Gemini vs Coinbase

About Gemini

Launched in 2015, Gemini is a crypto exchange that allows users to safely operate with crypto. End users can buy, sell, trade, and safely store over 40 cryptocurrencies inside their Gemini wallet.

It’s a popular option among beginners and seasoned investors because of its fees, security, and ease of use (directly related to their mobile and desktop apps).

Cameron and Tyler Winklevoss, the founders of Gemini, have hinted at the development of a Gemini card in the near future. Along with that, the Gemini owners have shown interest in launching an IPO.

About Coinbase

Coinbase is a direct competitor to Gemini. It is one of the most renowned crypto investing platforms globally, providing over 100 altcoins.

This popular exchange currently has over 73 million users and $255 billion in assets inside the platform. What started in 2012 as a place to trade Bitcoin has quickly transformed into one of the powerhouses of investing in over 100 countries.

Gemini vs Coinbase: Fees

Both Gemini and Coinbase are known for having higher fees than most direct competitors.

Gemini has a very complex fee structure that varies according to the sum you’re buying, selling, or trading. Trading amounts below $200 will be associated with flat fees that will go up the higher the traded amount. Above the $200 threshold, you’ll be charged a very abrupt 1.49% fee. One way to circumvent this is by using the Gemini ActiveTrader plan, which will allow you to save significant amounts.

Coinbase implemented a maker-taker structure. With this, you’ll be charged 0.5% for most trades. As the amount traded goes up, fees will go down. The deposit method will also affect how much you will pay.

If you use wire transfers, Gemini will not charge you for deposits or withdrawals. On the contrary, Coinbase has a flat commission of $10 for deposits and $25 for withdrawals every time you opt for a wire transfer.

Gemini vs Coinbase: Available Coins

When it comes to fiat currencies, there is a significant gap between the two platforms. Gemini offers seven (USD, AUD, CAD, EUR, GBP, SGD, and HKD), while Coinbase offers only three (USD, GBP, and EUR).

However, Coinbase has a broader offering of altcoins. Dash, EOS, Cardano, and Ethereum Classic are just a few examples of coins that you’ll find only on Coinbase.

Crypto Wallet

The wallets offered by each of the exchanges are similar in a lot of ways. They’re both insured, which is always a plus (we’ll touch more on that below under security), and the methods for withdrawals and deposits are plenty.

With varying fees with each of them, you can deposit and retrieve funds using credit/debit cards, bank transfers, wire transfers, among a few others. All the methods are safe, so it’s up to you to decide which is more profitable according to the amounts and related fees you want to move.

Security

Both exchanges are compliant with the highest level of safety measures and regulations. If you’re uncertain your money might not be safe, rest assured, Gemini and Coinbase do a great job in the security department.

Hacks and breaches are unlikely. Gemini and Coinbase enforce security features across the platform like two-factor authentication. Additionally, Coinbase advertises that 98% of its customers’ funds are kept safe offline in what is called cold storage.

However, even with all the security features the exchanges provide, breaches and hacks are possible. If it were to happen, Gemini insures your funds. Likewise, your Coinbase funds are insured up to $250,000 by the Federal Deposit Insurance Company (FDIC).

Ease of Use

If you’re new to this type of platform, you’ll be happy to know that Gemini vs Coinbase, when it comes to user-friendliness, is a close call, and for the right reasons. Both platforms have desktop and mobile apps which are easy to navigate and feel intuitive even for beginners. However, Coinbase might be a smidge easier to comprehend quickly.

If you have trouble adjusting to the interfaces, don’t worry, both Gemini and Coinbase have informative articles and quick guides that can you set you on the right path.

Other Features

One thing to note about Gemini is its NFT marketplace. As the non-fungible token market is revolutionizing the way we consume art and private property, Gemini launched a company called Nifty Gateway. This company allows Gemini users to buy NFTs in the same safe way they’re used to trading in the Gemini platform.

While Coinbase doesn’t support NFT yet, it offers you the chance to upgrade to Coinbase Pro. This platform within Coinbase is available to everyone and gives you the chance to access more trade types along with lower fees. The lower pricing is directly related to the maker-taker structure that Coinbase Pro introduced.

Conclusion

If, after reading all the points about the benefits and shortcomings of each of the exchange platforms, you still can’t decide between Coinbase vs Gemini, rest assured. The best way to find out which of the platforms is best suited for your particular case is to simply access our crypto exchange comparison tool.

By answering just a few simple questions, our algorithm will point out the best crypto exchange that you can use.