Gemini vs Strike — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Gemini scores 7.9 vs Strike's 5.7. Gemini leads in 5 of 8 categories.

Gemini is better suited for Compliance-focused users, NY-based investors, Security-conscious traders. Strike is better suited for Lightning Network users, Fee-conscious buyers, International remittance users.

7.9

GoodCustody Score

Gemini

5.7

Below AverageCustody Score

Strike

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Gemini	Strike	Winner
Security	20%	8.5	6.5	Gemini
Insurance	15%	7.5	3.0	Gemini
Regulatory	15%	9.0	6.5	Gemini
Fee Transparency	10%	7.0	7.0	Tie
Track Record	15%	7.5	6.0	Gemini
Withdrawal Flexibility	10%	8.5	9.0	Strike
Reporting & Audit	10%	9.0	4.0	Gemini
Counterparty Diversification	5%	2.0	2.0	Tie
Overall Score	100%	7.9	5.7	Gemini

Visual

Score Radar

Visual overlay of Gemini and Strike across all categories.

GeminiStrike

Deep Dive

Category-by-Category Analysis

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

Security (8.5 vs 6.5)

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..

Strike uses Exchange-managed custody key management with Not disclosed in cold storage and regular penetration testing. Compliance: N/A. Incident history: No incidents.

Insurance (7.5 vs 3.0)

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

Strike offers Not publicly disclosed via N/A. Regulated US money transmitter. Custodial for Bitcoin held on platform.

Regulatory (9.0 vs 6.5)

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.

Strike holds FinCEN MSB, State money transmitter licenses and is not a qualified custodian operating in United States. US-regulated. Focus on payments and Lightning Network.

Fee Transparency (7.0 vs 7.0)

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.

Strike charges None in annual custody fees with ~0.0-0.99% (variable spread) per transaction. Among lowest Bitcoin buying fees. Free Lightning withdrawals.

Track Record (7.5 vs 6.0)

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..

Strike was founded in 2020 and is headquartered in Chicago, IL. AUM: Not publicly disclosed. Incident history: No incidents.

Withdrawal Flexibility (8.5 vs 9.0)

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

Strike withdrawal fees: Free via Lightning / Network fees on-chain. Minimum account: No minimum. Supported assets: Bitcoin only.

Reporting & Audit (9.0 vs 4.0)

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

Strike: SOC compliance is N/A. Not classified as a qualified custodian.

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..

Strike is a exchange custody provider. Key management: Bitcoin purchase and Lightning Network payment app..

Fees

Fee Comparison

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

Fee Type	Gemini	Strike
Setup Fee	Free	Free
Annual Custody	None	None
Transaction	0.2-0.4% maker/taker (ActiveTrader)	~0.0-0.99% (variable spread)
Withdrawal	Free withdrawals (10/month)	Free via Lightning / Network fees on-chain

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

Strike: Among lowest Bitcoin buying fees. Free Lightning withdrawals.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Gemini	Strike
$200M+ insurance	✓	✗
10 free withdrawals/month	✓	✗
ActiveTrader low fees	✓	✗
Bitcoin payment rails	✗	✓
Clean mobile app	✗	✓
Gemini Dollar (GUSD)	✓	✗
Instant Bitcoin purchases	✗	✓
International transfers	✗	✓
Lightning Network native	✗	✓
NY Trust Company charter	✓	✗
Near-zero buying fees	✗	✓
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

Strike is better if you…

✓Are a lightning network users
✓Are a fee-conscious buyers
✓Are a international remittance users
✓Are a bitcoin payment users
✓Want: Lowest Bitcoin buying fees
✓Want: Lightning Network integration
✓Want: Instant purchases

FAQ

Frequently Asked Questions

Is Gemini or Strike better for Bitcoin custody?

Gemini scores 7.9 vs 5.7 in our weighted Custody Score. Gemini leads in 5 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 Strike suits Lightning Network users and Fee-conscious buyers.

What is the difference between Gemini and Strike?

Gemini is a exchange custody provider, while Strike is a exchange custody provider. Gemini excels in Regulatory, whereas Strike is strongest in Withdrawal Flexibility.

How do Gemini and Strike fees compare?

Gemini charges None annual custody fees with 0.2-0.4% maker/taker (ActiveTrader) transaction fees. Strike charges None annual custody fees with ~0.0-0.99% (variable spread) transaction fees.

Which is more secure, Gemini or Strike?

Gemini scores 8.5/10 for security while Strike scores 6.5/10. Gemini uses Institutional hot/cold custody key management, and Strike uses Exchange-managed custody.