Gemini vs Coinbase: Ultimate Review & Comparison

If you're looking for a cryptocurrency exchange to use, then it is important to do your research and find out which is the best one for you. There are dozens of options available on the market now, but not all of them are created equal. In this article, I am going to compare Gemini vs COINBASE so that you can make an educated decision about which exchange to go with.

Gemini vs Coinbase: Ease of Use

Gemini was made with the user in mind. It's really easy to use and its interface is very beginner-friendly. They have a list of prices for buying and selling crypto, which removes all the extra unnecessary hassle!

Coinbase is also very simple to use, however it doesn't have the same level of polish as Gemini. The interface and layout are less intuitive than that of other exchanges and you may need a little more time getting used to all the features before feeling comfortable with Coinbase trading.

In addition to that, both, Coinbase and Gemini, offer a basic dashboard to track your trades and holdings. Making it simple to monitor your profits and portfolio.

Gemini vs Coinbase: Features

Both of these exchanges are beginner-friendly platforms with convenient (user interface) UI and simple trading options.

However, each exchange has different features that make them stand out.

Let's take a look at the list below:

Gemini features

• Gemini pay - Use your Gemini account to make purchases in cryptocurrency in more than 30,000 retailers online and offline.
• The Gemini Earn Program - Earn additional interest on holding certain cryptos. Stable coins like DAI offer annual interest ranging from 1% to 7.4%
• Third-party integrations - Connect various software tools to your Gemini account using public API key.
• Nifty Marketplace - Buy and sell unique digital art on Ethereum blockchain with the help of Gemini's Nifty marketplace.

Coinbase features

• Educational Program - Earn crypto and learn more about different cryptocurrencies by watching Coinbase's educational videos.
• Up-to-date News feed - Daily important news about cryptocurrency market.
• Proof-of-stake (POS) Network - Earn passive income by holding your crypto assets.
• Paypal Partnership - Withdraw funds from Gemini directly to your Paypal account.

Gemini vs Coinbase: Security

Security is always the top priority for novice and experienced traders.

Both exchanges have an excellent level of security, but they do differ in how their safety features are implemented.

Let's take a look at each of them below:

Gemini security features

• Hot Wallet Insurance - Gemini has insurance for their hot wallet so that if anything were to happen, they would be able to cover any losses.
• 2FA - For additional security, the platform also offers two-factor authentication via SMS or Google Authenticator.
• Whitelisted Adresses - This feature enables to withdraw the funds from an account to only pre-approved addresses. For pre approval it takes about 7 days for the address to be whitelisted.
• Device management - With Gemini you can monitor log in activites to your account and restrict the ones you do not recognize.

Coinbase security features

• 2FA - Protect the access to your account with two-factor authentication.
• FDIC Insurance - The company is regulated by NYSDFS (New York State Department of Financial Services) and operates in 40 states which makes them eligible for FDIC coverage up $250K per depositor - US banks are FDIC insured under federal law up to $250k per depositor.
• Cold storage and Crypto vaults - Coinbase is one of few platforms that stores 98% of all cryptocurrencies on their platform offline in cold wallets. These cold wallets are kept in safes and storage vaults in different geographical locations.

Coinbase also secures your stored coins in a cryptocurrency vault which requires approval from multiple users to withdraw funds. Any withdrawal request will be canceled within 24 hours if all approvals are not completed.

The mentioned features such as insurance or cold storage are something that not a lot of crypto exchanges can offer.

Therefore, making Coinbase a winner in this debate.

Gemini vs Coinbase: Supported Cryptocurrencies

Both exchanges offer a solid amount of cryptocurrencies to choose from.

However, some coins might be available on Coinbase and not on Gemini and vice versa.

There would be no doubt that both exchanges support some major cryptocurrencies like:

1. Bitcoin (BTC)
2. Ethereum (ETH)
3. Ripple (XRP)
4. Litecoin (LTC)
5. Cardano (ADA)

However, there might be a slight difference in altcoins selection.

For example, Coinbase offers some altcoins like Harvest Finance, Fetch.ai, Internet Computer, etc that are not available on the Gemini exchange.

Therefore, if you are mainly interested in buying major cryptocurrencies both options would be a perfect match for you. 

And if you want to dive deeper into the altcoin market then it is better to create an account on Coinbase.

Here is the list of all cryptocurrencies available on Gemini and Coinbase.

Gemini vs Coinbase: Fee Structure

The fees might be a decision-maker when it comes to choosing a suitable crypto exchange.

Depositing your funds to an account and then withdrawing way less than the desired amount definitely would not put a smile on your face.

Therefore, let’s take a look at each exchange’s fees and limits for you to make a more suitable decision.

Gemini fees

Gemini will charge you both for convenience and a transaction fee every time you sell or buy crypto. Fees stay the same whether you use Gemini’s site or mobile app.

The convenience fee is 0.5% of the Gemini market price for a trade, but it can change with the market. For example, if you buy 1 Bitcoin(BTC) for the price of $10,000, you’d actually pay $10,050 including Convenience Fee.

On top of the convenience fee, you’ll be charged a transaction fee depending on the amount you trade. For example, while trading Bitcoin for Litecoin fee is standard 1,49%.

Fees vary by the type of crypto you trade and ranges from a flat fee for less expensive orders to more costly transactions.

Transaction Amount FEELess than $10$0.99Between $10 and $25$1.49Between $25 and $50$1.99Between $50 and $200$2.99More than $2001.49%

Now let’s also address Deposit and Withdrawal Fees. 

If you use Wire transfer, ACH transfer, Gemini dollar, or any cryptocurrencies you will pay no fees at all, same goes for Withdrawal. However, if you use a Credit/Debit card deposit fee will be 3.49% of the total purchase amount.

Coinbase fees

Generally speaking, Coinbase is known for having higher fees compared to the other alternative exchanges.

First, let's take a look at the trading fees.

Total Traded Amount Fee$10 or less$0.99More than $10 and up to $25$1.49More than $25 and up to $50$1.99More than $50 and up to $200$2.99

However, on Coinbase Pro the fee structure is built differently.

The average fee rate starts from 0.50% and gets lower depending on the monthly trading volume you accumulate on your account.

The higher the trading volume, the lesser the trading fees.

On Coinbase Pro you will come across 2 types of fees: Maker fee and Taker fee.

• The maker fee is when you create an order (either buy or sell) and someone else completes it, therefore you pay no fees and get the amount paid. The person that completed your order pays the fee.
• The taker fee is when you complete someone else's order, in which case, you pay the fee.

Pricing Tier Taker Fee Maker Fee<$10k0.50%0.50%$10-50k0.35%0.35%$50-100k0.25%0.15%$100k-1M0.20%0.10%$1-10M0.18%0.08%$10-50M0.15%0.05%$50-100M0.10%0.00%$100-300M0.07%0.00%$300M-500M0.06%0.00%$500M-1B0.05%0.00%$1B+0.04%0.00%

Gemini vs Coinbase: Limits

Besides fees limits also play a very important role in displaying how flexible an exchange is.

There are several types of limits you might come across. 

Deposit/Withdrawal Limits

The most crucial limitations are for depositing and withdrawing certain amounts of currencies that I show in the table below:

Gemini exchange offers 10 complimentary withdrawals for cryptocurrency. It means that you can withdraw any amount of crypto 10 times without experiencing any limitations.

Unfortunately, Gemini does not allow users to withdraw funds to their Debit/Credit card.

 Deposit WithdrawalACH BANK TRANSFERDaily-$5,000

Monthly-$30,000Daily-$100,000DEBIT/CREDIT CARDDaily-$1,000Not availableWIRE TRANSFERNo limits Minimum-$100DIGITAL ASSETSNo limits10 complimentary withdrawals

On Coinbase Pro, if you want to deposit funds using ACH or Debit/Credit card the limit would be similar to your bank transfer limit. 

Withdrawal limits remain the same for every option.

 Deposit WithdrawalACH BANK TRANSFERSimilar to your Bank transfer limitDaily-$50,000DEBIT/CREDIT CARDSimilar to your Bank transfer limitDaily-$50,000WIRE TRANSFERNo limitDaily-$50,000DIGITAL ASSETSNo limitDaily-$50,000

Gemini vs Coinbase: Payment Methods

Now once you are aware of the Coinbase trading fees, let's advance to the payment fees.

Payment Method FeeUS Bank Account or Coinbase Wallet1.49%Debit/Credit card3.99%Instant card withdrawalUp to 0.5% (Minimum fee of 0.95$)ACH TransferFreeWire Transfer$10 (25$ If it's outgoing transfer)

Gemini vs Coinbase: Supported Countries

Different countries use and support different exchanges. That choice depends on the origin of exchanges, fees, regulations, etc.

I created a list of countries where platforms are both, available and supported.

First, let's look at Gemini.

Gemini is available in most major countries such as the U.S., Canada, UK, Brazil, Israel, Spain, and 60+ other countries.

Now let's review Coinbase too.

Unlike Gemini, Coinbase is available in the U.S, Canada, UK, and also an additional 100+ countries.

As you can see, Coinbase has a huge advantage in this comparison when it comes to availability and coverage area which can have a drastic impact on your trading experience.

Gemini CoinbaseU.S

Canada

UK

Spain

Belgium

India

Australia

Chile

and 42 more...Bahamas

Guatemala

Colombia

Czech Republic

Gibraltar

Monaco

Latvia

Korea

and  92 more...

Gemini vs Coinbase: (FAQ) Frequently Asked Questions

What Are Gemini and Coinbase?

Gemini and Coinbase are platforms of crypto exchange where you can buy, trade, and sell mostly all major cryptocurrencies. Those exchanges are regulated by the U.S which means that they obey anti-money laundering laws and make sure that their customers' activities are legal.

Which cryptocurrency exchange is best for beginners?

Both exchanges offer quite a lot of useful features to help beginners get started.

For example, Gemini is offering an educational platform, Cryptopedia, which is about cryptocurrency news, trading, investing, and a lot of practical stuff. 

The platform also offers customer service on the telephone, via email, and web requests 24/7.

In addition, their team also monitors Gemini’s social media accounts.

However, Coinbase has a section of articles for beginners with tips, tutorials, and market updates. 

You can earn crypto by watching the tutorials on Coinbase.

But they don’t provide as good customer service as Gemini does. 

They don’t have telephone service, web chat, or social media that is active 24/7. 

You can use email to contact them.

The decision is yours to make whether Gemini's helpful services are the same as Coinbase or not. 

However, getting help from real people is more helpful than just watching tutorials when you are just starting.

Is Gemini Cheaper Than Coinbase?

In most cases, Gemini seems to be cheaper than Coinbase. 

Both charge 0.50% fee on trade and 2.99$ for purchase of 100$ 

Also, if you use a credit card to buy altcoins, you pay 3.49% on Gemini and 3.99% on Coinbase.

Even more, wire transfers from Gemini are free, unlike Coinbase where it's 10$ per transaction.

So yes, in terms of fees, Gemini is cheaper than Coinbase.

Who Should Use Gemini or Coinbase?

As mentioned earlier both exchanges are quite reliable and confident choices for beginners as both of them are user-friendly and secure, but Gemini is offering educational platforms for investors. Also, customer service is much easier on Gemini.

But let's not forget the possibility to earn crypto while learning trading with Coinbase’s unique learning feature. 

Also, Coinbase just feels and looks slightly easier to navigate than Gemini.

Does Gemini report to IRS?

Yes, major exchanges like, Gemini, Coinbase, or Binance report to IRS when you reach 200+ transactions with $20,000 trading volume within one year. Gemini recently partnered with a tax compliance firm to provide its customers an easier solution for calculating cryptocurrency tax exposure.

Final words: Which one is better Gemini or Coinbase

When dealing with cryptocurrency exchanges, receiving the right service and value for your money is one of the most crucial aspects you should pay attention to.

These criteria show us whether it’s worth using and investing your money on the platform or not. In these measures, Coinbase is ahead of Gemini.

Also, to talk about simplicity and efficiency from the exchanges side, Gemini takes the lead in having a simpler user interface and is way more friendly for someone just starting out.

And last but not least Fees. Investing money needs a lot of knowledge in managing fees and expenses. On Gemini, you receive both knowledge and lower fees compared to Coinbase. So one more point goes to Gemini.

In this article, you have read some backstory about both exchanges and got some navigation through the platforms by addressing each's working structure. 

Therefore, there would be no such thing as a "bad decision" when making a decision between Gemini and Coinbase, since both exchanges are beginner-friendly, highly secure and reputable.

The choice is yours to make and I  hope that this Gemini vs coinbase comparison will help you to choose the best suitable option for you. 

Feel free to comment below which exchange you do prefer, Gemini or Coinbase.