Gemini vs. eToro

Want to jump straight to the answer? Gemini is better for extra features, and eToro is better for beginners.

eToro and Gemini are two of the largest and most popular cryptocurrency exchanges in the market. Both platforms offer a wide variety of tokens and services to their users, catering to traders of all levels of experience. Gemini is known for its user-friendly interface, making it a great option for beginners and advanced users alike. It offers an ActiveTrader feature for more advanced users with advanced trading tools. eToro offers unique features like CopyTrader and risk-free trading practice, making it easier for beginners to learn from experts and practice trading before using real money.

Both platforms have their own unique features and benefits, so let's take a closer look at what sets them apart in this Gemini vs eToro comparison guide.

eToro vs. Gemini: At a Glance

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Gemini vs. eToro: Crypto Exchange Features

Every crypto exchange is slightly different. It is important to understand these differences in features when deciding which exchange to use. 

Features on Gemini

• Hot wallets: Gemini offers a unique hot wallet feature that allows users to store crypto with an internet connection. These cryptocurrency wallets are insured in the event of a hack. A majority of the holdings in these wallets are also stored in cold storage to further the safety of the wallets and help prevent hacks.
• ActiveTrader: Gemini’s ActiveTrader is a powerful tool that can be beneficial for advanced users. The feature offers in-depth charts and analysis of cryptocurrencies as well as multiple order types. These tools can allow crypto traders to make more informed trades. 
• Gemini Earn: Gemini allows users to earn interest on crypto positions. It offers offers interest on coins such as Polygon (MATIC), Ether (ETH), Litecoin (LTC) and Bitcoin (BTC) as well as stablecoins such as Gemini Dollar (GUSD). 

Features on eToro

• CopyTrader: eToro is known to provide a social aspect to crypto, and CopyTrader certainly accomplishes this. The feature allows traders to follow more advanced traders and directly copy their trades. Traders who give out trading advice earn commission from eToro. This service is great for those looking to learn more about crypto trading.
• Trading Practice: eToro offers risk-free trading practice. It offers a free paper trading account so beginning traders can learn about crypto without risking their own money. This feature is a powerful learning tool, and eToro is one of the only exchanges that currently offers it.

Gemini vs. eToro: Fees

Gemini's fees on its regular exchange and mobile platforms are higher compared to some competitors. Fees vary based on the amount of crypto purchased or sold. Fees for web orders start at $0.99 per trade and can go up to 1.49% of the of the total purchase. A convenience fee of 0.50% is added to the market price on top of all transactions.

eToro applies a 1% flat fee on all transactions, which is added to the market price of the asset. This fee remains consistent regardless of the order size. There are no options available to reduce the fees charged. There is a 2% fee will be charged when transferring your cryptoassets to your eToro Money cryptocurrency wallet.

Gemini vs. eToro: Security Features

Gemini uses cold storage for its hot wallet feature. Funds are stored away from the exchange but can still be accessed when needed. Gemini also undergoes regular audits to ensure the safety of its clients’ funds. 

eToro offers 2-factor authentication to access accounts, though it is not automatically enabled. Users must turn the option on manually. It also uses a standard SSL encryption to protect data. To protect funds, eToro stores money in Tier 1 banks.

Gemini vs. eToro: Supported Cryptocurrencies

Both Gemini and eToro offers a wide range of cryptocurrencies. This can be a major selling point for exchanges as it allows investors to diversify their portfolios, as well as gives them opportunities for speculative trades.

As of right now, eToro and Gemini share the following cryptocurrencies:

• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• Ethereum (ETH)
• Litecoin (LTC)
• Dogecoin (DOGE)
• Decentraland (MANA)
• Aave (AAVE)
• Basic Attention Token (BAT)
• Chainlink (LINK)
• Compound (COMP)
• Polygon (MATIC)
• Uniswap (UNI)
• Tezos (XTZ)
• ZCASH (ZEC)
• Yearn.Finance (YFI)
• and more

In the US, there are a total of 21 cryptocurrencies available for purchase on the eToro investment platform. Gemini supports over 70 tokens for trading. However, availability may be limited based on your country of residence due to local regulatory requirements.

Gemini vs. eToro: Mobile App

The Gemini mobile app provides a user-friendly experience for trading cryptocurrencies on both Android and iOS devices. It offers features like real-time market data, price alerts, automated investments and advanced trading tools with strong security measures.

The eToro mobile app is similar to the desktop version but has limitations, such as lacking advanced features and supporting fewer cryptocurrencies. However, it has a user-friendly interface, a diverse range of assets and social and copy trading features, making it useful for managing portfolios on the go.

Gemini vs. eToro: Customer Support

Gemini offers a help center with answers to FAQs, a virtual chatbot for instant assistance and support ticket submission for human help. However, it does not provide phone support for individual users.

eToro offers customer service through email, live chat, and support tickets. WhatsApp and phone support are for eToro Club members with $5,000 or more equity. Some users have had issues with slow responses and withdrawal delays.

So, Gemini or eToro?

Gemini and eToro are both great crypto trading platforms. eToro can be better suited for beginner investors as it has fewer tokens and features such as CopyTrader and paper trading. Gemini can be beneficial for advanced traders as it offers more tokens and features such as hot wallets and ActiveTrader. For experienced and beginner investors, both exchanges are great ways to invest in crypto.