User Agreement for Residents and Businesses Registered in the United States (2024)

FAQs

Is uphold legal in the US? ›

Uphold is regulated in the U.S. by FinCen and state regulators and in the U.K. by the FCA; and is registered in Canada with FINTRAC and in Europe with the Financial Crime Investigation Service under The Ministry of the Interior of the Republic of Lithuania.

Uphold is not a broker-dealer or registered investment advisor and does not recommend or endorse the purchase or sale of any securities.

Your money is fully FDIC insured² at program banks up to $2.5 million. Funds can be moved instantly⁴ between the USD Interest Account³ and Uphold's crypto trading platform⁵.

You are able to have up to $2,500,000 ($250,000 per depositor, per insured bank for each account) Federal Deposit Insurance Corporation (FDIC) insurance for deposits in your Atomic Brokerage account when those deposits are swept to all ten Program Banks in the Atomic Cash Sweep Program.

Do you pay taxes on Uphold? Yes, you have to pay taxes on Uphold. The exchange reports to the IRS and issues 1099 Forms to both the user and sends a copy to the IRS. In case you don't report your transactions on Form 1099-B, your transactions will be flagged automatically and you'll receive a Notice CP2000.

Uphold is a relatively safe platform equipped with encryption technology, due diligence checks on third-party providers, routine security audits, and its BugBounty program.

Coinbase: Access. Uphold and Coinbase are available to U.S.-based and international users.

To ensure we remain in compliance with applicable reporting requirements in the jurisdictions in which we operate, we may collect and verify your personal information including your legal name, address, government identification, date of birth, social security or taxpayer identification number, bank information, or ...

Where Is Uphold Located? Uphold is a digital financial platform that allows individuals to trade and transfer various assets, including currencies, precious metals, and cryptocurrencies. The company is based in New York.

Security. Uphold offers industry-standard security measures, including KYC verification and two-factor authentication. The majority of user funds are held offline in cold storage, which is generally more secure than storing funds online in hot wallets.

What percent does Uphold take? ›

Uphold earns a commission between 3% - 34% depending on the asset being staked. In order to ensure full transparency to our users, the estimated Annual Percentage Reward Rate (APRR) takes our commission into account. For more information, please refer to our Uphold Staking Terms & Conditions.

Other important factors to consider when researching alternatives to UPHOLD include customer service and security. The best overall UPHOLD alternative is Binance. Other similar apps like UPHOLD are Coinbase Exchange, Kucoin, Bittrex, and Kraken.

Uphold is licensed by the Tennessee Department of Financial Institutions as a money transmitter.

Our pricing model is all-inclusive: The price you see before you trade is the price you pay when you trade. Unlike some competitors, we don't add hidden fees between 'Preview Trade' and 'Confirm Trade'.

Using the Uphold XRP wallet will provide you with a safe, convenient, alternative way to store your funds. Uphold takes security extremely seriously, incorporating the robust industry standards to protect your funds at all times.

Withdrawing USD to a U.S. bank account

At Uphold, we provide ACH withdrawal services for USD, giving our customers the flexibility to select between instant and standard processing times for their transactions.

NY State users can't use Uphold.