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Gemini and Coinbase are two of the most popular and highly rated crypto exchanges for U.S. investors. They offer many of the same benefits, including top-notch security, quality educational content, and the opportunity to earn interest on your crypto holdings.
Since these exchanges are so similar, choosing between them can be challenging. To help figure out which one is a better fit for you, our guide to Gemini vs. Coinbase will cover how they rate in the areas that matter most.
Gemini vs. Coinbase: At a glance
| Offer |
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|---|---|---|
| Rating |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
| Commissions |
$0.99-$2.99 orders < $200, 1.49% for orders at least $200 (default), 0% - 0.40% (Gemini ActiveTrader)
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Variable fees (Coinbase), 0%-0.80% (Coinbase Advanced Trade), $29.99 monthly (Coinbase One)
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| Next Steps |
Gemini vs. Coinbase: Fees
Gemini has lower transaction fees than Coinbase, but it's not a big difference, and the exchanges have similar fee structures. If you stick to their most affordable trading options, you can expect to pay 0.40% or less on Gemini and 0.60% or less on Coinbase.
Before we get into their trading fees, it's important to mention one of the unique things about how these exchanges operate. Gemini and Coinbase each have separate fee structures depending on which of their trading interfaces you use. Both exchanges have a more basic default option and an advanced option with lower fees.
The advanced options are Gemini ActiveTrader and Coinbase's advanced trade tool. They each use a tiered fee structure where fees are determined by your 30-day trading volume. Their fee tables also use a maker-taker model. You're charged the taker fee if your trade is filled immediately by an existing order on the order book, and you're charged the maker fee if it isn't.
Here are the fees for Gemini ActiveTrader:
| 30-DAY TRADING VOLUME IN U.S. DOLLARS | TAKER FEE | MAKER FEE |
|---|---|---|
| Up to $10,000 | 0.40% | 0.20% |
| $10,000 to $50,000 | 0.30% | 0.10% |
| $50,000 to $100,000 | 0.25% | 0.10% |
| $100,000 to $1,000,000 | 0.20% | 0.08% |
| $1,000,000 to $5,000,000 | 0.15% | 0.05% |
| $5,000,000 to $10,000,000 | 0.10% | 0.03% |
| $10,000,000 to $50,000,000 | 0.08% | 0.02% |
| $50,000,000 to $100,000,000 | 0.05% | 0.00% |
| $100,000,000 to $500,000,000 | 0.04% | 0.00% |
| $500,000,000 or more | 0.03% | 0.00% |
Data source: Gemini.
Here are the fees for advanced trades on Coinbase:
| 30-DAY TRADING VOLUME IN U.S. DOLLARS | TAKER FEE | MAKER FEE |
|---|---|---|
| Up to $10,000 | 0.60% | 0.40% |
| $10,000 to $50,000 | 0.40% | 0.25% |
| $50,000 to $100,000 | 0.25% | 0.15% |
| $100,000 to $1,000,000 | 0.20% | 0.10% |
| $1,000,000 to $15,000,000 | 0.18% | 0.08% |
| $15,000,000 to $75,000,000 | 0.16% | 0.06% |
| $75,000,000 to $250,000,000 | 0.12% | 0.03% |
| $250,000,000 to $400,000,000 | 0.08% | 0.00% |
| Over $400,000,000 | 0.05% | 0.00% |
Data source: Coinbase.
Trading fees are extremely similar on Gemini's default interface and Coinbase's simple trade tool. Smaller trades (up to about $200) carry a flat fee ranging from $0.99 to $2.99 depending on the exact order size. Larger trades carry a variable percentage fee of 1.49% on Gemini. Coinbase doesn't provide an exact amount on its website, but its percentage fee is about the same.
For an idea of how much each exchange would cost you in fees, here's how much they'd charge on a $1,000 Bitcoin (BTC) purchase:
| Crypto exchange | Fee on $1,000 Bitcoin purchase |
|---|---|
| Gemini | $14.90 |
| Gemini ActiveTrader* | $4.00 |
| Coinbase (Simple Trade) | $14.68 |
| Coinbase (Advanced Trade)* | $6.00 |
Data source: Gemini, Coinbase *Gemini ActiveTrader and Coinbase Advanced Trade fee amounts are based on their lowest pricing tiers.
Gemini vs. Coinbase: Cryptos available
Coinbase has a larger selection of cryptocurrencies than Gemini, although neither exchange is lacking in this regard. There are over 200 cryptocurrencies available for trading on Coinbase and over 100 cryptocurrencies on Gemini.
Both exchanges have large cryptocurrencies, like Bitcoin and Ethereum (ETH), as well as plenty of smaller ones. But Gemini is missing a few major cryptos that you can find on Coinbase, most notably:
While Gemini also has cryptos that you can't get on Coinbase, they're not that popular. Most of them are ranked well outside of the top 100. One of the few exceptions is Fantom (FTM), a fairly large crypto that is on Gemini but not Coinbase.
Gemini vs. Coinbase: Wallets
Both exchanges offer hot wallets, meaning digital wallets that are connected to the internet, with a few key differences. Gemini Wallet® is a custodial wallet, a type of wallet controlled by a third party. That means any crypto funds stored there are technically controlled by Gemini. Gemini Wallet® is also only available to clients of the exchange.
Coinbase Wallet is a non-custodial wallet, so funds you store there are completely under your control. You also don't need to be a Coinbase client to use this wallet. It's free of charge and available to anyone, whether they have a Coinbase account or not.
RELATED: Check out The Ascent's picks for the Best Crypto Wallets
Gemini vs. Coinbase: Security
Gemini and Coinbase are two of the best cryptocurrency exchanges in terms of security. They both have advanced security features, safe storage methods, and excellent account protections. If you're looking for a safe place to buy, sell, and store crypto, you can't go wrong with either of these exchanges.
Both exchanges report that they keep the majority of their clients' crypto funds in cold storage, meaning in offline wallets. Coinbase specifies that over 98% of deposits are stored offline. This provides greater security, because cold storage isn't vulnerable to being hacked. They also both carry insurance policies to cover digital assets stored in hot wallets online and pass-through FDIC insurance of up to $250,000 per client with the U.S. banks they use for storing cash deposits.
In addition to their storage methods, here are a few more important protections offered by Gemini and Coinbase:
- They make two-factor authentication (2FA) mandatory. 2FA requires that you provide two types of authentication, such as your password and a code sent to your phone, to log in. This helps prevent unauthorized access to your account.
- They give you the option of setting up approved withdrawal addresses. If you do, crypto withdrawals from your account can only be made to wallet addresses on your whitelist/allowlist.
- They regularly go through security audits and penetration testing. Both exchanges run bug bounty programs and regularly have third parties check for potential security issues.
Final take
You can't go wrong with either Gemini or Coinbase. They're both top exchanges for a reason, as they provide user-friendly crypto trading platforms with excellent security and no real weaknesses.
Of the two, Coinbase has a notable edge in terms of cryptocurrency selection. If you plan to invest in lots of different coins, then Coinbase is likely the right exchange for you.
Gemini will save you money on trading fees, as long as you use Gemini ActiveTrader. There's not a huge difference in commissions between the two exchanges, but for long-term cryptocurrency investing, even small amounts add up.
The Ascent's best cryptocurrency apps
There are hundreds of platforms around the world that are waiting to give you access to thousands of cryptocurrencies. And to find the one that's right for you, you'll need to decide the features that matter most to you.
To help you get started, our independent experts have sifted through the options to bring you some of our best cryptocurrency exchanges for 2022. Check out the list and get started on your crypto journey, today.
Our Cryptocurrency Expert
Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. He writes for The Ascent and The Motley Fool, and his work has appeared in USA Today and Yahoo! Finance. He was born in California but currently lives as a digital nomad with a home base in Colombia.
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Lyle Daly has positions in Bitcoin, Cardano, Ethereum, Polkadot, Solana, Tether, and USD Coin. The Motley Fool has positions in and recommends Avalanche, Bitcoin, Cardano, Ethereum, Solana, and Target. The Motley Fool has a disclosure policy.