Swen Keller
Swen Keller
In the crypto world Swen has consistently found success through his effective communication skills and the unique ability to navigate the details.
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    Coinbase vs. Gemini Singapore: Which is best in 2023?

    Coinbase Singapore review
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    In this article, we compare Coinbase and Gemini Singapore cryptocurrency exchanges by analyzing their fees, payment methods, NFT availability, and much more. To come up with our conclusions our crypto experts carried out extensive research and had first-hand experience with both platforms.

    Coinbase vs. Gemini Singapore: Verdict

    Our pick is Coinbase as the platform caters to both advanced and beginner traders while offering a simple fee structure.

    Pros

    Cons

    Pros

    Cons

    Coinbase vs. Gemini Singapore: Unique features

    Unique Features of Coinbase

    1 – Coinbase Debit Card

    The Coinbase debit card is a Visa card that allows Coinbase users to make payments from their Coinbase account balance. The card is accepted anywhere Visa cards are accepted worldwide.

    Coinbase cardholders earn free crypto back on all purchases they make with the card. The cardholder can determine which cryptocurrency they earn their reward in and they can switch to a different cryptocurrency whenever they wish to. Coinbase users who are eligible for the Coinbase Card are not subject to any form of credit check. Cardholders are also not charged any spending fees or annual fees.

    Currently, the Coinbase Card is only available to Coinbase users who live in the United States, except in Hawaii.

    2 – Coinbase wallet

    The Coinbase wallet is a self-custodial crypto wallet that allows you to store your crypto assets and rare NFTs in one place. Being a self-custodial wallet, the user has full control of his cryptocurrencies, private keys, and data.

    The Coinbase wallet is different from the Coinbase mobile app and can be used by individuals who do not have a Coinbase account. With the Coinbase Wallet, users can swap digital assets on decentralized exchanges, supply or borrow crypto using DeFi liquidity pools and join a DAO to shape a significant web3 project.

    The Wallet supports the buying of cryptocurrencies and trading cryptocurrency in over 90 countries with credit or debit cards. It also supports every ERC-20 coin and hundreds of other crypto coins and Dapps.

    The Coinbase wallet allows users to create wallet usernames. These usernames are a replacement for the alphanumeric characters used as wallet addresses by most blockchain networks. Every user can create a unique wallet username and send and receive funds via the username.

    3 – Coinbase Vault

    Coinbase Vault

    The Coinbase Vault is a cold storage facility designed for Coinbase users that wish to store their crypto assets long-term. The vault was launched in 2014 and it primarily caters to retail investors in the crypto world.

    The Coinbase Vault is a part of the Coinbase account and can receive cryptocurrencies like the normal Coinbase account. The major difference between the Vault and the regular account is that stored crypto can not be immediately withdrawn from the Vault. To make any withdrawals, you will have to take additional security steps. Withdrawals are delayed until these requirements are met. Vault users can add other individuals to co-sign all withdrawals. Without the approval of these other parties, withdrawals from the Vault are not approved.

    The Vault also has a security feature that ensures that all withdrawal processes are approved after creation. If a Vault withdrawal is not approved, it will be canceled in 24 hours. For security reasons, the Coinbase support team cannot bypass the waiting period on Vault withdrawals.

    Users can still receive rewards on their stored cryptocurrencies if the stored currency is eligible for staking rewards or APY. The Vault does not support DeFi Yield.

    Unique Features of Gemini Singapore

    1 – Gemini Earn

    Gemini Earn is a staking program that allows users to earn up to 8.05% APY on the cryptocurrency held for a fixed period. To start earning with Gemini Earn, the user must purchase any amount or cryptocurrency on their Gemini account and transfer it to Gemini Earn.

    Users can choose to redeem and move their cryptocurrencies from Gemini Earn back to the regular trading account at any time. No minimums or transfer and redemption fees are required. The interest earned while the crypto was locked is also paid to the user.

    2 – Gemini Credit Card

    Gemini Credit Card

    The Gemini credit card is a Mastercard that allows Gemini users to earn crypto rewards with every purchase they make with the card. The card is accepted anywhere Mastercard is accepted worldwide.

    Users can earn rewards in Bitcoin, Ethereum, and over 60 other cryptocurrencies. All crypto rewards earned when using the card are instantly credited into the account of the cardholder.

    The card pays up to 3% back on dining, 2% back on groceries, and 1% back on other purchases. Cardholders are not charged an annual fee or foreign transaction fees. They are also not charged any exchange fees to acquire their rewards.

    The Gemini card has a digital version and a physical card. Users who choose to own a physical card can get the card in black, silver, or rose gold stainless steel. The card is made from 75% recycled material.

    3 – Gemini Mobile App

    The Gemini mobile app gives users access to the Gemini exchange and wallet on the go. The app is available for download on the Apple store, Galaxy store, and Google Play. With the mobile app, Gemini users can easily buy, sell and store their digital assets. They can also track crypto prices and access real-time market trends.

    The mobile app also sends price alerts to users. This enables them to make purchases or sales when the price is right.

    Winner in Unique Features

    Gemini wins in unique features as it has more features that cater to both individual and corporate users.

    Coinbase vs. Gemini Singapore: Cryptocurrencies Available

    Coinbase supports over 150 cryptocurrencies. This includes BTC, ETH, LTC, TRX, AVAX, LINK, ATOM, ETC, BCH, ALGO, LUNA, HBAR, APE, etc.

    Gemini Singapore supports over 100 cryptocurrencies. This includes BTC, BCH, APE, BAT, ETH, DAI, DOGE, CRV, FIDA, GALA, LTC, MATIC, SAND, UNI, AVAX, etc.

    Winner in Crypto Availability

    Coinbase wins in crypto availability as it supports more cryptocurrencies than Gemini.

    Coinbase vs. Gemini Singapore: Can You Buy and Sell NFTs?

    Gemini NFT Marketplace (separate platform to the exchange)

    You can buy and sell NFTs on Gemini’s cryptocurrency exchange via the Nifty Gateway NFT marketplace. The platform supports purchases both via fiat currencies and prepaid ETH balances.

    You can buy and sell NFTs on the Coinbase cryptocurrency exchange via the Coinbase NFT platform. Coinbase crypto exchange requires that you use Ethereum to purchase NFT on the platform.

    Winner in NFTs Availability

    Both Coinbase NFT and Nifty struggled to gain user acceptability. However, Nifty makes it easier to buy NFTs as it offers credit/debit card options and for that, it wins here.

    Coinbase vs. Gemini Singapore: Fees

    The Coinbase cryptocurrency exchange offers the following trading fees, withdrawal fees, etc. for cryptocurrency transactions:

    Trading Volume Taker Fee Maker Fee
    Stable Pairs 0.001% 0.00%
    Tier 1 $0 - $10K 0.60% 0.40%
    Tier 2 $10K - $50K 0.40% 0.25%
    Tier 3 $50K - $100K 0.25% 0.15%
    Tier 4 $100K - $1M 0.20% 0.10%
    Tier 5 $1M - $15M 0.18% 0.08%
    Tier 6 $15M - $75M 0.16% 0.06%
    Tier 7 $75M - $250M 0.12% 0.03%
    Tier 8 $250M - $400M 0.08% 0.00%
    Tier 9 $400M+ 0.05% 0.00%

    Fiat Deposit and Withdrawal Fees

    Deposit Fee Withdrawal Fee
    ACH Free Free
    Wire (USD) USD 10 USD 25
    SEPA (EUR) EUR 0.15 EUR 0.15
    Swift (GBP) Free £1

    The Gemini Singapore cryptocurrency exchange platform offers different trading fees depending on the product and usage level of the taker and maker model. It has a different transaction fee for trades performed on the web versus those performed on mobile or API or the Active Trader platform for example. However, regardless of the platform, the highest fee when you start trading on the Gemini exchange is a 0.40% taker fee.

    Winner in Fees

    Coinbase wins in fees as while the crypto exchange has higher fees, it presents a clearer fee structure. Further, the more advanced version Coinbase Pro, offers lower fees on the available financial products. Gemini Singapore has a clustered and confusing fee structure that will certainly throw a beginner off balance. Both, Gemini and Coinbase, have higher than usual fees for trading compared to many other competitors.

    Coinbase vs. Gemini Singapore: Payment Methods

    Coinbase allows Singaporean users to purchase digital assets using a credit or debit card as long as the card uses 3D Secure.

    The Gemini cryptocurrency exchange allows Singaporean users to purchase digital assets using a debit card, cryptocurrency coins, Xfers account, and FAST bank transfer.

    Winner in Payment Methods

    Gemini Singapore offers more payment methods for fiat money between the 2 crypto exchanges so it wins here.

    Coinbase vs. Gemini Singapore: Security

    Coinbase Security

    Coinbase stores 98% of its assets in cold storage wallets offline. Customers’ deposits are also insured through the Federal Deposit Insurance Corporation with up to $250,000 per account. This insurance only covers US customers holding US Dollar deposits.

    The hot wallet addresses used by users on the exchange are encrypted with the AES-256 encryption standard. All personally identifiable information (PIP) is stored offline, encrypted, and split into multiple FIPS140 USB drives. All account passwords are hashed before storage and the mobile app and website are SSL-encrypted to ensure safe payments.

    Account holders can also protect their Coinbase accounts with two-factor authentication using their phone, hardware keys, and 2FA apps.

    Gemini Singapore Security

    Gemini is ISO27001 certified and SOC 1 Type 2 and SOC 2 Type 2 compliant. It operates under the supervision of the Monetary Authority of Singapore. Gemini holds the majority of its assets in cold storage offline. The remaining assets held in hot wallets are insured against certain losses.

    Two-factor authentication is required to access every Gemini account and to make crypto withdrawals.

    Winner in Security

    There is no winner here as both crypto exchanges have good security and insurance for digital assets stored online and offline.

    Coinbase vs. Gemini Singapore: Earn/Staking Rewards

    Coinbase is one of the many cryptocurrency exchanges that offer staking via its Earn platform. Users that decide to stake one of the approved coins in the crypto exchange can earn up to 5.75% APY. The Earn platform offers the following coins for both staking and DeFi Yield; Algorand, Cardano, Cosmos, DAI, Ethereum, Solana, Tezos, USD Coin, and USDT.

    The Gemini crypto exchange offers a staking program that allows investors to earn up to 4.33% APY on just 2 crypto assets; Polygon and Ether.

    Winner in Earn/Staking Rewards

    Coinbase wins in its staking offerings as while both cryptocurrency exchanges offer staking, it provides a higher APY, more staking assets, and additional earn options.

    Coinbase vs. Gemini Singapore: Usability

    Coinbase Pro

    Coinbase is arguably the best cryptocurrency exchange for beginners as it is incredibly easy to use for newbies. It also offers an advanced trading platform via Coinbase Pro for more seasoned traders who want products like margin trading, etc.

    Just like Coinbase, Gemini crypto exchange offers support to both beginner and advanced users. Its user interface for buy and sell orders is quite simple to understand. Advanced traders can use its ActiveTrader platform which features advanced charting tools, multiple order types, futures trading, etc.

    Winner in Usability

    These 2 cryptocurrency exchanges offer excellent usability for both experienced and newbie traders. So it is a draw here.

    Coinbase vs. Gemini Singapore: Customer Service

    Coinbase users can chat with the Coinbase virtual assistant via the chat feature on the page. They contact the support team via phone support, email, or by filing a complaint. To file a complaint, you will first need to submit a support ticket.

    Gemini users can relay their complaints to the support team by raising a support ticket or clicking on the Support icon on the Gemini website. They can also type their request into the Chatbot on the website. The Chatbot will help them find a relevant Support article.

    Winner in Customer Service

    There is no winner as both exchanges have their strengths and weaknesses. Coinbase has more support options than Gemini but it is easier to contact the Gemini supply team than the Coinbase support team.

    Conclusion: Final Verdict

    Comparing Gemini vs Coinbase shows that these are 2 of the best crypto exchanges in the world, however, Coinbase wins here as it is a lot simpler to navigate for newbies, has a clearer fee schedule, and offers more cryptocurrencies. Gemini Singapore caters better to advanced users.

    Overall Winner: Coinbase

    FAQ