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Gemini and Binance.US are both cryptocurrency exchanges focusing primarily on providing services from basic trading services to staking and earning. Find out which exchange wins in a competition between Binance.US and Gemini.
Round 1: Binance.US vs. Gemini vs. on vital statistics
Both Gemini and Binance.US have built easy-to-use, reliable and secure cryptocurrency exchanges. That said, from a vital statistics perspective, Gemini has a slight edge over Binance.US as Gemini allows users to earn cryptocurrency through lending directly on the platform.
The number of coins that Binance.US and Gemini have on their platform is comparable. The only thing that sets Gemini apart from Binance.US is that it allows the trading of XRP, which is a top 10 cryptocurrency that may appeal to crypto beginners.
Since Gemini operates internationally and Binance.US is operational exclusively in the United States, Gemini offers more fiat currencies than Binance.US. The only fiat currency offered by Binance.US is the USD. Gemini offers the ability to withdraw and deposit USD, CAD, AUD, GBP and several more.
Gemini has a more complicated fee structure than Binance.US. It has flat rates for amounts below a USD threshold and charges a percentage of the trade amount for amounts above the threshold. On the other hand, Binance.US allows its users to pay fees with BNB and receive a 50% discount.
Although Gemini has a mobile application to access its systems, it doesn’t have a proprietary non-custodial wallet. Compare this with Binance.US, which builds and maintains a popular non-custodial wallet that can be used to store cryptocurrencies and access dApps on the Binance blockchain.
Winner: Binance.US
Round 6: Ease of use
Gemini is a much larger platform than Binance.US as it incorporates a lot of features for traders at all levels. Binance.US is a slimmed-down version of Binance and has only implemented the essential features such as trading and earning. Both platforms are well designed from a UI/UX perspective, but Binance.US has a slight edge due to its minimalistic approach.
Winner: Binance.US
Round 7: Security
Although Binance.US has never been hacked, its parent company has been. While Binance immediately reimbursed the affected users, Gemini has never been hacked and touts one of the largest insurance funds in the world. In this sense, Gemini has a better track record and demonstrates that it’s prepared to respond to an untimely hack.
Winner: Gemini
Gemini vs. Binance.US winner: Gemini
The comparison between Gemini and Binance.US is close, but Gemini won four of the seven rounds. From a beginner’s perspective, Gemini might be the better choice because of its dedication to security and well-roundedness concerning fees, features and cryptocurrencies it offers.
Although it may not be as easy to use as Binance.US, the flexibility of its platform makes up for any shortcomings. Gemini’s lack of hacks and sizeable insurance fund gives crypto beginners a level of comfort that Binance.US simply does not have.
Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Keegan Francis was a cryptocurrency writer for Finder. He has been invested in cryptocurrencies since 2013 and writing about them since 2018. He has written and edited for CryptoVantage. In 2020 he and his wife Mrugakshee Palwe opted entirely out of the world of traditional finance and went "full crypto", covering their experience in the Go Full Crypto podcast and via a Substack newsletter. Keegan holds a Bachelor of Computer Science from Acadia University, and has attained graduate certificates from Ivan On Tech's lightning network course and the Consensys Academy Ethereum bootcamp. When Keegan is not working on cryptocurrency, he enjoys travelling, rock climbing and playing piano. See full bio
Kraken is one of the best exchanges for advanced traders, offering a wide range of useful features and gaining many positive user reviews.
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