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Uphold is a highly innovative regulated financial application giving users access to a various assets including crypto and precious metals. However, choosing to offer multiple things makes a service overwhelming to users.
That’s where Exodus edges Uphold. Exodus is a pure cryptocurrency wallet with an extremely intuitive and attractive user interface. Compared to Uphold, it offers a few extra features that relate to crypto.
However, Uphold is still a great financial service provider with its ‘anything to anything’ trading mantra.
In this guide, you’ll learn how to transfer your cryptocurrency from Uphold to Exodus.
We’ll discuss why you may want to do that and the pros and cons of using Exodus as your preferred digital asset wallet.
Read on for a step-by-step guide on sending crypto from Uphold to Exodus.
What are the pros and cons of Exodus?
As a crypto services provider, Exodus wallet comes with its fair share of benefits and drawbacks. Here are some of Exodus’ pros and cons:
Pros
- Exodus is well established having been launched in 2015. In the cryptocurrency space, the older you are the better because a lot of scammy services come up every day and disappear just as fast taking with them, their users’ funds.
- Exodus developers have always focused on the user interface and experience. This focus has made Exodus the most attractive crypto wallet app with a beginner-friendly UI.
- The wallet has broad support for several of the most popular cryptocurrencies. As of writing this guide, the wallet supports over 150 digital assets.
- Exodus wallet is available on both desktop (Windows, Mac, and Linux) and mobile platforms (iOS and Android).
- There is a built-in exchange for hundreds of assets making it easy to swap amongst the more than 150 assets.
- Exodus comes bundled with several cryptocurrency apps including SportX for sports betting, Compound Finance for decentralized finance (DeFi), and staking.
- Enhance security measures – Exodus understands that software wallets aren’t as secure as their hardware counterparts. Instead of trying to complicate its UI in favor of increasing the security of the wallet, Exodus has partnered with the leading hardware wallet Trezor to offer its users the added security of using Trezor through the attractive Exodus wallet interface.
Cons
- Exodus wallet isn’t open-source and its underlying code cannot be audited by independent security analysts for vulnerabilities.
- As a software wallet, it’s less secure and the option to integrate with Trezor costs money since hardware wallets are not free.
Why transfer to Exodus?
There are several reasons to transfer your crypto from your Uphold account to an Exodus wallet but here are the most common ones:
Exodus has broader support for altcoins. Currently, uphold supports about 75 cryptocurrencies while Exodus supports 150.
Despite Uphold offering staking services, so far only two assets can be staked (Ethereum and Polkadot) and even then, the service has not been fully launched.
Exodus users, on the other hand, have access to at least seven digital assets on the staking service and it’s already usable.
Exodus offers extra utility for assets stored in the wallet. For instance, Dai stored on Exodus can be used for DeFi purposes and sports betting.
Although Uphold has a simple user interface that is ideal for beginners, it is now as intuitive and attractive as Exodus.
Trades on Exodus are cheaper than similar trades on Uphold which charges higher fees on smaller transactions up to a high of 1.8% above network fees.
How to transfer crypto from Uphold to Exodus?
Follow these steps to send Bitcoin or any altcoin from your Uphold online exchange account to your Exodus wallet.
Note: In this guide, we’ll use the Uphold mobile application but the process is similar to the web interface. In fact, the mobile app is more convenient because it offers the wallet address QR scan tool that you may not be able to use with the web interface.
Step 1 – Access your Uphold account.
Log into Uphold and on the homepage select (tap) the trade icon on the bottom navigation as shown in this image below.
Tapping the trade icon will open up the trade wizard where you’ll be required to specify the particulars of the transaction.
Step 2 – Provide the transaction details.
The follow-up screen has three form fields to fill in including the asset you want to transfer, how much of it to send, and the receiving address.
In the [From] field choose Bitcoin by tapping the dropdown arrow and selecting it from the list of assets. Here you can also specify the amount to transfer but for simplicity purposes, you may want to use the fiat currency value indicator just below.
Uphold will automatically convert from fiat currency to the appropriate amount in crypto and autofill it above.
You need to specify the asset you wish to exchange the current asset for, or in our case, the address to which you want to send the Bitcoin. Tap the down arrow in the [To] field and select cryptocurrency network on the main tabs which will then list the available or supported crypto networks. Select Bitcoin.
Tap on the [Preview withdraw] to display the Bitcoin address input form field.
If you have the Exodus wallet address copied in alphanumeric characters, you can go ahead and paste it here. Otherwise, use the QR scan tool to easily capture the receiving wallet address.
Let’s head over to Exodus to get the Bitcoin wallet address to fill in this section.
Step 3 – Access your Exodus crypto wallet address
Log into Exodus wallet, tap the wallet icon on the top menu, select Bitcoin from the list of assets on the left column then tap the [Receive] button.
Step 4- Copy or Scan the Bitcoin wallet address.
The follow-up screen will display the Bitcoin address you need to receive Bitcoin from Uphold.
Use the Uphold QR code scanner by tapping on the three small boxes on the wallet address form field. Point the camera towards the Exodus wallet address’ QR code to capture it.
Uphold will update the wallet address on the [To] field showing that it has captured the address.
Tap on the [Preview withdraw] button to continue.
Step 5 – Confirm transaction details.
Go over the details provided in the confirmation screen. Check the receiving address and the amount you want to send.
Tap on the [Confirm] button to authorize the transaction. Your BTC will reflect on the Exodus wallet once the Bitcoin miners confirm the transaction.
Learn more: How To Transfer Crypto From Newton To Binance
Final thoughts
That is the simple process for transferring your Bitcoin (or altcoins) from your Uphold account to Exodus wallet. Both Uphold and Exodus have intuitive interfaces making them beginner-friendly.
Be careful not to send your crypto to the wrong address. Make sure that the receiving address as shown in the confirmation screen matches the Exodus wallet address you want to send to by checking the first and last five characters of the address.
