I Think I Know Why People Hate Uphold Uphold is a CEX that I have seen getting quite a bit of hate here on Noise.cash recently. Yes, as a CEX it automatically sucks, but I think I now know why people dislike it so much. Look at the attached pic, and read under the heading on the right titled "Blockchain integration". Do you notice that you can only withdraw seven types of crypto to your own wallet? WTF is up with that? I was logged onto Uphold today, and I thought I would buy some NANO, because they are one of the few places that support this coin. But as I was going through the buy process, I got a warning message that any NANO I purchased could NOT be withdrawn to an external wallet, but would have to be converted to something like US Dollars first. Okay, NANO is kinda weird. How about KAVA then? I got the same disturbing message. SOL? Can't withdraw it either. No wonder Uphold claims to "support" so many different types of crypto. It appears to me that they just hold your money in a "slush fund" of some type, (probably invested in a DEX), and simply allow you to track how your "crypto" is performing by showing you results based on prices in the crypto market. Boo! Hiss!! This is bullshit! This is even, (if you can imagine such a thing), worse than Coinbitch, (aka Coinbase), which at least actually holds the crypto they claim to buy for you, and will allow you to withdraw your crypto to an external wallet. (If you're able to logon to Coinbitch, which can be a futile endeavor sometimes.) I now consider Uphold to be swimming in the muck on the bottom of the barrel with the likes of PayPal, another place which deceptively allows you to "own" crypto. (Ever try to withdraw "your" crypto from PayPal?) Yet these turd merchants are allowed to operate freely, while a site like BlockFi, which was giving ordinary Americans a chance to earn high interest rates on crypto they owned, gets bitch slapped by the criminals at the SEC. (Maybe Will Smith could go work for the SEC, or be their spokesman?) NOT YOUR KEYS, NOT YOUR CRYPTO!!
2 comments
I want to know the name of the wallet
??? Uphold is a CEX. "The wallet" could be any external wallet that you use.