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Coinbase vs. Gemini: Which Cryptocurrency Exchange Is Right For You In 2022

Gemini-vs-Coinbase-Crypto-Exchange

Gemini and Coinbase are considered as highly rated and popular crypto exchanges, especially for U.S. investors. Coinbase is a reputable crypto exchange with years of experience. Like Coinbase, Gemini is registered and regulated by the relevant U.S. authorities.  

Most of the benefits they offer are similar such as quality educational content, top-notch security, and the ability to earn interest. That's why it's sometimes hard to choose between the two. To help you in this regard, we have compared these exchanges. So, let’s see which one is more suitable for you.

Coinbase Trading Platform

Coinbase Cryptocurrency Exchange

By trading volume, Coinbase is the largest cryptocurrency exchange in the U.S. It has been operating for the past ten years. Coinbase focuses on the user-friendly and straightforward layout of its interface. This thing makes it a beginner-friendly crypto exchange. That's why new traders and investors choose Coinbase when starting their journey in the crypto world.

In terms of security, Coinbase provides the best protection to the stored cryptos. For example, 98% of the cryptos are stored in cold storage to prevent attacks and security breaches. Furthermore, with features like 2FA verification, biometric logins, and AES-256 encryption, Coinbase is a secure platform for crypto trading.

Coinbase is a perfect choice for novice traders. The most impressive features of this platform include low account minimums and an easy-to-use interface. The dashboard is clean and comes with minimal options. In addition, storing cryptos is much easier, as this exchange offers an integrated wallet. You can store or trade your cryptos through this wallet.

Notable Features

  • Whitelist wallet address
  • Accepts fiat currencies

Key Features

  • Supports a variety of cryptocurrencies
  • User-friendly interface
  • Highly secure platform

Pros

  • Allows to withdraw funds to a PayPal account
  • A standalone and secure hot wallet
  • Available in more than 100 countries

Cons

  • High fees
  • Not available in Hawaii

Gemini Trading Platform

Gemini is known for its compliance measures and strong account security. Besides, you can also access a variety of services and products such as rewards credit cards, a built-in hot wallet, and the ability to earn interest. However, this exchange offers fewer cryptocurrencies than its competitors, which might concern professional traders.

Even with fewer cryptocurrencies, this exchange is an excellent option for experienced and novice traders. It is because Gemini comes with a range of unique tools and products. The security features include SOC-2 certification, third-party auditors, and cold storage.

The default trading platform of this exchange is easy to use. It offers additional info for investors willing to sell or buy cryptocurrency. If you are interested in a high-performance trading platform, Gemini ActiveTrader could be the answer.

This option allows you to place multiple order types, including limit or market orders. Another key feature of this platform is its advanced charting tools. Furthermore, you would also like its deep order book visibility.

Notable Features

  1. Rewards credit card
  2. Allows to earn interest

Key Features

  • Strong security
  • Ensured U.S. dollar accounts

Pros

  • Available in all 50 U.S. states
  • Hot wallet insurance
  • Strong security
  • Easy-to-use

Cons

  • Trading fees can be high
  • Fewer trading pairs

Coinbase vs. Gemini Cryptocurrency Trading Platform

Here, you can look at the major factors that can play their role when choosing a crypto exchange.

1. Coinbase vs. Gemini: Fees

When it comes to the trading fees, Gemini takes the lead. The transaction fee is relatively lower when compared with Coinbase. However, the difference isn’t that big. If you choose the most affordable trading options, Gemini costs you 0.40% or less trading fees, while Coinbase charges 0.60% trading fees. Both Gemini and Coinbase also use the maker-taker model. It might be confusing for the new traders.

2. Gemini vs. Coinbase: User Experience

Both Coinbase and Gemini offer an easy-to-use interface. Both their web-based platforms and mobile apps are easy to use. The trading process is simple and convenient. You can also take assistance from the available educational tools.

For better customer support, Gemini offers a great FAQ section.You can contact Gemini’s support team via email, phone, or chat. Also, it offers webinars and an extensive knowledge base. The information provided in the tutorials can help beginners to have a better understanding of crypto trading.

3. Coinbase vs. Gemini: Mobile Apps

Both these platforms offer their own mobile apps. You can trade cryptos using these apps without noticing any difference in usability and performance. These apps are designed to provide an experience similar to a web-based crypto platform. However, Gimini’s mobile version lacks some of the advanced trading features.

4. Gemini vs. Coinbase: Technical Charting

Technical charting, commonly referred to as ‘Candlestick’ chart, is an advanced and technical way of understanding the market flow. This charting is an essential tool for novice and experienced traders. Both Gemini and Coinbase offer specialized charting options. However, there are a few differences regarding the info displayed through these charts.

The charts displayed on Coinbase’s platform are relatively easy to understand. However, Gemini offers more advanced charting options suitable for experienced traders. With these charts, traders can find the best trading opportunities. In addition, as a crypto trader, you can view the market trends and analyze their sentiment.

Final Verdict

We can’t underestimate the true worth of both these crypto exchanges. In fact, Gemini and Coinbase are among the top exchanges worldwide, and there are specific reasons for this preference. Both these exchanges offer user-friendly and intuitive crypto trading platforms. Besides, you can also count on the security measures of these platforms.

However, to pass our verdict, we consider Coinbase a better option. This platform tends to have an edge when it comes to cryptocurrency selection. If you are looking forward to investing in various cryptocurrencies, Coinbase is the right choice for you.

Risk Disclosure: Any investments come with an inherent risk, where you could end up making less money than what you put in. Before investing your hard-earned cash, be sure to speak with licensed professional financial advisor first. Always remember that past performance is not an indication of future returns.

Disclaimer:  This website's owners may be compensated for suggesting certain businesses, goods, and services. While we do everything possible to verify that all of our content is accurate, the information we provide may not be impartial or unbiased, and it does not constitute financial advice.

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