I was pleased when I started trading with Binance US because of its obligatory verification, variety of available trading instruments, staking program, and its policy to minimize fees. But my terminal crashes regularly. At first, I thought it was my problem, but it’s not. I confirmed this by checking with another exchange, and everything worked fine there. In general, yes, the platform has become unsafe, because I have never had more orders slip other than at Binance US. Hopefully, I will be able to safely withdraw my funds with God’s help.
Gemini vs Binance: Fees, Coins, Safety Comparison
Updated: January 15, 2023
Editorial Note: While we adhere to strict
Editorial Integrity,
this post may contain references to products from our partners. Here's an explanation for
How We Make Money.
None of the data and information on this webpage constitutes investment advice according to our
Disclaimer.
Binance is the world's largest cryptocurrency exchange; whereas, Gemini is popular as a worthy competitor, primarily in the US and in some other countries where a member of Binance may be restricted. In such cases, Gemini stands out for its high reliability and better regulation.
In this review, the experts at the Traders Union compared Gemini and Binance against 11 key parameters such as security, commissions, trading conditions, supported cryptocurrencies, etc. The comparative tables also separate data on Binance US to give a comprehensive picture of the operations of each Binance exchange within the US.
Start trading crypto right now with Binance!
Your capital is at risk.
Gemini vs Binance: Overall score
The TU experts scored 11 basic parameters to derive an overall score for the two exchanges, taking into account the different weights of different indicators. Although both exchanges have many similar scores, some differences were quite significant. Binance's overall score is significantly higher than Gemini's due to its large advantage in commissions and the number of trading and investment instruments. However, the specific advantage of Binance US over Gemini is no longer so overwhelming.
| Feature | Gemini | Binance | Binance US |
|---|---|---|---|
Overall |
4.0 |
4.7 |
4.3 |
Regulation |
4.2 |
3.1 |
3.1 |
Fees |
3.5 |
4.8 |
4.8 |
Trading assets |
3.6 |
5 |
3.7 |
Investment instruments |
3.7 |
4.7 |
4.7 |
Platforms and charting tools |
4.6 |
4.9 |
4.9 |
Margin rates |
Not supported |
4.5 |
4.5 |
Deposit and withdrawal |
3.8 |
4.7 |
4 |
Research |
3.5 |
4.6 |
4.6 |
Education |
4.1 |
4.8 |
4.8 |
Support |
4.0 |
4.8 |
3.5 |
Promo |
4.3 |
4.2 |
2 |
Gemini vs Binance (Binance US): Introduction
Binance’s advantages are low trading and non-trading commissions, the possibility of margin trading with leverage up to 1 to 100 on the futures market and 1 to 10 on the spot, and a large number of supported cryptocurrencies and fiat currencies. The main drawback of the Binance exchange is the lack of regulations and restrictions on trading in the U.S., the UK, and some other countries.
Gemini is characterized by high reliability and the Gemini PAY program that allows you to widely use cryptocurrencies for payments. However, this exchange has relatively high commissions, no margin trading, and generally a rather small number of supported coins.
Gemini and Binance: Pros and cons
| Gemini | Binance | ||
|---|---|---|---|
Overall pros |
Users can trade all of the major cryptocurrencies in addition to USD |
Leverage up to 1:100 |
Low fees compared to Gemini and Coinbase |
Decent trading volumes |
Low trading and non-trading fees |
Strong OTC portal, best for P2P trading |
|
No restrictions on trading strategies |
13+ Account fiat currencies + 50 crypto |
Low fees compared to Gemini and Coinbase |
|
Great investment program |
Derivatives, NFT, ETF are Available |
||
Gemini Pay makes it possible to pay with crypto in stores |
Indicators are Available |
||
Great data security |
Passive income with staking and mining pool |
||
Fund withdrawals are fast |
Strong Research |
||
Near 400 supported coins |
|||
Overall cons |
Withdrawal to a debit/credit card is not available |
No tier-1 regulation |
Limited trading assets compared to Binance International |
High trading fees |
No promos |
||
Limited choice of coins |
Not allowed in 6 US states (New York, Texas, Louisiana, Hawaii, Idaho, and Vermont) |
||
Debit card purchase is not allowed |
Gemini vs Binance: Safety & regulation
As for regulation, Gemini is superior to Binance because it is regulated by the New York State Department of Financial Services (NYDFS). Gemini is also one of the top exchanges in terms of security, due to which its services are used by many large investors (whales) from the United States. Binance and Binance US today are not regulated cryptocurrency exchanges, although each is working on getting a license. However, in favor of the Binance exchange, each member has a good reputation and the absence of any major hacks.
| Regulator: | Gemini | Binance |
|---|---|---|
SEC |
No |
No |
FINRA |
No (in the process) |
No |
SIPC protection |
No |
No |
Other regulators |
New York State Department of Financial Services |
Not regulated |
Binance vs Gemini: Trading conditions
Gemini's basic trading conditions differ from those of Binance. Gemini has no margin trading and a smaller selection of coins is supported. At the same time, Gemini and Binance US support approximately the same number of coins.
| Trading conditions | Gemini | Binance | Binance US |
|---|---|---|---|
Minimum deposit |
$1 |
$10 |
$10 |
Trading platforms |
Web, mobile |
Web, mobile, desktop |
Web, mobile, desktop |
Leverage (spot) |
None |
1:10 |
1:10 |
Number of markets |
112 |
1,668 |
202 |
Number of coins |
90 |
396 |
90 |
Number of trading accounts |
1 |
1 |
1 |
Base account currencies |
USD, EUR, GBP, HKD, SGD, AUD, CAD + 90 cryptos |
USD, EUR, GBP +10 fiat currencies, 50+ cryptocurrencies |
USD + cryptos |
Gemini vs Binance: Trading assets
If your main goal is to trade Bitcoin, Ethereum, and other altcoins, Gemini might be a good choice for you. In contrast, if you need a large number of new coins, Binance would be a better choice. Both Binance and Gemini have their respective marketplace for NFT trading. Binance offers perpetual futures contracts, whereas there is no futures trading on Binance US. On the other hand, Gemini cooperates with official and licensed derivatives exchanges such as Cboe. This allows traders to provide Bitcoin futures (XBT).
| Asset | Gemini | Binance | Binance US |
|---|---|---|---|
Yes |
Yes |
Yes |
|
Yes |
Yes |
Yes |
|
Yes |
Yes |
Yes |
|
No |
Yes |
Yes |
|
Yes |
Yes |
Yes |
|
No |
Yes |
No |
|
Yes |
Yes |
Yes |
|
Yes |
Yes |
Yes |
|
Yes |
Yes |
Yes |
|
Yes |
Yes |
Yes |
|
Yes |
Yes |
Yes |
|
Yes |
Yes |
No |
|
Yes |
Yes |
Yes |
|
DeFi Tokens |
Yes |
Yes |
Yes |
Gemini Fees vs Binance Fees
The fees of Binance are significantly lower than those of Gemini. The TU used the ActiveTrader plan for comparison, but there are other prices offered on the Gemini exchange. It is also worth considering that it is possible to reduce commissions on Binance by an additional 25% by paying them in BNB (Binance coins). All three exchanges offer substantial discounts for traders with large trading volumes.
Trading fees
| Fees | Gemini (ActiveTrader plan) | Binance | Binance US |
|---|---|---|---|
Max maker |
0.40% |
0.1% |
0.1% |
Max taker |
0.20% |
0.1% |
0.1% |
Min maker |
0% |
0.012% |
0.012% |
Min taker |
0.03% |
0.024% |
0.024% |
Debit/credit card purchase fee |
3.49% |
1% |
Debit card purchase isn’t allowed, debit card transfer is 4.5% |
Futures trading fees
| Fee type | Binance |
|---|---|
Max maker |
0.02% |
Max taker |
0.04% |
Min maker |
0% |
Min taker |
0% |
Non-trading fees
| Fee type | Gemini | Binance | Binance US |
|---|---|---|---|
Account fee |
0% |
0% |
0% |
Deposit fee |
0%, debit card transfer — 3.49% |
0% |
0% |
Bank transfer withdrawal fee |
0% |
1.5 USD |
15 USD per transaction |
Debit/credit card withdrawal fee |
Not supported |
1% |
Not allowed |
Inactivity fee |
0% |
0% |
0% |
Gemini vs Binance: Margin rates
The Gemini exchange temporarily lacks the ability to trade on margin, while at Binace margin bets are quite profitable compared to most of its competitors.
| Feature | Gemini | Binance |
|---|---|---|
BTC |
Not supported |
3.6% yearly |
USDT |
Not supported |
7.3% yearly |
Gemini or Binance: Passive income tools
Binance has a larger selection of instruments for passive investing. Binance and Gemini exchanges offer staking as the main type of passive investments, but Binance has a much better choice of coins for staking and generally higher returns. In addition, Binance has its own mining pool available for investment.
| Investment tools | Gemini | Binance |
|---|---|---|
Staking |
Yes |
Yes |
Mining pool |
No |
Yes |
Managed accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
No |
No |
Best trading platform: Gemini or Binance
All three exchanges offer trading platforms with good technical analysis capabilities and strong security measures. The main difference between Binance and Gemini is its advanced desktop application, which many pros will love due to its superior functionality. However, most traders won't notice the difference.
| Gemini | Binance | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
Yes |
Mobile (Android, iOS) |
Yes |
Yes |
Trading platforms | Features
| Gemini | Binance | |
|---|---|---|
SMS-Based 2 FA |
Yes |
Yes |
App-Based 2 FA |
Yes |
Yes |
Voice call 2 FA |
No |
No |
Search bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical analysis and charting tools
| Gemini | Binance | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
Yes |
Historical trades |
Yes |
Yes |
Live 2 Quotes |
No |
No |
Mobile trading
| Features | Gemini | Binance |
|---|---|---|
iOS version |
Yes |
Yes |
Android version |
Yes |
Yes |
Apple Watch app |
No |
No |
Touch ID |
No |
Yes |
Face ID |
No |
Yes |
Types of Orders
| Gemini | Binance | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop loss |
Yes |
Yes |
Stop limit |
Yes |
Yes |
Trailing stop |
Yes |
Yes |
Binance vs Gemini: Deposits & withdrawals
All three exchanges are available for withdrawal by bank transfer and electronic payments. However, Binance has a better choice of methods for deposits and withdrawals, since it also offers options such as withdrawals to credit cards and a variety of electronic payment systems. At Binance US withdrawal is available by bank transfer and with the help of cryptocurrencies.
| Deposit and Withdrawal method | Gemini | Binance | Binance US |
|---|---|---|---|
Bank transfer |
Yes |
Yes |
Yes |
Credit/debit card |
Yes (only deposit) |
Yes |
No |
Electronic wallets |
No |
Yes |
No |
Cryptos |
Yes |
Yes |
Yes |
Binance vs Gemini: Research
All exchanges offer clients a variety of informational and analytical materials. However, Binance has a much better selection of such materials. The exchange offers advanced blockchain analytics, various tools for self-assessment of statistics, a news feed, and its own market research.
| Source materials | Gemini | Binance |
|---|---|---|
News feed |
Yes |
Yes |
Fundamental data |
No |
Yes |
Chart analysis |
No |
Yes |
Trading ideas |
No |
No |
Email reports |
Yes |
Yes |
Gemini vs Binance: Education & training
Both exchanges offer a wide range of educational materials, including articles on investments and technology, training videos, and webinars. Binance has a wider selection of such materials and is supported in several languages, while Gemini is mainly for the English-speaking audience.
| Sources | Gemini | Binance |
|---|---|---|
Demo-account/paper trading |
No |
No |
Courses |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Webinars |
Yes |
Yes |
Books |
No |
No |
Gemini vs Binance: Support
All three exchanges operate in a 24/7 mode and maintain contact with users through online chat, email, and phone. However, Binance has an important advantage, since its support staff is multi-lingual. Binance US works in English only and communicates with users mainly through email and online chat.
| Support Features | Gemini | Binance | Binance US |
|---|---|---|---|
Workdays |
24/7 |
24/7 |
24/7 |
Yes |
Yes |
Yes |
|
Phone |
Yes |
Yes |
No |
Online chat |
Yes |
Yes |
Yes |
Other |
No |
Telegram |
No |
Binance vs Gemini: Promos
Best Crypto Sign-Up Bonus Offers and PromotionsBoth exchanges offer interesting programs for beginners.
| Gemini | Binance | |
|---|---|---|
Crypto bonuses |
Up to $100 for investing $1,000 or more |
|
Referral program |
Yes |
Yes |
Gemini or Binance: Which is Better in 2024?
Binance will appeal to most users because it has lower fees and a larger selection of supported cryptocurrencies. In addition, it can offer margin trading with low stakes and a well-developed educational program.
Gemini may be chosen by large investors and traders from the US, Canada, and the UK, for whom reliability and regulation are of paramount importance. Large clients with a high volume of trades on this exchange have lower commissions than small investors.
Binance US over Gemini are not so obvious because there are significantly fewer cryptocurrencies available on Binance US than on Gemini. Also, Binance US does not have futures trading available. The main advantage of Binance US over Gemini is low commissions, but Gemini is regulated in the US, which is important for many clients.
Fees
At the entry-level, Binance commissions are an order of magnitude lower by 0.1% for the taker and maker compared to 0.4% for the taker and 0.2 for the maker at Gemini. Also, Binance can offer a 25% discount if you pay commissions in BNB tokens. Regardless, Gemini offers significant discounts for large clients with high trading volumes, which reduces the difference.
Security
Gemini can be considered a more secure exchange because it emphasizes this point in its work. In addition, this exchange is regulated in the USA, whereas Binance has no regulation. At the same time, it is worth noting that over the years, Binance and Binance US have proven themselves as reliable platforms, which have never been hacked.
Day trading
Binance is better suited for day trading because each team member offers low commissions and margin trading on spot and futures markets. In addition, each is more liquid and offers a wider selection of supported coins.
Available cryptocurrencies
Binance has a better coin selection — about 400 coins — compared to only about 100 on Gemini. On Binance US the choice is not so big and is similar to Gemini’s inventory.
Top 5 reviews on Gemini
-
Comment
If you are striving to lose your money, then I recommend that you start trading on Gemini. I have personally seen how easy it is to lose your cryptocurrency here. Ordinary transaction fees eat up a significant portion of potential profits. But even if you manage to earn something, Gemini can unconditionally cancel your trades, coming up with various reasons. I experienced this personally during the six months I spent on this exchange.
-
Comment
On another resource I saw reviews about Gemini, and not on one. What can I say, there is no trust in such companies, the reviews of which are so bad. I won't even try to trade here either. I believe those who had the imprudence to contact Gemini.
-
Comment
I have been associated with Gemini for a long time. Then our cooperation suddenly wound to a halt. There were too many flaws in this exchange. But most importantly, there was only Bitcoin and Ether, there were no other cryptocurrencies. Now I have returned to cooperation with this exchange again. The owners already provide more instruments for trading, there are other positive changes. I read somewhere reviews that the conditions at the Gemini crypto exchange have become worse, many traders are leaving, and trading volumes are falling. I disagree with this because every day I see how the trades are going and what the trading volumes are. However, the exchange commissions for transactions change often. If earlier the commission for trading was higher than 0.25% of the transaction amount. Now, during increased trading volumes, the faster the commission trends towards 0%. So draw your own conclusions.
-
Comment
Gemini has a very smart approach to trading and exchanging cryptocurrencies and they understand how important security is against hacking and online theft. When I studied the topic of securing a customer account in the Gemini exchange, I realized that I needed to register here. Yes, there are a lot of disadvantages. But they all overlap with merits. Moreover, the creators of Gemini are not sitting still, they frequently introduce new crypto pairs. Here you can already buy Bitcoins with the Singapore dollar, not to mention the currencies of the leading countries of the world. The trading volumes are serious, the liquidity on the exchange is very high. If anyone wants to work with account hacking insurance, then it is worth opening an account with Gemini.
-
Comment
As for me, there are too many problems with Gemini. I admit it is a regulated and secure exchange. But I prefer security more advantages in the form of leverage, a large number of payment systems, or a good selection of tokens. Well, privacy, too. I won't be able to be an anonymous trader in Gemini because I need to go through verification. Other exchanges do not have such a requirement. If the Gemini exchange softens its terms, I will gladly register there. In the meantime, I pass.
Top 5 Reviews on Binance
-
Comment
Despite the growing number of reported hacks in the crypto space, I never once felt worried about using Binance as my crypto exchange. They have the most extensive security verification methods, and this makes me feel that trusting my funds with them is one of the best decisions I’ve made. Earlier this year I lost my phone number to which my Binance acct was connected and got very worried that my funds will be compromised. Turns out, it was easy to replace my old contact info with my new number, and they also suggested that I activate my 2-factor authentication for an extra layer of protection. I have also recently activated my passkeys for added security. All these years, Binance has been nothing but a trustworthy platform to me. I only trade crypto with them and nowhere else.
-
Comment
I created my account with Binance four years ago. It was during the middle of the crypto boom. I thought it was just a phase and would completely forget about it after the pandemic. But it turns out it is not :D. I still actively trade with the same account. Probably what made me stay is the ease of use, either when I am trading with the website or through the Binance app. Features in both platforms are easy to understand and use. I never had to consult YouTube videos as I normally do with my other brokerage accounts to figure out how a certain tool/button works. What you see is what you get. Never had issues with order execution, deposits, and withdrawals either which made the overall trading experience an excellent one all these years. I think Binance took over the crypto market easily for the same reason. It sold us the idea that trading is easy after all.
-
Comment
My experience with Binance has been predominantly positive. The platform's extensive cryptocurrency offerings, user-friendly interface, advanced trading features, and commitment to security make it a compelling choice for both novice and experienced traders alike.
-
Comment
Binance is the best cryptocurrency exchange for me. There is a very rich selection of cryptocurrency pairs, and many new tokens are added. The crypto rate is market-based, I checked with different exchanges, there is no big difference. With Binance, you can get a good return. I recommend the exchange.
-
Comment
I chose Binance for a reason. I have long been interested in P2P trading, and Binance, as far as I know, is one of the few exchanges where this way of earning is available. I myself, of course, also trade, but I get the main income precisely through P2P. And it cannot be said that I would recommend Binance for trading. The company is not bad, but there are nuances: my terminal hung up a couple of times, well, I spent time going through verification, be healthy. But the commissions are low, and the deposit requirements are minimal, so there are plenty of traders here, especially beginners. What sets Binance apart from most exchanges is that a cold wallet is available, but given how often exchange accounts get hacked… I would think so.
Top 5 reviews of Binance US
Izaiah Maggio
trader
Los Angeles
Binance US is one of the iffiest exchanges in my memory. The conditions are well described, you can deposit funds to your account in any currency or fiat, and you can trade using 100% of all functions of the exchange almost from the start. All you have to do is pass verification, which takes at least a week, and then you have to wait another three days for the money to arrive in your account. I have not started trading yet and I already have a bad impression.
Lora Hagenes
trader
San Antonio
Binance US promised untrue conditions such as you can increase the volume up to infinity. What a bold lie! Also, it has no leverage, no margin trading, and no demo account to test your strategies and learn its terminal. Also, the system to reduce commissions is very complicated, and I have tried diligently to understand it even with the help of the support service, but it is simply not comprehensible. Moreover, the answers to the FAQs are not complete. Nor did Binance US surprise me by the number of its trading instruments. Other Forex brokers have even greater numbers of cryptos, plus they will be regulated, have comprehensive security, and will place its clients’ funds in segregated accounts in leading banks, not just via two-factor authentication. I doubt that it's safe for anyone to trade here, especially in large volumes.
Mateo Erdman
professional trader
Dallas
Binance US is not an exchange that might rise to your expectations but you may still wish to give it a shot because there is no minimum limit for the deposit. Also, the answers to the FAQs are incomplete. I had to spend a week talking to support to get the answers to my basic questions. A week! During that time, I could have already repaid the deposit if the broker was reliable and transparent. The Binance US investment programs do not impress me either. Staking can be found in any cryptocurrency section but this is not a big deal, and Binance US’s conditions are not the best on the market in this respect. Although the trading conditions here, in principle, are acceptable, I have my doubts about its overall operation.
Mercedes Senger
investor
Chicago
I don't think Binance US is the crypto exchange I would want to go back to. I wouldn't recommend it as I am not sure about its competence. For example, newbies here have access to all trading conditions such as the absence of a minimum deposit and a basic trading platform. That's it. No training, no guides. You can't get very far in crypto trading without basic training and knowledge. Well, professionals know this statement like a mantra: “there’s no free lunch” in this world. I feel more comfortable paying a higher commission to an exchange or broker but knowing that my assets and rights are protected, which unfortunately is not the case with Binance US.
Rico Carroll
professional trader
Columbus
FAQs
Is it necessary to verify personal data on these cryptocurrency exchanges?
On all three exchanges, verification is a prerequisite to access the full range of services and regular income withdrawal.
Is Binance more profitable than Gemini?
Yes, Binance is more profitable than Gemini. Binance has lower trading fees. In addition, Binance's margin trading fees are also lower than most of its competitors.
Which exchange is best for newcomers?
Binance is the best choice for beginners, as this exchange is cheaper for traders with low volume, and also offers a larger selection of educational materials.
Which exchange is more liquid?
According to CoinMarketCap, Binance’s liquidity is higher, but Gemini is also among the top leaders.
Team that worked on the article
Jason Law
Contributor
Jason Law is a freelance writer and journalist and a Traders Union website contributor. While his main areas of expertise are currently finance and investing, he’s also a generalist writer covering news, current events, and travel.
Jason’s experience includes being an editor for South24 News and writing for the Vietnam Times newspaper. He is also an avid investor and an active stock and cryptocurrency trader with several years of experience.
Rinat Gismatullin
Author and business expert
Rinat Gismatullin is an entrepreneur and a business expert with 9 years of experience in trading. He focuses on long-term investing, but also uses intraday trading. He is a private consultant on investing in digital assets and personal finance. Rinat holds two degrees in Economy and Linguistics.
Gismatullin has been an author at Traders Union since 2019. His focus is creation of detailed reviews of brokerage companies and cryptocurrency exchanges, as well as analytical and educational articles on finance.
Rinat’s motto: Always be open to new experiments. By overcoming the hardships you will reach the stars that open to those who seek.
Mirjan Hipolito
Cryptocurrency and stock expert
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.