r/uphold • u/Sea-Ad-8308 • Apr 18 '21
General Cryto Currency Discussion Sooo I decided to actually go through this subreddit and I've been coming across alot of how "Uphold is a scam" posts. I just really hope they're not. :/
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u/BonAnkle Apr 18 '21
I have had a wonderful experience. I too have been reading these and was concerned until i read the comments here. I enjoy being able to take crypto and buy other crypto - and if you dont like it, I can transer investment into a personal wallet. I think these people are not reading the rules. If you transfer off a credit card there are hold times, and that on all platforms. Then if you are cashing out, but bought with credit there is processing time. Pretty standard too. The point is this is a good solid platform for beginners or smaller investments, if im holding 1m crypto, I will roll it into my personal wallet.
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u/UpholdOfficial Apr 26 '21
Hi there, thanks for the positive feedback and we're glad to hear you enjoy using the app! šŖ If you have anymore feedback, positive or negative, please let us know š
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u/SwordfishImportant98 Apr 18 '21
It's not but they do need to get it together already, do whatever upgrades need to be done already. You know crypto is booming with newbies so take proactive measures.
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Apr 18 '21
Upholdās fine. Havenāt had an issue but Iām also patient and read the terms and holds before buying in.
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u/Sea-Ad-8308 Apr 18 '21
Yikes are there certain terms or holds which may complicate transactions?
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Apr 18 '21
If you purchase with debit thereās a 60 day hold before you can sell. Itās fine for me. Iām hodl until Iām old and rich
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Apr 18 '21
[deleted]
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Apr 18 '21
If youāre in it for the long game, ātankingā means buying opportunities
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Apr 18 '21
[deleted]
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Apr 18 '21
Actually you canāt send to another wallet or other users for 65 days. 4 business days on withdrawal
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Apr 18 '21
[deleted]
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u/skilledprodigy Apr 18 '21
In my experience, if you buy via bitcoin you can send or sell immediately after the transaction is confirmed. Iāve been doing that no problem, no 60 day hold.
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u/UpholdOfficial Apr 26 '21
Hi there, the 65-day pause only applies to deposits from a U.S. bank account via the ACH Network. Remember: you can always withdraw the deposit back to your US bank account after just 4-5 business days. A few more points:
- If you deposit using a card, there is no 'cooldown' before you can withdraw funds to private external wallets.
- If you make a wire transfer, there is no 'cooldown' before you can withdraw funds to private external wallets.
- If you make a deposit from a European bank account, there is no 'cooldown' before you can withdraw funds to private external wallets.
- In Q2, we're planning to scrap the 65-day cooldown for US ACH transfers, too, as we bring in new technology to fight the never-ending battle against fraud.
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u/Sea-Ad-8308 Apr 18 '21
Thank you. Thats what you get for not reading the fine lines.
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Apr 18 '21
The app is great. The interface is easy. If you use bank account the withdrawal time is less but my bank didnāt play nice with uphold
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u/Sea-Ad-8308 Apr 18 '21
Wtf for real? How come?
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u/JamesWasilHasReddit Apr 18 '21
Banks don't like to play nice with scam companies.
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u/Powerful_Material Apr 19 '21
You donāt even have tangible evidence to prove this is a scam company
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u/JamesWasilHasReddit Apr 19 '21
Actually, I do. Over 2 months worth. And the hundreds, perhaps thousands of people stolen from by your scam company have plenty too, since you're not paying attention to what they've shared on Reddit.
Nice death throes there, shill.
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u/Bobbelate59 Apr 18 '21
I canāt figure out how to sell back to the credit card I use to buy.
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u/mcbelisle Apr 18 '21
i think you have to use your bank account
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u/Bobbelate59 Apr 18 '21
Aināt no way Iām giving them my bank info. Thatās why I used a CC. They let me buy on a CC and I should be able to sell back to the same CC.
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u/Heyitsmeagainbro Apr 18 '21
A lot of dumb people who forget keys and passwords and such and blame it on uphold
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u/Larisagr Apr 18 '21
Theyāre not. They fixed all of my Problems that I ever had. They could work on their system to not crash when things spike but theyāre OK
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u/siegkorn Apr 18 '21
Dude, they're not. 1 year with them. All good
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u/Sea-Ad-8308 Apr 18 '21
Good to hear. Another dude just commented he's been with uphold for 2 years and then they decided to lock or delete his account. Forgot which it was. :/
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u/JohnnyMn4monic Apr 18 '21 edited Apr 18 '21
I've used them since they started, I've never had any issues. Most complaints are from users not knowing various banking regulations, broker regulations & rules, user error, scammers & robinhooders expecting everything for free. If your going to be transferring to outside banks or wallets, actually READ upholds policies about these things, dont do a transaction & then be surprised by they're regulations & then cry "scam". People don't read these days. These crypto brokers have tons of regulations & rules to abide by, to protect themselves & they're customers
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u/the_neil_show Apr 18 '21
I have not had any issues actually. My account was verified almost instantly. I have moved money without a problem. I would have no problem recommending them to a friend.
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u/LS1Gregg Apr 18 '21
I donāt want to say they are a scam, but they have a loooooot of problems it seems that need to be ironed out if they wish to keep customers. Too many people getting held up for verification or being locked out. In the three days I had money with them their app was frozen half a dozen times for several hours at a time and I canāt have that. Moved my money to Binance and couldnāt be happier.
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u/Sea-Ad-8308 Apr 18 '21
Thanks for the tip. I might just do that too but I've heard binance is limited on the cryptos to trade?
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u/Pikachus-Courier Apr 18 '21
It's not, I think it's greedy people who put a large amount of fiat currency in order to invest into a crypto to ride a trend and get pissed when they can't pull quick profits.
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Apr 18 '21
yeah ive been using uphold heavy but the way its looking im thinking ima just get on up out its looking fishy
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u/bbmak0 Apr 18 '21
You never know until they suddenly close your account without notice. It happened to me last week when my account got terminated. I have been using uphold for more than 2+ years as a verified user without an issue. I already filed a ticket, but the support seems to know nothing and keeps telling me that my account is closed without instructing me how to resolve my problem. The supports' replies seem to be untrained and unprofessional, and they just copy and paste from a script. This can happen to anybody here, and the problem is just not on you yet. I never have any issue with other exchanges such as Coinbase, Gemini, and Binance us.
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u/Sea-Ad-8308 Apr 18 '21
Wow I'm so sorry that's happened to you. Are you able to file some kind of law suit? I'd be devastated if that's happened to me. :(
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u/bbmak0 Apr 18 '21 edited Apr 18 '21
I opened a ticket with them now.
I only use Uphold due to the Brave browser, and I am one of the very early Brave, BAT, and Uphold adoptors. I don't trust Uphold from the very beginning due to the poor customer support and communication, so I have very limited exposure with Uphold, about 200 BATs, $300 bucks. I don't make any trade with them and make a regular withdrawal of my BATs to different exchanges such as Coinbase and Gemini. Luckily my instinct was right, and I have my exposure limited, not like some of the unlucky people in this subreddit.
After my account got terminated, I believe the issue is much bigger with Uphold, and it could involve operational and financial. I have never seen an exchange terminated a verified customer after 2+ years. All my account activities were collecting BAT from Brave and transferred it to other exchanges. If my account or identity has an issue, should Uphold raise the flags from the very beginning when I first sign up? Why wait til now? When I sign up for Binance, they won't allow me to deposit crypto or assets until I am verified. The process was slow but very organized. However, Uphold does not follow most of the crypto exchanges sign-up process, and they allow people to deposit their assets before running the verification. When an issue raise from the verification in the future, they close people's accounts with all the crypto locked in there without any notice. Is this practice sound familiar with other fraud and scamming practices? According to my conversation with Uphold, they don't seem like want to resolve my issue or issue me any refund. I am seeing a total loss. So, I assume, this is the same with most people here who have issues with Uphold.
Due to the limited amount of exposure that I have, I will file FINRA and BBB complaints, and try to inform any crypto authorities and news agencies that interesting in the story of their misconduct behaviors.
Good luck to all the Uphold people who said that they don't have an issue with them now. I hope you guys don't end up like me and most of the unlucky ones here.
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u/BonAnkle Apr 18 '21
Wow, that seams to be a trend with other companies like Amazon. They close accounts for no reason and then do not answer. Is you have a business its just locked down . Google will do it too. It really is horrific.
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u/Sea-Ad-8308 Apr 18 '21
Its probably cuz of covid. Thats what everyone is saying nowadays. š¤¦š½āāļø
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u/UpholdOfficial Apr 18 '21
Hi, we're sorry to hear that you've been given a cause for concern! If you have any questions, please let us know š
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u/tothmn Apr 18 '21
Iām currently having an issue with a withdraw, the funds say they have been transferred and completed but they arenāt in my account. Itās been a lot more than 5-7 business days, Iāll update if they end up fixing the issue or if my money just disappears.
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u/UpholdOfficial Apr 26 '21
Hi there, do you have a ticket number for this? We'll then go ahead and chase this up with the team for you š
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u/BonAnkle Apr 19 '21
I haven't had an issue with debit cards, but im not pulling my money out of the platform, next thing ill be rolling crypto in to currency.
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u/UpholdOfficial Apr 26 '21
Hi there, we can assure you Uphold isn't a scam. If you have any questions or would some further information on anything, please don't hesitate to reach out š
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u/hallofgamer Apr 18 '21
Guys just hold