Gemini vs Crypto.com - Which is better?
Many fintech companies provide a wide range of products and services for easy financial management, cryptocurrency trading, and digital asset investment. They include digital wallet services, international money transfer platforms, neobanks, crypto-friendly banks, cryptocurrency exchanges, credit and loan providers, and buy-now-pay-later services. The list can go on.
It is no longer news that fintech companies have introduced innovative products and services into the crypto space through partnerships and other business development strategies. The market leaders have become so advanced and closely competitive. This situation makes it difficult for many consumers to compare them and make a good choice when searching for the best exchanges and crypto platforms.
To settle a long-standing debate, in this article, we picked two of the best cryptocurrency exchanges on the market, Gemini and Crypto.com, and compared them side-by-side. It shows the various aspects where they are notably similar and different. We expect that you will be able to make a suitable choice between them after reading this post.
What is Gemini?
Gemini is a crypto exchange and custodian that provides a simple and secure way to buy and sell cryptocurrency. It was established in 2014 by twin brothers Cameron Winklevoss and Tyler Winklevoss. Its headquarters is in New York, the United States.
Gemini offers a wide range of products and services for beginners, crypto enthusiasts, and experts in the industry. They include its crypto credit card, custody, wallet, staking, insurance, and a one-stop premier NFT marketplace called “Nifty Gateway,” where creators and traders of digital art can perform various transactions on the Ethereum blockchain.
Concerning security and safety, Gemini is SOC 1 Type 2 and SOC 2 Type 2 certified. It implies that Gemini provides a high level of protection against unauthorised access to user data, including their financial and personal details. Besides, the regulator of Gemini is the New York State Department of Financial Services (NYSDFS).
What is Crypto.com?
Crypto.com is a cryptocurrency exchange established by Bobby Bao, Gary Or, Rafael Melo, and Kris Marszalek in 2016. The company provides a robust digital platform for people to buy, sell, and store cryptocurrencies, NFTs, and other blockchain-based products. Its headquarters is in Singapore.
One of the primary areas where Crypto.com shows its commitment to its customers is trust building through high-quality data security. Your personal information and details of your transactions on this platform are kept secure through compliance with international standards. Crypto.com uses multi-factor authentication and is SOC2 Type 1 and PCI DSS Level 1 compliant, showing the highest cybersecurity and data privacy standards.
Gemini Fees vs Crypto.com: Which is Better?
Below is our side-by-side comparison of Gemini and Crypto.com so that you may easily identify which is better. We expect your decision to be more subjective than objective because you should rely on what is most important in your trading and investment priorities.
Top Products, Features and Benefits
The following are the top products of Gemini. They come with different features and offer various benefits to users:
- Crypto Exchange: Buy and sell crypto, set recurring buys, and get price alerts.
- Gemini Earn: The lending product that offers up to 8.05% APY in interest on your crypto if you are a customer in the United States, Singapore, or Hong Kong.
- Gemini Credit Card: For customers in the United States to earn crypto rewards on every purchase made using the Gemini credit card issued by Mastercard.
- Gemini ActiveTrader: Allows active traders to execute trades at high speed and get multiple order types and advanced charting.
- Gemini dollar: Offers GUSD, the US-dollar-backed stablecoin of Gemini, for trading and staking in DeFi, as well as other transactions like lending and interest earning.
- Gemini Custody: Secure digital assets cold storage and management with free setup and flexible pricing.
- Gemini Clearing: Helps to avoid counterparty risk by ensuring timely settlement of pre-arranged transactions, enabling trades to be sold off the order book (an anonymous method).
- Gemini Wallet: Insured and secure hot wallet for storing your digital assets.
- Gemini Staking: Offers crypto rewards for holding any amount (no minimum) of your crypto in the exchange, does not charge gas fees, and assets can be redeemed at any time.
- Gemini Mobile: Easy-to-use mobile app for many functions, which include buying, selling, and storing cryptocurrencies, tracking asset prices and market trends in real-time.
- Gifting Crypto: Allows customers in Singapore and Hong Kong to gift Bitcoin to others from their Gemini accounts for free.
- Institutional solutions: Provides various crypto-based solutions for corporations, fund managers and exchange-traded fund (ETF) issuers, hedge funds and liquidity providers, and wealth and asset managers.
- BITRIA by Gemini: A portfolio management platform with fully integrated reporting and simplified onboarding for wealth and asset managers.
- Gemini Prime: Provides secure access to financing, trading, settlement, and custody services.
- Gemini Settlement: Enables the use of a single action in settling multiple obligations, including an entire day’s worth of trading.
Below are the top products of Cypto.com. We have also included the main features and benefits they offer to users:
- Crypto Exchange: Buy and sell crypto at reduced fees and increased limits.
- Crypto Earn: Offers up to 14.5% interest on crypto and rebates on over 25 tokens and stablecoins.
- Metal Visa Cards: Crypto Visa cards in up to 5 tiers with various benefits, fees, and limits.
- Crypto Credit: Allows you to get the credit you want by borrowing up to 50% of your crypto collateral.
- Crypto.com Pay: Receive rewards when you pay with the Crypto.com mobile app at zero gas fees for instant settlements, earning up to 10% back in CRO.
- DeFi Wallet: A non-custodial wallet for accessing DeFi services.
- Supercharger: Users of its app and exchange can boost their portfolios using this simple and secure rewards platform.
As shown above, in terms of products, features, and benefits, Gemini seems better than Crypto.com. That is because it has much more to offer to modern consumers.
Gemini is more than a crypto app. It is a secure, regulated, and world-class cryptocurrency exchange that offers a unique collection of products and services, which include a digital wallet and a user-friendly mobile app available for download on the App Store, Google Play, and Galaxy Store. It is a powerful platform for beginners and experts in crypto trending and investment, as well as NFT art creators and collectors.
Yes, Gemini reports to the Internal Revenue Service (IRS). Users whose income on the platform exceeds $600 are issued a Form 1099 for IRS tax filing.
Yes, Gemini is very safe and well-controlled for excellent service delivery. Besides, its primary selling point is security. It is regulated by the New York State Department of Financial Services (NYSDFS). Gemini provides a high level of security against unauthorised access to its users’ financial and personal data.
Gemini is owned by two brothers, Cameron Winklevoss and Tyler Winklevoss, who are well-known investors in the crypto industry.
Yes, Gemini allows free withdrawals via wire and ACH transfers.
You can avoid fees on Crypto.com by exchanging crypto within your account, which implies using the “Withdraw to App” function.
Yes, Crypto.com charges a fee of 0.0001 BTC when a user withdraws Bitcoin through the BEP20 network.
Gemini provides up to $200 million in custody insurance against some types of crypto losses.
Yes, Gemini pays interest daily through its Gemini Earn lending programme.
You need to link your bank account to Gemini to withdraw money from it. If you’ve already done that, then go to “Payment methods” in the app and select “Withdraw from Gemini” under Transfer funds. Select the USD option, type the amount you want to withdraw and choose a bank account using the “Select destination” button and send the money.
Conclusion and Final Verdict
In this article, we have compared Gemini and Crypto.com using various criteria. As you can see, there are different aspects where they outperform each other, and some aspects where they share similar strengths. While Crypto.com has more users, supports more countries, and has more cryptocurrencies and fiat money than Gemini, the latter offers more products and services with many benefits.
In terms of pricing and methods of depositing funds, both offer competitive rates and similar payment methods. Also, while Gemini does not have a minimum deposit, users of Crypto.com will have to deposit at least US$20.
Both platforms support NFTs and have their own marketplaces for creators and collectors, while also providing crypto loans, but Crypto.com offers a better interest rate for users.
Both Gemini and Crypto.com are both highly secure and safe to use, with reliable storage facilities for hot and cold crypto assets and fiat money deposits. However, Crypto.com offers better insurance coverage and more social media channels for customer relationship building than Gemini. It gives crypto traders and investors a greater sense of security and belonging.
In all, both cryptocurrency exchanges are top players with world-class products and services in the industry. While you can choose either of them or open an account with both, your decision should be based on what they offer that is most important to your crypto trading and investment needs.