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Platforms like Gemini and Coinbase can make cryptocurrency trading easy and safe for new and seasoned investors, as crypto trading draws both new and seasoned investors. Both are well-known centralized exchanges that follow tight US rules and are backed by major banking institutions like J.P. Morgan. Furthermore, you can use Coinbase Pro or Gemini’s ActiveTrader program to have access to sophisticated trading options on both platforms.
Although the exchanges are similar, there are some variances. While Gemini caters to institutional investors, Coinbase allows you to earn cryptocurrency while learning how to trade. Beginners will be able to use any platform with ease. Coinbase, on the other hand, has a little advantage because it is available in more countries and supports more currency types.
We looked at Gemini and Coinbase to see how much it costs to trade certain quantities and volumes, as well as what payment options are available and which cryptocurrencies are supported. We also looked at things like simplicity of use, unique features, and security options. We also looked at their customer service and the operation of their mobile apps.
In This Article...
Is Gemini a better exchange than Coinbase?
One of the most significant variables to consider when comparing cryptocurrency exchanges is value for money, since it indicates whether the brand provides appropriate quality for the price. Coinbase has a greater value for money score than Gemini in this scenario.
Examining the amount of active users is also quite useful. When comparing Coinbase vs Gemini, it is clear that Gemini has a larger active user base, with roughly 13.6 million users. Coinbase, on the other hand, has roughly 13.3 million active users. When we compare the amount of cryptocurrencies accepted by both exchanges, we can observe that Coinbase has a bigger number than Gemini.
It’s also crucial to compare bitcoin exchange fees thoroughly. When this statistic is compared between Coinbase and Gemini, it’s evident that Gemini has the lowest trading charge percentage of Up to 1%, while Coinbase comes in second with a fee of Up to 3.99 percent.
When comparing simply Coinbase and Gemini, Binance may appear to be the winner, however this is not the case when these companies are compared to all cryptocurrency exchanges in the business. As a result, you can plainly see how these two brands compare to Coinbase, the best-rated crypto exchange. Coinbase clearly wins this Coinbase vs Gemini matchup and can provide you with higher-quality services.
Is Gemini a reputable Bitcoin trading platform?
Gemini is a user-friendly cryptocurrency exchange that may be suitable for both novice and expert traders. If you’re interested in crypto investment or trading, Gemini is worth exploring. It has industry-leading security measures, its own hot wallet, and a thorough help center.
Is Gemini Pro less expensive than Coinbase Pro?
On their regular platforms, Gemini and Coinbase have fairly similar transaction fees. On their more advanced platforms, their cost structures differ slightly, with Gemini ActiveTrader being less expensive than Coinbase Pro when trading up to $50,000 per month.
Both of these exchanges levy a flat cost or a 1.49 percent fee depending on the transaction size on their basic platforms. Gemini charges a 1.49 percent fee on transactions exceeding $200, and Coinbase charges a fee of at least $205. Each exchange charges the same flat fee based on the transaction value for smaller transactions:
Depending on the payment option you use, there may be additional fees. Both exchanges offer free ACH transfers from a bank account. Wire transfers are likewise free on Gemini, whereas wire deposits and withdrawals on Coinbase cost $10 and $25, respectively.
Gemini ActiveTrader vs. Coinbase Pro
Maker-taker fee structures are used on these complex trading platforms. You pay the taker charge if you place an order at market price that is instantly filled. You must pay the maker fee if your request is not immediately fulfilled. In addition, Gemini includes an auction element with its own set of costs. The costs you pay are determined by your monthly trading volume on each platform.
Is it safer to use Gemini or Coinbase?
Beginners will feel at ease utilizing Gemini and Coinbase because they are both safe and easy to use. Institutional investors, on the other hand, can utilize Gemini’s tools to track device usage and access rights. In addition, the Gemini exchange makes it much easier to contact customer assistance.
Is it possible to move cryptocurrency from Coinbase to Gemini?
We’ll have to take a few more steps in Gemini, but it’ll still be relatively easy to figure out where everything is.
You’ll see your assets and a list of cryptocurrencies you own when you first log in. Make a click on the “To begin, click the “transfer” button at the top of the page.
Make a click on the “You can see the “deposit into Gemini” button to be led to the deposit page.
We’ll choose whatever cryptocurrency we want to deposit on this page. To see your address, select the currency from the drop-down option and then click proceed.
Is there a wallet in Gemini’s possession?
Gemini offers two wallets: Gemini Custody, a cold storage system, and Gemini Wallet, an insured hot wallet. Each year, Gemini Custody, which moves your crypto off the network and into Gemini’s secure custody, charges a 0.4 percent fee. Gemini Wallet provides high-security online storage as well as protection against digital asset theft.
You can also store your coins in your ordinary Gemini online account, which may be the most convenient option for newcomers, especially if you’re only investing a modest amount of money. You will not hold the digital keys to your crypto if you keep it in an online account rather than a wallet. Many crypto aficionados will tell you that you don’t own the crypto unless you have the keys.
ActiveTrader
Gemini’s most advanced trading service is called ActiveTrader. It allows you to trade cryptocurrencies in “microseconds” and provides advanced analytics such as real-time market data. It also offers a distinct and less expensive cost structure, but most novices will not need this service. However, when you gain more knowledge, switching to ActiveTrader may be useful in the future.
Gemini Pay
Gemini Pay allows you to spend your cryptocurrencies with no transaction fees at over 30,000 retail locations, including Nordstrom and Bed Bath & Beyond. However, we do not encourage using your cryptocurrency to make purchases. When compared to the US dollar, cryptocurrency is still extremely volatile, and utilizing it to buy things could result in excessive losses if the value of your crypto climbs in the near future.
What is the most reliable cryptocurrency exchange?
The term “best” might be interpreted differently by different people, but for the purposes of this post, I’ll refer to the most well-known, dependable, easy-to-use, and secure choices I’ve found to be the best crypto exchanges.
Kraken
Kraken is one of the more established cryptocurrency exchanges, having been around since 2011. It has exchange options for over 160 different types of cryptocurrency, as well as a helpful buy/sell guide for each to assist you assess current market prices, recent price movements, and market capitalization. The ability to perform margin and futures trading, as well as limiting orders, are among Kraken’s strengths.
To get new customers started, Kraken provides an instructions for installing the Apple or Android app, as well as a sample account to try out the product.
The full free schedule for Kraken may be found here. A 0.9 percent cost for stablecoin transactions, a 1.5 percent fee for non-stablecoin transactions, a 3.75 percent + $0.25 US dollars/Euros credit card or digital wallet processing fee, and a 0.5 percent online banking/ACH processing fee are all part of the basic structure. Overall, this is a lower-than-average set of crypto exchange fees. Kraken offers live chat assistance 24 hours a day, 7 days a week.
eToro
With 25 million users, eToro claims to be the largest social investment platform, and it has been around longer than Kraken, having been formed in 2007. While it has fewer cryptocurrencies (68 as of May 2022) than Kraken, its buy/sell guidance is updated in real time for up-to-the-minute pricing information, and it also allows you to invest in equities and exchange-traded funds.
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eToro has one drawback: it is now only available in 45 states in the United States. This cryptocurrency exchange is now unavailable to residents of Hawaii, Minnesota, Nevada, New York, and Tennessee, so keep that in mind.
The installation instructions for eToro’s mobile apps for Apple and Android can be found here. eToro also offers a sample account to try out the product, as well as $100,000 in fictitious “play money” to practice trading with.
eToro offers a straightforward fee structure, charging 1% for purchasing and selling cryptocurrencies. A minimum account balance of $10 is required.
Fees range from 0% to 2.99 percent and are determined by the transaction and payment method. If you pay with money deposited from a bank account via ACH, there are no costs, but credit/debit card purchases cost 2.99 percent.
Binance.US
On their buy/sell guide, Binance lists over 60 cryptocurrencies. The startup, which was founded in 2017, briefly shut down access for U.S. users in 2019 due to regulatory concerns. That’s how the Binance.US subsidiary was born.
The identification verification process is cumbersome, but the trade-off is that Binance.US has some of the lowest trading costs in the industry.
Binance is similar to eToro.
Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, and Vermont are among the states where US is not available.
The Apple version of the Binance mobile app can be downloaded here, while the Android version can be found here. A Binance demo account page can be found here, which offers $10,000 in fictitious funds “It’s just for fun.” Binance also explains how you can use the Demo Exchange mode to experiment with test transactions and analyze the results without actually committing the transaction.
Binance costs are very reasonable, at 0.1 percent for spot trading and 0.5 percent for buying and selling cryptocurrency, while their website also charges “Trading fees are calculated based on your trading volume over a 30-day period (in USD) and your daily BNBbalance,” says the website. Trading fees will be reduced by 25% for BNB consumers.
Coinbase
Coinbase is a well-regulated and well-known cryptocurrency exchange that supports over 150 different cryptocurrencies. Coinbase was created in 2012 and already has 98 million users in over 100 countries, giving it a powerful and varied platform that prides itself on its ease of use.
Coinbase was just rated the best crypto exchange for novices as well as the best overall in the industry by Investopedia.
The Apple version of the Coinbase mobile app can be found here, while the Android version can be found here. I couldn’t find any demo accounts, but this YouTube video talks you through the sign-up procedure, and Coinbase provides thorough training on how to get started with the platform. Furthermore, the mobile app provides news and videos regarding the crypto assets it supports.
Pricing: Coinbase’s own pricing website isn’t very helpful, which is one of the product’s few flaws, but reviews have determined that their rates range from 0.5 percent to 4.5 percent depending on the transaction, with additional costs possible. Coinbase One, an alternate pricing option in beta testing, offering no-cost trades and other features for a monthly price of $30.
BitMart
BitMart was established in 2017 and is currently listed among the top 20 cryptocurrency exchanges in the world. Their buy/sell page contains approximately 60 common cryptocurrencies and provides access to a good range of coins and futures trading with up to 50x leverage. There are several hundred transactional options accessible, which is the most of any provider in this evaluation.
In December 2021, BitMart was hacked, resulting in the theft of almost $200 million in assets, which the business promised to refund.
The Apple version of the BitMart mobile app can be accessed here, while the Android version can be found here. The instructions for creating a BitMart demo account can be found here. You can also download the appropriate mobile app by going to the company’s main website and choosing Download before scanning the QR code with your camera.
Gemini
Gemini was created in 2014, and its buy/sell page currently offers over 100 cryptocurrencies available for trading in more than 60 countries. The user interface is basic and intuitive, and there is a lot of help available.
Gemini was recently named the first SOC 2-certified crypto exchange and offers FDIC insurance for U.S. currency deposits up to $250,000. It was recently named the best in security in the industry by Investopedia, and it recently became the first SOC 2-certified crypto exchange and offers FDIC insurance for U.S. currency deposits up to $250,000.
By scanning the code provided on the Gemini website, you can download the correct smartphone app. While I couldn’t find a demo, there is a video here that shows how to use the product.
Trading fees are divided into numerous categories, including mobile and desktop, and are available here. They’re comprehensive, but mobile transactions with a value of $10 to $200 can have levels ranging from $0.99 to $2.99, with anything beyond $200 attracting a 1.49 percent standard cost.
Cash App
Cash App is a one-of-a-kind item in our roundup because it focuses not only on cryptocurrency exchange and stock trading, but also on conventional financial transactions. This puts it in the same league as PayPal and Venmo, making it a powerful tool.
Investopedia recognized Cash App as being the best crypto exchange for Bitcoin, despite its many features. However, I was unable to locate a buy/send link on their website, however the mobile app does provide the current rates.
The Apple version is available here, while the Android version is available here. While I couldn’t find a demo, there is a YouTube video here that shows how to use the product.
Transaction costs for cryptocurrencies range from 1.5 percent to 2.3 percent. Standard deposits are free if you expect to use the app for regular financial activities, whereas instant deposits cost 0.5 percent to 1.75 percent.
Bakkt
Bakkt’s seamless and secure platform, which can be accessed via the Bakkt app, was launched in 2018 and offers customers a low barrier to entry into crypto with an easy-to-use interface and no fees. Bitcoin and Ethereum are two cryptocurrencies that users can buy, sell, and send.
Additionally, app users can link compatible rewards and loyalty programs and convert select points to cash, which they can then use to conduct more bitcoin transactions, transfer payments to people, purchase gift cards, or make real-world purchases using the virtual Bakkt Visa Debit Card. Users of the Bakkt App may see loyalty points, rewards programs, gift cards, and cryptocurrency all in one place.
Bisq
Bisq is a decentralized bitcoin exchange platform that allows users in more than 180 countries to trade over 1000 coins. Bisq, which was launched in 2014, is unusual in that it includes a downloaded program that is compatible with all major operating systems. Apple and Android’s only mobile app options are essentially notification services that give you with trade status updates.
Bisq does not hold any actual assets because it is decentralized, but it connects vendors with buyers and vice versa. The benefit of this form of transaction is that it does not require the use of a bank account or a cryptocurrency wallet. This provides users with an additional benefit in the form of personal data protection.
Is Gemini a sign with a lot of fees?
Gemini’s fees are slightly higher than those of some other crypto brokerages, and they vary based on the platform you’re using, with the highest fee being 1.49 percent. The price for using a debit card for purchases is 3.49 percent, plus any other fees that may apply. Gemini imposes a fixed cost of 0.5 percent above the current trading price for mobile and web app customers (dubbed the “convenience fee” by Gemini). In addition, it levies a transaction fee, which is comparable to the one levied by PayPal.
Is Gemini a trustworthy wallet?
Cameron and Tyler Winklevoss created Gemini in 2014 after obtaining a charter to operate an LLC trust corporation from the New York State Department of Financial Services. Gemini was one of just three companies with a New York State “BitLicense” to deal in cryptocurrencies at the time, and has since established itself as a market leader. In 2016, the company became the first licensed Ethereum exchange, and two years later, it became the first licensed Zcash exchange. Users may now purchase and trade 80 different cryptocurrencies using fiat on the Gemini Exchange, including Bitcoin, Ethereum, USD Coin, and Litecoin.
Customers and their investment goals are supported by Gemini’s two wallet alternatives. The company’s web-based hot wallet, Gemini Wallet, allows clients to store cryptocurrencies acquired directly from the Gemini Exchange as well as move currencies to and from other wallets. Customers of Gemini Wallet are covered by a privately held insurance coverage that protects them from cryptocurrency theft caused by a security breach or hack, fraudulent transfer, or employee theft.
Gemini Custody, the company’s other option, is for those who plan to hold big quantities of cryptocurrency. This offline wallet stores assets and offers various security measures to keep cryptocurrency holdings safe, such as the ability to create a whitelist of outside wallets to which currency can be transferred and multi-signature technology to prevent unauthorized access. Custody accounts are covered by a $200 million insurance policy provided by Marsh and Aon, although users can purchase additional protection if needed.
Users who want to diversify their assets with cryptocurrencies can utilize Gemini Wallet and Gemini Custody, which provide a secure way to hold digital coins and swap currencies in real time on a computer or via a mobile app. However, the various security redundancies and fee schedule make it difficult to use as a daily wallet for people who wish to actively manage their cryptocurrencies, invest in non-fungible tokens (NFTs) or specialist altcoins, and actively utilize crypto to buy and sell products.