Gemini vs. Coinbase

At a Glance

Gemini vs. Coinbase: Features

Both platforms are suitable for beginner users, with straightforward user interfaces (UI), user-friendly mobile apps, and simple trading options. You’ll also get a digital hot wallet with Gemini and Coinbase and a nice selection of informational resources. But, each exchange offers some unique features. 

Gemini features consist of: 

• The Gemini Earn program: Customers in all 50 states can earn interest on their net balance of certain crypto coins. Different coins earn different rates. Currently, Gemini Dollar earns the highest annual percentage yield (APY) at 8.05%. Dai earns 7.99% and Bitcoin earns 1.49%.
• Third-party integrations: Gemini provides public API keys so you can connect other software tools, making Gemini an excellent option for fund managers or other institutional traders. 
• Gemini Pay: Gemini has teamed up with more than 30,000 retailers allowing you to pay for purchases using your Gemini account and stored cryptocurrency. 

On Coinbase, beginner investors appreciate features, such as:

• The ability to earn crypto while learning about investing via short videos
• A watchlist feature to see price histories or receive alerts when prices go up or down
• The built-in newsfeed with regular updates about the cryptocurrency market
• The option to contribute to the Proof of Stake (PoS) network to earn an income on assets
• The ability to deposit funds from altcoin sales to PayPal

Gemini vs. Coinbase: Supported Currencies

Gemini and Coinbase accept fiat currencies. Gemini supports seven types: USD, AUD, CAD, EUR, GBP, SGD, and HKD, while Coinbase supports three: USD, GBP, and EUR. However, Coinbase offers many more altcoins than Gemini does. For instance, you can’t purchase Dash, EOS, Cardano (ADA), and Ethereum Classic (ETC) on Gemini.  

Both platforms support popular currencies, including:

• Ethereum (ETH)
• Aave (AAVE)
• Litecoin (LTC)
• Dai (DAI)
• Bitcoin Cash (BCH)
• Chainlink (LINK)
• Uniswap (UNI)

Gemini and Coinbase are always adding new cryptocurrency options, so the number of supported currencies can vary. Coinbase supports people residing in over 100 countries, whereas Gemini traders are limited to about 60 countries. The range of options for fiat currencies and international locations still puts both platforms in line with the best crypto exchanges.  

Gemini vs. Coinbase: Security

These popular exchanges adhere to the highest safety measures and U.S. regulations, making them a favorite for investors. J.P. Morgan backs both platforms, and Coinbase made its stock available on the NASDAQ in 2021 via a direct listing. Moreover, all USD balances on Gemini and Coinbase are covered by the Federal Deposit Insurance Corporation (FDIC) insurance on balances up to $250,000 per individual.

With Gemini and Coinbase, you’ll also get a two-factor authentication (2FA) process via short message service (SMS), or you can use the Authy app on Gemini or the Google Authenticator app on Coinbase. Plus, Coinbase says it keeps 98% of customer funds in cold storage, meaning it’s kept offline in safe deposit boxes or vaults. Gemini holds the majority of the crypto is held in an offline, air-gapped cold storage system.

Additionally, Gemini provides security options for institutional traders, such as defined user access role permissions for trading cryptocurrency or accessing the account. You can also look at devices that use your account or that are logged into it. Furthermore, you can set up address whitelisting involving a seven-day hold process, after which you can only use specific addresses for withdrawal. 

Gemini also insures the Gemini Wallet from security breaches or fraudulent actions. Coinbase insures users' funds as well. However, the insurance doesn't cover unauthorized access to your personal account, only breaches of Coinbase and its systems.

Gemini vs. Coinbase: Fees

Coinbase and Gemini charge higher fees than other popular exchange platforms. Coinbase now has a maker-taker fee structure on both the regular platform and Coinbase Pro. Previously only Coinbase Pro used this structure. For most trades you'll pay 0.50%, but as trade size increases fees decrease. Different funding methods also incur fees with debit and credit cards costing more than ACH.

Gemini has a complex fee structure, especially on smaller trades. Trades under $200 incur small flat fees in various amounts. Trades above $200 incur a very steep 1.49% fee. However, you can get lower fees by using the Gemini ActiveTrader plan, which uses a maker-taker model with lower fees than Coinbase's maker-taker fee schedule.

If you consistently pay via wire transfer, you can save quite a bit on Gemini since it doesn’t charge fees for wire transfers, whereas Coinbase does. Gemini API users may also have lower costs than web- or app-based users.

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 favorable third-party customer reviews.

Gemini provides a robust, frequently asked questions (FAQ) knowledge base and several 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 X (formerly 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 or monitoring of social channels. There is a chat button as well as a contact form. The phone number is only for fraud and account-locking situations, not general service.

Final Verdict

Both Gemini and Coinbase are well-rounded platforms that cater to investors of all types, including beginners. However, Coinbase offers more available cryptocurrencies and locations than Gemini. Therefore, if you're looking for a greater amount of supported cryptocurrencies, or you are investing from a country where Gemini is not available, Coinbase is likely your best option.

Methodology

We compared Gemini versus Coinbase by looking at shared attributes and differences in 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 of mobile applications to narrow down our options.