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To offer the data of KuCoin vs Gemini comparison as precisely as possible, we have divided this article into various parameters that will help you evaluate which is the best exchange for you to invest your crypto at this time.
Value for money is among the most crucial dimensions that should be considered while doing this comparison as it portrays whether the brand provides acceptable qualities when compared to its price. So without wasting any time let us start with the comparison.
KuCoin vs Gemini: An Overview
KuCoin is a digital currency exchange that offers a wide variety of crypto to its users. Just like other exchanges, this exchange has been designed to enable its users to purchase, sell, and also safely hold a variety of digital currencies either by employing their online platform or through their mobile application. Even though the user can register an account by just an email address or even with a phone number, if they go through the process of verification, they can also enjoy the access to the advanced features along with decreased fees and chances to earn rewards.
On the other hand, as any astrology buff will know, Gemini portrays twins and shows duality. Apart from the obvious mention of the Winklevoss twins, the name Gemini is a mention to the Gemini space schedule. The channel is designed as a marriage of new-age digital currencies and existing traditional currencies. Bitcoins and U.S. dollars are traded on this platform. Similar to any currency exchange, the users from Gemini exchange can trade digital currency pairs in nearly 20 combinations. Most of these combinations have bitcoin (BTC), the U.S. dollar (USD), or ether (ETH). So, for instance, the currency pair shown as ZEC/USD is any exchange of zcash for U.S. dollars.
Now that you have some idea about both the exchanges it will be easy for you to evaluate in the comparison of KuCoin vs Gemini. So let us start with the parameters.
KuCoin And Gemini: Trading Fees
In the case of Gemini, when any user joins a new cryptocurrency exchange, they should always begin with Tier 0 or Level 0 of the trading fees. These are the highest fees that can be imposed on the mentioned platform. The Gemini fees are:
- 0.1% for makers
- 0.35% for takers
The KuCoin fee system is similar to that of Gemini, with a few significant differences:
- Maker fee 0.1%
- Taker fee 0.1%
- 30-day trading volume is calculated in Bitcoin, and not in USD
- A 20% discount is offered when the fees are paid in KCS (KuCoin Shares), which is the native token of the platform.
- Refunds (rather than fees) are provided to ultra-high volume clients in the form of an incentive to offer liquidity to the channel.
KuCoin And Gemini: Opening An Account
KuCoin is among the best crypto exchanges as it offers KYC-free trading, which implies that the user is not required to prove their identity to become a user. Let’s start:
- Go to their official website and get started from there.
- Offer an email address and also a password
- Go to the parallel email inbox and select the activation link
- Set up 2FA (Two Factor Authentication) through Google Authenticator on your computer or smartphone
- Congratulations, your account is complete! The user can trade KYC-free with some restrictions, however…
- If the user wishes to lift all restrictions, they will require to find the ‘Individual Verification’ preference in their dashboard
- Offer your original name and also the real residential information
- Scan of an ID document or upload a photo, with passports being preferred
- Wait for verification to start trading limit-free
In the case of Gemini new users can sign up by abiding by these steps:
- Go to their official website and get started from there.
- Offer an email address and also a password
- Go to the parallel email inbox and copy the verification link that has been sent to you.
- Paste that verification back in the signup form on the official website
- Offer your location access and a phone number
- You will receive an SMS verification code, copy that into the website
- Next, you will have to work with the banking connection. Gemini promotes users to shape this connection as an identity proof and to speed up any deposits on fiat currency in future
- Identity checks, which is known as KYC, are necessary and will need an identity document (passport, driving license) and an address proof (bank statement, utility bill)
- 2FA (Two Factor Authentication) is also important and will be set up next
- Once done, your Gemini account will shortly be verified and you can make fiat currency deposits or buy digital assets.
KuCoin vs Gemini: User Experience
Let us begin with the Gemini crypto exchange. There are some digital currency exchanges that are created with keeping beginners in mind, while some are focused on day traders. Luckily, Gemini offers great hospitality to both types of users. First of all, there is the ‘Streamlined TradingView,’ so easy that anybody can use this option. In Kraken vs Gemini, Kraken has a wide range of altcoins compared to Gemini.
Now coming to KuCoin, the users are amazed at KuCoin, as it offers a very modernist feel that goes well with the disruptive and innovative nature of the digital currency. Some channels are a bit barren, but this is esthetically pleasing, both as a mobile app and web service. Also, it is not a case of style above substance as it is easy to use, and is also a solid choice for beginners, and is user-friendly completely.
KuCoin vs Gemini: Deposit Method
This is the last parameter in our comparison on KuCoin vs Gemini. In the case of KuCoin, not every digital currency exchange around the globe shows the much-loved deposit operations, and KuCoin is a shining example. To have more freedom to steer along with their trading products, they have to ignore the integration of fiat currency and fiat wallets in general. The user can, of course, deposit any compatible digital currency. Deposits here are free, and withdrawal fees are dependent on the digital currency being removed. In KuCoin vs Kraken, Kraken would be leading when it comes to depositing.
Now coming to the deposit method of Gemini. Evaluating a method to deposit fiat currencies into Gemini compared to KuCoin is much easier. The user can access their fiat wallet and select the method for them:
- ACH deposit – free to deposit & $100,000 daily withdrawal limit
- Wire Transfer – not free to deposit
- Wire fees are changeable, but there is no maximum withdrawal limit, so the withdrawal and deposit fees will vary on the wire company.
Verdict
After this in depth KuCoin vs Gemini comparison, it is now time for the verdict. We have seen even though both the exchanges are best in their own ways but there is one winner. It’s Gemini. Things began well for KuCoin, but Gemini ended up storming it in the end, winning most parameters and eventually dominating. Both can be used, but still, if you have chosen among both these, we would recommend you to choose Gemini. And if you are planning for a transfer from Gemini to KuCoin, we would suggest not to do so. You will get more details on KuCoin vs Gemini Reddit.
Frequently Asked Questions On KuCoin vs Gemini
1. Is KuCoin better than Gemini?
In the above KuCoin vs Gemini, things began well for KuCoin, but Gemini ended up storming it in the end, winning most parameters and eventually dominating.
2. Is KuCoin a safe exchange?
KuCoin is among the best crypto exchanges as it offers KYC-free trading, which implies that the user is not required to prove their identity to become a user. But to avail of their advanced features, KYC is needed. So yes, it is a safe exchange.
3. Is Gemini or Coinbase better?
When it is about Gemini vs Coinbase, Coinbase is better as it is ideal for beginners. Even though the fees at Coinbase are a bit high, it is still among the best crypto exchanges in the market.
