Uphold is a multi-asset exchange based in San Francisco, California that was launched in 2014. It underwent a brand overhaul midway and changed its name from Bitreserve to Uphold.
There are five kinds of assets to trade on the Uphold platform: fiat currencies, cryptocurrencies, US-based stocks (mostly tech stocks), precious metals (including gold and silver), and environmentally-friendly tokenized assets.
The exchange allows users to trade amongst all these assets effortlessly.
Cryptocurrencies can be bought off the exchange, exchanged from other assets, or deposited from an external wallet.
In this guide, you will learn how to deposit Bitcoin (BTC) from an external wallet. We are using Exodus as an example but the process should work for most other crypto wallets including crypto exchanges.
Can you transfer your crypto to uphold?
You can transfer cryptocurrency from an external wallet to Uphold. The process is simple and straightforward—at least it is from the Uphold side.
Whether the process is equally simple between Uphold and your other wallet will depend on your specific wallet.
Here’s a rundown of the typical process it takes to send crypto over from an external wallet to Uphold exchange:
Step 1 – Log in to your Uphold account
Step 2 – Navigate to the cryptocurrency you want to receive and select it
Step 3 – Access the wallet address for the specific crypto asset. You will use this address to send the crypto from the other wallet over to Uphold. To avoid mistakes, copy the address rather than writing it down or typing it character by character. You can also opt to scan the QR code provided for each wallet address.
Step 4 – Log in to the other wallet and select the asset to transfer.
Step 5 – Provide the Uphold wallet address.
Step 6 – Specify the amount of crypto to transfer and the network fee. (Some wallets don’t allow their users to specify the transaction fee)
Step 7 – Confirm the details and send.
Congratulations! You’re done.
In a later section, we’ll provide an example of how to receive Bitcoin (BTC) from the Exodus wallet.
Uphold also makes it easy to withdraw your crypto from your account to an external wallet. We won’t discuss the withdrawal process but if you need to move your funds off Uphold, the process is almost as simple as depositing them.
Learn more: Transfer From eToro To Exodus.
What are the pros and cons of Uphold?
Every platform has its benefits and drawbacks and Uphold is no exception. Here are some of its pros and cons.
- It’s a multi-asset class platform currently supporting different asset classes including cryptocurrencies, precious metals, U.S. Stocks, and more than 25 national currencies.
- Uphold has a simple interface ideal for beginners and experts alike.
- Offers an ‘anything-to-anything’ trading experience which involves one-step conversion between different asset classes.
- Complies with relevant financial regulations. In the US, it’s regulated by the FinCEN while in the UK, it’s the FCA.
- Offers competitive pricing with transparent fees.
- Some of the services are offered at no cost such as purchasing shares through bank account transfers.
- The fees tend to be high for low-volume assets transactions.
- Customer support is a bit wanting with most users requesting the addition of live support and online chats.
Learn more: Transfer Crypto from Uphold to Exodus
Why transfer to Uphold?
There are several reasons to want to send your crypto from another platform or external wallet over to Uphold. Some of these include:
To fund your Uphold account. If you have no funds in your account, sending cryptocurrency may be the cheapest way to load it. You can then convert the crypto to any other asset you are interested in;
Crypto transfers could be extremely fast. Compared to some other funds transfer methods such as bank transfers, sending crypto could be fast and convenient;
To gain access to multiple asset classes. On Uphold, investors can buy, sell or trade amongst four different asset classes including precious metals, crypto, national currencies, and stocks. Few other platforms offer such a portfolio.
How to transfer from Exodus to Uphold?
In this section, we will highlight a typical Bitcoin (BTC) transfer from popular crypto wallet Exodus to Uphold. Follow these steps:
Step 1 – Access your Uphold account.
Log in to Uphold using your username and password.
If this is your first time using Uphold, sign up for an account here.
Step 2 – Access the Bitcoin (BTC) card.
Once you log in to your Uphold account, locate the Bitcoin card and click on it.
Typically Bitcoin is available on the watchlist by default. You may have to search or scroll to find other assets if they are not found on the default home screen.
Step 3 – Navigate to the BTC address box.
In this step, we are trying to access the Uphold Bitcoin address so that we can use it on the Exodus withdrawal page.
Click on the three-dotted lines on the top right of the BTC card then select [Crypto wallet address]. This will reveal your account’s BTC address.
Step 4 – Copy Bitcoin address.
There are two ways to copy your Bitcoin address: either scan the QR code using the Exodus mobile app or click the copy icon to copy the address to the clipboard ready for pasting.
Step 5 – Access your Exodus wallet.
Now that you have the receiving account address, launch the Exodus wallet and log in to start the transfer process.
Navigate to the Bitcoin wallet by clicking on the [Wallet] icon on the main menu as shown above. In the next screen, locate the Bitcoin wallet on the left selection list, click on it to reveal the BTC options.
Click on the [Send] button.
Step 6 – Fill in Uphold BTC account details.
This is the step where we use the BTC wallet address that we copied earlier from the Uphold account.
In the ‘Send to Bitcoin address’ box, paste in the copied wallet address. Alternatively, you can tap the scan tool symbol to scan the QR code of the receiving address. This option is possible if you are using the mobile Exodus wallet application.
Fill in the amount of BTC to send in dollars or satoshis (whichever you are most comfortable with).
Below that you can slide the fee indicator to the left or right to change the transaction fee rate you are willing to pay then click the [Send] button.
Confirm the transaction details to complete the transfer. Your coins will be deposited into the Uphold as soon as the transaction is confirmed on the network.
Learn more: How To Transfer Crypto From Exodus To Trezor
Transferring crypto from Exodus to Uphold is as simple as that. The process is straightforward and only has to take a few minutes.
Once you have done it, you can then trade against several other assets including gold, silver, stocks, or even exchange into national currencies. The choice is yours.