As the price of Bitcoin and Ethereum continue to rise, many new investors are looking for a good place to buy cryptocurrency. In this post, we'll be comparing two of the most popular options: Gemini vs Coinbase.
Gemini vs Coinbase: Two Different Products
Gemini and Coinbase are two very different sites, each offering different products to their users.
Gemini is a cryptocurrency exchange, operating similarly to a forex or stock exchange. Users can create accounts, make a deposit, then trade cryptocurrencies and fiat currency (USD with other users on the exchange.
Coinbase operates more like a cryptocurrency retail store and tries to give users the simplest way to purchase cryptocurrency. When you purchase or sell cryptocurrency on Coinbase, you're making a transaction directly with the company. Coinbase sets the price and your order is immediately executed at that agreed upon price. This means that you do not risk placing an order that doesn't get filled, like you would on an exchange.
The prices Coinbase sets for buying and selling cryptocurrencies, are correlated with the price of those cryptocurrencies on exchanges. Coinbase does, however, charge small fees for facilitating this easy method of buying and selling cryptocurrencies. You can see a comparison for Gemini vs Coinbase fees in a section below.