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Bottom line: Gemini is best for retail traders who want the highest interest rewards, as well as advanced traders in search of lower maker/taker fees. Coinbase excels when it comes to its investment choices (it offers 170+ crypto assets), crypto resources for institutions, and overal product selection.
Gemini vs. Coinbase: The biggest differences
Gemini and Coinbase are both top crypto exchanges. Both platforms offer more than 100 cryptocurrencies, both provide multiple educational resources for beginners, and retail traders and institutions are supported at either exchange.
However, Coinbase offers a larger crypto selection (it currently has more than 170 crypto assets), and it provides a wide array of services for both institutions and developers. Plus, it supports NFT trading and futures. It’s generally the better option for institutions and retail traders who want flexibility when it comes to investment choices.
Gemini also offers multiple institutional services, but it’s a better choice for interest rewards since it has both higher APY rewards and a stronger selection of interest-earning cryptocurrencies. Coinbase currently lets you earn up to 5.75% interest; however, Gemini offers up to 8.05% interest. Plus, you can rack up interest on 51 different assets. Coinbase Earn currently supports six different cryptocurrencies.
In addition, experienced traders will pay less to use Gemini’s advanced trading platforms. You’ll pay 0.40% or less with Gemini Active Trader. However, you’ll pay 0.60% or less with Coinbase Pro and Coinbase Advanced Trade.
Gemini and Coinbase’s features and account options also vary.
Gemini
Coinbase
Account types
Personal investment
Institutional
Account types
Personal investment
Institutional
Investment choices
Cryptocurrencies
Investment choices
Cryptocurrencies
Account perks
100+ cryptocurrencies
Interest rewards of up to 8.05% with Gemini Earn (with this feature, you can receive interest rewards on crypto you’ve purchased by transferring it to Gemini Earn); digital wallet services
Gemini Credit Card offers up to 3% crypto rewards on purchases
Gemini Custody offers institutions $200 million in insurance coverage, account representatives and 24/7 customer support, instant liquidity on trades, and multi-layered security
Institutions can utilize separate exchange perks along with a post-trade settlement platform
Cryptopedia platform offers educational content on all things crypto
Two-factor authentication; address allowlisting lets users limit crypto withdrawals to specified, allowlisted addresses
Platform stores private keys at offsite data centers
Account perks
170+ cryptocurrencies
Two advanced trading platforms and apps: Coinbase Pro and Coinbase Advanced Trade
Get $1 million account protection, zero trading fees, 24/7 priority support, and more with Coinbase One
Coinbase learning rewards pay you in crypto for watching educational videos about different assets
Interest rewards of up to 5.75% with Coinbase Earn (this allows you to earn interest on certain assets for simply holding them for a set period of time)
Digital wallet services
Beta version of NFT platform offers charges 0%
Coinbase Card offers crypto spending perks
Human advisors available?
No
Human advisors available?
No
Robo-advice?
No
Robo-advice?
No
Is Gemini right for you?
Pros
100+ cryptocurrencies; competitive fees for Gemini Active Trader advanced platformCan earn up to 8.05% interest on cryptoGemini Credit Card offers up to 3% crypto rewards on purchasesBeginners can utilize Cryptopedia and multiple other resources (e.g., webinars and Q&As) to learn more about crypto trading
Cons
No margin trading or NFTsWallet provided by exchange is custodial, so you’ll have limited control over the assets it contains
Gemini offers more than 100 cryptocurrencies, including bitcoin, ethereum, dogecoin, and more. Its investment selection supports roughly 10 coins, seven stablecoins, seven SPL tokens, and 85 ERC tokens (see it’s complete crypto selection here). Many top crypto exchanges (e.g. Kraken, Crypto.com, and Coinbase) offer well over 100 assets, so this is a competitive investment selection.
Plus, the crypto platform’s available products include a web exchange, Gemini Active Trader, Gemini Earn, staking, credit card rewards, Gemini Dollar, Gemini Custody, Gemini Clearing, Gemini Wallet, and Gemini Mobile. Its web exchange is just that — a place where you can buy or sell cryptocurrencies through its web platform.
This stacks up well against Coinbase’s offerings. However, Gemini doesn’t currently offer any NFT services, so Coinbase has a leg up when it comes to that area.
Gemini Active Trader is specifically designed for advanced traders looking to utilize things like multiple order types, faster trade execution, advanced charting tools, and trading pair selectors. While Gemini Earn lets you receive up to 8.05% interest on crypto balances, Gemini Staking lets you earn rewards on your crypto without any minimums or fees.
You can also earn up to 3% in crypto rewards (these apply to bitcoin, ether, and more than 60 other crypto assets) with the exchange’s credit card, and you can use the Gemini Dollar (GUSD) stablecoin for decentralized exchanges and more.
Institutional clients will prefer its custody services. These offer several competitive features, including no minimums or setup fees, $200 million in insurance coverage, account representatives and 24/7 customer support, instant liquidity on trades, and multi-layered security.
The exchange’s fee schedule is fairly complex. It currently offers five different types. These include mobile fees, web fees, Gemini Active Trader fees, custody fees, and transfer fees. For instance, for orders you make through the mobile app, the lowest you’ll pay is $0.99 if the transaction amount is less than $10. You’ll pay 1.49% if the transaction is greater than $200. See more on its fee schedules here.
As with many crypto exchanges, there are also two ways to fund your account: fiat money or existing cryptocurrencies. Plus, you can only purchase up to $1,000 per day with debit cards. And when it comes to withdrawals, you’ll only be able to do so if it’s for a minimum of $50.
Is Coinbase right for you?
Pros
More than 170 cryptocurrencies availableCoinbase One subscription includes $1 million account protection, zero trading fees, and 24/7 priority supportTwo trading options for advanced users: Coinbase Pro and Coinbase Advanced TradeCan earn up to 5.75% in interest; users can take advantage of a Coinbase non-custodial wallet if they choose to store their assets through the platform
Cons
Lower balances result in higher feesLimited staking options
Coinbase offers 170+ cryptocurrencies, with trading options for individuals, institutions, and NFT creators and buyers.
If you’re a retail trader, you’ll be able to buy or sell through both its web, mobile, Coinbase Pro, and Coinbase Advanced Trade platforms. The Coinbase Pro account differs from the standard account in that it caters to more advanced traders. It also offers separate mobile platforms and allows for additional order types (e.g., limit and stop orders), trading APIs, charting tools, and more.
Its Advanced Trade account option was launched recently, and it gives you more trading perks than Coinbase Pro. It also has its own platform, but it charges the same fees as Coinbase Pro. You’ll therefore incur a 0.60% taker fee or a 0.40% maker fee if you fall within the $0-$10,000 price tier range.
As for its benefits, it lets you earn up to 5% in interest rewards on algorand (ALGO), ethereum (ETH2), US dollar coin (USDC), dai (DAI), cosmos (ATOM), and tezos (XTZ). Plus, you’ll get access to the same market trading pairs on Coinbase Pro, and you can take advantage of market, limit, and stop limit orders. This account option also offers more security features and charting tools than Coinbase Pro.
Some of the other products individuals can take advantage of include Coinbase One (this subscription gives you access to $1 million account protection, zero trading fees, 24/7 priority support, and analytics and market research), NFT trading, learning rewards, staking, bitcoin-backed loans, futures trading, and more.
Coinbase also offers a separate collection of services for institutions. These include Coinbase Institutional, its Coinbase Prime trading exchange, ventures services, commerce services, compliance services, and more. In addition, it supports developers looking to build Web3 apps, as well as those looking to add crypto payment options to their platform (you can see a full list of its offerings for individuals, institutions, and developers here).
Gemini vs. Coinbase — Frequently asked questions (FAQ)
Is Gemini a safe crypto site?
In February 2022, a Gemini crypto hack led to the loss of roughly $36 million in assets of clients with crypto IRAs held through IRA Financial Trust. IRA Financial Trust sued Gemini, and both Gemini and IRA Financial Trusts became the targets of client lawsuits.
However, Gemini continues to implement several security measures to make sure your crypto remains safe. It participates in regular bank exams, as well as cybersecurity audits led by the New York Department of Financial Services. The exchange also utilizes two-factor authentication, and it says it conducts annual tests to make sure its platform has no security vulnerabilities (see more on its security measures here).
Can Coinbase be trusted?
Hackers stole crypto assets from at least 6,000 customers in 2021, according to a Coinbase disclosure. In addition, a class action lawsuit filed in August 2022 alleges the exchange failed to secure customers’ accounts.
But you’ll have to decide for yourself if Coinbase is trustworthy. Overall, the platform offers features like two-factor authentication, password protection, 24/7 customer support, multi-approval withdrawals for Coinbase Vault, security prompts, and more.
How do you withdraw your money from Coinbase?
Make withdrawals by either using its web platform or its mobile apps. You can cash out funds through the web platform by selecting your account balance under “Assets.” You’ll then select the amount you’d like to withdraw by navigating to the “Cash Out” tab. After you’ve chosen a transfer destination, you’ll need to hit “Cash out now” to complete the transaction.
On the mobile app, you can perform this action by clicking on “Cash Out” under “More” on the home section. You’ll have to select a withdrawal amount and destination, and then the app will take you to a “Preview cash out” page.” If the amount and details look good, you can complete the withdrawal by selecting “Cash out now.”