Summary: For a quick summary, Uphold is the best multi-asset exchange in the world for those interested in trading and staking cryptocurrencies. The platform is a regulated and licensed exchange in multiple jurisdictions, providing users with confidence in the exchanges security and reliability. It is superior to eToro as it offers lower fees, more features, better security and customer support.
Uphold vs eToro: Features
At first glance, Uphold and eToro may seem like similar platforms that offer the same products and services. However, when you look closer at the features that each company offers, there are some key differences.
Uphold offers trading on over 210 cryptocurrencies, 50+ stocks, 35+ fiat currencies, precious metals and environmental assets. In addition to trading, you can stake over 20 tokens for high yields or spend any of Upholds 210supported tokens on real life purchases and bills with their Crypto Mastercard.
eToro also offers trading on multiple asset classes including 90+ cryptos, 3000+ stocks, 30+ fiat currencies, 15+ commodities, 30+ ETFs and indices. They also offer Copy Trading, which is a feature that allows you to mimic the trades of successful eToro users. Besides that, they only offer crypto staking on Ethereum and Cardano.
Winner: Uphold offers more useful crypto-related features and overall more tokens in general.
Uphold is one of the lowest cost exchanges in the world as it is one of the few that offer free deposits and withdrawals. The only deposits that are charged are ones made by card. Additionally, there are no trading fees on Uphold only spreads, which vary between 0.8% - 1.2% for crypto. Other assets spreads start from 0.2% and go up to 1.9%.
eToro unfortunately, is one of the more expensive platforms that charge $5 per withdrawal, however, deposits are free. Trading fees on the other hand are a high 1% which is on top of the spread which can vary between 1% - 2%. Additionally, there is a monthly inactivity fee of $10 charged if you don't use for account for 12 consecutive months.
Winner: Uphold has significantly costs fees than eToro and offers zero trading, deposit or withdrawal fees.
Security and Regulation
Uphold is one of the only cryptocurrency exchanges globally with audited proof-of-reserves that shows customer funds are always backed 1:1. It is also regulated by multiple government bodies in over 150 jurisdictions including the FCA, FinCEN, Bank of Lithuania and more. Uphold is widely regarded to be the most secure trading platform in the world and has never been subject to a cyber attack.
eToro is also a highly secure platform that has been operating since 2007 and has never once been hacked, proving it is battle-tested and safe. It is also regulated by multiple government authorities including the FINRA, CySEC, FCA, ASIC and more. However, it does not provide proof of reserves to its customers.
Winner: Uphold is transparent in its assets, giving peace of mind to its users after the FTX incident. It is overall a more secure and reliable platform.
Uphold provides 24/7 support via live chat, email and phone in two languages, English and Spanish. Additionally, the team can be reached via one of their many online communities including Facebook, Twitter, LinkedIn and Instagram.
eToro's customer support team is also available via email and live chat 24/7, however, they offer over 21 languages. Their team can also be contacted in one of their social media communities which are; Facebook, Twitter, Instagram, YouTube & LinkedIn.
Winner: eToro offers 24/7 live support in 19 different languages, offering more diverse customer service.
Uphold has a mobile app version of its web platform available to download on both iOS and Android devices. It is a highly rated app, and on the Apple App Store it is rated 4.5 stars from 25K reviews. On the Google Play Store it is rated 4.6 stars from 33K reviews.
eToro also provides a mobile version of its app on both iOS and Android devices. It is rated 4.3 stars from 1.9K reviews and ranked #71 overall in the Finance category on the Apple App Store. On the Google Play Store it has a rating of 4.1 stars from 125K reviews.
Winner: Uphold's mobile app has higher ratings and more reviews than the eToro app.
Uphold is regulated and licensed to operate in over 150 countries globally including the USA, UK, Europe, Australia, Asia, Africa and South America.
eToro is available to use in over 140 countries globally with most of Europe, UK, USA, Australia and Asia. Please note that eToro USA LCC does not offer CFDs, only real Crypto assets available.
Winner: Uphold is available in more countries overall than eToro is.
If you’re looking for a platform that offers secure and easy-to-use tools for managing and storing your assets, then Uphold is probably the better choice. They are the most secure trading platform globally with 1:1 proof-of-reserves. Additionally, they offer a variety of useful features that allow you to earn money on your crypto. To learn more about this exchange, visit our detailed Uphold Review.
Disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.