Estimated reading time: 2 min
Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
1. You could lose all the money you invest
2. You should not expect to be protected if something goes wrong
3. You may not be able to sell your investment when you want to
4. Cryptoasset investments can be complex
5. Don't put all your eggs in one basket
If you are interested in learning more about how to protect yourself, visit the FCA's website here.
For further information about cryptoassets, visit the FCA's website here.
 |  | |
| Overall rating | ★★★★★ | ★★★★★ |
| Costs rating | ★★★★★ | ★★★★★ |
| FCA-registered | ||
| Exchange location | UK/US | US |
| Offers a debit card | ||
| More Info | More Info |
Gemini has a base in the UK and is registered with the UK watchdog, the Financial Conduct Authority (FCA). Although cryptocurrency isn’t regulated in the UK, it means Gemini has passed checks for money laundering and terrorism financing. US-based Coinbase is not on the FCA’s crypto asset firm register, but its continued presence in the US means that it is one of the most reputable exchanges operating in the market.
Winner: Tie
Coinbase has an extensive range of coins available, including several obscure altcoins. Gemini supports a smaller number but includes the major ones. In the past, it has been slow to adopt some of the more notable new coins. But you’ll most likely find what you need with both platforms. Overall, Coinbase wins out for hosting more cryptocurrency pairs and typically having higher liquidity levels.
Winner: Coinbase
Once again, Coinbase’s range of fiat currencies is larger than Gemini’s. This highlights its presence in multiple countries. However, for UK users the main point is that both Gemini and Coinbase support GBP for deposits and withdrawals.
Winner: Coinbase
| | |
| Minimum deposits | £10 | £50 |
| Deposit Fees | Crypto: None Wire transfer: determined by your bank Debit card: 3.49% | ACH: Free Wire transfer: $10 SEPA: €0.15 SWIFT: Free |
| Trading Fee | ActiveTrader: Taker fee - 0.03-0.4% Maker fee - 0-0.2% | Maker fee: 0.00-0.4% Taker fee: 0.05-0.6% |
| Withdrawal Fees | None (for 10 withdrawals and below per month) | ACH: Free Wire transfer: $25 SEPA: €0.15 SWIFT: £1 |
| Deposit methods | Debit card, Apple Pay, Google Pay, SWIFT | Bank transfer, Credit card, Cryptocurrency, Debit card, PayPal |
| More Info | More Info |
Gemini’s fee structure lets it down, as it can vary depending on the platform being used to trade. So if you use your mobile app to trade, your fees will be different from those via the web platform. Typically, if you use its ActiveTrader platform then you can access more competitive fees. In contrast, Coinbase’s fees may not be the most transparent but they are competitive within the Pro version of the platform, which is free to access once you’ve been verified.
Winner: Coinbase
Gemini takes its wallet security seriously: It has an insured hot wallet and an institutional-grade cold storage system. The main difference between Gemini’s offering and Coinbase’s is that the latter is a self-custodial wallet. This means you maintain control of your digital assets. It also offers more functionality in that it provides a bridge to the decentralised web, allowing you to earn yields or grow your NFT collection.
Winner: Coinbase
Coinbase is one of the world’s most used cryptocurrency exchanges. Its interface is one of the easiest to use, which makes the likelihood of mistakes small. Gemini is also a good option for new investors. It has a friendly user interface as well as the ability to upgrade to an advanced platform. Both platforms lend themselves to inexperienced and experienced traders alike.
Winner: Tie
Both Gemini and Coinbase rate pretty highly for security. Gemini has never experienced a hack and has a robust insurance plan in place. Coinbase did experience a hack in 2021 but reimbursed all affected customers. It also has significant insurance in place and regularly conducts SOC audits.
Winner: Tie
Coinbase narrowly edges Gemini out purely due to its size and liquidity. They are evenly matched in terms of security and ease of use. Coinbase’s fees are probably slightly more competitive, but it is the number of coins and its liquidity levels which mean that Coinbase can offer new investors that tiny bit more. While there’s no denying Gemini is a versatile exchange, Coinbase nudges ahead with features including its cryptocurrency debit card and its Coinbase Earn programme.
*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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