Yesterday I wrote about Newton's response to FTX and how they're sending out emails to reassure people that their investment is safe, it's Uphold's turn to send emails. Uphold is slightly different to Newton, but at the same time, is pretty much the same. However...

I read bad things about Uphold all the time on reddit with people not able to process withdrawals, limit orders not triggering, transaction on hold and even claiming that the app itself is a scam.

Being a Brave Browser user, I have my BAT deposited into uphold. It's not a huge amount to be honest, but it's something I keep an eye on as I dip my toes into cryptocurrency trading.

Uphold claim to never loan out your money and that they are fully reserved. They even go so far as to provide real-time proof of their assets and liabilities. Currently they are over 102.3% reserved. This is definitely a good step to gain the trust and confidence of clients. But is this a number they pulled out of the air?

With all the problems I listed earlier, it seems that caution needs to be taken with every exchange right now. Everyone is worried about who the next FTX will be and the current dramatic fluctuations in crypto prices is showing that people are uncertain.

With little to no response from Uphold itself to the many issues listed on Reddit, how safe are they exactly? Does anyone have any good stories about them?

Should I be moving my BAT elsewhere, and what are my choices. They seem to be the only option if you use the Brave Browser.

Photo by Leeloo Thefirst