Choosing the top cryptocurrency exchange has become a little more complicated in the recent past. This is because there have been many new cryptocurrency exchanges that have started. Many of the top exchanges have basic functionalities. This includes great security measures that keep all the users' funds safeguarded. In the end, the top cryptocurrency exchange for any investor will hinge on the requirements of the investor. This is where the debate starts on Gemini vs. Coinbase. When looking at the various exchanges present in this sphere, investors should think about what they want from the services. All the investors should place top priority on the security that is provided by the exchange. Both Coinbase and Gemini are leaders in the industry when it comes to providing security to an investor's funds. Other features that an investor might want are accessibility from both desktop and mobile, good user interface, and altcoin offerings. Let us dive deep into the debate of Gemini vs. Coinbase and find out which of the exchanges is more suitable for your needs.

What is a Cryptocurrency Exchange?

The exchange present in this sphere pairs sellers and buyers of digital assets to initiate the trading of cryptocurrencies. These exchanges have order books where the purchasers can bid at a specific price. The sellers can ask at a specific price for a digital asset. The users can then sell or purchase shares at the market price for either the lowest ask or the highest bid. Several cryptocurrency exchanges, including Gemini, allow investors to get interested in their cryptocurrencies. Depending on the digital asset, you can get nearly double-digit annual interest on your holding without taking on additional risk. Many of the exchanges present right now in this sphere are decentralized.

Gemini vs. Coinbase Features

One of the main features of any such exchange is the security that it provides to the investors. Both Gemini and Coinbase give security that leads the industry. But Coinbase is a public firm. So, there are many investors that put their faith in this exchange to keep their funds. You may be one of the investors that want to hold your cryptocurrencies in the safest way possible. Then you can also think about a hardware wallet. Depending on your overall experience in trading, you may also want to try trading indicators, derivative offerings, and order types when finding out which exchange is the top one for you. Coinbase has a simplified layout that makes it a great choice for newbie investors. Gemini provides candlesticks charts. This makes it a better option for people who trade on a daily basis. The cryptocurrency exchange will also be required to support the tokens you want to purchase. Gemini and Coinbase have a long list of cryptos supported by them. But there is some exchange since Binance that has even more coins supported.

Also, traders will like a few features on their exchange. These are advanced trading tools such as technical analysis indicators and learning resources. These platforms have their own resources to assist newbies in learning about the basics of trading in cryptocurrencies and more. Gemini has a small advantage in providing trading tolls when compared to Coinbase. But both of them have good options for doing simple technical analysis and research.

Coinbase Overview

This cryptocurrency exchange was started nearly a decade ago with the aim of developing an open financial system in which any person all around the globe can buy digital currencies. Initially, the platform only had one currency in the form of Bitcoin. But now, it has more than sixty cryptocurrencies listed with it. The exchange is also increasing the speed of its listing process. It is giving its users many different chances of investment. Last year, the firm launched a tool known as Solidify to assist in listing some tokens at an even faster rate. The platform has a lot more cryptocurrencies listed on it than most of the other exchanges. But its biggest benefit over the other exchange is that it gives a lot of security to its investors. The exchange has all the main security features that other top exchanges provide.

One of the disadvantages of the exchange is that it is not supported in as many nations as Gemini. Its complete services are present in the United States, Australia, Singapore, Canada, and Australia. It also permits more than ninety nations to convert between the various cryptocurrencies listed. But the residents of a lot of these nations cannot deposit or trade with any fiat money on the exchange. The platform is looking to expand its services to a lot more nations in the near future.

Gemini Overview

Gemini is also a very popular cryptocurrency exchange founded by the famous Winklevoss twins. The twins have been a part of this community since they purchased a small percentage of the entire supply of Bitcoin around the globe for under eleven dollars per coin. After some years, the twins founded Gemini. It swiftly became known as one of the top platforms for trading cryptocurrencies. Gemini says that it functions with a mentality of safety first and has also implemented a lot of security measures to show that. It was one of the initial crypto exchanges licensed by the New York State Department of Financial Services. The city has more regulations than most of the other states in the nation on the services related to cryptocurrencies. Coinbase and Gemini are only one of the handful of licensed exchanges of that city's Department of Financial Services.

Gemini vs. Coinbase Fees

Both of these exchanges have fee structures that are quite complicated but with a few differences. Both of the exchanges charge the investor nothing for the deposits of cryptocurrencies and the instant ACH bank transfers. If the investors want to fund the account with wire transfers, they may go with Gemini. It does not charge a lot, whereas Coinbase charges more than nine dollars for wire transfer depots and more than twenty-four dollars for outgoing wires. Gemini divides its fees based on the overall size of the transactions. It charges a flat fee for orders below two hundred dollars and 1.5% for the bigger transactions. Coinbase has a little more complex structure of fees that hinges on the location and the method of payment. In the United States, transferring money through the USD wallet of Coinbase or using a linked bank account to make any purchases lead to a fee of 1.5%. But using PayPal or a debit costs four percent. It also has a good guide on the help center that helps break down all the fees for the regions and the payment method.

Both the exchanges have another free platform useful for more experienced or active traders. These platforms utilize a maker-taker model that charges much lower fees than the local platforms. The model has been created to charge more fees on those trades that take the market's liquidity than create more liquidity. For instance, if any investors open a trade that is filled instantly, the trader is taking the liquidity off the market and is charged a little higher. The fees also decline as the size of the overall order increases.

Conclusion

The winner of Gemini vs. Coinbase is not easy to decide. Both are very secure exchanges with only a little difference in their functions and fees. Your preference as an investor in this sphere may hinge on where you are located. This is because both exchanges have some nations they do not support. It is also vital to find out whether the currency you want to trade-in is listed in the exchange. Find out if your possible trading strategy fits into the overall fee structure of the exchange. Big investors planning on selling or purchasing cryptocurrencies of large amounts might go towards Coinbase Pro because it has lower fees. On the contrary, the traders situated in the Philippines or South Korea would want to go with Gemini because most of the services of Coinbase are not present in those nations. But either of the exchanges will be a good choice. But there are some differences that will make it easier for you to choose between Gemini vs. Coinbase.