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Gemini vs Coinbase
We compare these two well known cryptocurrency exchanges to find out how they stack up.
Gemini and Coinbase are reputable exchanges that have set heavy precedents on anti-money laundering, consumer protection and cybersecurity requirements.
Coinbase earned its position as one of the most popular exchanges in the world through its friendly and easy-to-follow user interface. Its continued presence in the US means that it is one of the most heavily regulated exchanges and is available in over 100 countries.
Gemini’s licence to operate under strict laws in the US state of New York also shows it sits at the forefront of regulation. Built for beginners, Gemini is an attractive option for new investors and its accompanying mobile application means the exchange is one of the best while “on the go”.
At a glance: Gemini vs Coinbase
Compare Gemini and Coinbase on features like staking, coins, fees and security.
- Fiat-to-crypto exchange: Buy cryptocurrencies with deposited fiat.
- API Keys: Gemini can connect with third-party applications for portfolio tracking, etc.
- Gemini Earn: Cryptocurrencies stored with Gemini can earn up to 7.4% APY.
- Gemini Pay: Users can spend cryptocurrency holdings at more than 30,000 retailers without incurring any transaction fees.
- Gemini Wallet: Store cryptocurrency in Gemini’s insured hot wallet or institutional grade cold wallet system.
- ActiveTrader platform: High-performance trading platform for a professional-level experience.
- Gemini mobile app: Place trades on the go and incorporate dynamic price alerts.
- Instant buy: Buy cryptocurrency instantly with a card.
- Recurring buy: Automate regular cryptocurrency purchases.
- Staking: Earn interest on your funds.
- Coinbase Earn: Get paid for learning about cryptocurrency.
- Coinbase Wallet: Transfer funds to your own cryptocurrency wallet for spending.
- CoinbasePro: An advanced trading platform for experienced crypto traders.
Supported cryptocurrencies and fiat
- Supported fiat currencies: USD, SGD, HKD, GBP, EUR, CAD, AUD, COP
- Supported cryptocurrencies: Approximately 63 cryptocurrencies
- Supported fiat currencies: USD, EUR, GBP, CAD, MXN, HRK, CZK, DKK, CLP, BGN & 10+ more
- Supported cryptocurrencies: Approximately 75 cryptocurrencies
*Availability varies by location
Fees on Gemini vary depending on the platform being used to trade. The website and mobile app are the two most commonly used interfaces.
Orders placed via the website and mobile apps incur both a convenience fee and transaction fee.
Transaction fees start from $0.99 for a transaction less than $10. The additional convenience fee is 0.5% of the current market price of the coin.
Debit card purchases incur a 3.49% charge.
Withdrawal fees vary depending on fiat and cryptocurrency.
Fees vary and depend on the order type.
The average fee for buy/sell transactions is 0.5%, but this can increase depending on your payment method and where you are located.
Purchases of between $1 and $200 are also charged a flat fee of between US$0.99 and US$2.99.
Be prepared to pay up to 4% for purchases made with a debit or credit card.
Crypto-to-crypto transactions are charged at 2%.
- Bank transfer
- Debit or credit card
- Bank transfer
- Debit or credit card
*Available methods depend on the fiat currency and/or country
According to CoinGecko, at the time of writing, Coinbase is the 7th largest exchange in the world by daily trade volume. Gemini currently ranks 57th. By trust scores, they rank 2nd and 7th respectively.
The 24-hour trading volume on the Coinbase exchange is $10 billion. Liquidity for all markets on the platform will be high, which should mean that transactions are processed with little slippage in price.
The 24-hour trading volume on Gemini is $500 million. Although much less than Coinbase, the exchange hosts far fewer cryptocurrency pairs and does not operate in as many countries. Users may want to check the daily trading volume for the coin pairing that they wish to exchange to see if Gemini ranks as one of the most liquid markets.
Gemini and Coinbase have high levels of security for buying and storing cryptocurrency assets.
Both exchanges implement two-factor authentication which is an industry best practice for account access and withdrawal confirmations. This requires a time-sensitive six-digit code to be entered before access is granted. Gemini also supports hardware security keys which can be used as another layer of protection to an account.
Cryptocurrency addresses can be whitelisted on both exchanges to prevent unauthorised withdrawal requests. Funds can only be withdrawn to personal wallet addresses, which prevents unauthorised users from depositing cryptocurrency assets into a wallet of their choosing. Whitelisted addresses go through a 7-day approval process.
The Gemini and Coinbase exchanges store the majority of cryptocurrency assets offline in cold storage systems. These are systems not accessible via the Internet, which means cyber-attackers can never gain access. On Gemini, the remaining cryptocurrency assets left on your hot wallet are insured. Alternatively, Coinbase offers FDIC insurance for US dollar deposits up to $250,000. Both services provide users with a truly “peace of mind” experience when initially stepping into the world of crypto.
Gemini and Coinbase are two of the most regulated cryptocurrency exchanges in the world. They are the only two exchanges to be offered a licence to operate in the US state of New York, which is one of the hardest to obtain.
Gemini is a New York Trust company, whilst Coinbase is a member of the US bureau FinCen. Both exchanges are fully compliant with financial services and consumer protection laws.
Gemini is the first cryptocurrency exchange to complete SOC 1 Type 2 and SOC 2 Type 2 exams, which assess financial operations, reporting controls, security, availability and confidentiality controls.
Verdict: Should you use Gemini or Coinbase?
Gemini is a good option for investors looking for a reliable exchange. Its undeniable regulation record and history mean that it not only follows regulations but is often leading and designing them. With a friendly user interface, the ability to upgrade to an advanced platform and innovative features such as Gemini Pay and Gemini Earn, the exchange platform is extremely versatile.
Due to the regulation, the exchange does not host as many cryptocurrencies as competitors and it has high trading fees. For more frequent cryptocurrency traders, there are likely better platforms out there.
Coinbase has become one of the world’s most used cryptocurrency exchanges. Its interface is one of the easiest to use, which makes the likelihood of mistakes small, whilst the Coinbase Earn program offers new cryptocurrency investors a place to learn all about the cryptocurrency sector.
The high daily trade volume means that every market on the platform is highly liquid. Security is on par with Gemini, and with the addition of more cryptocurrencies and a broader level of jurisdiction, it’s easy to see why Coinbase has been widely adopted as the “flagship” crypto exchange.
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