The cryptocurrency market is booming, bringing up new companies and projects. Digital currency exchanges are becoming an essential tool for every investor out there. The cryptocurrency market has a lot of brokers that a customer can choose from. If you are using the right exchange, then you can gain better access to crypto markets and save money.
However, choosing the right exchange requires in-depth research into the features of each exchange. Uphold and Gemini is 2 of the best cryptocurrency exchanges in the market. While they have similarities, they also have their differences. In this blog, we will compare the two cryptocurrency exchanges and find out which broker is better.
Things to Consider in choosing the Best Crypto Brokerage Platform
The most important thing to consider when choosing a crypto brokerage is whether or not it is regulated by a financial authority. This will ensure that the brokerage is held to high standards of financial responsibility and that your money is safe.
Another important thing to consider is the fees associated with the brokerage. Some brokerages charge higher fees than others, so it is important to compare the fees before making a decision.
Finally, you should also consider the customer service offered by the brokerage. This is important because you will want to be able to reach customer service in case you have any problems or questions.
What is Uphold
Uphold is a financial services company that offers a digital wallet and an associated mobile app. The company was founded in 2013 by Halsey Minor.
Uphold offers a variety of features and services, including the ability to buy, sell, and hold a variety of currencies; a debit card that can be used to spend funds from the digital wallet; and a rewards program that allows users to earn points for every transaction made using the Uphold platform. Uphold is headquartered in New York, United States.
What is Gemini
Gemini is a digital asset exchange and custodian that allows customers to buy, sell, and store digital assets such as bitcoin and ether. Gemini is a New York trust company that is subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards of the New York State Department of Financial Services (NYSDFS). Gemini was founded in 2014 by Cameron and Tyler Winklevoss.
Comparison of Gemini vs Uphold’s Features
Gemini and Uphold are both popular digital currency platforms that offer a variety of features and services. Here is a comparison of some of the key features of each platform:
- Exchange: Gemini offers a full-featured exchange that allows users to buy, sell, and trade digital currencies. Uphold also offers an exchange.
- Category: Uphold can use for Trading with Cryptos, Precious Metals, US Stocks, and Environmental Assets but Gemini is only limited to Crypto.
- Automated Trading: Uphold offers automated trading, which allows users to set up rules and conditions for trades to be automatically executed. Gemini does not offer automated trading.
- Flexible Payment: Uphold offers funds to deposit with a credit card and bank whereas Gemini only allows deposits with the bank.
- Credit Card Reward: Uphold Debit Card gives 2% Crypto and 1% USD rewards while Gemini gives up to 3% rewards
Uphold vs Gemini Fees
The company charges a small spread on each trade. The spread is typically 0.8 to 1.2% on BTC and ETH in the U.S. and Europe. In other parts of the world, the spread on the majors is typically around 1.8%. The company also charges a spread of 3% on top of the bid-ask prices at the supplier.
Gemini charges 1.49% for trades over $200 or a fixed fee for trades under $200. They also charge 3.49% on credit or debit card purchases.
Gemini is offering a wide range of cryptocurrencies, more than 100. Uphold is also offering a wide range of cryptocurrency and support up to 200 cryptocurrencies.
So, what’s the verdict? Which broker is best? Truthfully, it depends on your needs. If you’re just looking to buy and sell BTC and ETH, then either of these exchanges will do. We compare two of the leading crypto exchanges Uphold vs Gemini on the market: Gemini and Uphold. We give you a rundown of the main differences between these two platforms so that you can make a decision on which one is best for you.