With the world transforming digitally, our lives adopted a new lifestyle, too. The digitization did not stop with adding hi-tech equipment to our everyday lives, currencies all around the world got digital too. Cryptocurrencies came into being and shaped the way people look at finances. New processes were introduced, and crypto trading and investments quickly grabbed the spotlight. And soon after that, tons of crypto exchange platforms were designed and launched to help in trading and investing.
This read will give you a detailed exposure to two such crypto exchange platforms that is often up for debate on which must be chosen- Gemini vs Coinbase. A lot of features of these two platforms go hand in hand, but some differences successfully separate them from one another. You’d find the basics, characteristics, and differences based on them. Let’s walk you through the details so you can make an informed decision about which crypto exchange to side with for the “Gemini vs Coinbase” fight.
What are the specifics of Coinbase?
The United States of America has awarded Coinbase with the best cryptocurrency exchange platform title in the country. It is said to be the standard route for new investors and has proven to be effective over the years. The platform offers its stable coin in US dollars along with 50 other cryptocurrencies to the users. They can choose to trade, invest, and do more with a variety of cryptocurrencies available on Coinbase. And that definitely stands as a strong point in the “Gemini vs Coinbase” fight. One more specific thing to remember is all the crypto offered on the platform are believed to be compatible with the decentralization criterion of Coinbase.
What are the specifics of Gemini?
Buying, selling, storing, and spending cryptocurrencies through a website and a mobile application is best suited on Gemini. It has a renowned reputation because of its exclusive and strong security standards along with the ease that users have appreciated it for. Just like in Coinbase, the point that Gemini offers one of its crypto coins and 40 other cryptocurrencies, counts as a comparing base when talking about Gemini vs Coinbase. The cryptocurrency exchange has introduced a specific application to make payments and has always specified an interest-paying savings account since the beginning of its lifetime. In addition, it is believed that a Gemini Credit Card is being worked on for launch.
What are the primary traits for Coinbase and Gemini?
Before beginning with the primary traits or features of the two cryptocurrency exchange platforms, you should know that these are the major bases for making a rational comparison between them. So, let’s take a tour through them:
- On completing crypto projects, you get free crypto coins.
- Get crypto updates with exclusive access to the newsfeed.
- Be able to get alerts on price changes by making a crypto watchlist.
- All the services are FDIC insured (up to $250000).
- 100 countries all over the world can get these services.
- You are eligible to earn interest on your crypto.
- Use your crypto funds to make retail purchases.
- Investments in institutions can also be backed.
- Gemini’s API key can be acquired with public access.
- Gemini services have been introduced in 50 countries.
How to compare Gemini vs Coinbase on their traits?
Here’s how you can look at the comparison between the two and decide on which platform to choose for your crypto-related tasks. Let’s walk you through the whole Gemini vs Coinbase debate:
On the basis of features
- Coinbase has a simple user interface that allows you to trade and exchange crypto and grants you to make payments with credit cards.
- Gemini has an easy interface; buy, sell and trade crypto; public access to third-party application API keys.
On the basis of Supported Currencies
- Coinbase offers 50 different cryptocurrencies along with one of their crypto coins.
- Gemini on the other hand offers 40 different cryptocurrencies other than one of their stable coin.
On the basis of transactions
- On Coinbase, you can buy, sell, send, receive, and exchange your digital currencies.
- Gemini allows you to buy, sell, trade, deposit and withdraw your crypto funds.
On the basis of Security measures
- A 2FA via text messages/Google Authenticator, cold storage, and multi-signature wallets for Coinbase.
- A 2FA via text messages or the Authy App, and insurance for your digital assets on the Hot Wallet.
Note: Here’s contributing to the “Gemini vs Coinbase” debate and will give you a much better understanding of both the crypto exchange platforms.
Gemini vs Coinbase is a well-renowned subject for debate for people who have an interest in crypto trading and investments. That is because both of these platforms have great perks and are best at what they offer. Even though Coinbase is titled the best exchange platform in the whole of the United States, Gemini has been successful at competing with it effectively. The read above will give you all the bases for comparison that would help you decide which of these platforms suits you best.