Gemini is the first exchange in the world to receive a license to trade Ethereum cryptocurrency. The popular and actively developing American cryptocurrency trading platform offers a lot of advantages and unique options for traders.
Cryptocurrency exchange Gemini provides an opportunity to buy and sell such common coins as Bitcoin, Bitcoin Cash, Ethereum, Zcash, as well as fiat money – USD. The main currency of the site is the Gemini Dollar (GUSD), which is an analog of the U.S. dollar, and its base – blockchain technology. In this case, the financial market has many popular platforms (e.g., BITKOP, DigiFinex, B2BX, etc.), which work with the currency GUSD.
Among the features of the crypto-exchange are the daily bitcoin coin closing auctions introduced in 2016 and the abolition of the classic transaction confirmation system, which was achieved by creating records in the blockchain. This approach increased the speed of deposits. In addition, the site partnered with a large Chicago-based options company, making it possible to launch a useful cryptocurrency derivatives tool for investors.
Coinbase Crypto Exchange
Coinbase is one of the leading cryptocurrency exchanges in the world and its importance to the development and future growth of the cryptocurrency market is undeniable. Its mission has always been to work to improve the open financial system, which first became possible with the creation of Bitcoin and blockchain technology in 2009. However, no one cryptocurrency exchange can be perfect for everyone. Coinbase has been criticized for its limited selection of cryptocurrencies and slightly higher fees. Moreover, some traders avoid Coinbase because of its strict verification policies, including KYC checks.
Crucially, cryptocurrency exchange Coinbase has announced plans to launch a trading platform that will allow users to create, collect and trade NFT or non-mutually exchangeable tokens. Interested users will be able to get early access to the marketplace before its official launch. This gives it a significant advantage over Gemini.
Gemini vs. Coinbase
For people who want to accumulate bitcoins and hold on until bitcoin reaches a million dollars, commissions are not necessarily a critical issue. For active traders, however, commissions can rise quickly. In addition to typical trading commissions, most exchanges have a number of fees for depositing and/or withdrawing funds. These commissions usually depend on how clients make deposits. & withdrawals such as credit or debit cards, bank transfers, etc. Let’s compare Coinbase and Gemini.
– Coinbase Commissions. Coinbase does not charge fees for storing assets and transferring them between the crypto-exchanges internal wallets. At the same time, the platform warns that the system asks for a network fee in order to conduct a transaction. It’s about payments to the miners who conduct transactions and other costs. The developers promise to disclose full information about the commissions to the users at the time of processing the transaction.
– Gemini Commissions. Gemini fees can be as high as 1.99% of the total transaction amount. The final amount of fees depends on a number of factors, including the cryptocurrency storage method settings. To learn more about the crypto exchange’s fees, check out the relevant section on the platform’s website.
CoinMarketCap is one of the largest aggregators of digital asset market data. The platform evaluates crypto exchanges based on several criteria, including web traffic metrics; liquidity ratios; volume, as well as trust indicator data (confirming the validity of trading volume). Depending on the metrics, the system assigns a score from 0.0 to 10.0 to the platform. Both platforms are among the top 15 largest crypto exchanges, according to the trading volume on the spot market resource CoinMarketCap.
Thus, the battle between Gemini vs Coinbase was won by the latter crypto exchange. The platform, unlike its opponent, is represented in many countries. Also, Coinbase beats Gemini in several other indicators, including the number of cryptocurrencies available for work.