Nexo vs Gemini Features 

Nexo is a crypto exchange that provides trading options, savings accounts, and access to various interest loans. The platform also offers its own Nexo card, which enables you to earn annual interest amounting to 17%. Moreover, with this card, you will not have to sell your own crypto assets in order to gain access to other fiat currencies.

Since it's a rare platform that utilises its own native token, NEXO, you can acquire the best rates possible if you decide to purchase this token. On top of that, you will also be eligible for increased cashback opportunities on every buy you make.

Nexo has a loyalty program that helps users acquire additional assets and unlock more options as they advance through its levels. As you advance, you get more free withdrawals per month, from 1 for the basic level and up to 5 for the highest level.

There are also crypto backed loans available as a way to add more opportunities for users to earn by enabling up to $2 million for borrowing purposes. These loans aren’t subject to any credit checks and are instantly approved.

Gemini is also a crypto exchange and offers roughly the same tools and features as Nexo does. On this platform, you can buy, sell, or trade crypto, earn interest on your existing assets and have the ability to pay for purchases made in retail stores using crypto from your account at Gemini.

Similarly to Nexo, Gemini has its own dollar (Gemini Dollar or GUSD), which is a United States dollar-backed stablecoin. You can use this currency to make purchases via the Gemini App or stake it in DeFi to trade or earn interest.

Gemini offers up to 10 free withdrawals per month, while all fiat withdrawals are free of charge. The platform has its own app available for Android and iOS users with over 22,000 reviews and more than 1 million downloads.

Nexo vs Gemini Fees

Nexo doesn’t apply any fees on transactions, while Gemini applies between $0.99 and 1.49%. Both platforms have no bank account purchase fees, ACH transfer fees, or Wire Transfer fees.

Nexo offers up to 5 free withdrawals per month, depending on loyalty levels, while Gemini offers up to 10, with all fiat withdrawals being free of charge as well.

Both platforms have certain limits in place, with Nexo employing daily limits of up to $100,000, $500,000, and $2,000,000 on Fiat Savings withdrawals, Savings Account withdrawals, and Loan withdrawals, respectively. Gemini’s limits are affecting bank transfers with $5,000 daily and $30,000 monthly limits, while there’s absolutely no limit on wire transfers.

However, while Nexo doesn’t charge for Debit card purchases, Gemini does so with 3.49% of each purchase. Furthermore, if you wish to convert your crypto on Nexo, you won’t be charged a fee, while Gemini will charge you up to 1.49%.

Having said that, Nexo does charge a 2% origination fee on crypto backed loans, and the platform charges gas fees on crypto withdrawals. Gemini, though, offers 10 free crypto withdrawals per month.

Number of Cryptocurrencies

Nexo offers support for 34 cryptocurrencies in total, including the most popular ones such as Bitcoin, Ethereum, Dogecoin, and USD Coin, among others.

Gemini, though, offers 90+ coins that are available on its platform for users to buy, sell, or trade with. Similarly to Nexo, it also offers the most popular ones with the addition of some lesser known coins for those more experienced traders.

Nexo vs Gemini Security

One of the many things, and possibly the most vital one that both platforms have in common, is security. Namely, Nexo and Gemini pride themselves on being incredibly focused on security and employing advanced features to safeguard users’ data and assets.

Individually, Nexo offers its customers withdrawal confirmation options and login alerts to ensure user’s consent every step of the way. Additionally, two factor authentication (2FA) and a biometric login are in place, with a 4-digit pin number requirement.

Nexo uses Class III vault to store your assets, and the company sits on a $775 million insurance package in the case of a cyberattack and loss of data or assets.

Gemini also offers two factor authentication (2FA) and an option to approve which devices to use when logging in. When creating an account, you’ll have to provide a government ID photo and pass a KYC (know your customer) verification process to reduce any fraud instances on the platform.

Gemini’s commitment to compliance and security standards is bolstered by the fact that the exchange recently became SOC-2 certified. With an FDIC insurance package of $250,000, alongside digital asset insurance, Gemini helps protect its users in the event of hacking or breach.

Verdict - Gemini

Nexo’s exponential growth caught everyone’s eye, and with more than a million users and billions of dollars in assets, it has proven to be a fantastic choice for crypto borrowing, trading, or interest earning. Even though Gemini is two years younger, its growth has likewise proved its merit in being one of the best crypto exchanges today.

Both platforms provide a smooth and clear interface that makes it easy for users to navigate around and use, and they offer similar features for traders to utilise.

Which crypto platform you choose to earn interest on depends on your personal needs. Nexo offers higher rates, but a limited number of coins, whereas Gemini offers 90+ cryptocurrencies, and you can earn interest on more than 40 of them. Another thing to keep in mind is that US residents cannot earn crypto interest on Nexo - if you are from the US, you are better off going with Gemini.

Frequently Asked Questions

Still Researching?

If you are still undecided, you can read my full review on Nexo (here) and Gemini (here) or have a look at my article on the best cryptocurrency savings accounts.