Gemini offers a fee schedule based on monthly trading volume. For US users there is a 4% fee across the board. CoinbaseĬoinbase charges a range of fees that go from a price of 1.49% to 3.99% based on your location, transaction type, and amount. Check out what Gemini and Coinbase can offer when it comes to their fee structures. Any good trader will look for the lowest possible trading fees while still getting the best services they need. Trading fees can significantly affect your overall return on an investment. Withdrawals are similarly capped at $10,000 and $100,000 respectively. Individuals can deposit up to $500 per day while institutional investors are allowed up to $15,000. ![]() It also has some pretty strict deposit and withdrawal limits in place. At this time, it doesn’t accept any debit card or credit card transactions. Gemini accepts fiat funding through ACH bank transfer or wire transfer. You have to first sell one currency like Bitcoin then use the proceeds to buy another like Litecoin. The only downside to its support of fiat currency is that there is currently no method to offer a crypto to crypto exchange. You can either buy cryptocurrency directly or transfer money through depositing in your account for trading. Currently, you can use your credit card, debit card or a bank account to fund your Coinbase account. Let’s see how these two exchanges compare.Ĭoinbase allows fiat transactions using a wide variety of payment options. If you don’t already hold cryptocurrency like Bitcoin, it’s important that you have the option to buy with a fiat currency using a credit card, debit card or bank account. One of the most important considerations when comparing Gemini vs Coinbase is available funding methods. You’ll also be required to secure your account during the creation process, something we’ll cover more in depth in the security section. Once you provide the necessary information you can expect a rapid response. It offers one of the fasted ID verification processes though. You have to provide ID verification and proof of citizenship before you can begin trading. Geminiīecause of Gemini’s high level of regulatory compliance, creating an account can get complicated. This process had been taking several weeks during the latter half of 2017 but these bottlenecks have since been cleared up. You’ll have to provide a form of government ID, verify your phone number, and upload a selfie to prove your identity. To get started trading though you’ll need to verify. Account Creation and Verification CoinbaseĬoinbase doesn’t require you to provide ID verification to create an account or use its wallet services. For a lot of crypto newbies, this is a reassuring feature. Gemini has been growing steadily but is still a relatively small volume exchange. This means all US dollars held on the exchange are FDIC insured. This includes very strict KYC and AML requirements when compared to most other cryptocurrency exchanges.Ī major selling point for this platform is its relationship with a New York state-chartered bank. It was built from the ground up to follow full US regulatory compliance. Early proponents of and investors in Bitcoin, the Winklevoss twins founded Coinbase with the goal of legitimizing cryptocurrency exchanges. ![]() Gemini was founded in 2015 by the Winklevoss twins who are famous for suing Facebook. ![]() Coinbase is one of the only cryptocurrency exchanges that meet the strict requirements needed to get a US Bitlicense. It works hard to maintain its user-friendly appearance and has always tried to comply with US and international financial regulations. Since its creation, it has established itself as the best exchange to get started in cryptocurrency. ![]() There is no user to user trading of cryptocurrency whatsoever, with every transaction being processed by Coinbase itself. It works entirely as a brokerage type exchange. It’s a California based cryptocurrency broker and was the first cryptocurrency exchange to reach a market valuation at a price of over $1 billion. Coinba se has been around since 2012 and was founded by Brian Armstrong and Fred Ehrsam.
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