you use your card and pay something in USD, you will get 1% of that amount back. It’s basically a 1% discount on anything you buy. If you choose to buy cryptocurrencies with the card, the cashback is 2%.

Other cards typically require users to hold an X amount of tokens of a specific type (the Paycent card requires Paycent tokens while the Binance Card requires BNB tokens) in order to take advantage of a cashback feature. With Uphold, as long as you have your card and you are using it, you will get the cashback. It’s an interesting deal that no other platforms offer.

Uphold card supports different cryptocurrencies depending on where you are located.

In the USA, the supported cryptocurrencies are: BTC, BTC0, AAVE, XRP, ETH, BAT, ADA, ATOM, AXS, BCH, BAL, BTG, CSPR, COMP, CRV, DASH, DCR, DGB, DOGE, DOT, ENJ, EOS, FIL, FLOW, GRT, HBAR, HNT, MIOTA, LINK, LTC, LUNA, MATIC, MKR, NANO, NEO, OMG, OXT, REN, RUNE, SAND, SNX, SOL, SRM, SUSHI, THETA, TRX, VET, WBTC, UMA, UNI, UPBTC, UPCO2, UPT, XCH, NEM, XLM, XTZ, ZIL, and ZRX.

In Europe and the UK, the supported cryptocurrencies are: AAVE, ADA, BAL, BCH, BTC, COMP, DGB, DOGE, DOT, ENJ, EOS, ETH, GRT, HBAR, LINK, LTC, MATIC, MKR, NEM, REN, SNX, UMA, UNI, VCOIN, wBTC, XLM, XRP, XTZ, and ZRX.

Uphold supports a lot more fiat currencies compared to other cryptocurrency debit cards. Here are the fiat currencies that are supported: AED, ARS, AUD, BRL, CAD, CHF, CNY, DKK, EUR, HKD, ILS, INR, JPY, KES, MXN, NOK, NZD, PHP, SEK, SGD, and USD.

Although, as of September, the following fiat currencies are available for users located in Europe and the UK: USD, GBP, and EUR.

Uphold Card supports more than 200 countries. However, bank account funding and withdrawals can only be made in these countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lichtenstein, Lithuania Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovenia, Slovakia, Spain, Sweden, Switzerland, United Kingdom, and the United States.

On Uphold, there are six card tiers available for users.

The card types that are supported on Uphold are: Mastercard and Visa.

Ordering the Uphold debit card is a fairly easy process and it can be done rather quickly. Here are the steps you can follow to get your Uphold card.

Uphold‘s mobile app has gotten some pretty great feedback so far. It’s simple to use, and it is very intuitive since it can mirror the desktop’s app focuses on easy usage and “Anything-to-Anything” transfers. Here are the features that you can find on the mobile app:

The Uphold mobile app can be downloaded on both iOS and Android devices.  

Once you have ordered your Uphold card and it is delivered, you can activate it through the Uphold Card mobile app. When you open the package, you should see the physical card containing a letter in which the activation code is included. Open your mobile app and press “Activate physical card.” In case you want to activate the card by phone, dial 1-855-568-8580 and press 1. Make sure you have your activation code with you before calling this number.

On your Uphold exchange account, you can see the existing balance. This balance is linked directly to your Uphold Card. Using the Uphold card, you can make purchases directly and quickly by using the available assets on your account. You can choose to deposit funds from an external credit/debit card, crypto wallet, or bank account.

However, although Uphold supports various assets, you can only deposit and withdraw certain assets.

Fiat currencies can be transferred by the bank: USD, EUR, GPB, CAD, and PLN.

External wallet transfers can be done for these crypto-assets: BTC, LTC, ETH, BCH, BAT, LINK, ZRX, DASH, BTG, XRP, UPT, OMG, STORM, UPBTC, TUSD, DAI, USDC, USDT, UPUSD, and UPEUR.

Any other fiat, crypto, or precious metal assets that are typically supported by the Uphold card can only be spent through the Uphold Card or traded on their official exchange.

Using the Uphold card isn’t much different from using any other type of debit card, there are only a few minor differences you should pay attention to.

Here is how you should use your Uphold card for transactions:

Uphold is a well-respected and trustworthy company. It has been operating in the crypto community ever since it was founded in 2014. The positive feedback from the users only supports this fact.

Coinbase card is one of the suitable alternatives for Uphold. With Coinbase, users can buy, sell, and manage their cryptos safely. Coinbase is one of the world’s most trusted and most popular crypto exchanges, with over 68 million users across the globe. All major cryptos such as Bitcoin, Ethereum, Litecoin, and many more are available on the platform. All you need to purchase cryptos is a debit card or bank account.

You can see a detailed review of the Coinbase Card by clicking here.

Visit Coinbase Now

This card is a prepaid Visa card. Prepaid cards are basically the same as debit cards, the only difference being that debit cards are directly linked to your bank account. Prepaid cards need to be topped up first. In the case of Crypto.com, you can top up by using bank account transfers or cryptos.

You can see a detailed review of the Crypto.com Card by clicking here.

Visit Crypto.com Now

This is a growing mobile app that offers transforming coins and tokens into money. You can use it to shop around the globe with coins and tokens at any NFC terminal or by scanning QR codes.

You can see a detailed review of the Crypterium by clicking here.

Visit Crypterium Now

The Binance card is one of the most popular alternatives. You can use it at more than 60 million merchants around the globe. Transfer crypto from the spot wallet to the funding wallet before using the card. The best thing is, the Binance Visa Card is free.

You can see a detailed review of the Binance Card by clicking here.

Visit Binance Now

Yes, the card is available to residents in the US.

There are fees for using the Uphold Card, for more information, check out our Uphold Card Fees and Limits heading.

Uphold uses your SSN to issue a 1099 tax form to US citizens.

Yes, Uphold Card can be used at ATMs.

If you are a US citizen, Uphold is obliged to report to the IRS. If you are a citizen of another country, check their official website for taxing information.

Click here to find out everything you need to know about paying crypto taxes and get your taxes done in seconds, completely free.

Uphold users can deposit and withdraw XRP to external XRP Ledger addresses.

Yes, verifying your identity is required in order to get an Uphold card.

Adding funds is done via linking your bank account to your Uphold account and then choosing the amount of money you wish to transfer to your card.

If you use an Uphold Card in a supported country, you won’t be charged with additional fees when using it.

Yes, you can spend crypto assets using your Uphold card.

Yes, there are physical reserves that match the total value of precious metals.

There are different kinds of fees you can run into, it’s best to check our heading Uphold Card Fees and Limits to find more detailed answers.

No, the Uphold card doesn’t support these kinds of payments yet.

Yes. Check our heading Uphold Card Fees and Limits to find a more detailed answer.

Yes, Uphold has both a desktop app and a mobile app.

There is a good reason why there are so many different crypto platforms – you can’t satisfy everyone. Although there are people that may find fault with Uphold, there are as many satisfied users that love the benefits Uphold provides. If you want to trade different asset classes using only one platform, Uphold has got you covered, give it a shot.

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The post Uphold Card Review – Fees, Limits, Rewards, Supported Coins & Countries appeared first on CaptainAltcoin.

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