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Gemini vs Coinbase which is the best choice?

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Are you looking to buy or sell cryptocurrencies and you might have heard about both Gemini and Coinbase? And now you are wondering which one you should use?

Or maybe you are already a Coinbase or Gemini user? And now you are thinking about moving to the other exchange?

Either way I wanted to give my thoughts on the matter and provide you with an in-depth comparison of both of these two popular cryptocurrency exchanges. So that you can get some more insight into which one to pick!

I think either one would be an excellent choice to use, but lets see how they compare to each other.

Comparing Gemini vs Coinbase

In this comparison of Gemini and Coinbase I will score them from four separate categories:

  1. Ease of use 1-5*
  2. Payment methods 1-5*
  3. Cryptocurrencies available 1-5*
  4. Fees 1-5*

And based on these four areas we will have a winner.

The rating is based on my own experiences using both Coinbase and Gemini. So you might disagree slightly, but I hope it feels overall like a fair score for each area. I will give you my reasoning for rating them with a particular score.

Here the total score is. To find out more how I made these ratings read on.

Gemini vs Coinbase which is the best choice?

Ease of use

Payment options

Cryptos available

Total score

About Gemini

Gemini popular US exchange website

Gemini was founded by the Winklevoss twins, famous for their previous Facebook involvement. After settling with Mark Zuckerberg the twins received a settlement sum that they invested straight into Bitcoin.

Fast forward a few years they are now a lot richer, and founders of the popular cryptocurrency exchange Gemini.

Crypto is not just a technology, it’s a movement

And from here on the brothers interest in Bitcoin and cryptocurrencies are clear to see. And they have since the launch of Gemini focused on usability and creating a user-friendly place where people can easily buy Bitcoin and cryptocurrencies.

Much similar to the approach setup of Coinbase.

Gemini was voted 2019 Markets Choice Awards as the “Best Crypto Exchange” by Markets Media.

Gemini similar to Coinbase focuses not only on retail investors but also the institutions that wants to invest in Bitcoin and cryptos.

About Coinbase

Coinbase photo

Coinbase was founded by Brian Armstrong and Fred Ehrsam back in 2012 and has since grown to become one of the true powerhouses of the crypto world, together with Binance.

Coinbase like Gemini delivers a nice-looking experience for any type of user that wants to buy, sell and store cryptocurrencies.

Both for retail investors and institutions alike.

So here Gemini and Coinbase share many similar traits and approach to the crypto market.

Buying and selling cryptocurrencies at Coinbase is probably one of the easiest experiences of all exchanges and brokers. Hence the big interest and starting point for crypto-beginners.

Coinbase have two separate exchanges for retail investors, Coinbase and Coinbase Pro. Learn about the differences here.

Earn up to $158 worth of crypto when signing up and using Coinbase Earn

How user-friendly are they?

Based on an overall experience of registering a new account, making a deposit and withdrawal, buying and selling cryptocurrencies I will find an overall rating for Gemini and Coinbase in the UX / ease of use area.

This is how easy it is to use. How beginner- and user-friendly they are.

Registration – Gemini vs Coinbase

Ok, how does it work for new users to register at both Coinbase and Gemini, we have tried both out and detailed the process for you here below.

Registering at Gemini

Get $10 for free at Gemini when you buy for $100+ when signing up with this link

First head over to www.gemini.com and click on Get Started. Then type in your email and password and the next step is to add your phone number and type in the code you get.

After that you will need to complete some KYC checks and verify your identity.

Overall the registration process at Gemini is straightforward but a few too many steps if you need to complete both ID card + passport verification. Combined with phone and email.

Registering at Gemini

Registering at Coinbase

Registering a new account at Coinbase

Go to www.coinbase.com and click on Get Started. Next you can choose if you are creating a personal account or a business account.

Get $10 for free when buying for at least $100 when signing up with this link

Proceed through the registration steps, add name, email and password.

Then read the information about GBPR and the Privacy Policy, then you can choose to get personalised notifications or not.

Proceed through the next steps and verify your email and identity. And then you’re in.

Overall a similar registration process like at Gemini, but it feels a bit easier with the verification parts.

  • We strongly encourage you to use 2FA with any cryptocurrency exchange account

Deposit & Withdrawals – how does it work?

For both Gemini and Coinbase you have bank transfers to deposit fiat currencies. Then you can of course also deposit cryptocurrencies to your accounts.

For Gemini you can deposit and withdraw cryptocurrencies like at any other wallet. Simply copy the wallet address and use it to send cryptos to.

And withdrawals works the same way but you paste in the address that you want to send to.

Transfer funds to your Gemini account steps

Sending cryptocurrencies to and from your Coinbase account includes the need to add a tag/memo for certain cryptocurrencies that use this technology.

This is basically a note that helps to direct the transaction to the correct wallet account. As Coinbase uses the same account for several cryptocurrencies this is necessary.

Destination tag/memo information at Coinbase

Overall both exchanges are user-friendly. They put a lot of effort in creating an experience that is easy for beginners and with nice-looking sites/apps. Here they are two of the best examples in the business.

But registering at Gemini was too many steps of ID checks for my liking and a bit overwhelming in the process.

Ratings ease of use

Gemini ease of use = 45*

Coinbase ease of use = 5/5*

Payment methods – What is available?

Here we will explore what current payment methods are available at each exchange/broker.

Payment methods available at Gemini

At Gemini you can buy cryptocurrencies using either a Bank Transfer deposit (U.S only) or can be made or a wire transfer for non-US users.

To fund your Gemini account via a bank/wire transfer you will first need to add your bank account to initiate the transfer.

To buy cryptocurrencies from Gemini

Simply add your bank account and then proceed to buy Bitcoin, Ether or the other cryptos from their site

Link bank account to Gemini account

Payment methods available at Coinbase

Coinbase has different payment methods available depending on where you live.

For U.S customers you can use your bank account (ACH) to fund your account, or via a Wire Transfer. And then you can buy cryptocurrencies directly with your debit card.

Payment methods available at Coinbase for US users

For European users, you have similar methods available, with SEPA transfer, Ideal/Sofort but also a credit card + a debit card purchase option.

Payment methods available at Coinbase for European users

You need to link/add your bank account or credit/debit card to Coinbase before you can start buying or depositing funds to your account.

For withdrawals you can sell BTC, ETH, XRP, etc to your EUR/USD/GBP wallet and then withdraw the funds to your bank account.

Rating payment methods

Gemini payment methods = 4/5*

Coinbase payment methods = 5/5*

To buy cryptocurrencies from Coinbase

Add your bank account and make a deposit, when it has arrived (1-2 days usually) you can buy cryptos from your USD/EUR/GBP wallet.

But you can also buy cryptos isntantly at Coinbase using a credit or debit card, add your card and then proceed to buy cryptos from your account at Coinbase

Buy Bitcoin with bank transfer at Coinbase

Cryptos available – which is better?

Neither of them has the widest selection of cryptocurrencies available, compared to Binance. But Coinbase definitely have more cryptos available compared to Gemini.

Gemini has both USD trading pairs and cryptocurrency trading pairs (see pictures below). And about 9 cryptocurrencies available at the moment.

Geminis available trading pairs

And Coinbase has about 25+ cryptocurrencies available across both Coinbase and Coinbase Pro.

Rating cryptocurrencies available

Gemini – cryptos available = 3/5*

Coinbase – cryptos available = 2/5*

Fees – Gemini and Coinbase

At Gemini you have these fees:

  1. Convenience fee – Gemini has something called a convenience fee, which is a flat fee calculated at 0.50% above the current market price for the trading pair
  2. Trading fee – Adding to this they also take a flat fee of $0.99 to 1.49% of the web/mobile order value for transactions ranging from less than $10 up to more than $200k.
  3. Withdrawal fee – Ranging from free to a few cents
  4. API fees (order book) – Taker fee from 0.35% to 0.030% and Maker fee from 0.10% to 0% depending on per 30-day trading volume
Gemini web order fees
Gemini withdrawal fees

At Coinbase you have these fees:

  1. Coinbase Fee – a Flat fee from $0.99 to $2.99 depending on the transaction amount
  2. Spread – This is a margin added on top of the market exchange rate
  3. Standard Buy/Sell fee – 1.49%
  4. Credit/Debit card fee – From 3.99%
  5. Deposits in – From free to $10
  6. Withdrawals out – From free to $25

Looking at the fee structures of both Coinbase and Gemini, I would say Coinbase fees are higher.

What you can do with Coinbase is to make a bank transfer deposit to Coinbase and then market buy the cryptocurrencies with your EUR/USD/GBP wallet with Coinbase Pro to save on fees.

USA payment fees

Rating fees

Gemini fees = 3/5*

Coinbase fees = 1/5*

Conclusion – Who is the winner?

Well here are the results based on my rating of both of these exchanges.

Do you agree with me? If you do or don’t leave a comment below let us know what you think?

Gemini vs Coinbase which is the best choice?

Ease of use

Payment options

Cryptos available

Total score

Now after comparing Gemini to Coinbase I personally feel they are very similar, and it would be a close call deciding on a winner.

But to me, Coinbase takes it home. Only as a slight winner when comparing them.

To me, Coinbase has a greater option of cryptocurrencies, payment options + the option to use Coinbase Pro makes them the better choice.

Both Gemini and Coinbase are very similar. They are user-friendly, reliable, secure and well-trusted by millions of users. But overall Coinbase is a bit more popular amongst crypto investors today.

I would say that Gemini is close to Coinbase on most things and perhaps even better when it comes to fees. So if you valued that and you didn’t mind waiting 1-2 days for a bank transfer then go for Gemini.

They are a good choice for any investor looking for ease of use and security.

Other guides we recommend

  1. The best way to investing in cryptocurrency
  2. How to buy XRP with a credit/debit card
  3. How to buy IOTA
  4. Best Ethereum wallets
  5. Bittrex vs Binance

Source: https://gocryptowise.com/blog/gemini-vs-coinbase-which-is-the-best-choice/

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Organic growth? Bitcoin SV activity up 761% ahead of BSV conference

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Active addresses and transaction counts on the Bitcoin SV network saw unbelievable growth in the two days leading up to the CoinGeek Live conference in New York this week.

Active BSV addresses grew from 110,000 on September 28, to 947,400 addresses today.

That’s an astonishing growth rate of 761%, in just two days leading up to CoinGeek Live, which kicked off on September 30 at 9am New York time, and will run until October 2.

The spike in active addresses raised eyebrows on Crypto-Twitter. Bitcoin SV and Craig Wright antagonist Arthur van Pelt reposted SirToshi’s chart that calls attention to the fact BSV has managed to overtake the Ethereum network in the middle of a DeFi boom. He said sarcastically:

“Seems legit. Organic Growth I think. Has nothing to do with #CGLive I bet’.”

Bitcoin influencer ‘Holdlonaut’ responded with a facepalm emoji.

Transactions on the Bitcoin SV network more than doubled in the same period, from 715.6K to 1,751K today. That’s growth of 145% in the 48 hours leading up to the conference. Average transaction values meanwhile, fell by two-thirds over the same period.

However, it’s possible the spike could simply be a coincidence, as the network does see some unusual bursts of activity on occasion. Active addresses spiked to over 1 million briefly on June 24, and transactions spiked to 5.5 million on July 10.

The CoinGeek Live conference is mostly an online affair and features speakers including nChain’s controversial chief scientist Wright, Bitcoin Association President Jimmy Nguyen and Fundstrat Global managing partner Thomas Lee.

In his opening address, Nguyen said that Bitcoin SV has incentives to discourage bad behavior and noted that the original Bitcoin whitepaper mentions the word “honest” 15 times.

According to CoinGeek’s report on Nguyen’s address, Bitcoin SV currently processes more 2,800 transactions per second on its mainnet, and is aiming for 50,000 in the near future. The forthcoming Teranode enterprise-tier protocol aims to have 1TB transaction blocks.

Nguyen said that Bitcoin SV is “the foundational rule set for an entire network,” and is “re-inventing the internet.”

In somewhat related news, the Supreme Court of Norway has rejected Craig Wright’s jurisdictional appeal. The Satoshi claimant had been trying to sue Hodlonaut for libel in the UK but will now have to go through Norwegian courts.

Hodlonaut said the court has awarded him another $6000 in costs on top of the $60,000 in costs already awarded:.

Source: https://cointelegraph.com/news/organic-growth-bitcoin-sv-activity-up-761-ahead-of-bsv-conference

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President Maduro: Venezuela Seeks Opportunities To Use Cryptocurrency For Global Trade

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  • Venezuela’s cryptocurrency story continues as the country’s President Nicolas Maduro has presented new use cases. 
  • A recent report informed that the South American nation is studying the possibility of using digital assets in trades alongside the national Petro. 
  • President Maduro has presented new anti-sanctions law in the Constituent National Assembly. In a recent speech, he asserted:

“The anti-sanctions law is the first response to give new strength to the use of petro and other cryptocurrencies, national and global, in domestic and foreign trade, so that all cryptocurrencies of the world, state and private, could be used. This is an important project that is under development.”

  • The news comes after Maduro suggested last year that his country could adopt cryptocurrency payments.
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  • Additionally, Venezuela signed a new tax agreement this summer that enabled the nation to start collecting taxes and fees in the Petro.
  • A study reported by CryptoPotato revealed that digital assets already play an essential role in the country’s struggling economy. Venezuela’s intensifying financial crisis has catalyzed significant interest in cryptocurrencies as people seek opportunities to escape the devaluating national currency.
  • The Bitcoin peer-to-peer volume exemplifies the growing interest in the primary cryptocurrency within the country. As per data from coin.dance, the BTC P2P volume on LocalBitcoins has been continuously surging in the past several months.
Bitcoin P2P Trading Volume LocalBitcoins. Source: coin.dance
Bitcoin P2P Trading Volume In Venezuela on LocalBitcoins. Source: coin.dance
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Source: https://cryptopotato.com/president-maduro-venezuela-seeks-opportunities-to-use-cryptocurrency-for-global-trade/

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Leader That Allowed Scams: TRON’s Justin Sun Responds to Claims by Ex-Employees

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Yesterday The Verge published an elaborate article portraying a picture of Justin Sun’s leadership at BitTorrent post the peer-to-peer file-sharing site’s acquisition by the TRON foundation.

Sun later responded to the ‘false-claims’ made by TRON/BitTorrent’s ex-employees in the article with ‘An Open Letter to Anyone Who Cares to Read’ on Medium.

Claim: Megalomaniac Leader; Response: True Libertarian

In the supposedly expose piece, author

Refuting the above portrayal of his leadership, Sun, in his response, stated that he has devoted his entire life ‘to being a responsible, global citizen’. Adding to this, Justin said that is a true champion of libertarian principles for a significant portion of his life.

I have devoted myself to being a responsible, global citizen throughout my entire life, spending significant portions of my personal and professional life to activities promoting universal values of respect, liberty, equality, and kindness.

The TRON and BitTorrent chief impressed further on his ‘global’ approach to things. He explained that the TRON Foundation harbors a ‘global team of talented contributors and developers’. And that he takes ‘pride in working’ with this global community to make TRON ‘one of the greatest decentralized blockchain protocols’.

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Claim: Freedom Suppressor; Response: Upholder Of Human Rights, Individual Values

Dunaway reportedly engaged in conversations with folks who are/were associated with the TRON brand and the work culture. From what he gathered, Justin enforced a draconian company culture, with employees officially following the ‘9-9-6’ norm.

According to the article, TRON’s HR had Slack replaced with its Chinese counterpart DingTalk. The communication platform had an in-built surveillance mechanism that would use ‘Apple Health to count people’s steps’. Also, DingTalk used to ping employees literally all the time.

To this, Sun responded by saying that he has left no stone turned in, establishing a work culture that respects.

diversity and individuality through a culture that cherishes fundamental human values freedom of speech, user privacy, intellectual property protection, kindness, a diversified working environment, and compliance with legal standards.

Justin went on to comment that TRON and BitTorrent operate with a ‘globally collaborative team’. One that upholds and respects the ethos of cross-culture teams. Sun claimed that the folks at TRON folks have ‘worked hard’ to create a collaborative work culture. One that values freedom of speech and individual privacy.

Claim: Suppressed Criticism, Allowed Scams; Response: No Control Over Protocol Functioning

The Verge piece mentioned that ‘decentralization’ was just a facade for what was happening behind the curtains. Justin Sun and his core officials exercised strict control over content moving about and within the TRON network.

This involved allegedly paying a Redditor to ‘erase negative posts’. Which later drew the ire of the community.

Free speech is part of the ideology of decentralization, where ideas flow without gatekeepers. Tron started deleting any post it wanted.

The article also claimed that TRON’s administration team was silent and allowed the perpetration of scams on the network. While this happened, scammers and the scammed continue to grow in numbers while the management did nothing to interfere.

Justin, in his Medium post, said that he and the entire TRON administration team function sans control. Even though the team at TRON works to upgrade the platform, they do not exercise any censorship/regulation.

…we have no control or discretion over what applications use the protocol, what data is transmitted, or how its community members use it.

Sun went to add that he and his team are proud of TRON and BitTorrent’s achievement over the years. He went to quote that both have collectively ‘served 2 billion users around the world. These include ‘numerous enterprises, universities, and governments’.

Lastly, the TRON and BitTorrent boss struck down all claims made by ex-employees Lucasz Juraszek, Richard Hall, and Cong Li. Justin declared that the TRON foundation’s legal counsel has submitted all the requisite proofs and evidence pieces to the court. “We believe the decision will speak for itself”, he said.

BTT and TRX’s price didn’t seem to undergo any correction following the release of the bitterly scathing Verge piece. On the contrary, BTT is actually up 2.3% in the last 24 hours.

Featured image courtesy of QZ.com

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Source: https://cryptopotato.com/megalomaniac-leader-that-allowed-scams-trons-justin-sun-responds-to-claims-by-ex-employees/

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