Avoid Uphold.com - They will restrict your account and sell your crypto UK USA

[JessieJames13]

QUICK SUMMARY : UPHOLD WILL FREEZE YOUR ASSETS, LOCK YOUR ACCOUNT, AND IGNORE YOU FOR 3-12 WEEKS.

A warning for those considering using Uphold.com for crypto services.

Despite Uphold stating they let you send crypto to an external wallet, if you try they will restrict all account access and ignore you thereafter.

For 6 weeks they ignored my tickets requesting an explanation for my account restriction.
Eventually they replied "we can no longer offer you an account", Uphold then decided to sell all my crypto holdings and send resulting fiat to my bank account

Uphold doesn't mind when you deposit your money and buy crypto through them as they earn HUGE from the hidden fees they charge via there overpriced crypto offerings, however when you try to send it to your own wallet so that you actually own it, they will cause you massive stress and frustration.

How is this legal? they can ignore you for so long and even sell your holdings?

Their trustpilot is full of people having the same experience as myself - www.trustpilot.com/review/uphold.com?stars=1

examples of how this exchange treats its customers

Mirror #1 : https://i.imgur.com/quaBAsw.png
Mirror #2 : https://i.postimg.cc/MK2psLg8/UPHOLD-AVOID.png

The scam - They dupe users into buy / sell crypto whereby they profit from their hugely inflated marketprices

They state they have no fees, its a lie as the fees are camoflaged via a much higher/lower marketprice than the true marketprice

They will restrict all account access when you try to send to an external wallet.

If you have had an issue with Uphold.com, please report them to the SEC(USA) - FCA(UK) - European Commission like I have, Direct Links Below

USA
https://help.sec.gov/s/investor-complaint

UK
https://www.financial-ombudsman.org.uk/make-complaint
https://www.fca.org.uk/consumers/how-complain

European Commission
https://finance.ec.europa.eu/consumer-finance-and-payments/retail-financial-services/financial-dispute-resolution-network-fin-net/make-complaint-about-financial-service-provider-another-eea-country_en



Avoid this broker

[Ambatman]

Sorry for your predicament
This what usually happens when you make such big decision without doing your own research
But relying in hearsay.
How's their terms and conditions?
Was such conditions stated?
Wow they sent your money to your bank account
That's a first in my Book meaning it's they make use of a custodial wallet.
This is why is adviced in using reputable platform
You can easily see and hear about their pro and Cons from their users.

[JessieJames13]

How's their terms and conditions?
Was such conditions stated?
Wow they sent your money to your bank account
That's a first in my Book meaning it's they make use of a custodial wallet.

you haven't understood

• Upholds T.O.S says; a customer is permitted to send crypto to a self-custody wallet of their choice.
• I also emailed Uphold asking : "if I buy bitcoin using Uphold, can i send to my own wallet" they replied "yes." - I have proof of both emails.
• Uphold doesnt honour their own rules
• I deposited funds, bought btc, and requested to send to my external wallet, my account was then restricted for 1.5months, and my requests for info were ignored.
• uphold sold all my crypto holdings, and send the fiat to my bank account - I didnt want or ask this
• The action of selling a users crypto at any point in time they decide wasn't in their terms, They are fraudsters acting illegally.

[dkbit98]

A warning for those considering using Uphold.com for crypto services.

Thanks for reporting this issue, I never used their service and I didn't know they are doing stupid things like this.

For 6 weeks they ignored my tickets requesting an explanation for my account restriction.
Eventually they replied "we can no longer offer you an account", Uphold then decided to sell all my crypto holdings and send resulting fiat to my bank account

At least you received something and they didn't simply stole coins from your account.
Problem with most modern online services is lack of real actual support, they mostly have stupid bots and not enough human work force.
I would also be very careful using other services like paypal, even if they claim to work fine with bitcoin and other crypto.
Keeping coins on any centralized service is a risk.

[JeromeTash]

In know that you are in the US or UK, but how do you choose to Uphold among other much fair crypto exchanges that are available?

We have so many tradition crypto exchanges, some of which are permitted to operate in the UK and US. How do you end up selecting an unfair broker over them ?  
I one time opened an account with Uphold, but that was the last time I even checked on the platform. What they had to offer was way so poor. I decided within 15 minutes after reading their terms of service and exploring the platform.

[robelneo]

Its only a matter of time before this exchange goes down the drain. All their users have issues from their login to 2FA to their deposit and withdrawals; they had no positives for a long time in TrustPilot, and I expect many more complaints to follow here after this complaint.
I hope people looking for exchange will see this post and all the other negative reviews and posts. So they will not pick this exchange; there are better exchanges than Uphold out there.

[JessieJames13]

At least you received something and they didn't simply stole coins from your account.

Uphold caused me a 30% loss of of my holdings due to them locking me out and and force selling my crypto at a time when the underlying crypto had temporarily dropped.

They also only answered my tickets after 6 weeks as I started to make noise.
I sent complaints to the FCA, Financial Ombudsman, and European Commission... Suddenly Uphold decide to respond.

Problem with most modern online services is lack of real actual support, they mostly have stupid bots and not enough human work force.

You're too generous. Uphold doesnt use such intelligent bots, they have a 2 byte bash script; "If USER_ID test send to external wallet, invokeBlock.sh USER_ID"
No AI needed at Uphold, They demand your 3d biometric data but it doesn't mean anything for your account validity, much be some other purpose  

Keeping coins on any centralized service is a risk.

Why do you think they want it on their exchange? Because when it does get hacked via an inside job, they have more treasure to loot.

[mindrust]

Uphold was crap since the start. It was a bad idea to use that shit service. I started using brave browser thinking maybe I could make some crypto watching some ads but I quickly noticed it is impossible to withdraw because Uphold asking for docs. From that moment I shut brave rewards feature off completely and used brave without watching any ads.

Uphold was the worst decision brave browser ever made. I am glad they are dying. I heard brave will come up with a new better prize distribution system and I hope it works this time. It is sad to see such a good idea is getting crippled by a shit service.

https://community.brave.com/t/brave-should-start-looking-for-a-better-wallet-partner-to-replace-uphold/584794

https://community.brave.com/t/psa-current-and-upcoming-changes-to-rewards-and-creators/526984

[JessieJames13]

Uphold was crap since the start. It was a bad idea to use that shit service. I started using brave browser thinking maybe I could make some crypto watching some ads but I quickly noticed it is impossible to withdraw because Uphold asking for docs. From that moment I shut brave rewards feature off completely and used brave without watching any ads.

Uphold was the worst decision brave browser ever made. I am glad they are dying. I heard brave will come up with a new better prize distribution system and I hope it works this time. It is sad to see such a good idea is getting crippled by a shit service.

https://community.brave.com/t/brave-should-start-looking-for-a-better-wallet-partner-to-replace-uphold/584794

Long live firefox w/ ublock Origin + canvas block or librewolf
Brave is too profit-driven. they couldnt care about users bad experiences.

[Z-tight]

The action of selling a users crypto at any point in time they decide wasn't in their terms, They are fraudsters acting illegally.

I have to agree with you here, i have never used Uphold and i really hope people who have plans of using them see this thread and change their mind. If their terms of service says one can withdraw crypto into their self custodial wallet, then they have to process crypto withdrawals and not block the account for months.

Then selling the crypto arbitrarily and refunding the customer fiat is borderline insane, how did they come to the conclusion that that is the resolution to customer wants, i recommend people stay away.

[JessieJames13]

The action of selling a users crypto at any point in time they decide wasn't in their terms, They are fraudsters acting illegally.

I have to agree with you here, i have never used Uphold and i really hope people who have plans of using them see this thread and change their mind. If their terms of service says one can withdraw crypto into their self custodial wallet, then they have to process crypto withdrawals and not block the account for months.

Then selling the crypto arbitrarily and refunding the customer fiat is borderline insane, how did they come to the conclusion that that is the resolution to customer wants, i recommend people stay away.

I agree, its clearly not legal. its these type of things that reveal your governments do not work in your interest, they are completely against you...
its one rule for them, one for everybody else.

They should be investigated & shutdown by the SEC / FCA, but likely they dont care.

Trustpilot and reddit show uphold have sold alot of peoples crypto without prior warning...

I can also see that uphold are paying for fake 5 star reviews on Trustpilot... the proof is just by reading the actual review - it doesnt align with what they offer, its vague nonsense, Whereas the 1star reviews have a ticketnumber with uphold even verifying the customer.

[JeromeTash]

They should be investigated & shutdown by the SEC / FCA, but likely they dont care.

Trustpilot and reddit show uphold have sold alot of peoples crypto without prior warning...

I can also see that uphold are paying for fake 5 star reviews on Trustpilot... the proof is just by reading the actual review - it doesnt align with what they offer, its vague nonsense, Whereas the 1star reviews have a ticketnumber with uphold even verifying the customer.

The SEC, FCA, CFTC etc don't really care about people's interest. They only care about safeguarding Government's interest and in ensuring the Government has control of people hard earn cash, how and where they spend it. That's all.
If they really cared about people, they should have shut down so many scam exchanges that are still operating up to now such as HitBTC, Yobit etc

[Pmalek]

I don't want to sound like I am kicking you while you are down, but you don't seem like a total noob and someone who doesn't know what they are doing. I wonder, then, what made you use this particular service? If you compared their rates with actual market rates, you would see that you can do much better elsewhere. You said yourself that they are scamming people with much higher/lower rates. I have never been a fan of centralized exchanges, but it's safe to say that you wouldn't have this kind of issue on many of them.

[yhiaali3]

Thanks for the warning and sorry for your bad experience, fortunately Uphold bans my country so I never registered there, although I tried before but they banned me.

Anyway I generally avoid any centralized wallet or exchange especially those that require KYC, I only use some centralized exchanges that do not require KYC to do some trades and then I transfer my assets to a non-custodial wallet or cash them out.

[examplens]

I don't want to sound like I am kicking you while you are down, but you don't seem like a total noob and someone who doesn't know what they are doing. I wonder, then, what made you use this particular service? If you compared their rates with actual market rates, you would see that you can do much better elsewhere. You said yourself that they are scamming people with much higher/lower rates. I have never been a fan of centralized exchanges, but it's safe to say that you wouldn't have this kind of issue on many of them.

It took me a while to remember where I knew about Uphold, even though I'm sure I've never used it, and mindrust reminds me. They were integrated with the Brave browser to claim the BAT token, which was obtained for watching ads in this browser. I assume that a significant number of Brave users used Uphold for this reason alone.
I remember researching it once, but Uphold was quite restrictive to my region, among other things, so I completely gave up on it. It seems I have nothing to regret.

[JessieJames13]

Anyway I generally avoid any centralized wallet or exchange especially those that require KYC, I only use some centralized exchanges that do not require KYC to do some trades and then I transfer my assets to a non-custodial wallet or cash them out.

this is the best way, F**K all KYC and F**K governments

[PX-Z]

Sorry for the loss, i never thought that there are still people keep using uphold, if i remember correctly this wallet/exchange just got a name after brave browser use it for BAT token exchange then later on become fully grown a*s exchange. And starting their own policy which is always anti users due their excessive  KYC, you can read those threads complaining on Brave community forum.