Comparison of Gemini vs Coinstore [ 2024 ]

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

Your expert: Alejandro Borja

Gemini

Your expert: Xavier Tarrasó

Coinstore

Main points

Fees

0,20%/0,40%

Earns

Customer service

4/5

0.20%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

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

4.0 – Competitive fees with additional benefits for high-volume trading.

Level

0,20%/0,40%

0.20%

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.

Coinstore has a competitive fee structure designed to accommodate various types of traders. For spot trading, Coinstore charges a 0.2% fee for both makers and takers. This rate is in line with industry standards and makes it an attractive option for traders looking for cost-effective trading solutions. When it comes to futures trading, the fees are slightly different. Makers are charged a 0.025% fee, while takers are charged a 0.06% fee. This fee structure incentivizes liquidity provision in the futures market, benefiting active traders who can take advantage of lower maker fees. While Coinstore does not support fiat currency deposits or withdrawals, it facilitates crypto-to-crypto transactions efficiently. Users should be aware that withdrawal fees can vary depending on the specific cryptocurrency being withdrawn, although detailed fee information is not prominently displayed on the website. Overall, Coinstore’s fee structure is straightforward and competitive, particularly for those engaged in frequent trading. The lack of fiat support and transparency in some fee details are areas where potential users should exercise caution and seek further information if needed.

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.

Coinstore

Strong Security Measures: Coinstore implements robust security protocols to protect user assets. The exchange stores 70% of its funds in cold storage, uses AES-256 encryption for wallets and private keys, and requires multi-step verification for account access.
Reputation and Industry Recognition: Coinstore has received accolades within the industry, being named the best exchange in Asia by Crypto 306 and the best rising star by Crypto Expo. Such recognitions highlight the exchange’s commitment to excellence and innovation.
High Volume and User Base: Coinstore has a significant trading volume and user base. The exchange reports a 24-hour trading volume of around $144 million and supports over 1.1 million registered users across 175 countries, indicating its popularity and trustworthiness among traders.
Comprehensive Risk Control: The platform uses bank-level security measures, including real-time reconciliation and a comprehensive risk control system, to ensure the safety of user assets. This further enhances the reliability and trustworthiness of Coinstore.
Regulatory Compliance: As a Singapore-based company, Coinstore complies with the country’s stringent regulatory guidelines. This ensures that the exchange adheres to high standards of security and operational transparency.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Full name

Gemini Trust Company, LLC

Unknown

Regulation

Regulated in the EE. UU.

Not regulated

Year founded

2015

2021

Founder

Tyler y Cameron Winklevoss

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Gemini	FEATURES	Coinstore
Gemini allows for relatively low minimum trades, making it accessible for beginners but has a minimum threshold.	Minimum Trade	Minimum trade amount details not specified but low barrier to entry.
Fees are competitive at higher trade volumes but can be relatively high for smaller transactions.	Trading and Transaction Fees	0.2% fee for spot trading, and 0.025%-0.06% for futures .
Gemini offers a solid selection of major cryptocurrencies but lacks variety in lesser-known altcoins.	Number of Cryptocurrencies	Supports 96 tokens and 94 trading pairs .
Offers a variety of crypto-to-crypto trading pairs, covering most popular combinations.	Crypto-to-Crypto Trading Pairs	94 trading pairs available .
Gemini excels in providing clear and comprehensive details on its operations and policies.	Website Transparency	Lacks detailed information on some aspects, like withdrawal fees .
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	Coinstore does not provide an exchange card for in-store purchases.
Provides top-notch digital asset security with the majority of assets in cold storage.	Storage Offering	70% of assets stored in cold storage, AES-256 encryption used .
Gemini offers staking and rewards but with limited options compared to other exchanges.	Staking and Rewards	No dedicated staking program mentioned .
Both mobile and desktop platforms are highly intuitive, stable, and feature-rich.	Mobile App and Desktop	Full-featured mobile app for Android and iOS available .
Customer support is knowledgeable and responsive, though not available 24/7.	Customer Service	Provides 24-hour chat service but lacks direct phone support .
Deposits and withdrawals are secure with clear policies, though some methods may have fees.	Deposit and Withdraw	Only supports crypto deposits and withdrawals, no fiat support .

Key features

Analysis tools

Basic charting tools

Mobile APP

Security

High 4,9/5

Additional features

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

Margin trading, futures trading, staking, Coinstore Launchpad

Anonymity

Yes

Key points

Available cryptocurrencies

40+

50+

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.

Coinstore features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

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.

Provides decent value for money with competitive fees and a wide range of supported cryptocurrencies, though it may not suit all traders.

Countries of operation

United States, Canada, United Kingdom, Europe, Australia

Singapore, United States, Canada, Australia, United Kingdom

Best for

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

Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.

Base currencies available

USD, BTC, ETH

USDT, 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.

Coinstore offers a variety of cryptocurrencies and competitive fees. It has a user-friendly interface but lower liquidity compared to major exchanges.

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 .

Coinstore supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a day, with low fees.

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.

Coinstore provides an easy account registration process. Users need to submit personal details and verify their identity. The process is efficient and usually takes less than a day, making it user-friendly.

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 .

Coinstore provides support via email and live chat. The support team is responsive, but the lack of 24/7 availability can be a limitation 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.

Coinstore offers strong security features with 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.

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 on our website, I can confidently say that Coinstore is a solid choice for both new and experienced cryptocurrency traders. Its strong security measures, including cold storage and AES-256 encryption, ensure that your assets are well-protected. With a user-friendly interface and a comprehensive mobile app, Coinstore makes trading accessible and convenient. However, keep in mind that it doesn’t support fiat currency transactions and has limited customer service options. If these aspects aren’t deal-breakers for you, Coinstore is a reliable platform worth considering for your crypto trading needs.

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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.