Gemini vs Coinbase | The Best Crypto Exchange For 2024

As crypto trading stands at the heart of the industry, platforms like Gemini and Coinbase facilitate a greater adoption through centralized exchanges that abide by strict US regulations. Although the crypto exchanges are pretty similar, offering web and mobile apps for crypto holdings, there are some differences, but we’ll delve into that later in the article.

From beginners who could use Coinbase’s learning hub to seasoned investors who could use the advanced options, such as the Coinbase Pro or Gemini’s ActiveTrader program, both popular crypto exchanges cater best to different needs.

As a result, we reviewed Gemini vs Coinbase, analyzing aspects like the supported currencies and countries, transactional fees, security and regulations, and customer support so that you could make an informed decision and boost your potential gains.

So, let’s jump in!

Gemini vs Coinbase at a Glance 

What is The Gemini Crypto Exchange?

With over 13 million active users in 2023, Gemini is one of the most well-known cryptocurrency exchanges on the market and a custody provider for digital assets, such as NFTs. As a result, professional traders can enjoy multiple trading tools and buy, sell, stake, and trade different digital currencies through crypto or fiat currencies.

The exchange was founded in 2014 by the Winklevoss twins Cameron and Tyler and registered with the New York State Department of Financial Services (NYSDFS); it also has its headquarters in New York City.

Gemini can be considered amongst the best cryptocurrency exchanges, and as of 2022, Gemini is available in more than 60 countries, including the US, UK, and Canada. However, good things always come to an end, so in January 2023, Genesis Global Capital filed for Chapter 11 bankruptcy. The US Securities and Exchange Commission sanctioned it due to illegally raising funds via the Gemini Earn program, which, as of 2024, is closed.

Gemini Features

• Beginner-friendly platform with clean and straightforward design;
• Advanced security features;
• Buy, sell, and trade crypto options available;
• Institutional investors’ products: exchange, custody, eOTC, staking;
• Earn interest on stored crypto funds with the Gemini Earn program;
• Gemini Pay;
• Mobile application;
• Crypto digital wallet;
• Third-party integrations;
• Gemini Pay through your Gemini account and with stored cryptocurrency;

What is The Coinbase Crypto Exchange?

Founded in 2012 by its current CEO Brian Armstrong and Fred Ehrsam, Coinbase is one of the most well-known crypto exchanges that offers its users a seamless way to sell, buy, or store cryptocurrencies. Since April 2021, Coinbase has become publicly traded on the Nasdaq exchange through direct stock listing and, in 2022, started supporting NFTs.

With over 55 million active users in 2023, Coinbase is available in over 100 countries and supports thousands of Ethereum, Solana, and all EVM-compatible networks besides Bitcoin, Dogecoin, and Litecoin. However, since February 2023, Coinbase Wallet discontinued the support for BCH, ETC, XLM, and XRP due to low usage, but it introduced SUI and MAGIC.

Over the years, Coinbase evolved and became the 2nd largest crypto exchange by trading volume while upgrading its platform for a seamless trading experience for both beginner and advanced traders and institutional traders.

Additionally, Coinbase developed multiple tools, such as the Coinbase Wallet, Coinbase Pro, previously known as the Coinbase Advanced Trade, Coinbase Visa Card, and Base, an Ethereum Layer-2 network.

Coinbase Pro is an extension of Coinbase that allows its users to buy and sell digital assets from each other, opening its doors to every eligible asset to list on its platform. It recently launched the Coinbase Asset Hub, which allows token issuers to issue their assets directly with very little involvement of the exchange itself.

A downside of such a praised crypto exchange is its high Coinbase fees, but given its security measures, we might say it is quid pro quo.

Coinbase Features

• Beginner-friendly platform;
• PayPal withdrawal supported;
• Opportunities to earn passive crypto rewards;
• Learning hub;
• Native NFT marketplace;
• Top-notch security measures;
• Crypto digital wallet;
• Crypto watchlist;
• Crypto newsfeed;

Gemini vs Coinbase | 2024 Available Cryptocurrencies

It is well known that both crypto exchanges support fiat currencies, such as USD, AUD, CAD, EUR, GBP, SGD, and HKD on Gemini and Coinbase with USD, GBP, and EUR. Moreover, Coinbase supports multiple cryptos, altcoins, and trading pairs, compared to Gemini exchange, which doesn’t support Dash, EOS, Cardano, and Ethereum Classic.

Popular cryptocurrencies available on both Gemini and Coinbase:

• Ethereum (ETH);
• Aave (AAVE);
• Litecoin (LTC);
• Dai (DAI);
• Bitcoin Cash (BCH);
• Chainlink (LINK);
• Uniswap (UNI);

As a result, the number of supported cryptocurrencies might vary for these crypto exchanges based on their availability on the global market. Since Coinbase is available in over 100 countries, compared to Gemini, which can only be found in 60 countries, they align with the best crypto exchange criteria.

Gemini vs Coinbase | Transaction Fee, Deposits and Withdrawals

Both Coinbase and Gemini offer higher fees, yet there are significant differences between the crypto trading platforms. For Gemini, the maximum transfer amount is $5,000 daily and $30,000 monthly for deposits, $100,000 daily for withdrawals via ACH or wire transfers, and $1,000 daily for debit card purchases. For Coinbase, the maximum transfer amount is $25,000 daily via ACH.

Gemini 30-Day USD Trading Volume

However, the Gemini platform has complex fee structures, whereby trades above $200 have a 1.49% fee. Still, you can lower it using the Gemini ActiveTrader plan, which uses a maker-taker model. Conversely, you could consider a wire transfer, which doesn’t seem to be charged.

• 0: Taker 0.40% & Maker 0.20%;
• ≥ $10,000: Taker0.30% & Maker 0.10%;
• ≥ $50,000: Taker0.25% & Maker 0.10%;
• ≥ $100,000: Taker0.20% & Maker 0.08%;
• ≥ $1,000,000: Taker0.15% & Maker 0.05%;
• ≥ $5,000,000: Taker0.10% & Maker 0.03%;
• ≥ $10,000,000: Taker0.08% & Maker 0.02%;
• ≥ $50,000,000: Taker0.05% & Maker 0.00%;
• Please be sure to check Gemini’s fee structure.

Coinbase Trading Fees

Coinbase moved towards a maker-taker fee structure for both Coinbase Pro and the regular platform, whereas most trades are charged a 0.50% fee. Yet, as the trade size increases, the fees decrease, which is considered a good deal. Also, there’s a difference for credit or debit card purchases, leading to higher costs than ACH.

• $0K-$10K: Taker60bps & Maker 40bps;
• $10K-$50K: Taker40bps & Maker 25bps;
• $50K-$100K: Taker 25bps & Maker 15bps;
• $100K-$1M: Taker 20bps & Maker 10bps;
• $1M-$15M: Taker 18bps & Maker 8bps;
• $15M-$75M: Taker16bps & Maker 6bps;
• $75M-$250M: Taker12bps & Maker 3bps;
• $250M-$400M: Taker8bps & Maker 0bps;
• $400M+: Taker5bps & Maker 0bps;

Coinbase Fiat Deposit and Withdrawal Fees

• Wire (USD) ACH: Deposit fee 10 USD & Withdrawalfee25 USD;
• SEPA (EUR) ACH: Deposit fee 0.15 EUR & Free withdrawal;
• Swift (GBP) AHC: Free deposit & Withdrawalfeeof 1 GBP;
• For more details on the fee structure, please read more on the official Coinbase website.

Gemini vs Coinbase | Available Countries

Gemini is available in 60+ countries from North America, South America, Europe, Asia, Oceania, and Africa. However, Coinbase seems to be more in line and supports over 100 countries, such as the United States, United Kingdom, Europe, Australia, and most countries across Asia, South America, and Africa.

Gemini vs Coinbase | Ease of Use

Gemini isn’t known just for security. It also has a simple user interface that even a beginner can easily navigate. The website has very scanty text without any unnecessary details that will confuse new users. This is why it can be ideal for both beginners and advanced users.

It is worth mentioning that Coinbase is just like Gemini in terms of its use. Its simplicity of design makes it an ideal destination for beginner traders, and it has maintained that reputation for years. Even if both have clean interfaces, Coinbase is a better option for a newbie, as the interface is easier to navigate than that of Gemini.

Gemini and Coinbase offer web browsers and mobile applications with clean, user-friendly interfaces within comprehensive ecosystems. Both crypto exchanges provide an easy way to trade crypto, from the signup process to using the learning hub until multiple deals are successfully closed.

Gemini vs Coinbase: Mobile Apps

When it comes to discussing mobile applications, both Coinbase and Gemini offer dedicated mobile applications for iOS and Android users. However, users advised that Coinbase boasts a better user interface, free crypto, and better support than Geminis’ mobile app, which offers a better deal of security along with lower fees.

Gemini vs Coinbase | Security & Regulation 

These crypto trading platforms implement some of the highest security and US regulation measures, such as the two-factor authentication (2FA) process via SMS and the use of third-party security and login apps like the Authy app on Gemini or the Google Authenticator app on the Coinbase platform.

On top of this, Coinbase advised that almost 98% of their customer funds are kept in cold storage, meaning they are stored offline, away from potential online threats, malware attacks, or any other online pitfalls. As for Gemini, they hold the vast majority of their customer’s crypto in an air-gapped cold storage system and offer FDIC insurance for cash balances.

Also, Gemini offers options for security-conscious investors, such as the user access role permissions or the safelisting addresses with a seven-day hold process. Coinbase, on the other hand, still offers insurance for user funds. However, it doesn’t cover unauthorized access to your Coinbase account.

As always, we cannot go any further without mentioning some of the most prominent events that shocked the industry. As a result, Gemini and Coinbase were implicated in unfortunate events like the SEC vs Coinbase lawsuit, where the crypto exchange made the trading of at least 13 crypto tokens that should have been registered as securities possible.

As for Gemini, it has been sued by the global lender Genesis Global due to ‘preferential transfers’ worth $689M.

As such, it is wise to research further any crypto exchanger, not only Gemini and Coinbase or Coinbase Pro, to ensure maximum security features and the misuse of your crypto holdings.

Gemini vs Coinbase: Customer Support

Besides offering comprehensive FAQs, knowledge base articles, and webinars, Gemini boasts of providing quality round-the-clock customer support through email, web, social media requests, and 24/7 telephone support.

Moreover, Gemini exchange launched its educational platform, Cryptopedia, to further educate its adopters about cryptocurrencies, security, trading, investing, and decentralized finance (DeFi).

Those using Coinbase know that the crypto exchange ensures a robust knowledge database that includes articles for beginner investors, tutorials, and relevant market updates to better educate users on managing their crypto assets. Additionally, Coinbase also offers crypto rewards for watching educational videos.

For the rest of the inquiries, Coinbase users must access the chat option or the contact form available on the platform, as the phone number is used in more emergencies like fraud or account-locking situations.

Gemini vs Coinbase: Customer Reviews

Gemini vs Coinbase: Verdict

Choosing between Gemini and Coinbase heavily depends on your motivation and priority for your digital assets. For example, fees may be one of the decisive factors for some, yet they both have their strengths and weaknesses, so you should go for the one that meets your priority needs.

From our perspective, Coinbase takes the lead as it supports multiple cryptocurrencies in more geographical locations than Gemini, and overall, the usability seems more increased for Coinbase.

Indeed, some unfortunate events could have left a mark on its reputation, yet these exchanges should better learn from their user’s requests instead of dipping their feet in too many pools and crashing miserably.

FAQ 

What Are Gemini and Coinbase? 

Gemini and Coinbase are among the most well-known crypto exchanges catering to individuals and institutional investors. Moreover, both platforms offer multiple learning opportunities for anyone who wishes to upskill their crypto trading knowledge.

How Do Gemini and Coinbase Work? 

Coinbase and Gemini offer multiple ways to top up your account. Yet, Coinbase is more extensive as it provides a way to purchase digital assets through a credit or debit card, compared to its rival, which only supports ACH or wire transfers.

Who Should Use Gemini or Coinbase? 

Beginners or more advanced traders can use both crypto exchanges. However, Coinbase is considered to be more user-friendly than Gemini, and its interface could be a bit overwhelming. Also, if you are a seasoned investor knowing the whereabouts, choose only what fits you best, depending on your selected currencies, country of residence, and fees.

Which One Is Better, Gemini or Coinbase?

Choosing between Gemini or Coinbase is a subjective choice that heavily depends on your needs and priorities. Both platforms have strengths and weaknesses, so you can look into their offerings, like mobile apps, transfer fees, available currencies, and countries, to make the best possible decision.

Is Coinbase Safer Than Gemini?

Both exchanges, Gemini and Coinbase, are considered highly secure platforms that integrate 2FA, the use of third-party security apps, and other measurements to keep their investors safe.

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