Gemini vs Coinbase — Head-to-Head Custody Comparison

An independent, data-driven comparison of Gemini and Coinbase across security, insurance, fees, regulatory compliance, and more.

Verdict

Quick Verdict

Gemini scores 7.9 vs Coinbase's 7.8. Gemini leads in 4 of 8 categories.

Gemini is better suited for Compliance-focused users, NY-based investors, Security-conscious traders. Coinbase is better suited for Beginners, US-based investors, Passive holders.

7.9

GoodCustody Score

Gemini

7.8

GoodCustody Score

Coinbase

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Gemini	Coinbase	Winner
Security	20%	8.5	8.0	Gemini
Insurance	15%	7.5	7.0	Gemini
Regulatory	15%	9.0	9.5	Coinbase
Fee Transparency	10%	7.0	6.0	Gemini
Track Record	15%	7.5	8.5	Coinbase
Withdrawal Flexibility	10%	8.5	8.0	Gemini
Reporting & Audit	10%	9.0	9.0	Tie
Counterparty Diversification	5%	2.0	2.0	Tie
Overall Score	100%	7.9	7.8	Gemini

Visual

Score Radar

Visual overlay of Gemini and Coinbase across all categories.

GeminiCoinbase

Deep Dive

Category-by-Category Analysis

A deeper look at how each provider performs in every scoring criterion.

Security (8.5 vs 8.0)

Gemini uses Institutional hot/cold custody key management with 95%+ in cold storage and regular penetration testing. Compliance: SOC 2 Type 2. Incident history: Gemini Earn issues (Genesis lending). Exchange itself unbreached..

Coinbase uses Institutional cold storage system key management with 98%+ in cold storage and regular penetration testing. Compliance: SOC 2 Type 2. Incident history: 2021 account takeover attacks (phishing, not platform breach).

Insurance (7.5 vs 7.0)

Gemini offers $200M+ hot wallet insurance via Leading carriers. One of the highest disclosed insurance amounts among exchanges.

Coinbase offers Crypto insurance for hot wallet portion. FDIC on USD (up to $250K). via Crime insurance policy. Publicly traded company. FDIC insurance on cash. Crypto hot wallet insured.

Regulatory (9.0 vs 9.5)

Gemini holds NY Trust Company (NYDFS), SOC 2 Type 2, Multiple state licenses and is a qualified custodian operating in United States. NY Trust Company charter — highest US regulatory standard for crypto.

Coinbase holds NASDAQ listed (COIN), FinCEN MSB, NY BitLicense, State licenses, Multiple international licenses and is a qualified custodian operating in United States / Global. Most regulated US exchange. Publicly traded. Custodian for multiple Bitcoin ETFs.

Fee Transparency (7.0 vs 6.0)

Gemini charges None in annual custody fees with 0.2-0.4% maker/taker (ActiveTrader) per transaction. 10 free crypto withdrawals per month. ActiveTrader has competitive fees.

Coinbase charges None in annual custody fees with ~1.5% (Simple) / 0.05-0.6% (Advanced) per transaction. Simple interface has higher fees. Advanced trading has competitive fees.

Track Record (7.5 vs 8.5)

Gemini was founded in 2014 and is headquartered in New York, NY. AUM: $30B+ in assets. Incident history: Gemini Earn issues (Genesis lending). Exchange itself unbreached..

Coinbase was founded in 2012 and is headquartered in San Francisco, CA. AUM: $130B+ assets on platform. Incident history: 2021 account takeover attacks (phishing, not platform breach).

Withdrawal Flexibility (8.5 vs 8.0)

Gemini withdrawal fees: Free withdrawals (10/month). Minimum account: $1 minimum. Supported assets: Bitcoin, Ethereum, 100+ cryptocurrencies.

Coinbase withdrawal fees: Network fees. Minimum account: No minimum ($1). Supported assets: Bitcoin, Ethereum, 250+ cryptocurrencies.

Reporting & Audit (9.0 vs 9.0)

Gemini: SOC compliance is SOC 2 Type 2. As a qualified custodian, it meets SEC reporting requirements.

Coinbase: SOC compliance is SOC 2 Type 2. As a qualified custodian, it meets SEC reporting requirements.

Counterparty Diversification (2.0 vs 2.0)

Gemini is a exchange custody provider. Key management: Exchange-managed custody with SOC 2 Type 2 certified infrastructure..

Coinbase is a exchange custody provider. Key management: Exchange-managed custody with institutional-grade cold storage infrastructure..

Fees

Fee Comparison

Side-by-side fee breakdown for Gemini and Coinbase.

Fee Type	Gemini	Coinbase
Setup Fee	Free	Free
Annual Custody	None	None
Transaction	0.2-0.4% maker/taker (ActiveTrader)	~1.5% (Simple) / 0.05-0.6% (Advanced)
Withdrawal	Free withdrawals (10/month)	Network fees

Gemini: 10 free crypto withdrawals per month. ActiveTrader has competitive fees.

Coinbase: Simple interface has higher fees. Advanced trading has competitive fees.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Gemini	Coinbase
$200M+ insurance	✓	✗
10 free withdrawals/month	✓	✗
98%+ cold storage	✗	✓
ActiveTrader low fees	✓	✗
Beginner-friendly interface	✗	✓
Coinbase Vault for extra security	✗	✓
ETF custodian (BlackRock IBIT)	✗	✓
FDIC on USD	✗	✓
Gemini Dollar (GUSD)	✓	✗
NY Trust Company charter	✓	✗
Publicly traded (NASDAQ)	✗	✓
SOC 2 Type 2 certified	✓	✗

Recommendation

Who Should Choose Which?

Gemini is better if you…

✓Are a compliance-focused users
✓Are a ny-based investors
✓Are a security-conscious traders
✓Are a stablecoin users
✓Want: NY Trust Company — highest regulatory standard
✓Want: SOC 2 Type 2 certified
✓Want: $200M+ disclosed insurance

Coinbase is better if you…

✓Are a beginners
✓Are a us-based investors
✓Are a passive holders
✓Are a mainstream adopters
✓Want: Publicly traded — maximum transparency
✓Want: Custodian for BlackRock and other ETFs
✓Want: 98%+ cold storage

FAQ

Frequently Asked Questions

Is Gemini or Coinbase better for Bitcoin custody?

Gemini scores 7.9 vs 7.8 in our weighted Custody Score. Gemini leads in 4 of 8 scoring categories. However, the best choice depends on your specific needs: Gemini is best for Compliance-focused users and NY-based investors, while Coinbase suits Beginners and US-based investors.

What is the difference between Gemini and Coinbase?

Gemini is a exchange custody provider, while Coinbase is a exchange custody provider. Gemini excels in Regulatory, whereas Coinbase is strongest in Regulatory.

How do Gemini and Coinbase fees compare?

Gemini charges None annual custody fees with 0.2-0.4% maker/taker (ActiveTrader) transaction fees. Coinbase charges None annual custody fees with ~1.5% (Simple) / 0.05-0.6% (Advanced) transaction fees.

Which is more secure, Gemini or Coinbase?

Gemini scores 8.5/10 for security while Coinbase scores 8.0/10. Gemini uses Institutional hot/cold custody key management, and Coinbase uses Institutional cold storage system.