Cryptocurrency seems to be all people can talk about anymore. Indeed, the U.S. has been bitten by the crypto bug and has crypto-mania. Many people are interested in trying their hand at trading cryptocurrency, but there’s a lot to learn before you start buying coins on CoinBase, Robinhood, Kraken, or Gemini.
You’d think that the biggest decision you have to make is in which coins you’ll invest. However, before you do that, you need to choose which platform you want to use for trading crypto. In this article, we’ll cover two of the most popular crypto exchanges, CoinBase and Gemini. Hopefully, by the end of this article, you’ll have an idea of which platform is the best for you.
Digital currency is all about converting fiat currency into digital assets that are easier to use in online and international commerce. However, whenever you’re dealing with sensitive information and money, you have to be wary of cybercriminals. That’s why the first thing we’re going to cover in the Coinbase vs Gemini debate is cybersecurity.
Both Coinbase and Gemini can boast that no one has ever been able to hack their platforms. That’s why they’re largely considered two of the best platforms in terms of security. Of course, you can store your coins in your own wallet, but if you plan on using a third-party wallet, you can have peace of mind that your private key to your crypto assets is safe on both Gemini and Coinbase. They have air-tight cybersecurity.
One of the important things to look for in a cryptocurrency exchange is advanced features. You want tools that can help you track different cryptocurrencies as they rise and fall and even help you to identify possible trades.
While both Gemini and Coinbase have simple platforms that are great for new users, Gemini has the most advanced features. If you stick with cryptocurrency trading, you won’t always be a beginner, meaning you should choose a trading platform that gives you room to grow into becoming an expert trader. Gemini is the better trading platform for newbies. However, many experts feel like Coinbase and Coinbase Pro are more ideal for people who are learning the basics.
Trading capacity is also important to consider when choosing a cryptocurrency platform. Currently, Coinbase offers more trading opportunities than Gemini. CoinBase enables the trading of more major coins, has a higher global trading volume, and accepts more fiat currencies than Gemini.
Trading volume is important because you want to have as many potential trading partners as possible. Coinbase has a much greater trade volume, meaning your chances of making a life-changing trade are greater. With the right trading strategy, you could find yourself looking for a new home and the best home warranty companies in Texas.
The cost is a concern whenever you talk about any kind of service, including a trading platform. Both Coinbase and Gemini offer versions of their platforms for new users and more advanced platforms for experienced traders. CoinBase is a great platform for learning the ins and outs of trading. Its counterpart, CoinBase Pro, is for those who already know how to trade and more features and lower trading costs.
Gemini offers its ActiveTrader platform for users who are ready to take their trading to the next level. However, when it comes to trading fees, Gemini seems to be the better deal, offering lower fees than CoinBase.
There are a lot of factors to consider before you commit to a trading platform. You want a platform that provides speed. You also want a cryptocurrency trading platform that provides security. After all, this is money we’re talking about. Additionally, you want tools that help you learn the ins and outs of crypto and help you to make wise moves.
Indeed, CoinBase and Gemini are among the best platforms for trading cryptocurrencies. They both offer versions of their platforms that are great for beginners and advanced programs for experienced traders. Neither CoinBase nor Gemini have ever been hacked, making them two of the safest crypto trading platforms. They’re two of the best crypto exchanges in the world, so picking the right one is a matter of personal preference.