UPay review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
UPay runs as a mobile wallet with custodial storage, which suits you if you want crypto in a phone app and would rather the provider handled keys and backups. The trade-off is custody: your coins sit with a provider, and hardware wallets such as Trezor keep the keys with you instead.
Key facts
- Best for
- A phone-first crypto wallet for everyday use, if a provider holding custody suits you.
- Wallet type
- Mobile↗
- Custody
- Custodial↗
- Features
- Custodial
- Official website
- upay.com
Facts checked September 26, 2026, 2 sources
Apps and profiles
- Get the app
- App Store
Pros and cons
Pros
- Your wallet type is mobile, so spending, transfers and balances sit in a phone app you carry with you.
- Custody is custodial, so the provider keeps the keys and handles recovery for you.
- Custodial storage is the most common setup in this category, on 56.6%, so it is a well trodden model.
Cons
- Custody is custodial, so a provider stands between you and the coins, and a problem on its side reaches your balance.
- Your wallet type is mobile, so the keys are not in your hands the way they are with a hardware device such as Trezor at hardware.
- Crypto carries its own risk: retail accounts lose a median of 70.15%, and custody adds a provider on top.
Who it suits
- You spend crypto day to day and want everything in one app on your phone.
- You would rather a provider handled keys and recovery than write down a recovery phrase yourself.
Who should look elsewhere
- You want your own keys: VaultLeap is self custody.
- You want a hardware device for signing offline: Trezor is hardware.
- You would rather work from software on a desktop: CoinStats is software.
How UPay compares
Its wallet type is hardware, so signing happens on a device you hold rather than in a phone app.
Frequently asked questions
What kind of wallet is UPay?+
Its wallet type is mobile, so UPay runs as a mobile wallet you open on a phone, with balances, transfers and payments handled in the app. Mobile wallets are the most common type in this category, on 67.8%, so you would be following the majority setup.
Who holds my crypto?+
Custody is custodial, meaning the provider holds the coins and the keys, not you. That keeps recovery simple, and it also means your balance depends on that provider staying secure and solvent. VaultLeap takes the other side of the same trade at self custody.
What will it cost me to trade or hold crypto?+
Costs vary by wallet. Across the wallets listed, taker fees sit at a median of 0.25% and the median annual fee is €0. A mobile wallet also saves on hardware, since the median device price here is €0.
Which coins can I hold?+
Coin support varies widely in this category: the median wallet here supports 50 coins, with a lower quartile of 9 and an upper quartile of 392. Check the current list in the app before you plan a purchase.
How do I fund the wallet?+
Bank transfer is the most common funding route in this category, listed on 94.5% of these wallets, with card top ups on 54.9%. As a mobile wallet, funding happens inside the app you already use for balances and transfers.
How safe is a custodial wallet?+
Custody is custodial, so a provider rather than you holds the coins and you rely on its security and its balance sheet. Keep that in view when you size a balance, and remember retail crypto accounts lose a median of 70.15%.
How do I get help?+
Support in this category leans on self serve routes. A help centre is listed for 87.8% of wallets and email for 69.3%, while phone support appears on 20%. For a mobile wallet like UPay, expect the app and its help articles to do most of the work.
Can I spend from it in shops?+
Card spending is common in this category: 63.2% of these wallets come with a debit card, and cashback is the most common reward on 92.3%. What you can spend from a UPay wallet depends on the card your own account comes with.
Sources
- blog.upay.com/what-is-a-crypto-card-complete-beginners-gu... checked September 26, 2026
Backs: Custody, Features
“Most consumer crypto cards, including Upay, use this model”
- upay.com checked September 26, 2026
Backs: Wallet type
“download the UPay Wallet mobile application”
Compiled from 2 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Price, Coins supported.
Related by the facts
UPay
A phone-first crypto wallet for everyday use, if a provider holding custody suits you.