As crypto trading attracts new and seasoned investors, platforms like Gemini and Coinbase can make it easy and safe to trade cryptocurrency. Both are well-known centralized exchanges that abide by strict U.S. regulations and are backed by large banking systems, such as J.P. Morgan. Moreover, you can access advanced options for trading on both platforms via Coinbase Pro or Gemini’s ActiveTrader program. Although the exchanges are similar, differences exist. Gemini provides features that support institutional investors, while Coinbase lets you earn crypto while learning about trading. Beginners will feel comfortable using either platform. However, Coinbase has a slight edge, as it’s available in more countries and offers more currency types. We reviewed Gemini and Coinbase to determine overall costs for different trading amounts and volumes, payment methods available, and the cryptocurrencies supported. We also considered ease of use, standout features, and security solutions. Plus, we looked at customer support and the functionality of their mobile applications. On Nov. 16, 2022, the lending unit of cryptocurrency investment bank Genesis Global Trading suspended redemptions and new loans due tothe collapse of FTX on Nov. 16. Following the news, crypto exchange Gemini announced delays in withdrawals from its Earn product, in which Genesis is a lending partner. Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed. Pros & Cons Pros Intuitive application interface Stored cryptocurrency can earn interest Insurance available for the Gemini Wallet Cons Only available to users in about 60 countries High fees Fewer trading pairs supported Pros & Cons Pros Supports investors located in over 100 countries Cash balances are FDIC-insured up to $250,000 User-friendly interface designed for beginners Cons Complex fee structure Limited charting features in the regular version Fewer customer service options than Gemini Gemini vs. Coinbase Gemini vs. Coinbase At a Glance Features Supported Currencies Security Fees Ease of Use Final Verdict FAQs Methodology Both platforms are suitable for beginner users, with straightforward user interfaces (UI), user-friendly mobile apps, and simple trading options. You’ll also get a digital hot wallet with Gemini and Coinbase and a nice selection of informational resources. But, each exchange offers some unique features. Gemini features consist of: On Coinbase, beginner investors appreciate features, such as: Gemini and Coinbase accept fiat currencies. Gemini supports seven types: USD, AUD, CAD, EUR, GBP, SGD, and HKD, while Coinbase supports three: USD, GBP, and EUR. However, Coinbase offers many more altcoins than Gemini does. For instance, you can’t purchase Dash, EOS, Cardano (ADA), and Ethereum Classic (ETC) on Gemini. Both platforms support popular currencies, including: Gemini and Coinbase are always adding new cryptocurrency options, so the number of supported currencies can vary. Coinbase supports people residing in over 100 countries, whereas Gemini traders are limited to about 60 countries. The range of options for fiat currencies and international locations still puts both platforms in line with the best crypto exchanges. These popular exchanges adhere to the highest safety measures and U.S. regulations, making them a favorite for investors. J.P. Morgan backs both platforms, and Coinbase made its stock available on the NASDAQ in 2021 via a direct listing. Moreover, all USD balances on Gemini and Coinbase are covered by the Federal Deposit Insurance Corporation (FDIC) insurance on balances up to $250,000 per individual. With Gemini and Coinbase, you’ll also get a two-factor authentication (2FA) process via short message service (SMS), or you can use the Authy app on Gemini or the Google Authenticator app on Coinbase. Plus, Coinbase says it keeps 98% of customer funds in cold storage, meaning it’s kept offline in safe deposit boxes or vaults. Gemini holds the majority of the crypto is held in an offline, air-gapped cold storage system. Additionally, Gemini provides security options for institutional traders, such as defined user access role permissions for trading cryptocurrency or accessing the account. You can also look at devices that use your account or that are logged into it. Furthermore, you can set up address whitelisting involving a seven-day hold process, after which you can only use specific addresses for withdrawal. Gemini also insures the Gemini Wallet from security breaches or fraudulent actions. Coinbase insures users' funds as well. However, the insurance doesn't cover unauthorized access to your personal account, only breaches of Coinbase and its systems. Coinbase and Gemini charge higher fees than other popular exchange platforms. Coinbase now has a maker-taker fee structure on both the regular platform and Coinbase Pro. Previously only Coinbase Pro used this structure. For most trades you'll pay 0.50%, but as trade size increases fees decrease. Different funding methods also incur fees with debit and credit cards costing more than ACH. Gemini has a complex fee structure, especially on smaller trades. Trades under $200 incur small flat fees in various amounts. Trades above $200 incur a very steep 1.49% fee. However, you can get lower fees by using the Gemini ActiveTrader plan, which uses a maker-taker model with lower fees than Coinbase's maker-taker fee schedule. If you consistently pay via wire transfer, you can save quite a bit on Gemini since it doesn’t charge fees for wire transfers, whereas Coinbase does. Gemini API users may also have lower costs than web- or app-based users. Coinbase and Gemini feature user-friendly web browsers and mobile application interfaces, a simple signup and trading process, and convenient educational tools. The mobile apps provide an experience similar to web browsers and receive favorable third-party customer reviews. Gemini provides a robust, frequently asked questions (FAQ) knowledge base and several webinars. However, it recently launched an education platform, Cryptopedia, which includes cryptocurrency trading articles on currencies, security, trading, investing, and decentralized finance (DeFi). The Gemini exchange provides customer service via email or a web request, plus the company says it monitors social channels, such as X (formerly Twitter), Facebook, Reddit, LinkedIn, and Instagram. Users can also chat online or reach Gemini on the telephone 24/7. Similar to Gemini, Coinbase provides a comprehensive knowledge database, including a section of articles for beginners, tips and tutorials, and market updates. Users can earn crypto by watching educational videos. Unlike Gemini, Coinbase doesn’t offer phone-based customer service or monitoring of social channels. There is a chat button as well as a contact form. The phone number is only for fraud and account-locking situations, not general service. Both Gemini and Coinbase are well-rounded platforms that cater to investors of all types, including beginners. However, Coinbase offers more available cryptocurrencies and locations than Gemini. Therefore, if you're looking for a greater amount of supported cryptocurrencies, or you are investing from a country where Gemini is not available, Coinbase is likely your best option. Gemini and Coinbase are crypto exchange platforms allowing traders to buy, sell, and trade various altcoins online. Both are U.S.-regulated exchanges, meaning they comply with anti-money laundering and know-your-customer (KYC) initiatives. People who want to start investing in cryptocurrencies use simple tools like the Gemini and Coinbase exchanges to get started and learn the tricks of trading. Although each platform is straightforward to use, complete newbies may prefer Coinbase’s streamlined view. Coinbase and Gemini are cryptocurrency exchanges that serve as online brokerages for consumer investors. New users sign up for an account, verify their email address, connect a payment method and, in accordance with U.S. rules, verify their identity and address. With Gemini and Coinbase, you can buy altcoin and then store it until you want to withdraw funds to your digital wallet. You also have the option to trade some currencies for others, called trading pairs. In many common cases, your trade will be cheaper at Coinbase paying the 0.50% maker-taker fee vs. the 1.49% Gemini charges on trades over $200. However, if you use a credit card to pay for your crypto, you’ll pay 3.99% on Coinbase and 3.49% on Gemini. Moreover, Gemini doesn’t charge for wire transfers, whereas Coinbase charges $10 per deposit. If you opt for Gemini ActiveTrader, you’ll pay maker-taker fees that are lower than Coinbase for common trade sizes. However, at some larger trade sizes, the trend may flip. Beginners will be comfortable using Gemini and Coinbase, as both are secure and user-friendly. However, Gemini also offers features for institutional investors, allowing fund managers to track device use and access permissions. Plus, access to customer service is much easier on the Gemini exchange. However, new users may prefer the quicker onboarding process of the Coinbase platform, including earning crypto while learning about trading. The Coinbase exchange looks and feels slightly more accessible than Gemini. We compared Gemini versus Coinbase by looking at shared attributes and differences in customer service options, security levels, and supported countries. Moreover, we considered the variety of cryptocurrencies available to trade, fiat currencies accepted, and deposit and withdrawal methods. We reviewed standout features, self-help guidance, and the popularity and ease of use of mobile applications to narrow down our options. Article Sources Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. CoinDesk. "Genesis’ Crypto-Lending Unit Is Halting Customer Withdrawals in Wake of FTX Collapse." Gemini. "User Agreement: FDIC Insurance." Coinbase. "Legal." Coinbase. "Limits and Accounts Levels." Gemini. "Gemini Earn." U.S. Securities and Exchange Commission. "Coinbase Global Inc, Form S-1 Registration Statement." Related Terms Uphold: What it Means, How it Works, Pros and Cons Uphold is a popular cloud-based platform for holding and exchanging various assets, such as fiat currencies, cryptocurrencies, and precious metals. more What Is a Bitcoin Exchange? How It Works, Fees, and Example A Bitcoin exchange is a digital marketplace where traders can buy and sell Bitcoins using different fiat currencies or altcoins. more What Was FTX? An Overview of the Exchange FTX was the third-largest centralized cryptocurrency exchange. Its founder now faces a lengthy prison sentence for contributing to its bankruptcy. more GDAX: What It Was, Rebranding As Coinbase Pro GDAX was the former name of a digital currency exchange linked to Coinbase. It changed its name to Coinbase Pro in 2018, and then to Coinbase Advanced Trade in 2022. more What Is Coinme? Coinme is a digital currency exchange and mobile app that allows you to buy and sell cryptocurrency through ATM kiosks and MoneyGram locations. more Binance Exchange Binance is a cryptocurreny exchange that offers additional blockchain-specific services. moreGemini
Coinbase
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At a Glance
Crypto Exchange Platforms Gemini Coinbase Main platform features Beginner-friendly and secure interface, multiple buying and selling options, and ability to earn interest on stored crypto User-friendly platform designed for beginners, supports withdrawal to PayPal, and ways to earn crypto Fees Fixed fee for trades under $200 or 1.49% for trades over $200, 3.49% debit or credit card purchase 0.50% per trade, 3.99% for credit card purchases, and 1.49% for Coinbase wallet or bank account purchases Number of cryptocurrencies supported 70+ 200+ Security features Two-step verification, FDIC-insured USD balances up to $250,000, Gemini Wallet digital insurance, U2F security with a hardware key, and cold storage Two-step verification, FDIC-insured USD balances up to $250,000, cold storage, AES-256 digital wallet encryption, multi-signature wallets, and cold storage Types of transactions supported Buy, sell, trade, deposit, and withdraw Buy, sell, exchange, send, withdraw, and receive Maximum transfer amount $5,000 daily and $30,000 a month for deposits and $100,000 daily for withdrawals via ACH. $1,000 daily for debit card purchases. $25,000 via ACH daily Gemini vs. Coinbase: Features
Gemini vs. Coinbase: Supported Currencies
Gemini vs. Coinbase: Security
Gemini vs. Coinbase: Fees
Fees Gemini Coinbase Bank account 1.49% 1.49% Wallet 1.49% 1.49% Debit/credit cards 3.49% 3.99% ACH transfer Free Free Wire transfer Free $10 deposit, $25 withdrawal Crypto conversion 1.49% 0.50% Trades Fee of $0.99 to $2.99 based on the amount or 1.49% for trades over $200 Maker-taker fees normally 0.50% Gemini vs. Coinbase: Ease of Use
Final Verdict
Frequently Asked Questions
What Are Gemini and Coinbase?
How Do Gemini and Coinbase Work?
Is Gemini Cheaper Than Coinbase?
Who Should Use Gemini or Coinbase?
Methodology
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FAQs
Gemini vs. Coinbase: Which Should You Choose? ›
Coinbase vs
The Gemini crypto app reviews are excellent. If you want to buy and sell digital currency from your smartphone or tablet, Gemini has a user-friendly mobile app. It's available on the Apple App Store and Google Play, and it has high ratings on both.
What is a better option than Coinbase? ›eToro – Overall Best Coinbase Alternative With Transparent Fees And Smart Portfolios. Founded in 2007, eToro has become a leading trading platform for crypto, with over 30 million customers in over 100 countries. It is beginner-friendly, caters to experienced investors, and is currently the best alternative to Coinbase ...
Is Coinbase the best option? ›Final take. Coinbase and Crypto.com are both excellent cryptocurrency exchanges with services that will suit different types of customers. Coinbase charges higher fees, particularly on smaller trades. But its wealth of information and extremely easy-to-use trading platform may work well for first-time crypto investors.
Is Gemini worth investing in? ›With industry-leading security features, its own hot wallet, and a comprehensive support center, Gemini is worth considering if you're interested in crypto investing or trading. Unlike traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp.
Why use Gemini over Coinbase? ›Gemini provides features that support institutional investors, while Coinbase lets you earn crypto while learning about trading. Beginners will feel comfortable using either platform. However, Coinbase has a slight edge, as it's available in more countries and offers more currency types.
Is Gemini safer than Coinbase? ›Coinbase is the best exchange overall and a fantastic choice for beginner investors. Gemini is a better choice for more experienced crypto investors. Many users lost money in the Gemini Earn scandal. However, it's important to note that Gemini backs all customer assets 1-1 and strictly follows regulatory guidelines.
Is there a downside to Coinbase? ›High fees compared to competitors: Many reviewers believe that Coinbase charges relatively high fees when compared to other platforms in the industry. Users express dissatisfaction with these fees, especially considering that they are imposed on top of the fees already charged by crypto networks.
Who is Coinbase's biggest competitor? ›- Quick Look: The 10 Best Coinbase Alternatives.
- Kraken.
- Gemini.
- Binance.
- Robinhood.
- Crypto.com.
- iTrustCapital.
- eToro.
- Best for Low Fees and Best for Experienced Traders: Kraken.
- Best for Beginners: Coinbase.
- Best Mobile App: Crypto.com.
- Best For Security: Gemini.
- Best for Altcoins: BitMart.
- Best for Bitcoin: Cash App.
- Best Decentralized Exchange: Bisq.
Should I get out of Coinbase? ›
Coinbase has excellent security measures to ensure its users' funds are safe. However, we recommend moving your crypto assets off any exchange into a self-custodial hardware wallet. For new users looking to make simple buy and sell orders, the original Coinbase platform is likely the best option.
Should you still use Coinbase? ›Coinbase is considered one of the top cryptocurrency exchanges in the U.S. The interface for Coinbase basic service is quick and user-friendly, but it also has a handful of features that might appeal to more seasoned users.
Should I keep my money in Coinbase? ›Coinbase is generally considered to be a safe and reliable platform for storing and trading cryptocurrencies, and the company takes a variety of steps to protect user funds. However, as with any financial institution, there is always a risk of loss or theft.
What is the downside of a Gemini? ›1. Restlessness: Geminis can become easily bored and restless, leading to a constant need for change. 2. Indecisiveness: Their dual nature can lead to indecisiveness, making it difficult to make important choices.
Can I trust Gemini? ›Gemini is one of the safest exchanges to do business. Gemini is subject to the security, capital reserve and banking compliance requirements of its regulator. Therefore, traders with Gemini can afford to sleep with both eyes closed, knowing their monies are safe.
Is Gemini coin risky? ›Gemini prioritizes asset protection, and as such, we employ a robust approach to ensure the safety of assets while being staked. Firstly, we do not send customers' crypto to any third party.
Is it safe to keep crypto on Gemini? ›Gemini Custody provides a solution to store your crypto in a regulated, secure, and compliant manner with our secured offline storage systems.
Is Gemini safe to keep crypto? ›We've built a rules-based marketplace with security at its core, so that our customers can focus on building their crypto portfolio. Our team is ready to help should you encounter fraud or abuse.
Is Gemini crypto exchange in trouble? ›Against the backdrop of an escalating and public dispute between the leadership of the two firms, Gemini Earn was shuttered on Jan. 10, 2023. Two days later, the SEC filed charges against both companies. That same month, Genesis filed for bankruptcy.
Is Gemini a safe crypto wallet? ›High Security Storage
Storing your assets on Gemini ensures that your assets are covered with industry-leading protections.