Did you know you can buy Precious Metals (Gold, Silver, Platinum, Palladium) on Uphold?
FYI, The information below is from November 2022 and things could have changed by now. So please do your own research before investing. I have heard Rumors that although Uphold may still sell precious metals, they might not be physically redeemable – this has not been verified.
I have not tried this yet, so please share in the comments if anyone has any experience or feedback with it. Also they recently released a Debit MasterCard that will let you spend your precious metals or crypto and earn 4% back as XRP. The website also mentions that you can later convert your UPXAU Gold investment into pure physical gold that they will ship to your home.
3/20/25 update – Warning, Uphold started removing all their articles and FAQs regarding precious metals storage and physical redemption. So physical redemption may no longer be available. Please verify with Uphold.
Buy gold, silver, platinum, and palladium and enjoy instant liquidity into 27 national currencies as well as zero custody costs. All spendable via the Uphold debit card.
https://uphold.com/en-us/assets/metals
https://uphold.com/en-us/products/metals
Universal Gold (UPXAU) – Redemption Process
https://web.archive.org/web/20221210021242/https://support.uphold.com/hc/en-us/articles/360049743611-Universal-Gold-UPXAU-Redemption-Process
Can I redeem UPXAU for pure physical gold?
If you’re a resident of Australia or the United States, you can redeem UPXAU today. We plan to add more regions soon.
There are significant costs associated with redemption that relate to the fabrication of the bars and delivery, shipment and insurance.
If you hold at least 1MM Universal Protocol Tokens [UPT], representing an investment, at the time of writing, of ~$5,000 – you’ll be able to redeem your gold for free on a one-time basis.
https://web.archive.org/web/20230208203917/https://support.uphold.com/hc/en-us/articles/360049269632
What is Universal Gold (UPXAU)?
UPXAU is the only form of gold that is free to hold, government backed, spendable on a debit card and purpose-built to be accessible and affordable for virtually anyone, anywhere.
Issued by the Universal Protocol Alliance, UPXAU is an ERC-20 gold Token like no other. Each Token represents 1 troy oz (31.10348 grams) of pure physical gold held at the Perth Mint in Western Australia.
The underlying gold is physically deliverable and government-guaranteed, which eliminates credit risk and the need for insurance, another major carrying cost of gold.
Each UPXAU Token is collateralized on a 1:1 basis by an Infinigold GoldPass Certificate in a transparent value substantiation process published on the Ethereum blockchain and audited by renowned blockchain security firm CertiK.
https://web.archive.org/web/20210513181212/https://support.uphold.com/hc/en-us/articles/360047103451-What-is-Universal-Gold-UPXAU
https://coinmarketcap.com/currencies/universal-gold
Where is GBI’s precious metal stored, and how it is transported and insured?
Currently, precious metals are stored on behalf of clients in protected and insured vaults in New York, London, Zurich, Singapore and Australia. In the future, GBI may choose to offer other storage locations based on feasibility, security and customer preferences. All precious metal transportation and storage is fully insured by GBI’s vaulting partners through Lloyd’s of London.
https://web.archive.org/web/20230322215140/https://support.uphold.com/hc/en-us/articles/203358295-Where-is-GBI-s-precious-metal-stored-and-how-it-is-transported-and-insured-
Does Uphold hold real precious metals or precious metal, e.g. gold or silver, shares (ETFs)?
When you hold gold, silver, platinum or palladium at Uphold, we hold that precious metal, e.g. gold bullion, in our reserve to back that value. Precious metal holdings are audited on a daily basis by GBI’s approved vaulting partners. An audit report containing bar lists is sent to GBI by the vaulting partners. In addition, an internationally recognized auditing firm audits all of the precious metal holdings on a quarterly basis. Each broker-dealer will confirm precious metal bar holdings with GBI on an aggregate basis and report individual holdings at the customer level through their existing platform.
https://web.archive.org/web/20221122153839/https://support.uphold.com/hc/en-us/articles/204329985-Does-Uphold-hold-real-precious-metals-or-precious-metal-e-g-gold-or-silver-shares-ETFs
Precious metals
Our spread is typically 3% on top of the bid-ask prices at our supplier.
https://uphold.com/get-started/service-fees
You can also buy GLD paper gold on Uphold, but I don’t recommend this.
https://web.archive.org/web/20211025133754/https://uphold.com/en/assets/equities/buy-gld
You can also buy U.S. Equities (Stocks) like Tesla, Amazon, etc.
https://web.archive.org/web/20221126095436/https://uphold.com/en/assets/equities
Uphold Launches Crypto-Linked Debit Card Offering up to 4% Rewards in XRP
Nov. 11, 2022 – Uphold, a digital money platform, today announced the launch of its new debit card for UK customers that pays industry-best rates of up to 4% rewards in XRP. Unlike other comparable cards, the Uphold Card will not charge non-sterling transaction fees making it ideal for travel and use overseas. A US version of the card will launch over the next week and will be fully available by the end of the month.[2]
Customers will simply convert their crypto, metals, fiat, or other assets to GBP or USD via the Uphold app. Then, the card enables seamless purchases from users’ accounts wherever MasterCard is welcome.
https://www.prnewswire.com/news-releases/uphold-launches-crypto-linked-debit-card-offering-up-to-4-rewards-in-xrp-301675814.html
Note: Uphold closed the crypto card in USA, and only the UK card is still available
https://web.archive.org/web/20231130095658/https://support.uphold.com/hc/en-us/articles/13817474999835–U-S-Uphold-Debit-Card-Scheme-Closure
Uphold Card in the UK
What’s special about the Uphold Card
The Uphold Card is accepted by more than 50 million merchants worldwide via the Mastercard network.
As a ‘true’ debit card, rather than a pre-loadable card, it’s far more widely accepted than many of its competitors, bringing a whole new level of utility to your Uphold account.
You can automatically convert any asset held with Uphold into fiat to spend on your card. What’s more, using your Uphold Card when traveling abroad will protect you from the punitive FX rates charged by banks – sometimes as high as 10%.
Last but not least: with the Uphold Card you’ll earn cash back rewards on all your purchases!
https://support.uphold.com/hc/en-us/articles/15452555670171-Uphold-Card-in-the-UK
Uphold Reserve information
https://uphold.com/en/transparency
Uphold – Receive Physical Gold
I found the setting in the Uphold mobile app that allows for physical Gold redemption.
More > Integrations > Ausecure (Buy, store or get Gold delivered right to your door)
So looks like Uphold lets us buy Gold, which they store for free. And when time comes we can quickly sell or swap for another precious metal, crypto, or stock. Or request that Uphold deliver the physical Gold to our home (through their Ausecure partner)
Uphold Physical Gold Redemption Update!!! 11/25/22
I went ahead and emailed Uphold support, to confirm this physical redemption is still ongoing today. And Uphold confirmed, that it still does work today.
Here is the link Uphold gave me for Ausecure: https://web.archive.org/web/20240415153817/https://uphold.com/apps/app/ausecure
Here is the email I received from Uphold:
Thank you for contacting Uphold’s Support Team, my name is Nubia, and I’ll be glad to assist you today.
Of course, you can withdraw physical gold from Uphold.
You can withdraw physical gold through our partner Ausecure. You will need to add Ausecure’s integration to your account.
Ausecure was founded at the Chicago Mercantile Exchange (CME Group) in 2009 with the common goal to bring transaction innovations to physical commodities. In that time Ausecure has been a continuous driving force in the space. Providing expertise and development directives throughout the industry for leading mines, refiners, dealers, and brokers, as well as exchange driven technology platforms, including centralized and decentralized exchange driven instruments.
Feel free to reach back if you have more issues or inquiries.
Also check out some of my previous youtube community posts regarding Precious Metals:
Please see Precious Metals Playlist on this channel for other Gold and Silver prophecies: https://www.youtube.com/playlist?list=PLO1m7bMugpBmHrrHr14a2M889EbTV3WNe
Here is a youtube community post I made regarding Precious Metals (Gold/Silver): https://www.youtube.com/post/UgkxpqbIozH_ncDSGZNBORImoc6myMEQAm53
Here is a great youtube post regarding Silver ETFs: https://www.youtube.com/post/Ugkx1KNsxkYcCXmOhFTBSnbdMKOixSeVMbbw
Here is a youtube community post I made regarding Precious Metals on Uphold:
https://www.youtube.com/post/UgkxHGSI9xcDfLzYTmyYjxzMg-1Osey-TWha
Here is a post I made regarding physical redemption of Gold on Uphold:
https://www.youtube.com/post/UgkxNzneSFjhxi-DPxoil0q1mLnglVozhO92
Here is YouTube community post I made where I received a confirmation from Uphold on 11/25/22 that physical gold redemption process still works today.
https://www.youtube.com/post/UgkxanSd_2jVxjWRoOBWh1wtWExPdGLSLld_
Here is a great article explaining how to legally buy/sell precious metals (e.g. gold) without it being reported to IRS. The Payment Method is very important. https://www.youtube.com/post/UgkxpDkUdnSp-sMa0LCk0TgDIdipUDtGWYZk
4/24/24 update – FYI, uphold used to be able to deliver precious metals to your home using a third party. But in the last 2 years there have been rumors that they may have discontinued that option. Please do your own research.
3/20/25 update – Warning, Uphold started removing all their articles and FAQs regarding precious metals storage and physical redemption. I was able to find the historical version on archive, so I replaced the links above with archived pages. Not sure what this means, maybe that they no longer allow physical redemption? Also they no longer mention where they store their metals, which is not good.