Comparison of Gemini vs Mexc [ 2024 ]

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

Your expert: Alejandro Borja

Gemini

Your expert: Xavier Tarrasó

Mexc

Main points

Fees

0,20%/0,40%

Earns

Customer service

4/5

≈ 0,20%

Fees

Earns

4/5

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.

MEXC Exchange offers competitive trading and transaction fees that cater well to both high-volume traders and occasional users. The platform employs a tiered fee structure, where fees decrease as a user’s trading volume increases, providing an incentive for frequent trading. Additionally, holding the exchange’s native token can yield further discounts, making the fees more advantageous. For those using credit or debit cards for deposits or withdrawals, it’s important to note that while convenient, these methods may incur higher fees compared to other payment options. This structure is designed to be economical for active traders while still accommodating casual users.

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.

Mexc

Security Methods: MEXC employs robust security protocols, including a multi-tier and multi-cluster system architecture that ensures the safety and integrity of user data and funds. This comprehensive security strategy helps to protect against potential cyber threats and unauthorized access.
Reputation and Reviews: MEXC enjoys a strong reputation in the cryptocurrency community, backed by positive user reviews that often highlight the platform’s reliability, user-friendly interface, and responsive support.
Trading Volume and Liquidity The exchange boasts high trading volumes and liquidity, which is a testament to its active user base and efficient market operations. This ensures that users can execute trades quickly and at desired prices, even for large volume transactions.
Year Founded: Since its establishment in 2018, MEXC has shown significant growth and resilience in the fast-evolving crypto market, indicating stability and a deep understanding of market needs.
Possible Regulation: MEXC complies with various international regulatory standards, enhancing its credibility and reliability as a secure platform for trading digital assets. This regulatory adherence assures users of its commitment to lawful and ethical operations.

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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 MX

Earns

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Gemini Trust Company, LLC

MEXC Exchange

Regulation

Regulated in the EE. UU.

Not regulated

Year founded

2015

2018

Founder

Tyler y Cameron Winklevoss

John Chen Ju

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Gemini	FEATURES	Mexc
Gemini allows for relatively low minimum trades, making it accessible for beginners but has a minimum threshold.	Minimum Trade	MEXC allows for relatively low minimum trade amounts, making it accessible for beginners and those trading small amounts.
Fees are competitive at higher trade volumes but can be relatively high for smaller transactions.	Trading and Transaction Fees	Competitive trading fees with discounts available for high-volume traders and token holders, making it economically viable.
Gemini offers a solid selection of major cryptocurrencies but lacks variety in lesser-known altcoins.	Number of Cryptocurrencies	Supports over 1,000 cryptocurrencies, offering one of the widest selections in the market.
Offers a variety of crypto-to-crypto trading pairs, covering most popular combinations.	Crypto-to-Crypto Trading Pairs	Offers a vast array of crypto-to-crypto trading pairs, facilitating diverse trading strategies.
Gemini excels in providing clear and comprehensive details on its operations and policies.	Website Transparency	While MEXC provides ample information on trading operations, more detailed disclosures could enhance trust.
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	Lacking an exchange card means MEXC users miss out on potential everyday use benefits, such as cashback in crypto on purchases or other rewards that are commonly offered by some other crypto exchanges with proprietary cards.
Provides top-notch digital asset security with the majority of assets in cold storage.	Storage Offering	Provides secure storage solutions, but enhanced features for asset management could improve user experience.
Gemini offers staking and rewards but with limited options compared to other exchanges.	Staking and Rewards	Offers competitive staking options and rewards, appealing to long-term holders and active traders.
Both mobile and desktop platforms are highly intuitive, stable, and feature-rich.	Mobile App and Desktop	The mobile and desktop platforms are highly user-friendly, offering full trading functionality and good design.
Customer support is knowledgeable and responsive, though not available 24/7.	Customer Service	Customer support is available but improvements are necessary in response time and effectiveness.
Deposits and withdrawals are secure with clear policies, though some methods may have fees.	Deposit and Withdraw	Deposits and withdrawals are handled efficiently, though clarity on timeframes and fees would enhance service.

Key features

Analysis tools

Basic charting tools

Advanced charting tools, technical analysis

Mobile APP

Yes

Security

High 4,9/5

Additional features

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

Margin trading, futures trading, staking, MEXC Launchpad

Anonymity

Yes

Key points

Available cryptocurrencies

40+

1000+

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.

MEXC provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

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 good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for 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.

Best for traders 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.

MEXC offers a wide range of cryptocurrencies and advanced trading tools. It has competitive fees and high liquidity, making it suitable for experienced 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 .

MEXC offers multiple 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.

MEXC provides a straightforward and user-friendly account opening process. Users need to submit personal details and verify their identity. The process is efficient and usually takes 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 .

MEXC provides extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, ensuring users get timely assistance.

Security

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

MEXC employs robust security features, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some 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 on our website, I recommend MEXC Exchange for its impressive array of over 1,000 cryptocurrencies and robust trading options, making it ideal for both new and seasoned traders. However, potential users should note the areas needing improvement, particularly customer service responsiveness. Overall, if you’re looking for a platform with high liquidity and diverse trading capabilities, MEXC is a solid choice, but be prepared for possible delays in support when you need assistance.

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Read mexc review

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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.