Gemini Fees Review - Is Gemini Cheaper Than Coinbase?
If you want to be successful at online trading, you’ll need a high-quality crypto exchange — one that provides decent value and fair fees for their services. Of course, selecting the right one will take some digging — but we’re here to make that process easier by examining the fees and features offered by major exchanges.
For instance, if you’re thinking about opening a trading account on Gemini — you’ll want to know what kind of bang you’re getting for your buck, and how it compares to other heavy hitters like Coinbase.
When it comes to Gemini as an exchange, they’re a crypto trading platform that supports all major tokenized assets and cryptocurrencies, such as Bitcoin, Ether, Litecoin, Bitcoin Cash, etc. They also have their own stablecoin called the Gemini Dollar (GUSD), and this currency is USD-backed.
The platform comes with a proprietary trading terminal that’s not based on TradingView, but the company’s own invention. There’s also a Gemini Earn investment program that gives you the chance to earn on cryptocurrency storage alone — as well as an expansive learning platform called the Cryptopedia, that provides detailed advice on investing and trading in crypto.
But all of this aside, you’re probably interested in one thing — what are their fees like? Choosing the exchange with the balance between fees and service quality can make or break a young trader — which is why we’re here to break it all down for you and compare it with the likes of Coinbase.
Gemini Fees – Short Introduction
| Type of fee | Fee rate |
|---|---|
Deposit fees |
Free except for debit and credit card transfers, which come with a 3.49% fee. |
Withdrawal fees |
None, except for potential conversion fees between currencies. |
Transactional fees |
1.49% for crypto conversions, and variable for buying and selling crypto in exchange for real-world currencies. |
Convenience fee |
Average of 0.5%, varies depending on the cryptocurrency you’re trading in |
Gemini Trading Fees Explained
Just like any other crypto exchanges, Gemini makes its money in a variety of ways — through trading fees, non-trading fees, and spreads on individual instruments. And while the spreads may vary, the trading and non-trading fees are more consistently defined; which is why we’ll go through them in more detail right here.
Crypto Trading Fees
Every time you decide to buy or sell a piece of crypto through Gemini, you’ll encounter two types of trading fees: a transaction fee and a convenience fee. These are the same regardless of whether you’re using the mobile app or the desktop website, and they’re transparently shown — you can see them as a part of your final “quoted price” before you confirm and realize your purchase or sale.
The Gemini convenience fee will set you back around 0.5% of the market price of a given cryptocurrency on Gemini. It slightly varies depending on the crypto in question, and you also pay it in the crypto that you’re buying. For example — if you decide to buy Bitcoin and 1 BTC is trading for $30,000 right now, what you’ll be paying to Gemini is $30,150 with the fee.
However, that’s only if you count the convenience fee. Besides that, Gemini has an elaborate transaction fee structure that depends on your trading volume.
If you’re just converting crypto — like trading Ether for Bitcoin — you’ll be paying a flat fee of 1.49 percent. On the other hand, if you’re buying or selling crypto for hard currency like the US dollar, this transaction fee will depend on which currency you’re using and your trading volume. Smaller trades get a flat fee that correlates to the trade amount, while larger trades get a 1.49% fee.
Here’s an example of the fee schedule from the perspective of USD transactions:
| Trade volume | Transaction fee |
|---|---|
Over $200 |
1.49% of the total trade amount in crypto |
$50 to $200 |
Flat $2.99 fee |
$25 to $50 |
Flat $1.99 fee |
$10 to $25 |
Flat $1.49 fee |
Below $10 |
Flat $0.99 fee |
Gemini Vs Coinbase Trading Fees
So, how do Gemini fees stack up against similar exchanges like Coinbase? We’ve prepared a quick comparison of their fee structure below:
| Gemini Fees | Coinbase Fees |
|---|---|
| Trades under $200 get a flat fee, trades over $200 come with a 1.49% fee, credit or debit card transactions have a 3.49% fee. | 0.50% for every trade, 3.99% for debit and credit card purchases, and a 1.49% fee for bank account or Coinbase wallet purchases. |
Gemini Non-Trading Fees
Apart from the trading fees we’ve described above, Gemini and other exchanges also have various non-trading fees.
For instance, some exchanges have deposit and withdrawal fees. Luckily, there’s no deposit fee for your Gemini trading account, provided you aren’t depositing with a debit or credit card. In that case, there’s a 3.49% fee. Besides that, you can freely deposit USD to your account or move crypto to and from your Gemini wallet.
Does Gemini Charge Withdrawal Fee?
In general, Gemini doesn’t charge a fee for withdrawing USD from your account after a crypto sale, or for withdrawing crypto from the Gemini wallet. That being said, there are fees if you make more than 10 withdrawals in a single month.
Does Gemini have a conversion fee?
In terms of converting crypto to USD via sales, you have a transactional fee that we’ve outlined above. Besides that, Gemini doesn’t charge a conversion fee — but bear in mind that your payment processor likely will if you decide to fund your Gemini account with non-USD currencies.
Gemini Interest Rates
Gemini pulls ahead of competitors like Coinbase with their interest rates that you earn for keeping crypto on their platform. In fact, Gemini has set up an elaborate lending program called Gemini Earn. Through it, you can lend your cryptocurrency to institutional borrowers in exchange for a hefty interest — in some cases, up to 7.4% on a yearly basis! Of course, the exact interest rates will vary depending on your currency.
The interest rates are paid daily, and you can always move your crypto into your standard account if you want to stop lending. There are also no withdrawal or transfer fees for this process. In comparison, Coinbase has a staking program that allows you to earn up to 5% on a yearly basis.
Gemini Fees vs Coinbase Fees
| Gemini Fees | Coinbase Fees |
|---|---|
| Trades under $200 get a flat fee, trades over $200 come with a 1.49% fee, credit or debit card transactions have a 3.49% fee. | 0.50% for every trade, 3.99% for debit and credit card purchases, and a 1.49% fee for bank account or Coinbase wallet purchases. |
Considering all of the above, how do Coinbase and Gemini stack up when it comes to fees?
Both exchanges have a complex fee structure, especially for transactions — while the Coinbase fees fall from 0.5% as you increase your trade volume, the Gemini fees are higher for higher volume trades.
All in all, Gemini is better for traders who will be working with a large number of smaller trades, because trades below $200 in dollar value come with only small flat fees. Still, the Gemini ActiveTrader plan comes with a maker-taker model similar to the Coinbase one, but with lower fees. So, overall, Gemini is cheaper.
Gemini vs Coinbase - Which Crypto Exchange Is Better?How to Reduce Gemini Fees
The best way to save money while trading through Gemini is to focus on smaller trades that come with low flat rates. On the other hand, you can also upgrade to their ActiveTrader account. While this platform can only be used by more advanced users, ActiveTrader comes with a different fee structure for day traders that rewards bigger volumes.
Traders Union Rebate For Gemini
Every user that registers an account with the Gemini crypto exchange may also reduce their Gemini fees through a rebate provided by Trader Union. To get it, register an account on the Trader Union website first. Then, you’ll have an affiliate link that leads to the Gemini crypto platform registration page. When you register through the affiliate link, you’ll get a rebate bonus that’s applied to your account.
Try it — you’ll definitely like this!
Top 5 Gemini Reviews
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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.
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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.
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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.
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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.
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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.
FAQs
Does Gemini have high fees?
This depends on what exchanges you’re looking at as reference — they’re pretty similar when compared to Coinbase, but somewhat higher than the average.
Is Gemini or Coinbase better?
In terms of fees, they’re pretty on-par — however, Gemini has more options for serious investors while Coinbase provides more learning opportunities and resources.
Is Gemini safe for Bitcoin?
Yep, Gemini has a safe Bitcoin wallet for crypto storage.
Is Coinbase commission free?
No, there are certain commissions we’ve outlined above.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!
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.