Comparing Coinbase To Gemini – Here’s What You Should Know

cryptocurrency wallet

Delving into the cryptocurrency market can be quite daunting for someone who is not yet experienced in this industry. There are many different terms and jargon to become educated about – and since many of these terms are frequently used in platforms that deal with cryptocurrencies, it is vital to learn more about them before deciding to dig into this market. To get started with cryptocurrency, the first step is to determine which cryptocurrency you wish to purchase. There are quite a large number of options available, with Bitcoin obviously being the most well-known. Once decided, you need to register a wallet where you can send funds to and manage your cryptocurrency portfolio.

After setting up your wallet, the next step is to find an exchange that would allow you to easily buy and sell cryptocoins. The choice of exchange you make is very important, since there are numerous exchanges that does not have a trustworthy record. Making the wrong choice can lead to lost money. Thus, do some research before you decide on a particular cryptocurrency exchange to use. In this post, we’ll take a look at a comparison between Gemini and Coinbase.

Gemini Vs. Coinbase

gemini logocoinbase

Both Gemini and Coinbase are reputable companies in the cryptocurrency market. These two particular companies are both very popular, but Coinbase is more established than Gemini. Both Coinbase and Gemini have headquarters that are located within the United States, with Coinbase having a headquarter in California and Gemini’s headquarters situated in New York. With both of these companies having an official headquarter address, it already adds some level of trust to the companies.

To provide a better overview of how Gemini and Coinbase compare to each other, here is a breakdown of the numerous features provided by these companies:

  • While Gemini primarily acts as a cryptocurrency exchange, Coinbase rather promotes their services as an easy way for people to buy and sell cryptocurrencies without the issues and complexity of traditional cryptocurrency exchanges.
  • When it comes to buy and sell methods, Coinbase offers more convenient options that can be chosen from. With Coinbase, customers can deposit funds into their account through a credit or debit card, as well as through a bank transfer. Withdrawal can be made through either a bank transfer or PayPal. With Gemini, the only option that is available for both buying and selling is bank transfers.
  • Coinbase offers three different cryptocurrencies, including LiteCoin, Bitcoin and Ethereum. Gemini, on the other hand, has a more limited selection of available cryptocurrencies, offering customers the ability to only choose between Ethereum and Bitcoin.
  • Coinbase is a more established company, being founded in 2012. Gemini is newer to the market, only being launched in 2015.
  • Both of these companies have excellent ratings for the customer support level. Getting in touch with both companies are easy for the customer, and the customer support team from both Coinbase and Gemini is experienced in the market and able to provide professional advice on questions the customer may have.
  • Registering at either Gemini or Coinbase will require verification. This is beneficial for the customer as it means the company is more trustworthy.
  • When it comes to comparing the fees of these two companies, Gemini seems to be the better choice. The fees charged for transactions are much lower at Gemini than it is at Coinbase.

Conclusion

One of the most important steps in the cryptocurrency market is to choose the right cryptocurrency exchange. A cryptocurrency exchange allows for a person to both buy and sell various cryptocurrencies. Choosing the right cryptocurrency exchange is vital, since many have been deemed to not be trustworthy. In this post, we looked at both Coinbase and Gemini.

 

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Kevin Lee is a former tech advisor who cut his teeth in Silicon Valley. He now spends his time sharing his passion for investing in diamonds and jewelry. You can reach Kevin for any comments by using the contact form on this site. Don't forget to sign up for his free "Investing 101 Guide" by clicking on the button at the top right of this website.