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Uphold vs Gemini: Find Out Which Broker Is Best For You

Uphold and Gemini are two popular cryptocurrency exchange platforms. Apart from that, what do they do and which one is better? Our article on Uphold vs Gemini contains a detailed review of the two platforms, including the features provided by the two websites, wallet, security, etc.

The advent of cryptocurrencies has revolutionized the global markets. True, most individuals and corporations were skeptical about how long the hype would take before it died down. However, cryptocurrencies have continued to thrive and survive regardless of the financial market's many government regulations and volatility. 

As many customers, institutions, and even governments are embracing digital tokens, the demand for platforms where you can buy and sell your crypto has increased. Not surprisingly, a simple Google search will yield hundreds of search results of likely exchanges where you can sell and buy cryptocurrencies, including Uphold and Gemini.  

We have carried out an in-depth analysis to identify the differences and similarities between the two so that you can decide which is best for you. 

About Uphold 

Uphold is a multi-asset digital money platform that aims to change the way people access money. Established in 2015, the platform offers various financial services to the global market and offers a unique "anything-to-anything" trading experience to its customers. In other words, customers can trade directly between various asset classes. 

Uphold currently serves more than 184 countries in more than 80 currencies, including traditional and crypto and commodities. Since its launch, the multi-asset platform has powered more than $4 billion in transactions. It also supports automated trading, and you can complete transactions with your debit card. 

Main Features 

  • Precious metals: You can use Uphold to buy silver, gold, palladium, platinum, and enjoy instant liquidity into 27 national currencies. The platform is connected to banks in 36 countries and integrated with seven blockchain networks. Therefore, you can buy metals easily. 
  • Cryptocurrencies: Users can choose from 115 digital currencies, including stable coins, major coins, emerging tokens, and alt-coins. 
  • Stocks: The platform allows you to buy US stocks with as little as $1, thanks to its fractional equity services. This, however, is only available for US clients.

For more information, read our complete Uphold review.

About Gemini 

Gemini is a simple and secure platform where you can build your crypto portfolio. You can also use it to buy, sell, and store digital arts like NFT on the blockchain. Gemini is the world's first SOC Type 2 and SOC Type 1 certified crypto exchange and custodian. The platform also offers high-performance tools for active traders. 

Main Features

  • Simplified trading view: Gemini provides a clear and intuitive interface that you can use to access all the tools you need to understand the cryptocurrency market. As a result, you can conveniently manage your holdings, trade assets, and set pending others to buy crypto. The homepage provides a snapshot of your account, and you can manage your portfolio at a glance. 
  • Crypto interest: With Gemini earn, you can put your crypto to work and receive up to 8.05% APY on your cryptocurrency, including stable coins. 

For more information, read our complete Gemini review.

Uphold vs Gemini Fees 

Uphold

Uphold does not charge withdrawal or deposit fees but they charge spread. In Europe and the US, the spread is between 0.8-12% on ETH and BTC. In other parts of the world, the spread of majors is around 1.8%. The spread on precious metals is 3% on top of the bid-ask price, and the spread on fiat currencies is 0.2% between major national currencies. 

Uphold is not a free platform. Therefore, the spread changes every time you trade. Nonetheless, you will always see the price before you trade. The prices are locked in pre-trade, and there is no hidden fee between transaction and preview. 

Uphold does not charge on deposit, withdrawal, and trading commission. However, there are network fees when you withdraw to an external crypto wallet. 

Gemini 

Gemini charges 1.49% for trades over $200 or a fixed fee for trades under $200. They also charge 3.49% on credit or debit card purchases. The maximum transfer amount is $100,000 daily for withdrawals via ACH, $5,000 daily and $30,000 monthly for deposits, and $1,000 daily for debit card purchases. Therefore, Uphold wins the Gemini vs Uphold argument as far as fees are concerned. 

Uphold vs Gemini: Available Coins

Uphold supports 88 cryptocurrencies. The major ones include: 

  • Bitcoin (BTC)
  • Cardano (ADA)
  • Digibyte (DGB)
  • Dogecoin (DOGE)
  • Ethereum (ETH)
  • Polkadot (DOT)
  • Litecoin (LTC)
  • Solana (SOL)
  • Ripple (XRP)
  • Stellar (XLM)
  • Tron (TRX)

On the other hand, Gemini supports 63. The major ones include: 

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Dogecoin (DOGE)
  • Dai (DAI)
  • Ethereum (ETH)
  • Polygon (MATIC)
  • Uniswap (UNI)
  • Litecoin (LTC)
  • Filecoin (FLC)

Wallet 

Gemini vs Uphold wallet, which one is better? Uphold supports digital wallets like XRP, Ethereum, Litecoin, Bitcoin, Bitcoin Cash, Dash, and Bitcoin Gold wallets. On the other hand, Gemini uses a deposit address to store assets in an institutional-grade cold storage system or insured hot wallet. The wallet supports all listed assets, including bitcoin, Ethereum, etc. 

Security

Uphold

Uphold uses various access and encryption security to reduce the depth and scope of potential attacks. It also carries out 3rd party diligence checks to guarantee the integrations incorporating sensitive data. Apart from this, there is a security operations center that monitors the system all year round and responds immediately if there is a threat of attack. 

The platform undergoes mandatory security and background checks by an accredited vendor. Security professionals also conduct routine penetration testing and security audits to guarantee efficiency. If users detect a security vulnerability within the systems, they can report it via a public BugBounty program for a reward. 

Other security measures implemented include: 

  • Identity verification to protect transactions 
  • Strong password requirements, including email verification 
  • 2-factor authentication 
  • Secure HTTPS connections on the browser 

Gemini 

Gemini earned an ISO 27001 certification after completing the SOC 1 Type 2 exam and SOC 2 Type 2 exam. The platform also maintains compliance with PCI DSS to protect credit and debit card data. More importantly, Gemini is subject to the security requirements of global regulators like the FCA, NYDFS, and MAS. 

Other security measures implemented include: 

  • Default 2-factor authentication is necessary to access the account and make withdrawals. 
  • The hardware security modules rely on a FIPS 140-2 level 3 rating or higher. 
  • All HSMs are geographically distributed at secured data centers and require coordinated actions to operate. 
  • Address allow listing helps users restrict crypto withdrawals to allow listed crypto addresses. 
  • You need multiple signatories to transfer crypto out of cold storage and carry out other sensitive functions. 
  • All private keys are stored offsite at high-security data centers, as Gemini offices don't contain any private keys. 
  • Access to production systems requires hardware security keys that are not prone to phishing attacks. 
  • The company CEO and President cannot individually or jointly transfer crypto out of the online hot or offline cold storage. 

Ease of Use

Uphold is very easy to use as you can buy, hold, and sell more cryptocurrencies, traditional currencies, and metals with low spreads. Although Gemini allows the same functions with only crypto, the fee is much more expensive. Apart from this, Uphold is available in more countries, has more coins, and supports more fiat currencies. Therefore, Uphold is easier to use. 

Other Features

Uphold 

The platform has a debit card that you can use anywhere to carry out instant transactions without a foreign transaction fee. You will also earn 2% back in every cryptocurrency used for every crypto purchase through the debit card and 1% back in USD for every USD-sourced transaction.  

You can place up to 50 limit orders and pay only when a transaction goes through. 

Staking rewards are coming to Uphold, but you can join the waitlist to earn up to 19.5% in a year.

Gemini 

Like Uphold, Gemini has a credit card that you can use and earn rewards in bitcoin, ether, or other cryptos. There is no annual fee, and you will earn up to 3% back in reward. 

Gemini Earn pays up to 8.05% APY on your cryptocurrencies, including stable coins. 

Conclusion  

Since Uphold supports more coins, it means the wallet is more versatile than the Gemini wallet. This will help you decide on the Uphold vs Gemini wallet comparison. 

Uphold is versatile and flexible. You can trade more crypto, precious metals, fiat currencies, and US equities. There are no trading commissions, withdrawals, or deposit fees. 

Gemini is easy to use, even for beginners and is focused on security and compliance. It supports major cryptocurrencies and has advanced features like ActiveTrader and Gemini Pay. It is also available in mobile and desktop versions. However, it offers fewer currencies than Uphold, and the fee is higher. It is also sometimes slow to respond to complaints since they will only communicate via email. 

If security is your number 1 concern, choose Gemini. However, you'll pay a higher fee for a moderate selection of coins. However, choose Uphold if you want to trade more cryptocurrencies without paying as much as Gemini. 

If neither of these 2 is a good fit for you, try our crypto broker comparison tool. It will let you identify the right broker for you in a matter of minutes. Try it now!

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