Cryptocurrency

Uphold App Review: Binance vs Uphold vs Gemini Pros and Cons

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There has been a dramatic shift in the concept of asset trading over the past two decades. Those looking to trade or invest no longer require the high-priced services of brokerage houses, although brokers remain one of the safest means of investing if you lack experience, thanks to the emergence of cryptocurrencies, trading apps like Robinhood and Webull, and instant access via smartphones and web browsers. Even as stock trading apps like Robinhood begin to offer crypto trading, it can be exhausting for those who choose to go it alone in trading a wide range of assets. Traders, on the other hand, can now use applications to trade virtually anything. You can trade everything from stocks and gold to cryptocurrencies using apps such as Uphold, Gemini, and Binance. However, how do you know which one is best for you? See below for a brief description of each service.

Uphold

“A multi-asset digital money platform” is what this business calls itself. It is their mission to make currency exchange more convenient and less expensive than going to a bank. Exchanges on this service are commission-free, but some transactions are subject to minor fees. They provide a greater variety of assets for trading than their rivals, according to many Uphold reviews. Some of their features include:


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  • Trading accounts that support manual and automated trading.
  • A debit card that can draw funds from assets in accounts.
  • Access to funds trading worldwide in fiat currencies.
  • Access to nearly every available cryptocurrency currently in circulation.
  • Support for trading equities (limit orders allowed but no margin) and precious metals.
  • Available trading for environmental assets like Zero Carbon.
  • Customer support available during business hours.
  • Offers training through available documentation.
  • Allows crypto loans.

Gemini

Customers in the United States appreciate the fact that Gemini is a locally owned and operated business. For Americans who prefer to work with a company that is based in the United States, Gemini is a viable option because many cryptocurrency exchange services are located outside of the country due to regulations. There is a “sandbox” feature that allows users to test out trading strategies before committing real money, something not seen in the Uphold vs Gemini arena. It was the first company to start trading the Ether cryptocurrency in 2016. Listed below are some of their features:

  • Digital wallets with $0.99-1.4% transaction fees.
  • Allows limit orders but no margin trading.
  • Allows crypto trading, but not crypto loans.
  • Allows trading of 62 forms of cryptocurrency, including most of the major coins.
  • Offers training through documentation and webinars.
  • Online support only.

Binance

Binance is another crypto exchange service offering access to over 150 cryptocurrencies. It is one of the largest cryptocurrency exchanges in the world, even more than Uphold vs Binance trading enviornments. Founded in 2017, it is registered in the Cayman Islands, but has recently run afoul of US investigations into possible instances of money laundering. Despite this, Binance has one of the highest volumes of crypto trading in the world, and offers a variety of features.

  • Users can add a personal credit or debit card to begin buying and selling crypto instantly.
  • Support for peer-to-peer transactions.
  • App allows for price alerts when assets rise or fall within certain parameters.
  • Offers some of the lowest transaction fees in the market.

Summary

A look at the features offered by Uphold shows that it has many advantages over its rivals, and it can be a valuable service to have. If you’re only interested in crypto trading, the other two services, as well as a slew of competitors, are viable options. Uphold vs Binance shows that Uphold provides more versatility, and Uphold vs Gemini shows that Uphold provides more crypto offerings. The virtual Swiss Army knife of the trading world, Uphold, offers access to far more than just the most popular cryptos, but also stocks and precious metals, making it the far more versatile option, according to many Uphold reviews.

FAQ

Which of these services offer mobile apps?

All three offer mobile applications.

How do these exchanges verify identity?

Users opening new accounts with any of these services must upload images of a state issued photo ID, a live selfie, and current proof of address. In some cases, a social security number is needed.

Which services offer free trial versions?

All three offer trial versions of their services.


Editorial Disclaimer: The editorial content on this page is not provided by any of the companies mentioned and has not been endorsed by any of these entities. Opinions expressed here are author's alone

The content of this website is for informational purposes only and does not represent investment advice, or an offer or solicitation to buy or sell any security, investment, or product. Investors are encouraged to do their own due diligence, and, if necessary, consult professional advising before making any investment decisions. Investing involves a high degree of risk, and financial losses may occur.


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