Coinbase Vs Gemini: What’s the difference?
It would be almost impossible not to notice the buzz surrounding cryptocurrency right now. Though it used to be a niche digital currency used by those who spend a lot of time online, crypto has become a legitimate factor in the global economic system. As adoption becomes more widespread, stablecoins like Bitcoin and Ethereum are gaining more mainstream attention. However, in order to get in on the crypto movement, you’ll need to use an exchange to purchase the digital currency. Two of the biggest names are Coinbase and Gemini, both of which offer quality platforms for new and experienced investors. Keep reading to learn more about their similarities and differences.
What’s the difference between Coinbase and Gemini?
When it comes to buying crypto, you have a lot of options for which cryptocurrency exchange to use. Many people find themselves debating Coinbase vs Gemini, as they are two of the most well-known and trusted exchanges. While these exchanges have a lot in common, there are also some key differences you should be aware of. Both platforms offer an on-site wallet and the ability to buy the most widely traded cryptocurrencies out there, including Bitcoin, Ethereum, and many more. Coinbase has a broader range of offerings, but you can still choose from a broad selection of digital assets when using Gemini.
If you want an exchange that allows fiat trading as well as trading digital assets, you’ll want to stick with Coinbase. Fees are similar, though both Gemini and Coinbase offer premium versions of their platform that have lower fees for serious traders. With Gemini, you can opt into their ActiveTrader system, whereas on Coinbase, you can upgrade to Coinbase Pro. As of right now, Coinbase Pro is slightly more expensive than ActiveTrader.
Anyone who’s brand new to cryptocurrency may want to start with Coinbase’s basic platform before deciding what to do when they’re ready to take the next steps into cryptocurrency and digital asset investment. Their crypto exchange is widely considered to be the most user-friendly, and they make it simple to learn about cryptocurrencies before you start trading. Gemini offers some more advanced features that might be better suited for more experienced crypto investors.
What exactly is cryptocurrency, and how does it work?
Before you start investing in crypto, it’s important that you understand what it is. Cryptocurrency is a digital currency that uses an online ledger with strong cryptography to secure transactions. Though crypto can be exchanged for goods and services, many people invest in cryptocurrencies as speculative assets. It’s important to keep in mind that crypto assets can be more volatile than traditional investment vehicles, so you should take time to educate yourself before you dive into the world of crypto trading.
Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology, which is spread across a large number of computers all over the world that manage and record transactions. The primary appeal of blockchain is its security. Though it was designed to support crypto, many businesses are looking into other ways to use the underlying tech. It’s likely that we’ll see a lot more innovation that makes use of blockchain technology in the coming years.
As you can see, there’s a lot to learn about cryptocurrency before you start investing. Both Coinbase and Gemini are great platforms that have a lot to offer crypto enthusiasts. The best crypto exchange between the two depends entirely on your preferences and goals. Coinbase may be the better option for beginners who still have a lot to learn while Gemini has some advanced features that may appeal to more serious investors. No matter which exchange you use, make sure you learn as much as you can about cryptocurrency before you purchase some for yourself.
