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 most popular. Gemini clients can trade and stake 110+ cryptocurrencies, with derivatives trading available in some jurisdictions, an advanced proprietary platform and additional features including an NFT marketplace.
Nexo is a centralized crypto exchange founded in 2018 in Bulgaria and today operates across some 200 jurisdictions from its base in Switzerland. It provides services including spot trading, futures trading, peer-to-peer loans, cold wallet storage and fiat-on ramps to buy crypto tokens. The crypto firm is registered with some respected financial authorities, such as the ASIC, and offers some fairly unique additional services including a credit card.
Bonus Offer
Loyalty scheme with various bonuses, plus referral program and bonus paid to lenders on credit line
Comment by Reviewer
"Gemini’s ActiveTrader platform and TradingView integration make it a good choice for serious crypto traders seeking a reliable charting environment, though we were disappointed by some unnecessary fees and previous security breaches."
"Nexo gives crypto traders the capability to trade, invest, lend and borrow digital assets in one place, and it’s especially good for its credit functions that pay out very high yields to lenders. However, its fees are relatively high and many day traders will prefer a more tightly regulated crypto broker."
Pros
The trading app features a user-friendly, modern design and intuitive interface, with an excellent range of charting tools for day traders
The TradingView integration delivers top-quality tools, including backtesting and algo trading capabilities
The exchange ensures high security standards with 2FA a requirement for all crypto investors
Crypto perpetual futures are available in many jurisdictions with up to 1:100 leverage
There is a decent range of educational guides and tutorials suitable for beginners
Reputable crypto exchange that has been in business since 2018 and has taken some steps toward regulation
Nexo Pro is a user-friendly proprietary platform that suits day trading strategies with great charting features
Value-add tools integrated into the trading platform including social media analysis and newsfeeds by asset
Traders can access perpetual futures to open long or short positions on crypto assets, increasing strategic opportunities
Nexo’s crypto staking and credit features support crypto lending and borrowing, and the yields lenders receive are among the best going
Traders benefit from bonuses and incentives including free trading funds paid to lenders and cashback in the form of the exchange’s native Nexo token
Cons
The exchange has a history of concerning incidents including the collapse of its Earn program and a phishing breach
The 'convenience fee' for using the mobile app seems arbitrary and makes it inefficient to use this feature
There are high fees for some funding methods including a 3.49% fee for card transactions
Some larger coins by market cap are not available to buy through Gemini
There is no practice profile or demo account for prospective traders
Although Nexo has registered with some reputable watchdogs, it is riskier to trade with than established crypto brokers like AvaTrade and Vantage
High deposit and withdrawal fees for cards and e-wallets will price many traders out of the most convenient payment methods
Very few educational resources are available, reducing its appeal to beginners who can find more helpful resources at category leaders like eToro
High maker/taker fees mean day traders will pay more to trade derivatives than they would at rival exchanges like Binance
The range of tokens is extensive compared to most crypto brokers but still much smaller than similar crypto exchanges like Kraken
Awards
Best Cryptocurrency Exchange 2019 - Markets Choice Awards
Best Crypto Exchange Overall 2022 - The Ascent
Best Cryptocurrency Wallet – FinTech Breakthrough Awards, 2023
Best Use of Crypto and/or Blockchain in Financial Services – PAY360 Awards, 2022
Gemini offers a relatively small range of 110+ cryptocurrencies on its exchange, which is anchored by the native Gemini Dollar stablecoin, as well as perpetual swap derivatives. The powerful ActiveTrader platform is optimized for online trading, delivering a wide range of technical indicators and up to 7 time frames.
Nexo offers trading on an impressive suite of around 70 tokens, including Bitcoin. Digital assets can be bought, sold and swapped directly on the exchange or traded in over 500 pairs. Digital assets can also be used as collateral for fiat loans or used to generate passive income with the ‘smart staking’ tool or from interest earned via peer-to-peer loans.
