Gemini vs coinbase6/19/2023 ![]() You will, however, need to pay 1.49% when you get around to cashing out. This 3.99% fee is a direct purchase charge - meaning that you won't pay the previously discussed 1.49% standard commission to enter the market. This is huge, especially when you consider that there are cryptocurrency platforms out charging less than 1%. At the forefront of this is the fee charged on debit card deposits.Ĭoinbase, for example, will charge you a deposit fee of 3.99% of the transaction amount. When it comes to non-trading fees, our Coinbase vs Gemini review team found that things get even more expensive. For example, eToro allows you to purchase digital currencies on a spread-only basis - which is the gap between the bid and ask price. If you chased out your Ethereum investment when it was worth $1,200 - your 1.99% commission would then amount to $23.88.Īs we cover in more detail later in this Coinbase vs Gemini comparison - there are much cheaper options available in the cryptocurrency day trading scene.For example, if you were to buy Ethereum at a stake of $600 - you'd pay a commission of $11.94.As such, the total commission payable on trades amounts to 1.99% per slide. However, in addition to this, Gemini will also charge you 1.49% as a standard commission - which mirrors that of Coinbase. This is because the provider charges just 0.5% as a convenience fee when you buy or sell digital currencies. Over at Gemini, it appeared at first glance that the platform was much cheaper in the commission department. If you chased out your Bitcoin investment when it was worth $1,200 - your 1.49% commission would then amount to $17.88.Īs you can imagine, if you were to purchase or sell a significant amount of cryptocurrency from Coinbase, you'd pay a very hefty fee.For example, if you were to buy Dogecoin at a stake of $600 - you'd pay a commission of $8.94.This means that you will pay 1.49% to purchase your chosen digital coin and another 1.49% when you cash out. ![]() Starting with Coinbase, the platform will charge you 1.49% in standard trading commission. Not only in terms of trading commissions, but the fees charged on fiat deposits. Coinbase vs Gemini Feesīefore we break down the fee structure in more detail, we should note that our Coinbase vs Gemini comparison found that both platforms are somewhat expensive. Much like Coinbase, this covers the most popular cryptocurrencies in terms of market capitalization, alongside a smaller selection of medium-cap projects. Over at Gemini, the exchange allows you to buy, sell, and trade more than 40+ digital currencies. After all, for many years the broker supported just four digital assets until management decided to broaden the platform's scope. Unlike a lot of other cryptocurrency trading platforms in this industry, Coinbase is very selective in the digital coins it adds to its site. You can, however, also invest in a number of ERC-20 tokens. This covers the core basics - such as Bitcoin, Ethereum, Litecoin, Ripple, EOS, and Bitcoin Cash. Starting with Coinbase, the platform gives you access to 64 cryptocurrencies. So now that we have covered the pros and cons, in this section of our Coinbase vs Gemini comparison we are going to explore what digital currencies the two platforms support. Gemini, on the other hand, is more suited to institutional investors. This huge popularity with beginners has not only resulted in Coinbase attracted over 35 million customers, but it is now listed on the NASDAQ as a public company. That is to say, Coinbase is often the go-to platform for newbies that are looking to buy cryptocurrency for the first time. In terms of clientele, Coinbase is more suited to the average Joe Trader. With that said, Gemini has taken its regulatory standing to the next level – as it is licensed by the New York State Department of Financial Services. Furthermore, both Coinbase and Gemini are US-based and thus – heavily regulated. The Gemini exchange was launched a few years later in 2015.īoth providers are renowned for their institutional-grade security services, especially when it comes to wallet safety. Coinbase itself was founded back in 2012, making it one of the most established exchanges in this space. In turn, Coinbase and Gemini charge an assortment of fees and commissions. This means that the two platforms allow you to buy and sell digital coins like Bitcoin, Ethereum, Ripple, and more from the comfort of your home. Put simply, Coinbase and Gemini are both cryptocurrency exchanges and brokers. ![]()
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