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The company has taken similar initiatives in regard to reducing transaction fees. Today, the company claims that it is less expensive on average than other household-name cryptocurrency platforms Indeed, the company has moved to commission-free pricing. The price that users see before they trade is the price they pay when they trade.
For cryptocurrencies, Uphold offers an all-inclusive, guaranteed price that includes a small spread of typically 50-100bps (0.5-1.0%). Depending on your individual trading behavior and volumes, the spread can be as low as 40bps (0.4%). The company also offers free debit and credit card deposits, and zero withdrawal fees (with the exception of standard network fees on cryptocurrency networks).
When users sign up for Uphold, and then upload login they are asked to provide their legal name, date of birth, and phone number. In order to withdraw or send funds to other people, users must become verified users. To become a verified user, users need to provide their current residential address, a valid government photo identification, and a 'live selfie.
Is your cryptocurrency safe with Uphold?