Gemini is a user-friendly cryptocurrency exchange that may be suitable for both novice and expert traders.
Gemini is worth considering if you’re interested in crypto investment or trading because it has industry-leading security measures, its own hot wallet, and a thorough help center.
Year Established: 2014
Official Website: gemini.com
Cryptocurrencies Allowed: 100
Customer Support: Chatbots, Support tickets
Gemini is an easy-to-use cryptocurrency exchange with features that will likely appeal to both rookie and expert traders.
The Company, in addition to its exchange, provides a crypto rewards credit card and the ability to pay with and earn interest on your cryptocurrency.
A complete support center is available to users, as are real-time status updates advising them of any downtime or scheduled platform maintenance.
Pros & Cons
- Available in all 50 U.S. states
- Hot wallet insurance
- Strong security
- Only around 100 cryptocurrencies are available
- Trading fees can be high
Gemini Trust Company LLC is a cryptocurrency exchange that offers approximately 100 cryptocurrencies for purchase, sale, and trading.
Aside from a good assortment of crypto, the site offers excellent account security and compliance procedures.
Users may also take advantage of a cryptocurrency rewards credit card, the ability to earn interest on crypto, a built-in hot wallet, and the ability to pay their favorite stores using bitcoin.
Tyler and Cameron Winklevoss started Gemini in New York in 2014 after failing to find a secure place to store their cryptocurrency.
Since its inception, the platform has been built around four pillars: product, security, licensing, and compliance. Its mission is to gain and keep customer trust by providing a safe, compliant crypto exchange platform.
While Gemini stands out for its emphasis on security and compliance, the exchange provides fewer cryptocurrencies than many competitors.
There are now 98 coins on the site. Nonetheless, despite its limited number of tradable assets, this platform is a fantastic choice for both rookie and expert traders due to its strong security focus and wide selection of products and tools.
The company recently became the industry’s first SOC 2-certified crypto exchange. Third-party auditors administer the SOC 2 evaluation, which evaluates a product’s or company’s levels of security and compliance.
Read our complete Coinbase Review here.
Cryptocurrencies Available On Gemini
While this crypto exchange has fewer cryptocurrencies than other big exchanges, it nevertheless has about 100 assets on its platform.
Users have the ability to purchase, sell, and exchange some of the most popular assets as well as some lesser-known coins.
Here is a brief list of the cryptocurrencies that are now available on Gemini:
- Bitcoin (BTC)
- Ethereum (ETH)
- Dogecoin (DOGE)
- Gemini Dollar (GUSD)
- Solana (SOL)
- Cardano (ADA)
- USD Coin (USDC)
- Terra (LUNA)
- Uniswap (UNI)
Both the website and the mobile app provide an easy-to-use trading experience. The company’s straightforward purchase and sell option, as well as its substantial support page, will appeal to beginners.
Experienced traders will like its ActiveTrader platform, which provides comprehensive charting capabilities and several order types as well as the ability to execute trades rapidly.
To utilize all of Gemini’s trading facilities, users must first pass an identity verification process. Uploading a government-issued photo ID, such as a driver’s license or passport, is required for this process.
Gemini’s fees structure differs from that of many other exchanges, which typically employ a tiered maker/taker charge scheme.
Its fees vary based on the amount traded and the platform used. Gemini, for example, has a mobile fee structure as well as a desktop fee schedule.
Fees for trades higher than $50 but less than $200 might be as high as $2.99, or as low as 1.49 percent for exchanges of $200 or more.
While this exchange’s fees are straightforward, its fundamental fee structure is slightly more convoluted than those of some other exchanges.
Its fees are likewise slightly higher than those of several industry competitors. Fees for people who intend to use Gemini’s ActiveTrader platform are as follows:
Gemini provides industry-standard security features such as two-factor authentication, wallet address whitelisting, and the ability to verify and approve login devices.
Users must also complete the platform’s know-your-customer (KYC) verification process, which includes uploading a government-issued photo ID, in order to access the platform’s full range of trading tools.
This procedure is intended to limit the number of occurrences of fraud on Gemini.
In addition to its security capabilities, Gemini has received SOC 2-certification, demonstrating the platform’s dedication to security and compliance.
This exchange also provides FDIC insurance for deposits in US dollars up to $250,000, as well as digital asset insurance for monies held in its hot wallet.
In the event of a breach or hacking incidence, this insurance helps to secure user payments.
Opening a Gemini account
To get started with Gemini, simply provide your name, email address, and password. Following that, you’ll receive an email to confirm your account, set up multi-factor authentication, and begin the identity verification process.
After completing identification verification, you will be able to connect your bank account or debit card and begin buying and selling cryptocurrency.
Gemini has a comprehensive help section where users can get solutions to frequently asked questions.
It also includes a virtual chatbot and the opportunity to submit a support request for human assistance.
Gemini, like many other cryptocurrency exchanges, does not provide live phone service to individual users.
While Gemini’s platform is simple to use, consumer reaction has been mixed. 370 Trustpilot evaluations give the exchange an average rating of 1.5 out of five stars.
Users that are dissatisfied report frozen accounts, lengthy verification processes, and bad customer service.
Some customers, on the other hand, commend Gemini’s dependability, user-friendly interface, and regulatory compliance.
Gemini’s web dashboard and mobile apps for Android and iOS allow users to access their accounts, make deposits, and buy and sell cryptocurrency.
Its ActiveTrader platform is also accessible via desktop and mobile browsers, allowing users to trade from home or on the go.
You should be prepared for a self-service account experience as a Gemini user.
While there are some choices for customer help in this exchange, you will be responsible for browsing the site and learning how it operates.
It’s worth mentioning that most cryptocurrency exchanges function in a similar manner, relying on consumers to conduct their own research and manage their accounts primarily on their own.
How Gemini Compares To Other Exchanges
In comparison to other top cryptocurrency exchanges, Gemini is a relatively safe platform with an intuitive user interface and useful features.
Users can earn interest on their crypto and access a suite of innovative products, including a crypto rewards credit card and a tool that allows you to pay for daily goods with cryptocurrency, in addition to the ability to buy, sell, and trade bitcoin.
Those looking for a safe, user-friendly platform to purchase, sell, and exchange cryptocurrency may find it with Gemini. It has a basic buy/sell form and an easy-to-navigate UI for newbies.
Its Active Trader platform, which includes extensive charting tools and many order types, is useful for advanced traders.
While Gemini’s charge structure is slightly more complex than that of other top platforms, it is fee-transparent, so you will not be startled by unexpected costs.
Gemini could be worth investigating if you’re thinking about investing in or trading cryptocurrencies, whether you’re new to crypto or a seasoned trader.