The third factor under examination is their wallets. A cryptocurrency wallet is a digital wallet where you store digital currency. It will store the public and private keys used for receiving and sending funds, expediting the process, and significantly improving security.
The Binance cryptocurrency wallet, or Binance exchange wallet, has a desktop, mobile, and web version. Their wallet is available for Mac, Windows, and Linux, and they also offer a Google Chrome extension to simplify the process of logging on.
The Binance wallet is a little different from most other cryptocurrency wallets. It supports multiple cryptocurrencies, so it's not a single-coin wallet. It also doesn't store your private key, which can be a big deal if you're not a cryptocurrency expert. Instead, you have to enter your private key information manually. You can also access your account on the Binance cryptocurrency exchange from the Binance wallet.
The Gemini cryptocurrency wallet, on the other hand, is single-coin. At the time of this writing, it only supports BTC. Despite this, it is still very popular. It has several benefits, including an impressive 2-factor authentication system, simple UI, and low prices, making it convenient and worthwhile for most people.
When using the Gemini wallet, there are no transaction fees, no deposit fees, and no withdrawal fees. Navigating their platform is commonly described as 'smooth' and user-friendly.
At this time, the Gemini cryptocurrency wallet does not support trading. Another potential downside of the Gemini wallet is that it is not as private as other wallets. The Gemini wallet allows Gemini to see your IP address, your user agent, and your location at all times, which can be off-putting from a security perspective (though they are, of course, committed to your privacy).