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Gemini Alternatives: 5 Better Platforms

In this guide, we outline the disadvantages of Gemini and provide 4 alternatives to help you trade with lower costs and more security.
Gemini Alternatives: 4 Better Platforms for 2020
Gemini Alternatives: 4 Better Platforms for 2020

Gemini is one of the first cryptocurrency exchanges that allowed users to buy and sell cryptocurrencies.

It was founded in 2014 by the brothers Cameron and Tyler Winklevoss and has grown to become among the largest cryptocurrency exchanges in terms of trading volume and supported countries. However, there are a number of flaws with this exchange.

In this guide, we will suggest 5 alternatives to Gemini that provide lower fees and more security.

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    What are some disadvantages of Gemini?

    Gemini has gained popularity since its launch and now has a market cap of over $26 million, counting with a large user base around the word.

    Gemini was specifically designed as a web-based platform that enables users to buy and sell digital assets and, if necessary, to store these cryptocurrencies on its own built-in electronic wallet.

    gemini-crypto-exchange-winklevoss

    And yet, with all the benefits that the exchange has to offer, there are some Gemini alternatives that enable traders a much more effective way to trade cryptocurrencies.

    However, the truth must be said, the Gemini platform (including the Gemini ActiveTrader) is not really a trading dashboard where you can execute a large number of trades.

    Gemini has based its product on the needs of clients who want to find a secure cryptocurrency platform. This exchange is suitable for those who are interested in exchanging large amounts of fiat currency and but one of the top five cryptocurrencies offered by Gemini. Gemini is regulated by the New York State Department of Financial Services (NYSDFS) and is the first-ever licensed ether and Zcash exchange.

    There are some notable flaws in the Gemini exchange. The US-Based crypto exchange has mixed reviews for a reason (the exchange has poor reviews on TrustPilot). We have listed some of the main disadvantages of Gemini:

    • A limited selection of five cryptocurrencies – Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and ZCASH.
    • Gemini trading services are available in only five countries – The United States, Australia, Canada, Hong Kong, and Singapore.
    • Gemini does not offer margin trading
    • Long and complicated verification process
    • Gemini holds users’ private keys
    • High trading and financing fees
    • Limited support channels
    The Gemini exchange is a favorite choice amongst institutional investors with high-volume transactions thanks to its strict regulatory framework. The exchange takes pride in being a top platform serving large institutions. Gemini also allows users to buy Ethereum and other cryptos and sell cryptocurrencies with fiat currencies, which is not available on many other crypto exchanges.

    But if you are the average Joe, you will likely want to find a better choice before you start trading. We have collected four Gemini alternatives with lower fees, leveraged trading, and a wider selection of currencies. These online platforms are based on the principle of Contract for Difference (CFDs), meaning they allow you to speculate on a security price without owning it. Let’s find out more about Gemini alternatives.

    Best Gemini Alternative in August 2022

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    for $1000 you get0.0420 BTC
    68% of retail CFD accounts lose money.
    Features
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    Compare Gemini Alternatives

    broker-logo
    68% of retail CFD accounts lose money.
    broker-logo
    74% of retail investor accounts lose money when trading CFDs with this provider.
    broker-logo
    The price and value of any investment in digital asset products can fluctuate.
    broker-logo
    The traded price of digital tokens can fluctuate greatly within a short period of time.
    broker-logo
    Market prices for digital tokens can be volatile and highly unpredictable.
    broker-logo
    As with any asset, the values of digital currencies may fluctuate significantly.
    broker-logo
    The value of digital currencies can go up or down frequently.
    broker-logo
    71% of retail CFD accounts lose money.
    broker-logo
    As prices of digital assets are highly volatile, users could lose all or a substantial portion of the value of any digital asset they purchase.
    Rating
    5.0
    4.7
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    4.6
    4.5
    4.4
    4.3
    4.1
    4.0
    Mobile App Rating
    10/10
    9/10
    9/10
    8/10
    8/10
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    9/10
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    Mobile App
    Wallet
    Number of Coins
    14059223615566215120
    Trading Fees
    SpreadsSpreads0.1%0.1%0.1%0.1%0.50%Spreads0.2%
    Deposit Fees
    N/AN/AN/AN/AN/AN/AN/AN/AN/A
    Withdrawal Fees
    $5N/A0.0005 BTCN/AN/AN/AN/AN/AN/A
    Regulated
    ASIC, CySEC, FCACySECN/AN/AN/AFCAFCACBI, MiFIDN/A
    Min. Deposit
    $50100 EURN/AN/A$10$10$2$100N/A
    Leveraged Trading
    N/AN/A1 - 100x1 - 100x1 - 10x1 - 100xN/A1 - 30x1-200x
    Bitcoin
    $23820.10$23912.99$23835.58$40391.88$40393.04$40404.41$40416.27$23901.08$40377.55
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    $1.00N/A$1.00$1.00N/AN/A$1.00N/AN/A
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    $63.82$62.94N/A$109.04N/A$109.10$109.04$63.01$108.99
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