Encrypted currencies and Exchanges are two inseparable components and one of the concerns of traders in the world of cryptocurrencies is to find an exchange that is safe, transparent, low-commission, excellent user interface, and so on. Among these exchanges, we will examine two, Uphold and Coinbase. We will compare the performance of these two Exchanges in different sections.
Coinbase
The Exchange is currently the second-largest cryptocurrency Exchange, and its special features, along with its excellent user interface and security, have made it a large marketplace. The exchange was established in 2012 and supports all states except Hawaii. Coinbase has become one of the leading exchanges in the United States and has users in more than 100 countries.
Uphold
Uphold was launched in the United States in 2015. This platform is very similar to a cryptocurrency wallet and can buy and sell cryptocurrencies. in addition, it supports fiat currencies and commodities such as silver and gold. It is also one of the safest choices with a great track record in security.
Beginner Friendship
Both platforms have a good relationship with beginners and have a good user interface. But Coinbase has less complexity than Uphold. Uphold is a bit confusing at first glance. At Coinbase you can buy up to $ 9000 worth of cryptocurrency without identity verification While in Uphold Exchange you can buy up to $ 1000 without identity verification. In this case, Coinbase Exchange provides a better user interface and fewer restrictions for beginners who have difficulty with the identity verification process.
Security
Uphold ensures user security with strong encryption. Also, using two-factor authentication can increase your security. Coinbase also uses a strong and stable security platform, and two-factor authentication is also seen in this Exchange. It also provides 99% of users’ funds in cold storage and FDIC insurance for US citizens. This type of insurance does not exist in Uphold and only 90% of user funds are in cold storage.
Currencies Support
Both exchanges support popular cryptocurrencies. While Coinbase supports 66 cryptocurrencies and stable coins, Uphold supports Bitcoin, Ethereum, NANO (50+) and foreign currencies, precious metals, and even shares of stock.
Mobile App
Both of these Exchanges have mobile applications for Android and iOS and have the same function in this regard. You can install these applications on your mobile phone and connect to the platform. Coinbase also offers two other programs called Coinbase Wallet and the Coinbase Pro.
Fees
- At Coinbase, fees range from $ 0.99 to $ 2.99.
- But in, Uphold, 0.65-3.95% withdrawal fees + network fees.
BUY / DEPOSIT METHODS
- In Coinbase: Debit Card, Bank Transfer, Crypto
- In Uphold: Debit / Credit Card, Bank Transfer, Crypto
SELL / WITHDRAW METHODS
- In Coinbase: Bank transfer, PayPal, crypto
- In Uphold: Debit / Credit Card, Bank Transfer, Crypto
Uphold Features
- Trade non-crypto assets: Trade deal about 50 U.S. stocks, 4 precious metals, and 27 national currencies
- Brave Rewards: Get rewarded using the Brave browser
- Trade between any supported assets
- Multi-asset debit card
- Third-party integrations
- Automated transactions With the Autopilot
Coinbase Features
- Easy to buy cryptography and multiple shopping methods
- Access to a bank account
- Coinbase Earn: Get rewarded by watching videos and tutorials
- Crypto debit card
- Coinbase Pro: Suitable for intermediate and advanced users
Advantages and Disadvantages of Coinbase
Advantages
- Easy user interface and registration
- Lower pricing available with Coinbase Pro
- Easy buying and selling of currencies
- Supports over 100 countries
Disadvantages
- Higher than average fees (up to $ 2.99 per trade)
Advantages and Disadvantages of Uphold
Advantages
- Support cryptocurrency, precious metals, and fiat currencies
- No security problem to date
- Access in over 180 countries
- Brave browser rewards
- No fee to buy stock using a bank account
Disadvantages
- High spread & spread-based pricing may hide costs
- U.S. and European users can’t trade equities
In the end, we can see that these two exchanges have their own advantages and have a long history in the cryptocurrency market. If you are interested in markets other than cryptocurrencies, Uphold is the best choice for you. But if you are interested in security, easier user interface, and more training resources, Coinbase is the best choice for you.
