Coinbase vs. Gemini: Which Crypto Exchange is Better for You?

Coinbase and Gemini are among the popular exchanges for trading crypto assets. In this comparative guide, we will take a look at the features of the two and explore their differences.

Coinbase Explored

Since launching in 2012, US-based Coinbase has positioned itself as a crypto exchange ideal for beginners. The company has a presence in more than 110 countries. With Coinbase, you can buy over 115 cryptocurrencies using a wide range of payment methods, including bank transfers, debit/credit cards, and PayPal, among others.

Pros and Cons of Coinbase

Pros

• Coinbase is a regulatory-compliant exchange, thus gaining the trust of traditional investors.
• It has high liquidity, making it easy for traders to open and close positions.
• The exchange adopts sophisticated security measures to protect user funds.
• Has a user-friendly interface that allows newbies to navigate the crypto world easily.
• Provides access to a wide range of educational materials.

Cons

• Coinbase pricing structure is unclear.
• Trading fees are considerably high.
• Customers experience occasional delays when they want help.

Gemini Explored

Established in 2014, Gemini is a top regulated crypto exchange created by Cameron and Tyler Winklevoss. It has a presence in over 60 countries, including the United States. Through Gemini, you can trade more than 70 cryptocurrencies.

Pros and Cons of Gemini

Pros

• Adopts top-tier security protocols to protect user data and funds.
• Gemini has high liquidity, which facilitates seamless trading.
• Has a transparent fee structure.
• The exchange is highly regulated.

Cons

• Gemini supports limited payment methods.
• Compared to its competitors, Gemini lists fewer cryptocurrencies.
• The exchange has a lengthy sign-up process.
• It offers a limited access to educational resources.

Coinbase vs. Gemini: Ultimate Comparison

User Interface

Coinbase mobile and desktop apps offer intuitive user interfaces, which are ideal for newbies. The simple interfaces allow users to buy or sell cryptocurrencies with ease. On the other hand, Gemini’s desktop app can be confusing for beginners due to its hard-to-understand interface. However, the exchange’s mobile app is easy for beginners to use.

Mobile Apps

We now know that both Coinbase and Gemini have mobile apps. But which operating systems do they run on? The two mobile apps are supported by both Android and iOS systems, thus boosting their accessibility.

Supported Cryptocurrencies

As mentioned earlier, Coinbase supports more than 115 digital currencies, including the leading ones like BNB, ETH, and BTC. However, the exchange does not list altcoins with small market capitalizations.

By comparison, Gemini supports over 70 crypto assets, including those with high market caps like BTC, LTC, and ETH, and those with low market caps such as Skale, Filecoin, and Livepeer.

Security and Hacks

Both Coinbase and Gemini implement robust security measures to protect user crypto assets. For example, the two exchanges store user funds in cold wallets to block attackers from accessing them. Moreover, they adopt two-factor authentication, adding an extra layer of protection.

It is worth mentioning that Coinbase and Gemini have never suffered exploits, leading to loss of client funds.

Educational Rewards

Coinbase runs a learn-to-earn program that incentivizes users to take a crypto course. Learners can earn up to $10 worth of Bitcoin. Gemini, on the other hand, does not offer such a program. Instead, the exchange provides access to research reports like the US Cryptocurrency Report.

Fiat Currency Support

With Gemini, you can fund your trading account using eight fiat currencies, including the United States dollar, the British pound, the Canadian dollar, and others. Coinbase, on the other hand, supports over 50 fiat currencies.

Access

Both Coinbase and Gemini have desktop and mobile apps. This makes the exchanges easy to access. So whether you like trading on your computer or smartphone, the two platforms have got you covered.

Customer Support

Although Coinbase occasionally fails to respond to customer complaints on time, it has a better response rate than Gemini, which takes up to 48 hours to get back to the customers.

Conclusion

The decision to trade on Coinbase or Gemini entirely depends on your preferences. For instance, if you want to trade more crypto assets, then Coinbase is your ideal choice.