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General Information
| Coinbase Pro | Gemini | |
| Year of foundation | 2014 | 2014 |
| Country | USA | USA |
| Languages | English, Portuguese, German, French, Spanish, Italian, Dutch | English |
| Mobile app | iOS | – |
Registration and Verification
Coinbase Pro
Creating a Coinbase Pro account is a relatively simple process. You submit your personal information, email, phone number, and photo ID; then, you must wait for your account to be verified. But without verification, you will not have access to some functions, and there will be limits on funds. Verification will take some time and requires your photo.
Gemini
Only residents of a limited number of countries such as the United States, Canada, Hong Kong, Singapore, South Korea, and the United Kingdom may register for Gemini: USA, Canada, Hong Kong, Singapore, South Korea, and the United Kingdom. Two types of registration are available: for institutional investors and private traders. When registering, the information from the basic verification must be filled out right away because the exchange operates in the legal field and is subject to regulators’ requirements.
Depositing and Withdrawing Funds
Coinbase Pro
Replenishment of the wallet is available only to registered users of the platform. The disadvantage of Coinbase Pro is the lack of gateways for prompt replenishment of fiat accounts. To start working on the exchange, you will first need to buy cryptocurrency elsewhere and send it to your wallet. Only after these procedures, which may seem difficult for a beginner, a user can start working. The functionality for withdrawing cryptocurrencies is also not very complicated. There are also no tools on the platform to transfer digital assets into fiat.
Gemini
Depositing an account on the exchange can be done with dollars or cryptocurrencies; to deposit with dollars, you need to fill in your bank details. Withdrawal is also available in fiat and cryptocurrency. Commissions are not charged for deposit and withdrawal, but there may be a commission from the bank, in the case of dollars, or a fee to miners for confirmation in the network, in the case of cryptocurrencies.
Trading Volumes and Traded Pairs
Coinbase Pro
Coinbase Pro consistently handles $100-200 million in volume per day, according to CoinGecko statistics. Coinbase Pro is focused on giving traders access to the most liquid assets. The policy has resulted in constant work on adding new projects to the listing and eliminating cryptocurrencies that are not in demand. Another feature of the exchange is a strict differentiation of trading pairs, depending on the user’s region. Before providing access to work with this or that asset, the company’s specialists study a particular jurisdiction’s legal framework, comparing it with the peculiarities of the cryptocurrency of interest.
Gemini
There are a total of 15 trading pairs at the exchange, including pairs with the U.S. dollar. The trading volume varies from $5 million to $30 million a day.
Commission
Coinbase Pro
Deposits are charged only if you use the Wire Transfer service to deposit dollars. The amount of commission is $10 for each transaction. Withdrawal in the same direction will cost $25. Withdrawals via SEPA service will cost traders 0.15 euros for each operation. The commission for trades on Coinbase Pro depends on the user’s trading volume and averages from 0.25% to 0.1% of the transaction amount. To lower the commission, you need to increase the trading turnover. When the turnover reaches 1.6 thousand bitcoins in 30 days, the trading commission is reduced as much as possible.
Gemini
Gemini does not charge any deposit fees. Some fees may be incurred depending on the method and bank from which you send money. The prices the exchange charges for exchanges depend on how many transactions the user has made recently. There are six levels, representing different amounts of bitcoin or ether bought or sold. They range from comfortable traders to those who exchange vast quantities of cryptocurrencies. Every day at midnight UTC, the commissions are calculated again for each trading pair.
Security
Coinbase Pro
The company and its platforms are fully compliant with all U.S. laws and regulations. The exchange keeps its users’ funds segregated, with 98% stored in cold storage. Other protection measures include 2-factor authentication and an intricate identity verification process.
Gemini
One of the company’s advantages – great attention is paid to the security of the process of cryptocurrency trading today. It is one of the most reliable sites, having financial regulation of the Department of Financial Services of New York. The following solutions are also used for safety: consumer funds are located in cold storage, Multi-Signature technology is used, users must use two-factor authentication. Traders’ reviews of the Gemini exchange are mostly positive.
Pros and Cons
Coinbase Pro
Gemini
I have been studying cryptocurrency for over 5 years. I have accounts in every exchange and I test everything on myself.
I want this market to be more understandable for everyone.