Gemini vs Coinbase

Were you looking for US-based crypto exchange platforms and now cannot decide between Gemini vs Coinbase? Then you did your research right. Both platforms are top-performers among their peers and are very similar. They are both regulated and constantly audited to comply with rigorous rules. Being beginner-friendly, they have excellent educational materials as well. And for those interested in more advanced features when trading digital assets, they even have separate platforms.

However, there are some differences too. Let’s find out what they are.

Side-by-Side Comparison

Let’s begin with looking into their primary features and how they compare.

Gemini vs Coinbase: Account Requirements

Gemini users need to provide their full name, address, and date of birth when signing up. Furthermore, a valid phone number, email address, and SSN are requested too. Even though these are required when signing up, the list doesn’t end here. Users need to submit additional documentation based on their place of residence to be able to make a withdrawal. For US users, that is a copy of their passport or Driver’s license. Canadian users need to provide their Social Insurance numbers as well. International users need to submit at least two valid government-issued documents.

Creating an account on Coinbase seems less demanding, and the Coinbase KYC is more simple. However, users still need to provide Proof of Identity (a valid government-issued document with your photo) and Proof of Address (e.g. a utility bill). Finally, they need to answer a short questionnaire where they will indicate the source of their funds and provide the last four digits of their SSN.

Number of Cryptocurrencies

The Gemini coin list is decent in size. Users can choose from a selection of more than 75 coins. Among them are the most well-known native coins like Bitcoin (BTC), Dogecoin (DOGE), Ethereum (ETH), and a few stable coins like the Gemini Dollar (GUSD) and the USD Coin (USDC). The Gemini dollar is a stable coin that runs on the Ethereum network and has a fixed value of 1:1 to the American dollar.

Coinbase supports more than 100 coins. Here you will find some famous and other not as popular digital currencies. Compared to the coins available on Gemini, Coinbase has a broader selection of altcoins. Among the coins available on Coinbase but not on Gemini, you will find Dash (DASH), Ethereum Classic (ETC), and Cardano (ADA).

Usability

The Gemini platform is beginner-friendly and intuitive. Its interface is simple and easy to navigate, making it a perfect choice for all new crypto enthusiasts. All crypto traders who are well-seasoned enough to need advanced features and order types will be better off on Gemini Active Trader. It’s a distinct platform for more active and advanced traders.

Coinbase is very similar in this respect. All the necessary features to be making beginner trades can be found on the native Coinbase exchange. However, the Coinbase Pro platform contains all the bells and whistles of advanced trading and order types.

Fees

Our Coinbase vs Gemini comparison will not do the platforms justice if we fail to mention their fee structure. Their features might be straightforward and beginner-friendly, but we cannot say the same about the fees. Both these exchanges have complex fee structures – another one of their similarities.

Gemini calculates its prices based on the platform you are using, the maker-taker model. So, how much you will pay when making a trade on the web platform will not be different from making the same trade on your mobile device. Apart from the trading fee, there is also a transaction fee. This one will not be higher than 2.99%. On top of the trading fee, you will be charged a convenience fee of around 0.50%.

Though complex, the Gemini crypto fees are at least very straightforward. We cannot say the same for Coinbase. Prices are not stated clearly anywhere on the platform’s client portal. Instead, the exchange will disclose all fees to users before making the trade. But one thing is certain. A spread of around 0.50% is charged, determined by different variables.

Mobile Apps

Android and iOS mobile device users can access both trading platforms through their respective apps. The Gemini app is rated above 4.5 on both the Apple and Google store. The Coinbase Android app has a slightly lower rating than that.

The list of functionalities available on the apps is identical to that provided on the web platforms. Furthermore, both Gemini and Coinbase employ top-notch security practices when it comes to their mobile app as well.

Customer Support

Which platform do you think performs better when it comes to customer support: Coinbase or Gemini?

Users can reach out to Gemini via email and support tickets. The platform loudly warns users to be wary of everyone trying to impersonate support agents to gain their information. Every email that ends in something other than @gemini.com is not one of their valid email addresses. There is a ChatBot for offering quick solutions to users with undemanding questions.

Coinbase is more versatile than Gemini in reaching a customer service agent. Apart from the usual email and support tickets, Coinbase has a Live Chat feature. Users with pressing matters can talk to somebody over the phone too. Phone support is not available 24/7 for users residing in the UK or Ireland.

Security

Do you think Gemini or Coinbase is more secure?

Gemini is a regulated platform and prides itself on being the first exchange to be ISO 27001 certified. The regulators constantly monitor the exchange platform, and it needs to comply with their demands. When it comes to securing user accounts, it follows the industry’s standard. The 2FA is a must. Not only for logging in but for making withdrawals too. Finally, at least once a year, Gemini hires a third party to perform penetration tests and identify possible security flaws.

Coinbase is on par with Gemini when it comes to security. Coinbase encrypts all sensitive data in storage and transit and employs 2FA for user accounts. Apart from that, the platform protects its drives as best possible. They are keeping their drives in geographically separate locations. Coinbase employees go through strict background checks and training in following the industry’s best security practices.

Another similarity in the security practices of Coinbase vs Gemini is how they store crypto assets. As you can probably guess, crypto is stored mostly cold on both platforms.

Who Is Gemini Best For?

Knowing that Gemini has never had a security breach so far, this platform is best for everyone who puts security first. If you wouldn’t like to leave anything to chance when trading or storing crypto, then Gemini is right for you. Being constantly monitored and audited by regulators should ease even the most security-conscious trader. However, this comes with a price. The fees on the platform are on the higher end compared to other competitors.

Gemini Pros and Cons

+Its services are available in all US states
+A leader in the field of best security practices
+Crypto held in hot storage is insured

-Gemini fees are higher compared to its competitors
-A more limited number of crypto coins compared to Coinbase

Who Is Coinbase Best For?

Coinbase is one of the most favored beginner-friendly platforms. Having a clean and simple interface and easy-to-use app are only some of the perks novice traders will find on the exchange. Even though most trades are carried out in a few simple steps, nothing has been sacrificed for the sake of simplicity. Security on the platform is on par with other competitors. That being said, Coinbase is best for everyone who is about to buy the first crypto coins and is looking for a reliable exchange platform.

Coinbase Pros and Cons

+Simple and easy to use crypto exchange
+A wider selection of crypto compared to Gemini supported coins
+Low minimum trade

-Fees are higher compared to other crypto exchanges
-Low customer service rating

Which Is Better: Gemini or Coinbase?

Both of the competitive platforms are simple to navigate and beginner-friendly. Another thing they have in common is that both are based in the US and employ state-of-the-art security practices. So how to decide which one is better, then?

Gemini has one advantage over Coinbase. Users on this platform can get in touch with a customer service agent faster and more efficiently. Yet, the process of signing up for Coinbase is more simple and faster compared to Gemini.

Nevertheless, picking one of the two platforms is not easy. It all comes down to a  matter of personal preference and choice. Now that you know all the details, hopefully, it will be easier to make an informed choice between Coinbase vs Gemini.