What’s new and why
Applies to Mobile App & New Web Wallet
Last year, we surveyed our lapsed customers who told us that while they loved Uphold’s Anything-to-Anything transaction capability, the platform was hard to use and felt expensive.
We’ve acted on the feedback and are now introducing major changes that make Uphold one of the easiest and most cost-effective places to trade cryptocurrencies and other assets.
Today, you’ll find that we’re significantly less expensive on average than other household-name crypto platforms. On smaller trades, we can be over 1000 bps cheaper. You’ll feel the difference instantly.
We’ve moved to commission-free pricing. There are no complicated fee layers to contend with. The price you see before you trade is the price you pay when you trade: unlike many competitors, we lock in and guarantee the price upfront.
This protects you from the disreputable practice rife on many other platforms where a hidden spread is added to the price you were quoted before the trade, which means you end up paying more.
Commission-free doesn’t mean that Uphold is free of charge. Any ‘We’re free’ message from a commercial platform may be misleading, and we believe there’s abuse taking place in the market, which is why we’re taking pains to clarify our pricing.
Commission free on Uphold means that you get an all-inclusive, guaranteed price that includes a small spread of typically 50-100bps (0.5-1.0%) on cryptocurrencies, but sometimes as low as 40bps (0.4%) depending on your individual trading behavior and volumes.
Our competitive pricing is driven by a sophisticated new trading engine hooked up to 3x the number of exchanges it was before, enabling us source assets at better prices.
We’re focused on reducing your total costs of trading, too. Not just the window dressing.
That’s why we’ve introduced free debit & credit card deposits, and eliminated all withdrawal fees. (Except standard network fees on crypto networks.) To make Uphold easier to use, we’ve introduced the world’s easiest trading screen.
You can fund your account from credit/debit cards, bank accounts or crypto networks, or send funds to other people, and trade 60+ assets, all from one screen.
Using a simple From and To metaphor, our transaction screen enables you to move funds from one form of value to another seamlessly, in one step.
Uphold has a natural pricing advantage compared with many of its competitors. Uniquely, we support Anything-to-Anything transactions: for example, you can go from DASH to XRP in one step, whereas on other platforms the trade would involve two separate transactions. Twice the fees. Twice the work.
For a list of one-step trades unique to Uphold, see our pricing page.