> Blog > FTX Fees vs Gemini

Published June 27, 2022

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If you’re interested in buying and trading cryptocurrencies, you need to find an exchange that will best accommodate your needs. Not all exchanges are created equally, so it’s important to factor in things like fees, available assets and notoriety before committing your funds to a particular platform.

In this article, we’ll take a look at two popular exchanges, FTX and Gemini, and compare the pros, cons, and fee structures of each exchange. When you compare FTX’s fees against Gemini, you’ll see a considerable difference as FTX offers starting maker fees at 0.02% compared to 0.20% from Gemini, that’s 10X more!

Gemini Overview

Gemini is a US-based cryptocurrency exchange founded in 2014 by Cameron and Tyler Winklevoss. Gemini is one of the longest-running regulated exchanges in the cryptocurrency space and offers both individual and institutional investors a platform to buy, sell, and store digital assets. 

Gemini gained notoriety early on by focusing on security. It was one of the first exchanges to offer insurance for digital assets stored on the platform, and was one of the first exchanges to achieve SOC II Type I compliance. Gemini maintains its reputation for security and compliance by enforcing strict Know Your Customer and Anti-Money Laundering procedures on the platform. 

What are the Pros of Trading on Gemini?

Gemini offers great benefits like:

  • Security: Gemini is one of the most secure exchanges in the space.
  • Mobile-friendly: The platform offers an intuitive, easy-to-use mobile app.
  • Accessibility: Gemini’s full features are available in all 50 U.S. states.

What are the Cons of Trading on Gemini?

Gemini’s reputation for security, privacy and ease-of-use make it one of the top exchanges in the US, but this comes at a premium. The platform sports some of the most expensive fees among other leaders in the class. This may be off-putting for new investors and those wanting to test the market. 

What Tokens are Available on Gemini?

Gemini offers its users a decent selection of digital assets, including:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Zcash (ZEC)
  • Litecoin (LTC)
  • Gemini Dollar (GUSD) 

What are the Fees on Gemini?

Gemini offers two different fee schedules depending on whether you’re a “maker” or a “taker.” Makers are those who add liquidity to the order book by placing limit orders above or below the market price, and ‘takers’ are those who remove liquidity from the book by buying or selling assets at the current market price. 

Here’s a breakdown of Gemini’s maker and taker fees: 

FTX Overview

FTX is a cryptocurrency derivatives exchange founded in 2019 by veterans of the traditional finance and big tech industries. The founders set out to create an exchange that combines advanced products and features with an intuitive, easy-to-use interface, and boasts a diverse user-base from first-time traders to institutional investors. 

The platform offers unique products including cryptocurrency derivatives, leveraged tokens, and tokenized stock trading. 

What are the Pros of Trading on FTX?

FTX stands out amongst exchanges with many unique features:

  • User-friendly interface
  • Innovative derivatives products
  • Industry-leading fee schedule
  • Backstop Liquidity Program to prevent clawbacks during large market swings
  • 1% of net fees on FTX are donated to the world’s most effective charities. 
  • The founder, Sam Bankman-Fried has signed a pledge to give away most of his wealth built from FTX to philanthropy.
  • One of the most regulated and licensed crypto exchanges in the world. 

What are the Cons of Trading on FTX?

While ftx.com has many features, there are some restrictions on US-based traders and the ftx.us site, which can cause confusion, as well as disappointment to traders in the United States. Due to US regulations, US traders are barred from buying or holding the platform’s utility token, FTX Token. It’s unclear when FTX will be able to offer its full lineup of services to the US market.

What Tokens are Available on FTX?

FTX supports a wide range of digital assets, including: 

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP) 
  • Bitcoin Cash (BCH) 
  • Litecoin (LTC)
  • FTX Token (FTT)

What are the Fees on FTX?

FTX has some of the lowest fees in the industry. Here’s a breakdown of their fees: 

FTX vs Gemini: At a Glance

Choosing Between FTX or Gemini

As you can see, FTX and Gemini are both popular cryptocurrency exchanges that offer great benefits to their users. Both exchanges offer industry-leading security and a wide array of digital assets to trade. Users who are looking for the lowest-cost entry into the market may choose FTX.

If you’re interested in trading on FTX, create an account and get started today.

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