Comparison of Binance Us vs Gemini [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Binance Us vs Gemini comparison!

Your expert: Alejandro Borja

Binance Us

Your expert: Xavier Tarrasó

Gemini

Main points

Fees

0,00%/0,40%

Earns

Yes

Customer service

4/5

0,20%/0,40%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.7 – Low fees comparable to its global counterpart.

3.5 – Higher fees but strong security and ease of use.

Level

0,00%/0,40%

0,20%/0,40%

Brief explanation

Binance US is known for its competitive and low fee structure, which is one of its most attractive features. The exchange operates on a tiered fee system where trading fees are reduced based on trading volume and Binance Coin (BNB) balance, making it particularly appealing for high-volume traders. Typically, trading fees start low and can decrease further with higher trade volumes and the use of BNB for transaction fees. This fee structure not only encourages active trading but also enhances profitability by keeping transaction costs minimal. Deposit fees are generally non-existent, but withdrawals incur a small fee that varies depending on the cryptocurrency being withdrawn. For traders using credit or debit cards, higher transaction fees may apply, making it important to consider the most cost-effective payment method when trading.

Gemini’s commission structure is multifaceted, tailored to accommodate both high-volume traders and those just starting out. For smaller transactions, particularly those made via the mobile app or web interface, the fees can be relatively high, which might deter low-volume or novice traders. However, as trading volume increases, the fees become more competitive, aligning with industry standards to favor more active traders. The exchange employs a tiered fee schedule, which decreases per transaction fees for users who have a higher 30-day trading volume. This tiered system is designed to incentivize and reward frequent trading with lower transaction costs. Overall, while Gemini’s fees are competitive at higher volumes, they can be considered steep for users making smaller or infrequent trades.

Binance Us

Security Methods: Binance US employs robust security protocols, including advanced encryption, multi-signature technology, and two-factor authentication (2FA). These measures ensure the safety of users' funds and personal information.
Customer Service: Binance US offers responsive and accessible customer support through various channels, including live chat and email. This ensures that users can quickly resolve any issues or get assistance when needed.
Reputation and Reviews: Binance US is well-regarded in the crypto community, with generally positive reviews from users and industry experts. The exchange's reputation for reliability and user satisfaction further enhances trust.
Volume Managed: Binance US manages a significant trading volume, indicating a high level of liquidity. This means that users can execute large transactions with minimal impact on the market price, ensuring efficient trading.
Regulation: Binance US operates under strict regulatory compliance, adhering to US financial regulations. This ensures transparency and accountability, providing users with confidence in the platform's integrity.

Gemini

Security Methods: Gemini employs state-of-the-art security measures, including the use of cold storage for the majority of the assets, two-factor authentication, and strict operational protocols. This rigorous approach to security minimizes the risk of hacking and unauthorized access, ensuring the safety of user funds.
Possible Regulation: As a New York trust company, Gemini operates under the regulatory oversight of the New York State Department of Financial Services (NYSDFS). This compliance with one of the strictest regulatory frameworks in the cryptocurrency world underscores Gemini's commitment to legal and ethical operations.
Reputation and Reviews: Gemini has built a strong reputation within the cryptocurrency community for its transparency and reliability. User reviews often highlight the platform's user-friendly interface and the peace of mind that comes with trading on a regulated exchange.
Transparency: Gemini is known for its clear and straightforward communication regarding its operations, fees, and security measures. This level of transparency is critical in building trust with users and is indicative of the exchange's commitment to fair and open practices.
Withdrawal and Deposit Policies: Gemini offers structured and secure withdrawal and deposit policies, including FDIC insurance on USD deposits. These policies are clearly outlined, easy to understand, and designed to protect users' interests, making it easier for traders to manage their funds efficiently and with confidence.

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Account Minimum

Get started with just $100.

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Direct link to the website

Product selection

Native token

Token BNB

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

BAM Trading Services Inc.

Gemini Trust Company, LLC

Regulation

Regulated in the EE. UU.

Year founded

2019

2015

Founder

Operated by BAM Trading Services (non-specific founder)

Tyler y Cameron Winklevoss

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Binance Us	FEATURES	Gemini
Allows small minimum trades, accessible for beginners.	Minimum Trade	Gemini allows for relatively low minimum trades, making it accessible for beginners but has a minimum threshold.
Competitive low fees, beneficial for high-volume traders.	Trading and Transaction Fees	Fees are competitive at higher trade volumes but can be relatively high for smaller transactions.
Offers a wide selection, though less than its global counterpart.	Number of Cryptocurrencies	Gemini offers a solid selection of major cryptocurrencies but lacks variety in lesser-known altcoins.
Extensive range of trading pairs, providing good market flexibility.	Crypto-to-Crypto Trading Pairs	Offers a variety of crypto-to-crypto trading pairs, covering most popular combinations.
Generally clear info, but some users desire more detailed disclosures.	Website Transparency	Gemini excels in providing clear and comprehensive details on its operations and policies.
Binance US does not offer an exchange card for in-store purchases and benefits.	Credit/Debit Card	This card provides up to 3% back in Bitcoin or other cryptocurrencies on dining purchases, 2% on groceries, and 1% on all other purchases, making it a valuable addition for users looking to integrate their crypto investments with everyday spending.
Offers secure storage solutions, including cold storage options.	Storage Offering	Provides top-notch digital asset security with the majority of assets in cold storage.
Provides staking options with competitive rewards.	Staking and Rewards	Gemini offers staking and rewards but with limited options compared to other exchanges.
Highly functional and user-friendly on both platforms.	Mobile App and Desktop	Both mobile and desktop platforms are highly intuitive, stable, and feature-rich.
Reports of slow response times can be a significant drawback.	Customer Service	Customer support is knowledgeable and responsive, though not available 24/7.
Efficient processes, though some reports of delays with fiat withdrawals.	Deposit and Withdraw	Deposits and withdrawals are secure with clear policies, though some methods may have fees.

Key features

Analysis tools

Similar to Binance with advanced charting and indicators

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

Additional features

Staking, recurring buys, OTC trading, educational resources

Gemini Earn, staking, Gemini Pay, Gemini dollar (GUSD)

Anonymity

Key points

Available cryptocurrencies

100+

40+

User-friendliness

Binance US provides a user-friendly platform similar to its global counterpart, tailored to the US market. The interface is clean and intuitive, making it easy for new traders to get started with cryptocurrency trading.

Gemini is known for its highly user-friendly interface, making it one of the best choices for beginners. The platform is simple to navigate, and buying and selling cryptocurrencies is straightforward and hassle-free.

Value for money

Provides great value for money with low trading fees and a wide selection of cryptocurrencies tailored for the US market.

Provides reasonable value for money with higher fees but strong security features and a user-friendly interface, making it suitable for beginners.

Countries of operation

United States

United States, Canada, United Kingdom, Europe, Australia

Best for

Best for US-based traders looking for a reliable and user-friendly platform with low fees and a wide selection of cryptocurrencies.

Great for beginners and experienced traders who prioritize security and ease of use, despite higher fees.

Base currencies available

USD, BTC, USDT

USD, BTC, ETH

Account

Trading

Binance US offers a streamlined version of Binance for American users, providing a good selection of cryptocurrencies and competitive fees. It maintains high security standards, though the variety of coins is less extensive than the global platform.

Gemini is known for its high security and regulatory compliance. It offers a user-friendly platform and a good range of cryptocurrencies but has higher fees compared to some exchanges.

Deposit and withdrawal

Binance US offers similar deposit and withdrawal methods to its global counterpart, including bank transfers and credit/debit cards. Withdrawals are typically processed within a day, with competitive fees.

Gemini offers secure deposit and withdrawal methods, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed efficiently, usually within a day, with competitive fees .

Account opening process

Binance US has a similar account opening process to its global counterpart. Users need to provide personal details, verify their identity, and the process is usually completed within a day. It’s user-friendly and secure.

Gemini provides a user-friendly and secure account opening process. Users need to submit personal information and verify their identity. The process is fully digital and usually completed within a day.

KYC required?

Yes

Customer Service

Binance US offers support through email and live chat, similar to its global counterpart. The support team is responsive, and assistance is available 24/7, ensuring users get timely help.

Gemini provides extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, making it reliable for users globally .

Security

Binance US provides strong security with 2FA, encryption, and cold storage. It is regulated by the U.S. financial authorities, ensuring high security for investors .

Gemini employs comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by multiple financial authorities, ensuring high security for investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I highly recommend Binance US for its strong security measures and high liquidity, which make it a reliable choice for both new and experienced traders. The platform’s user-friendly interface and responsive customer support enhance the overall trading experience, although the absence of an exchange card is a minor drawback. Overall, Binance US stands out for its robust performance in the US market.

Xavier Tarrasó

In conclusion, Gemini stands out as a robust and reliable cryptocurrency exchange, making it a solid choice for users ranging from beginners to experienced traders. At Threenvest, we recognize Gemini’s commitment to security and regulatory compliance as one of its strongest selling points. This adherence not only ensures the safety of user assets through measures like cold storage and insured hot wallets but also instills confidence due to its regulatory status under the New York State Department of Financial Services. However, it’s important to note that while Gemini excels in security, its fee structure, particularly for low-volume traders, can be a deterrent compared to other platforms that offer lower fees for small transactions. Additionally, Gemini’s user interface, both on the web and mobile app, is designed with clarity and ease of use in mind, which is a significant advantage for those new to cryptocurrency trading. The exchange also provides a range of educational resources that enhance user understanding and engagement with the market. However, the limited selection of altcoins might pose a restriction for users looking to diversify into less mainstream cryptocurrencies. At Threenvest, while we appreciate the security and user-friendly aspects of Gemini, we also advise potential users to consider their trading volume and investment goals when choosing an exchange. Overall, Gemini is recommended for those who prioritize security and a regulated environment, but it may be less suited for those seeking lower fees or a wider range of cryptocurrencies.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.