Thread by @austinschless

0/ You want to invest in crypto

@Gemini or @RobinhoodApp?

Here's your answer👇🧵

1/ What's Gemini?

Gemini is an FDIC-protected crypto company.

It's never been hacked, it's easy to use, and it was founded by @tyler and @cameron.

It's also one of the few exchanges regulated in the US

2/ Pros of Gemini?

1. Fast and easy onboarding
2. The most secure/regulated crypto exchange
3. Competitive transaction fees
4. Apps on iOS and Android
5. Customer support via web, app, phone, and Twitter

3/ Cons of Gemini?

1. Higher fees for transactions less than $200
2. Access to Active Trader - Gemini's platform with lower fees - must be approved by the support team

4/ What's Robinhood?

Robinhood is a commission-free stock trading and investing application.

It has an exchange known as Robinhood Crypto that allows users to transact digital currencies 24/7 without fees.

5/ Pros of Robinhood?

1. No fees or commissions
2. iOS and Android app
3. Weekly, bi-weekly, monthly, and quarterly auto-transactions

6/ Cons of Robinhood

1. No crypto deposits/withdrawals
2. Does not support retirement accounts, mutual funds, or bonds
3. Limited customer support
4. Fewer cryptocurrencies
5. App is prone to failure - failed 3 times in March 2020

7/ What's the verdict? Gemini? Robinhood?

If you are just getting started with crypto, start with Robinhood.

For more experienced and long-term investors, get on Gemini.

8/ If you enjoyed this, follow me for more threads on crypto, investing, and creator economy👇

9/ You can find all of my threads in the meta-thread below!

https://twitter.com/austinschless/status/1357185332354113543?s=20