Comparison of Gemini vs Bitso [ 2024 ]

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

Your expert: Alejandro Borja

Gemini

Your expert: Xavier Tarrasó

Bitso

Main points

Fees

0,20%/0,40%

Earns

Customer service

4/5

0,075%/0,098%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

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

3.9 – Competitive fees within Latin America.

Level

0,20%/0,40%

0,075%/0,098%

Brief explanation

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.

Bitso maintains a competitive edge in the crypto exchange landscape through its straightforward and relatively low fee structure. The platform employs a maker-taker fee model, which incentivizes market liquidity. Makers, who add liquidity by placing limit orders, enjoy lower fees compared to takers, who remove liquidity by executing against existing orders. Fees can vary depending on the user’s 30-day trading volume, promoting more frequent trading by offering decreasing fees for higher volumes. This tiered approach not only supports active traders but also ensures the platform remains accessible to newcomers, keeping initial costs lower than many other exchanges.

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.

Bitso

Year Founded: Established in 2014, Bitso has a long-standing presence in the cryptocurrency market. This longevity is a testament to its resilience and adaptability in the rapidly evolving crypto environment.
Security Methods: Bitso employs robust security measures including two-factor authentication, cold storage of digital assets, and multi-signature wallets. These practices ensure a high level of security for user funds and transactions.
Possible Regulation: Bitso is regulated by the Gibraltar Financial Services Commission (GFSC), one of the few cryptocurrency exchanges in Latin America to be overseen by such a respected regulatory body. This regulation reinforces Bitso's commitment to compliance and security standards.
Trading Volume and Liquidity: Bitso provides substantial trading volume and liquidity, making it easier for users to execute trades efficiently and at desired prices. This is particularly beneficial in a market known for its volatility, where trading depth can significantly impact transaction costs and speed.
Customer Service: Bitso offers exceptional customer service with support available 24/7 through multiple channels, including live chat and a comprehensive help center. This dedication to customer support ensures that users' queries and issues are addressed promptly and effectively, enhancing the overall user experience.

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Account Minimum

Get started with just $100.

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Gemini Trust Company, LLC

Bitso SAPI de CV

Regulation

Regulated in the EE. UU.

Regulated in México

Year founded

2015

2014

Founder

Tyler y Cameron Winklevoss

Pablo González, Ben Peters, Daniel Vogel

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Gemini	FEATURES	Bitso
Gemini allows for relatively low minimum trades, making it accessible for beginners but has a minimum threshold.	Minimum Trade	The minimum trade amount is low, enabling accessibility for traders of all sizes.
Fees are competitive at higher trade volumes but can be relatively high for smaller transactions.	Trading and Transaction Fees	Bitso offers competitive fees, with a sliding scale that benefits high-volume traders.
Gemini offers a solid selection of major cryptocurrencies but lacks variety in lesser-known altcoins.	Number of Cryptocurrencies	Bitso supports major cryptocurrencies but has a more limited selection compared to larger exchanges.
Offers a variety of crypto-to-crypto trading pairs, covering most popular combinations.	Crypto-to-Crypto Trading Pairs	Offers a moderate range of crypto-to-crypto trading pairs, adequate for most traders.
Gemini excels in providing clear and comprehensive details on its operations and policies.	Website Transparency	Bitso provides clear and detailed information on its operations and security measures.
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.	Credit/Debit Card	Bitso lacks a dedicated exchange card, limiting its utility for in-store cryptocurrency transactions and associated benefits.
Provides top-notch digital asset security with the majority of assets in cold storage.	Storage Offering	Secure storage with cold wallets and multi-signature technology to ensure safety.
Gemini offers staking and rewards but with limited options compared to other exchanges.	Staking and Rewards	Provides some options for staking and rewards but not as extensive as some competitors.
Both mobile and desktop platforms are highly intuitive, stable, and feature-rich.	Mobile App and Desktop	Highly functional and user-friendly mobile and desktop platforms that enhance trading experience.
Customer support is knowledgeable and responsive, though not available 24/7.	Customer Service	Excellent customer support with 24/7 access via multiple channels, including live chat.
Deposits and withdrawals are secure with clear policies, though some methods may have fees.	Deposit and Withdraw	Efficient deposit and withdrawal processes, though mainly tailored to Mexican users.

Key features

Analysis tools

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4/5

Additional features

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

Crypto-to-crypto trading, Bitso Transfer (payment service), staking, educational resources

Anonymity

Key points

Available cryptocurrencies

40+

30+

User-friendliness

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.

Bitso provides a straightforward and user-friendly interface, ideal for beginners. The platform focuses on making cryptocurrency trading accessible and easy to understand for new users.

Value for money

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

Delivers decent value for money with competitive fees and a strong presence in Latin America, making it a good choice for regional users.

Countries of operation

United States, Canada, United Kingdom, Europe, Australia

Mexico, Argentina, Brazil

Best for

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

Suitable for Latin American investors, particularly those in Mexico, Argentina, and Brazil, looking for a reliable platform with competitive fees.

Base currencies available

USD, BTC, ETH

MXN, ARS, BRL, BTC

Account

Trading

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.

Bitso is the leading exchange in Latin America, offering a variety of cryptocurrencies and easy fiat integration. It is user-friendly but might not have the advanced tools needed by professional traders.

Deposit and withdrawal

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 .

Bitso provides easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, typically within a day. Fees are competitive, making it a good choice for Latin American users.

Account opening process

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.

Bitso’s account opening process is simple and fully digital. Users need to provide personal information and verify their identity. The process is quick, typically taking less than a day to complete.

KYC required?

Yes

Customer Service

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 .

Bitso provides support through email and live chat. The support team is knowledgeable and responsive, but the lack of 24/7 support may be a drawback for some users.

Security

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

Bitso ensures security through 2FA, encryption, and cold storage. It is regulated by Mexican authorities, providing a secure environment for investors.

Which of these exchanges is for you?

Alejandro Borja

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.

Xavier Tarrasó

As an expert reviewer on our website, I find Bitso to be a solid choice for traders, especially those based in Latin America. Its strong regulatory compliance, combined with a user-friendly interface and dedicated customer service, makes it a reliable platform. However, if you’re looking for a wider variety of cryptocurrencies or need more global payment options, you might want to explore other exchanges. Nonetheless, for those new to cryptocurrency or primarily trading in Mexican Pesos, Bitso offers an excellent starting point.

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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.