Â While they havenât been around as long as Coinbase, theyâve quickly built a great reputation in the community. Both sites offer wire transfers for users looking to deposit larger sums, although you may have to apply or contact them directly. Based on your country, you can send money to a particular Coinbase banking account to boost the limit in your account or link your account directly to the bitcoin trading firm. All you need to start earning is a Bitcoin address for receiving payments. If youâre looking to quickly buy cryptocurrency or you want to use a credit card, Coinbase is the option for you. To help illustrate these advantages, weâll show you the steps for buying cryptocurrency on Coinbase, then show you the steps for buying cryptocurrency at traditional exchanges. Â They work similarly to a forex or stock exchange. © 2018 Yacko, LLC While both of these sites can be used to buy cryptocurrencies, they work differently. Safety of Funds Both sites segregate customer funds from company operational funds. Â However, you wonât be able to withdraw your cryptocurrency before your deposit is fully processed. Â You can think of Coinbase as a âcryptocurrency retail storeâ. Available Cryptocurrencies Gemini only supports trading for Bitcoin and Ethereum. You can step up the bitcoin purchase limit of your account by providing identity verification, debit card verification, and credit card verification information to Coinbase.
If youâre looking to immediately lock in a price for more than $500, Coinbase will most likely provide you more limits. Gemini also handles their customer support through email. Â They have also received investments from Alexis Ohanian (Reddit Co-Founder), Blockchain Capital, Bank of Tokyo, and various other trusted investors.Aeternity.. Customer Support While customer support is an issue plaguing many cryptocurrency companies, Coinbase and Gemini both do a pretty good job in this department. We don t collect any of your personal information—not even your email address. Buying Cryptocurrencies with a Credit Card on Coinbase Create and verify your account. Gemini has predefined purchasing limits for bank transfers, of $500 per day. Â In other words, you can begin trading before your deposit is fully processed. Â The majority of reports from online forums echo this, although 24-72 hours may be a more accurate time frame. Â Your personal limits will be shown on your accountâs verification page. The highest limit for buying bitcoins these days for American clients that are completely verified is $50k a day, which also depends on the payment method you select for the purchase. As gritty as it sounds, bitcoin trading is really as simple as getting a loan from the bank, however, you need to know the basics and fulfill certain essential criteria. .