Gemini

Written By
Deniz Saat
Reviewed By

Find how Gemini offers one of the safest cryptocurrency exchange experiences on the market. With its user friendly interface, Gemini makes crypto trading easy for beginners and ideal for professionals. Learn about all of Gemini’s exchange features in this review.

Overview

Security compliant

Competitive trading fees

User-friendly interface

Overall Rating
  • Features
  • Ease of Use
  • Payment Options
  • Fees
  • Security

Jump to Section

Who Are They?FeaturesCurrencies SupportedPayment MethodsSupported CountriesFees and Buying LimitsCustomer Reviews
Is 
Gemini
 Safe? 
ProsConsFAQ

Who are they?

Gemini was founded by Cameron and Tyler Winklevoss as a retail and institutional cryptocurrency exchange service in late 2015. Located in New York, Gemini is the first licensed exchange registered with the New York State Department of Financial Services (NYSDFS). Gemini is always at the forefront of providing the best security features for their users. The Gemini team continues to meet all regulatory and compliance requirements in order to operate within as many jurisdictions as governments will allow. Gemini is notably one of the most trustworthy exchanges and supports fiat-to-crypto and crypto-to-crypto trading. Gemini was also the first exchange to offer BTC futures contracts in December of 2017.

Features

Gemini is one of the most user-friendly platforms on the market. The exchange provides a quick, smooth, and responsive experience. Gemini’s TradingView platform provides the professional trader (and beginner) with all of the trading tools, charts, and metrics they will need to start trading or buying cryptocurrency. Here are the main features that Gemini’s platform provides for its users:

  • Mobile app: Gemini offers a user-friendly mobile app that allows account holders to buy and sell crypto assets directly from their phone. While the app is available for Android and iOS devices, Gemini’s website is tablet and mobile-friendly as well. Please be aware that Gemini’s ActiveTrader platform is not available within the app.
  • Insured custody: Gemini’s custodial services store all client assets in a secure cold storage setup. All cold storage funds are FDIC insured.
  • Gemini Pay: Gemini Pay has partnered with Flexa to provide fast payments with vendors. This feature allows users to also spend their cryptocurrencies on products and services.
  • Reliable Customer Support: Gemini provides their users with a dedicated support team. The Gemini knowledge base will cover most inquiries but if there is an issue specific to your account, there is a support number to call during business hours as well as an email to contact during non-business hours.
  • Sandbox: The Sandbox platform is a training platform for beginners who want to become more comfortable using the exchange. A user will need to provide their phone number for two-factor authentication in order to activate a Sandbox account. The Sandbox platform simulates all the same features that Gemini’s live trading exchange has.
  • Web trader: Web trader is a great tool for beginners if they wish to practice trading crypto assets.
  • Gemini ActiveTrader: Gemini’s ActiveTrader provides advanced charting tools, additional trading pairs, and more metrics for more seasoned traders.
  • Gemini Dollar: Gemini Dollar (GUSD) is a regulated stablecoin pegged to US dollars that are held in Gemini’s reserves.
  • Two-factor authentication: Gemini requires two-factor authentication for all user accounts.
  • Block Trading: Block trading allows users to exchange large amounts of crypto assets outside of Gemini’s order books. Block trading enables users to source liquidity at peak trading times.
  • Gemini Clearing: This feature allows two parties to settle a trade outside of Gemini’s exchange. Once the trade is agreed upon between two parties, the initiator may submit an order through the Web UI, Rest API, or Fix API.
  • Gemini Auction: Auctions allow for specific trading pairs to be exchanged between two parties. This allows for high price discovery and reduced price slippage.

Cryptocurrencies

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Zcash (ZEC)
  • Basic Attention Token (BAT)
  • Chainlink (LINK)
  • Dai (DAI)
  • Ripple (XRP)
  • Gemini Dollar (GUSD)

Fiat Currencies

  • United States Dollar (USD)
  • Australian Dollar (AUD)
  • Canadian Dollar (CAD)
  • Honk Kong Dollar (HKD)
  • Euro (EUR)
  • Great British Pound (GBP)

Payment Methods

  • Bank Transfer
  • Wire Transfer
  • Debit card

Supported Countries

Gemini operates in the following countries.

  • United States (except Hawaii)
  • Canada
  • Hong Kong
  • Singapore
  • South Korea
  • United Kingdom
  • Australia

Fees and Buying Limits

  • Gemini uses a dynamic maker-taker fee model and is calculated based on a 30-days trailing period.
  • There are six-tiers of fees.
  • The maker-fee is 0.25%, and the taker-fee is 0.35% for an active trader.
  • Gemini charges zero fees for cryptocurrency withdrawal and deposits. However, wire transfers may be subject to bank fees.

Customer Reviews

“Gemini is a great exchange for those who value security above all else. This makes it well-suited for those exchanging large amounts of fiat currency for either Bitcoin or Ether. Being fully licensed and offering the additional security features it does makes it one of the most secure exchanges in the cryptocurrency space.” Reference

In 2018, Gemini became the world’s first and presumably only exchange to offer a fully regulated ZEC trading and custody environment. Reference

Gemini is the perfect exchange if what you want to do is buy Bitcoin, Ethereum, Litecoin, Bitcoin Cash, or Zcash. If those assets do not interest you, then Gemini has no place in your orbit.” Reference

Is 

Gemini

 safe? 

Gemini is a licensed and regulated crypto exchange that operates within New York, one of the most regulated states in the US. There are currently no reported incidents verifying a hack on the exchange. Gemini’s digital assets are secured in air-gapped cold-storage wallets, which are not connected to the internet. All funds that are held in hot wallets (for active trading) are FDIC insured. Gemini has garnered many awards and security certifications, including the most sought after SOC 2 title. Receiving an SOC 2 Type II title demonstrates the highest level of security compliance within the industry.

Pros of 

Gemini

  • Gemini’s user-friendly and well-designed interface allows both beginners and advanced traders to quickly begin trading.
  • Competitive trading fees.
  • Trustworthy and fully compliant with banking standards.
  • Gemini’s Sandbox accounts allow beginner users to build their trading skills.

Cons of 

Gemini

  • A limited selection of coins.
  • Limited funding methods.
  • Customer service is usually done through email.

FAQ

1. Is Gemini a good crypto exchange?

Gemini is an excellent exchange for users who hold security as their top priority. The exchange is licensed with the highest security measures. Gemini’s team also continues to add more cryptocurrencies for traders.

2. Does Gemini have an initial cost for opening an account?

No, Gemini does not require a minimum initial deposit or an opening balance.

3. Is Gemini better than Coinbase?

Both exchanges offer excellent security measures for their users. In terms of altcoin selection, Coinbase is the better option. If a user is more interested in lower fees, Gemini provides more cost-effective trading options.

4. Does Gemini have a referral program?

Yes, a Gemini user may refer anyone with their referral link. Once the referred user purchases $100 worth of crypto within the first 30 days of creating their account, both users will be credited $10 worth of bitcoin.

WRITTEN BY
Deniz Saat
Deniz Saat is an IT services specialist and technical writer.
REVIEWED BY

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