Bitstamp vs Gemini | Best Exchange For Beginners Today?
Jack Moreau
Apr 2024
9 min read
Fact checked
Trying to choose between Bitstamp and Gemini? Look no further! Our comprehensive comparison delves into key factors such as account setup, verification requirements, country availability, trading fees, currencies supported and user experience. Keep reading and make an informed decision on which exchange is best for you!
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Bitstamp and Gemini are two well-established cryptocurrency exchanges with distinct features and offerings.
Bitstamp was founded in 2011 in Slovenia and is one of the oldest continuously-operating cryptocurrency exchanges. The platform is available in over 100 countries with a focus on the European market.
Bitstamp exchange
Bitstamp has a long-standing reputation and a mature approach to the industry, offering a secure and transparent platform to over four million customers. Bitstamp supports over 80 cryptocurrencies, including BTC, ETH, LTC, XRP, USDT, and USDC. Bitstamp is also available on Android and IOS for those that prefer trading using their phones.
Bitstamp app
Gemini is a US-based exchange founded in 2014 by the famous Winklevoss twins. Gemini is known for its strong emphasis on security, regulatory compliance and beginner friendly user experience. Similar to Bitstamp, Gemini offers a small number of products and services including spot trading, recurring buys, staking, and Gemini Earn, a program that allows users to earn interest on their crypto holdings.
Gemini exchange
Gemini is estimated to have between five and ten million registered users, mainly based across North America and Europe. The platform offers a limited range of 50 mostly large-cap cryptocurrencies with a few altcoins as well. Gemini is also available to download via IOS and Android.
Gemini app
Bitstamp vs Gemini Signup & KYC
If you're looking to get started buying and trading cryptocurrencies, you'll quickly realize that an important factor that distinguishes them is whether they require KYC or not. Let's see what the signup process and KYC requirements are of Bitstamp and Gemin.
Bitstamp requires all of their users to pass KYC before using their services. Fortunately, the signup process is quick and easy and users just need to provide their full name, email, date of birth, and country of residence. Once you've signed up, you can start the KYC verification process. It typically takes a few minutes to submit the required documents and users can expect to be verified within a day or two.
Bitstamp signup
Gemini also requires KYC for all of their users. To get started, users will need to enter their full name, password and country of residence. Once signed up, to access the features of the exchange, users will need to upload an ID and some additional information to complete the verification process. This can take a few days to complete, but once you're verified, you'll have full trading and transfer capabilities.
For those that are less excited about the prospects of going through a KYC process, we recommend to exchanges that don't require it for trading, OKX and Phemex.
Bitstamp vs Gemini Products & Services
When it comes to cryptocurrency exchanges, Bitstamp and Gemini are two popular options for new and less experienced crypto investors.
Bitstamp provides spot trading for over 80 cryptocurrencies including popular ones like Bitcoin and Ethereum. In addition to trading, Bitstamp offers staking and lending services for select coins, as well as professional trading tools and APIs for more experienced users.
Bitstamp supported cryptocurrencies
The platform's user-friendly interface makes it easy to buy and sell crypto either through the exchange or via the app. Bitstamp's average daily spot trading volume is around $100-200 million which is pretty decent considering it's a smaller exchange. The main advantage of Bitstamp is that it's an easy to use exchange which can be easier to use for total beginners.
Staking on Bitstamp
Gemini on the other hand offers spot trading for a more limited selection of 50 cryptocurrencies. These are mainly large cap cryptocurrencies such as Bitcoin and Ethereum and other well known cryptos such as Cosmos, Solana, Cardano, Polkadot and others.
Gemini cryptocurrencies
The platform also features a secure wallet for storing and managing digital assets, as well as custody services for institutional clients. Gemini's standout product is its Gemini Dollar stablecoin, which is pegged to the US dollar and provides a stable option for trading and investing. The exchange also offers an over-the-counter (OTC) desk for large volume trades.
Gemini interface
Although Gemini's product offerings are more limited, the platform provides a great user experience for beginners with its easy-to-navigate interface. The average daily spot trading volume on Gemini is quite low compared to the big exchanges and tends to hover around $25-50 million.
When it comes to trading fees, let's see if Bitstamp or Gemini offer the more competitive trading fees.
Bitstamp charges a spot maker fee of 0.30% and a spot taker fee of 0.40%. There are also trading fee rebates available for those whose trade volumes exceed $1,000 during a 30-day period.
Bitstamp trading fees
Gemini is in a similar fee category to Bitstamp with a spot maker fee of 0.20% and a spot taker fee of 0.40%. And similar to Bitstamp, Gemini also offers lower trading fees for those whose trading volumes exceed $10,000 per month.
Gemini spot fees
Both Bitstamp and Gemini thus offer very similar fee structure that are in-line with other exchanges such as Coinbase. For those that are looking for even lower trading fees, we recommend exchanges such as OKX, Binance and Phemex.
When it comes to depositing funds, Bitstamp and Gemini have different options available to their users.
Bitstamp supports fiat deposits for USD, EUR and GBP via wire, ACH, SEPA, Faster Payments (FSP) and debit/credit card. For those who prefer credit or debit card payments, Bitstamp also allows deposits via these methods. However, instant purchases come with a 4-5% fee and wire transfers have a minimum $7.5 fee.
On Gemini, the available options include crypto deposits, bank transfers (ACH/Wire), debit card transfers and PayPal. The supported fiat currencies on Gemini are like Bitstamp, USD, EUR and GBP. While fiat deposits via bank transfer are free of charge, debit card transfers incur a fee of 3.49% and PayPal deposits incur a 2.5% fee.
Overall, both Bitstamp and Gemini offer a solid range of fiat currencies and deposit methods that are suitable for North American and European users.
Let's continue by comparing Bitstamp and Gemini's withdrawal methods.
First up, let's talk about Bitstamp. This exchange offers fiat withdrawals via Wire, ACH, SEPA, and FSP. Wire withdrawals come with a hefty $25 fee while SEPA withdrawals cost 3 EUR and FSP withdrawals cost 2 GBP. However, ACH withdrawals are completely free of charge.
Withdrawal fees for cryptocurrencies are a mixed bag on Bitstamp. There is a decent 0.0005 BTC fee for Bitcoin and 0.0006 ETH fee for Ethereum, but a higher 0.01 SOL fee for Solana and a very high of 20 USDT fee for Tether.
Next, let's move on to Gemini. This exchange also offers fiat withdrawals via Bank Transfer (ACH/Wire Transfer) for USD, EUR, and GBP. The good news is that withdrawal fees for fiat are completely free of charge. Cryptocurrency withdrawal fees are also quite reasonable, with a 0.0001 BTC fee for Bitcoin, free ETH withdrawals, a 0.005 SOL fee for Solana, and a $3 fee when withdrawing USDT.
Bitstamp and Gemini are both well-established cryptocurrency exchanges with their own strengths and offerings. Bitstamp, the oldest continuously-operating cryptocurrency exchange supports 80 cryptocurrencies compared to the small range of 50 coins offered by Gemini.
In terms of trading fees, the two exchanges are evenly matched. Bitstamp charges a spot maker fee of 0.30% and a spot taker fee of 0.40%, while Gemini charges a spot maker fee of 0.20% and a spot taker fee of 0.40%.
Both exchanges have tailored their offerings to beginners with easy to use interface and simple products such as buy and sell and staking. For those that want to deposit fiat currencies, both Bitstamp and Gemini offer solid options at low fees.
Bitstamp supports a wider range of deposit options which includes wire transfer, ACH, SEPA, Faster Payments and debit/credit card, while Gemini offers fiat deposits via bank transfer (ACH/Wire), debit card transfer, and PayPal for USD, EUR, and GBP. Withdrawal fees for fiat are completely free of charge for Gemini, while Bitstamp charges withdrawal fees for all its withdrawal options.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
