| Fees | Gemini | Coinbase |
|---|---|---|
| Bank account | 1.49% | 1.49% |
| Wallet | 1.49% | 1.49% |
| Debit/credit cards | 3.49% | 3.99% |
| ACH transfer | Free | Free |
| Wire transfer | Free for up to 10 per month | $10 deposit, $25 withdrawal |
| Crypto conversion | Free | 0.50% to 2% |
| Trades | A “rate of 0.50% (or 50 basis points) above the prevailing Gemini market price” | A “spread 0.50%” |
| Other fees | Fee of $0.99 to $2.99 based on the amount or 1.49% for trades over $200 | Coinbase fee of $0.99 to $2.99 based on the amount |
Gemini vs. Coinbase: Ease of Use
Coinbase and Gemini feature user-friendly web browsers and mobile application interfaces, a simple signup and trading process, and convenient educational tools. The mobile apps provide an experience similar to web browsers and receive high user ratings on Google and Apple app stores, with both exchanges getting 4.7 out of 5 stars on Apple.
Gemini provides a robust, frequently asked questions (FAQ) knowledge base and three webinars. However, it recently launched an education platform, Cryptopedia, which includes cryptocurrency trading articles on currencies, security, trading, investing, and decentralized finance (DeFi).
The Gemini exchange provides customer service via email or a web request, plus the company says it monitors social channels, such as Twitter, Facebook, Reddit, LinkedIn, and Instagram. Users can also chat online or reach Gemini on the telephone 24/7.
Similar to Gemini, Coinbase provides a comprehensive knowledge database, including a section of articles for beginners, tips and tutorials, and market updates. Users can earn crypto by watching educational videos. Unlike Gemini, Coinbase doesn’t offer phone-based customer service, live chat, or monitoring of social channels. You can report fraud via a phone number, email the company directly, or submit an online form.
Frequently Asked Questions (FAQs)
What Are Gemini and Coinbase?
Gemini and Coinbase are crypto exchange platforms allowing traders to buy, sell, and trade various altcoins online. Both are U.S.-regulated exchanges, meaning they comply with anti-money laundering and know your customer (KYC) initiatives.
People who want to start investing in cryptocurrencies use simple tools like the Gemini and Coinbase exchanges to get started and learn the tricks of trading. Although each platform is straightforward to use, complete newbies may prefer Coinbase’s streamlined view.
How Do Gemini and Coinbase Work?
Coinbase and Gemini are cryptocurrency exchanges that serve as an online brokerage for consumer investors. Both cater to U.S. users and beginners. The account setup processes follow regulatory standards and are very similar. New users sign up for an account, verify their email address, and connect a payment method. In accordance with U.S. rules, both platforms require users to verify their identity and address.
With Gemini and Coinbase, you can buy altcoin then store it until you want to withdraw funds to your digital wallet, or Coinbase supports withdrawals via PayPal. You also have the option to trade some currencies for others, called trading pairs.
Is Gemini Cheaper Than Coinbase?
For some use cases, Gemini is cheaper than Coinbase. For example, both platforms charge an estimated 0.50% fee per trade and $2.99 for a purchase using $100. However, if you use a credit card to pay for your altcoin, you’ll pay 3.99% on Coinbase and 3.49% on Gemini. Moreover, Gemini doesn’t charge for wire transfers, whereas Coinbase charges $10 per deposit.
If you opt for Coinbase Pro or Gemini ActiveTrader, you’ll pay maker-taker fees. Gemini’s fees are less expensive than Coinbase when investing up to $50,000. But, after $50,000, Coinbase prices are lower than Gemini.
Who Should Use Gemini or Coinbase?
Beginners will be comfortable using Gemini and Coinbase, as both are secure and user friendly. However, Gemini also offers features for institutional investors, allowing fund managers to track device use and access permissions. Plus, access to customer service is much easier on the Gemini exchange.
However, new users may prefer the quicker onboarding process of the Coinbase platform, including earning crypto while learning about trading. The Coinbase exchange looks and feels slightly more accessible than Gemini.
How We Evaluated Gemini vs. Coinbase
We compared Gemini versus Coinbase by looking at shared attributes and differences for customer service options, security levels, and supported countries. Moreover, we considered the variety of cryptocurrencies available to trade, fiat currencies accepted, and deposit and withdrawal methods. We reviewed standout features, self-help guidance, and the popularity and ease of use for mobile applications to narrow down our options.
