As we all know, the trading of various cryptocurrencies in the world attracts new traders or investors. There are various platforms available in the world that allow their users to trade cryptocurrencies but because of a wide range of platforms, it becomes difficult for new users to choose which platform is best. And there are various contents of comparisons among different crypto platforms available on the internet that helps new users to choose the best one according to their needs and requirements. Today we will talk about Crypto platforms like Gemini and Coinbase exchange that allow their users to easily and safely trade available cryptocurrencies.
Both of these platforms are well-known and trustworthy centralized crypto exchanges in the world. Gemini Exchange was initially founded and launched on October 25, 2015, by two men: Tyler and Cameron Winklevoss. On the other hand, Coinbase was initially launched in the year 2012 by two men: Brian Armstrong and Fred Ehrsam. They both offer many of the same features or benefits to their users such as top-notched security, providing an opportunity to earn interest by crypto staking, educational content, and many more. But in the comparison of Gemini vs Coinbase we get to know that if they have some similarities then there are some differences also which we will read in our further content.
In our further content, we will do a comparison between Gemini vs Coinbase on the basis of currencies supported, wallet, and fees.
Difference between Gemini vs Coinbase
On the Basis of currencies supported:
In the comparison of Gemini vs Coinbase on the basis of currencies supported by them we get to know that both platforms support a large number of cryptocurrencies for trading. Coinbase supports more than 250 cryptocurrencies available in the crypto world. On the other hand, the Gemini exchange supports over 100 cryptocurrencies. Along with that both of these platforms accept fiat currencies. Gemini accepts seven types of fiat currencies including AUD, CAD, SGD, HKD, USD, EUR, and GBP. While Coinbase only accepts three types including USD, GBP, and EUR.
On the Basis of their Wallets:
The comparison of Gemini vs Coinbase on the basis of wallet type states that Coinbase is better to store funds. Gemini Exchange uses a custodial type wallet and cryptos stored there are also controlled by Gemini which means the wallet is controlled by third party. On the other hand, Coinbase has a non-custodial cryptocurrency wallet, so funds stored by its users are fully controlled by them. Along with that it is free and anyone can use it whether they have created a Coinbase account or not.
On the Basis of Fees:
In the comparison of Gemini vs Coinbase on the basis of fees we get to know that Coinbase and Gemini take higher fees as compared to other crypto exchange platforms. Coinbase charges of maker and taker fees are ranging between 0.00% to 0.40% and 0.05% to 0.60%. Along with that, it takes 1.49% on the bank account and wallet fees, 3.99% fee on debit/credit purchases, $10 for wire transfer deposits, and $25 for withdrawals. On the other hand, Gemini wire transfer and ACH transfer fees are 0. But it takes a fee of 1.49% for trades over $200.
Conclusion:
In our above content, we have covered some topics such as an introduction to Gemini and Coinbase exchange. Along with that we have covered a comprehensive comparison between Gemini vs Coinbase on the basis of currencies supported, wallet, and fees. Both of these platforms are powerful crypto exchanges with unique features. Users have to consider their needs and requirements while choosing between Gemini and Coinbase.
The comparison of Gemini vs Coinbase on the basis of wallet type states that Coinbase is better to store funds. Gemini Exchange uses a custodial type wallet and cryptos stored there are also controlled by Gemini which means the wallet is controlled by third party. On the other hand, Coinbase has a non-custodial cryptocurrency wallet, so funds stored by its users are fully controlled by them. Along with that it is free and anyone can use it whether they have created a Coinbase account or not.
On the Basis of Fees:
In the comparison of Gemini vs Coinbase on the basis of fees we get to know that Coinbase and Gemini take higher fees as compared to other crypto exchange platforms. Coinbase charges of maker and taker fees are ranging between 0.00% to 0.40% and 0.05% to 0.60%. Along with that, it takes 1.49% on the bank account and wallet fees, 3.99% fee on debit/credit purchases, $10 for wire transfer deposits, and $25 for withdrawals. On the other hand, Gemini wire transfer and ACH transfer fees are 0. But it takes a fee of 1.49% for trades over $200.
Conclusion:
In our above content, we have covered some topics such as an introduction to Gemini and Coinbase exchange. Along with that we have covered a comprehensive comparison between Gemini vs Coinbase on the basis of currencies supported, wallet, and fees. Both of these platforms are powerful crypto exchanges with unique features. Users have to consider their needs and requirements while choosing between Gemini and Coinbase.
