FTX and FTX US has filed for Chapter 11 bankruptcy. We strongly advise against making any deposits. The FTX platform has been hacked. A warning has ben issued that the website, platform and app might be infected by trojan malware. We recommend that you refrain from using them.
FTX is a cryptocurrency exchange that offered a vast array of derivatives products and digital tokens. However, the company collapsed and filed for bankruptcy on November 11, 2022 after a wave of withdrawals revealed that the firm has mismanaged client funds and did not have sufficient liquidity.
Gemini is a cryptocurrency exchange set up in 2014 by the Winklevoss brothers, known for their early involvement in Facebook. The exchange is among the world’s 20 largest and continues to provide a secure and reliable trading environment by actively seeking regulatory oversight and complying with the latest industry requirements. Gemini traders can trade and stake 80+ cryptocurrencies, with derivatives trading available in some jurisdictions, an advanced proprietary platform, ActiveTrader, and additional features including an NFT marketplace.
Comment by Reviewer
"We don't recommend FTX to crypto investors. The disgraced cryptocurrency exchange failed its customers and its CEO, Sam Bankman Fried, has been arrested."
"Gemini’s ActiveTrader platform, transparency and attention to regulatory requirements make it a good choice for serious crypto traders seeking a reliable platform to trade crypto derivatives, though we were disappointed by some unnecessary fees and past financial problems."
Lower fees than most other cryptocurrency exchanges, thanks to its tiered system
An official mobile app is available on both Android and iOS
Built-in automated trading through Quant Zone
Ability to stake in the exchange using FTT
High security with 2FA a requirement for all crypto investors
The app has a high-end design and intuitive interface
There is a decent range of education, guides and tutorials suitable for beginners
Gemini has won various awards in recent years, including the 2019 Markets Choice Awards: Best Cryptocurrency Exchange
TradingView integration opens up some great features for Gemini traders
Crypto perpetual futures are available in many jurisdictions with up to 1:100 leverage
The exchange has made great efforts to prove their credentials via audits, transparently publishing financial data and obtaining licenses
Major safety and security concerns - you should not deposit with this firm
Limited options for currency withdrawals compared to other exchanges
Country restrictions apply to US citizens
No demo account available
High fees for some funding methods including a 3.49% fee for card transactions
History of concerning incidents including the collapse of its Earn program and a phishing breach
'Convenience fee' for using mobile app seems arbitrary and makes it inefficient to use this feature
Some larger coins by market cap are not available to buy through Gemini
There is no practise profile or demo account for prospective traders
Best Cryptocurrency Exchange 2019 - Markets Choice Awards
FTX supports crypto trading on hundreds of major tokens by way of spot trades and derivatives contracts. This includes access to popular cryptos like Bitcoin, Ethereum and Litecoin.
Gemini offers 90+ cryptocurrencies on its exchange, which is anchored by the native Gemini Dollar stablecoin. The powerful ActiveTrader platform is optimized for online trading, and the broker offer perpetual swap derivatives.