When it comes to cryptocurrency trading, U.S. citizens and residents have many reputable options to choose from, including Gemini or Coinbase. They both provide many advantages, such as safety, learning resources, and returns on cryptocurrency investments.
Due to the similarities between these interactions, making a decision can be difficult. Our comparison of Gemini and Coinbase will show how they compare in the most important categories, helping you make an informed decision about which one is best for you.
Fees between Gemini and Coinbase
There is a slight variation between Gemini and Coinbase in terms of transaction costs; otherwise, both exchanges charge roughly the same rates. Trading fees on Gemini will be 0.40% less than, and on Coinbase, they will be 0.60% less than if you use their most cost-effective trading features.
One of the most notable features of these platforms is discussed before analyzing the costs of trading on them. The fees associated with using either Gemini or Coinbase’s trading platforms vary. The markets include a default, more basic choice and a more advanced, fee-free alternative.
Gemini vs. Coinbase: Available cryptocurrencies
Both Coinbase and Gemini provide a wide variety of cryptocurrencies. However, Coinbase’s offering is slightly larger. Coinbase offers access to over 200 different cryptocurrencies, whereas Gemini includes access to over 90. However, if you want to know more about it, you can read this article to clarify more info.
There are several cryptocurrencies and significant currencies available on both exchanges. However, Gemini does not currently support all of the leading coins that can be purchased on Coinbase.
- Stellar (XLM)
- Cardano (ADA)
- Avalanche (AVAX)
Wallets: Gemini vs. Coinbase
There are some notable variations between the hot wallets provided by the two markets. A third party manages a custodial wallet, such as Gemini Wallet®. As a result, Gemini effectively controls any cryptocurrency reserves held there. Similarly, only Gemini Wallet® users can access the exchange’s funds.
Security: Gemini vs. Coinbase
If you’re looking for a safe place to trade cryptocurrencies, two of the most trusted platforms are Coinbase and Gemini. Both provide superior account security, secure storage options, and cutting-edge security features. Both of these markets offer a safe environment in which to buy, sell, and hold cryptocurrency.
Both companies claim to store most of their customers’ cryptocurrency reserves in “cold storage,” or offline wallets. According to Coinbase, more than 98% of deposits are kept offline. Cold storage is more secure because it can’t be hacked. Both have insurance policies that protect customer funds up to a specified amount (in this case, $250,000) and FDIC protection for cash deposits in case of a bank failure (in this case, also $250,000).
Final words
There is no better option than Gemini or Coinbase. Both are highly regarded for a good reason: they facilitate crypto trading on transparent and safe platforms.
Coinbase offers a wider variety of cryptocurrencies when comparing the two. If you want to buy and sell a wide variety of coins, Coinbase is perhaps the best option.
If you utilize Gemini ActiveTrader, you can reduce your trading costs by using Gemini. There isn’t a significant distinction in fees between the two markets, but over a year, your bitcoin investment could lose out to the market by as much as 1%.
