US Regulators and Customer Complaints - Uphold.com (2024)

FAQs

Is Uphold legal in the United States? ›

Is Uphold legal? Yes. Uphold legally operates in the United States.

Uphold is ideal if you want to buy and trade a variety of assets in one place. It offers a good range of cryptocurrencies, along with precious metals and national currencies. The platform boasts robust security measures, but a class-action lawsuit also raises some questions.

If your issue is unresolved by Uphold HQ, Inc. +1 (888) 821-0966, please submit formal complaints with the State of Alaska, Division of Banking & Securities. Please download the form here.

Uphold Headquarters and Office Locations

Uphold is headquartered in New York, 6 W 18th St 3rd Floor, United States, and has 2 office locations.

Around 90% of our crypto is held in cold storage. Your Uphold Ripple wallet can also be used to make payments to vendors, send money to friends, and instantly convert your XRP for local currencies and other cryptocurrencies. It's a safe and secure way to use and transfer funds.

Yes, Uphold reports to the IRS. Uphold issues US users with 1099 forms. Whenever you get a 1099 form - the IRS does too. As well as this, according to Uphold's privacy policy, Uphold has a legal obligation to report to the IRS any taxable transactions that occurred on their platform for the year.

Others have reported problems with Uphold customer service ignoring customers' frantic notices that their cryptocurrency funds had been stolen and generally not taking any responsibility despite allegations that Uphold's two-factor authentication failed and led to the theft of cryptocurrency.

The main problems that can occur when withdrawing money from Uphold are that you either copy the wrong receiving address or select the wrong blockchain network to use during a withdrawal.

Response Times

An agent will respond as soon as possible. Please note, this could take up to 24 hours during periods of high demand. Rest assured, we're actively addressing your request.

How many users does Uphold have? ›

Uphold is available in over 180 countries, serving more than 30 million users across the globe.

When was Uphold founded? Uphold was founded in 2013.

As a FinCEN Registered Money Services Business (MSB) in the United States, and as an EMD Agent of an Electronic Money Issuer regulated by the FCA in the United Kingdom, Uphold is committed to compliance.

We were the first to make XRP easily available in the U.S., expanding our offering to include full connectivity to the XRP ledger was the clear next step.

Uphold is not FDIC insured but does offer its own insurance. Uphold offers a USD Stable Coin, which is backed in a 1:1 ratio with physical dollars in FDIC insured banks. This means that for every dollar you spend there is a real US dollar, sitting in a US bank backing your digital money.

Most of the securities offered on Uphold are regulated by the U.S. Securities & Exchange Commission. This Uphold review will provide more information about what is on offer, the trading fees, Uphold card features, customer support, and more. Uphold currently boasts: 10+ million users.

Withdrawing USD to a U.S. bank account

At Uphold, we provide ACH withdrawal services for USD, giving our customers the flexibility to select between instant and standard processing times for their transactions.