What are the differences between Coinmama and Gemini? You will need to consider and analyze several sets of data, facts, and figures to make a head-to-head comparison between Coinmama and Gemini and get an accurate result.
You will also need to consider different categories in which these two popular crypto platforms differ so that you can make the right choice in the end, if you have to.
It is only when you analyze all of the most vital metrics of these cryptocurrency exchanges you will get a proper knowledge and have a clear understanding so that you can make an informed decision.
Now, this calls for a lot of research and considering several metrics and parameters which will need a lot of time and effort.
What you can do alternatively is go through this article that entails all these categories for a precise comparison.
Ideally, Coinmama is a good and reliable international, non-custodial crypto exchange but it is quite expensive to use.
And, for the high price that you pay, you will have pretty limited currencies to choose from.
On the other hand, Gemini is a platform that focuses more on the security aspect. This platform is growing at a rapid pace and has a wide and diverse range of products to offer to its users.
Though the staking rewards of this platform are moderate, the impressive number of coin support as well as a wide range of institutional services makes it a good option to choose.
6 Differences Between Coinmama and Gemini
While Gemini is a suitable crypto trading exchange that offers the users an option to trade with a large number of Altcoins at low fees, Coinmama, on the other hand, is designed to allow the beginners in the crypto space to do trading as conveniently and easily as possible.
However, when you compare Coimama and Gemini side by side, you will need to know some of the other differences between them.
For that, you will need to consider the fees charged, coin support, trading options, ease of use, customer support, security, pros and cons, and a lot of different aspects. Here they are all listed for you.
In comparison, Gemini caters to the needs of those crypto traders and investors who are interested in its varied crypto products and services offered such as interest earning, custody and wallet service, apart from the fundamental crypto exchange and trading services.
Considering the fees of the two platforms, the fee for making a transaction on the Coinmama platform is up to 3.81% when you make a purchase and for selling your crypto assets, the platform charges a transaction fee ranging between 2.93% and 3.90%.
On the other hand, the transaction fee charged by Gemini is usually $0.99 or 1.49%.
The maker and taker fees of Gemini and Coinmama are 1.99% and 5.50% for both, respectively.
There are also spreads charged by these two platforms which are 2% for Coinmama and 0.50% for Gemini.
3. Supported Fiat Currencies
The users of Coinmama typically are able to use different fiat currencies when they trade such as USD, GBP, EUR, CAD, AUD, and JPY.
On the other hand, the users of Gemini are provided with fiat currency options that include USD, EUR, GBP, AUD, CAD, SGD, and HKD.
4. Supported Crypto Coins
The Gemini platform also supports a large number of crypto coins for its users to choose from to make a trade. The list includes BTC, ETH, XRP, ADA, DOGE, DOT, BCH, LTC, UNI, LINK, FIL, XLM, WBTC, EOS, SOL, AAV, XTZ, ATOM, MKR, DAI, COMP, ZEC, ENJ, GRT, SNX, BAT, MANA, YFI, UMA, ZRX, OMG, BNT, REN, CRV, 1INCH, LRC, KNC, STORJ, GNT, SKL, SAND, BAL, NMR, KEEP, OXT, LOOM, PAXG, BRD, CSP, TBTC, WNXM, FXC, AMP.
In comparison, the list of crypto coins supported by Coinmama seems to be quite short and includes BTC, ETH, LTC, ADA, BCH, and XTZ.
5. Payment Methods
There are different payment methods available on the Gemini platform such as Bitcoin, credit card, MasterCard, Visa card, Silvergate Bank Transfer, Etana, and wire transfer.
On the other hand, Coinmama does not offer as many options. It supports credit and debit cards, Paybis, and Simplex.
6. Few Other Differences
Here are a few other differences that you should not overlook thinking that they are insignificant for comparing between Coinmama and Gemini.
Coinmama does not offer interest accounts to its users but Gemini does and offers up to 8.05% Annual Percentage Yield on them.
If you want to enjoy the convenience of trading on the go then you should go with Gemini because it offers an easy-to-use mobile app as opposed to Coinmama.
And, you should also keep in mind that Coinmama does not allow placing limit orders while Gemini does.
Coinmama is considered to be the best fit for the first-time buyers of crypto due to its easy-to-use features.
However, the beginners can also use the Gemini platform but it also comes with all those functionalities and features that are required to cater to the needs of the advanced crypto traders.
The maximum daily trading amount allowed by Coinmama is $5K while that of Gemini is pretty low at $500.
The year of origin of Coinmama is in 2013 and that of Gemini is 2015, which means Coinmama has been around in the market for a couple of years more which adds to its experience and repertoire.
The location of the head office of Gemini is in the United States and that of Coinmama is in Bratislava, Slovakia.
When it comes to the security of the two platforms, Gemini is a bit more reliable because it has several advanced and innovative security measures in place such as Address Allowlisting, cold storage and biometric login which are all found lacking in Coinmama.
Customer support is provided through email by Gemini whereas the same service is provided by email and via a dedicated hotline by Coinmama.
Which is Better – Coinmama or Gemini?
The simple and short answer to this question is: it depends on your crypto trading needs and preferences.
It is not possible, and would also be unwise to mark Coinmama better than Gemini or vice versa because both have different features.
And, since all crypto exchanges are not created equal, a few features of one may be suitable for a few specific users while others may find them unsuitable.
Therefore, it is better to focus on what exactly you want from the crypto platform and how exactly you want to trade your crypto assets.
This will make things much easier and, in the end, it will help you to team up with the most suitable platform among these two.
This is best done on the basis of the differences mentioned above, and along with that, you should also consider a few other points as follows so that your comparison is comprehensive and foolproof.
If you consider the overall score of the two crypto platforms and the value for money it offers, then obviously you will be inclined towards Coinmama more than Gemini since it beats in both these aspects.
The Coinmama platform will also provide you with a much better and smoother user experience.
In spite of being an expensive crypto platform to use that offers limited crypto coin options, Coinmama is a good platform to go for if you focus primarily on making quick purchases of crypto coins easily.
You will have the convenience of using a simple and easy-to-navigate desktop site, along with support for different payment methods including credit cards, debit cards, Apple Pay, as well as Google Pay.
However, the users of Gemini typically have a larger and more varied set of crypto coins to choose from in comparison to Coinmama which is why the platform also has a large number of active users which is several times more than the 2 million-plus active users of Coinmama.
You can also make your choice based on the fee structure of these two crypto platforms. In that particular aspect, Gemini seems to offer the lowest trading fee percentage in comparison to Coinmama which is about 1% against that of Coinmama which is up to 3.9%.
Also, if you are looking for a crypto exchange that also offers a digital wallet, Gemini is the one to choose over Coinmama.
The security features of Gemini seem to be a bit stronger than Coinmama. However, both the platforms allow Two-Factor Authentication but Coinmama uses only Google Authenticator or Authy while Gemini uses SMS, Authy, or WebAuthn.
Coinmama is a good crypto exchange platform for those users looking for:
- Reasonably good customer support
- Greater accessibility
- A very simple interface
- Multiple buying options
- A higher buying limit
- A non-custodial exchange
- Anonymity and
- Credit and debit card acceptance.
On the other hand, Gemini is a good platform for those who are looking for a platform that:
- Is easy to use
- Is Secure
- Offers analytical tools
- Offers mobile app
- Is beginner-friendly
- Is known for offering competitive fees
- Offers Sandbox account
- Has an intuitive website
- Charges no deposit or withdrawal fees.
Ideally, Gemini is a platform that is expanding at a rapid pace in Europe and Asia and therefore users from these regions prefer using it over Coinmama.
This regulated crypto exchange follows the standards laid down by the FCA and therefore is considered to be a more reliable wallet and custodian service provider by the users.
If you go with it, you will find it much easier to buy and sell Ether, Bitcoin and a large number of different crypto coins.
However, Coinmama is also a good platform that is known for its fast verification process and minimal requirements from the users to get their accounts verified.
In short, it can be said that users who are looking for a good crypto broker exchange should go with Coinmama and those who are looking for a reliable crypto exchange platform, Gemini is highly recommended for them.
Going through this article in its entirety, now you surely know the basic differences between Coinmama and Gemini crypto exchanges. It will be easy for you to determine which among the two will offer you more value for money.