Cryptocurrency is the future of money. If relevant exchanges don’t provide a conducive, secure, and convenient environment for consumers to invest in cryptocurrency, the industry will fail. That is the main motive behind creating Gemini Exchange – a U.S based cryptocurrency exchange. Today let us have a detailed review of Gemini
Official Website | https://www.gemini.com/ |
Founding Year | 2015 |
Head Quarters | New York, United States |
Trading Volume | $19 Million |
Trading Options | Spot & Derivatives |
Trading fees | Maker Fees – 0.20 – 0.00% & Taker Fees – 0.40-0.03%. Also charges transaction fee 1.49% of total order value |
Total listed Coins | 90+ |
Trading Pairs | 100+ |
Supported fiat | USD, CAD, HKD, AUD, EUR, GBP, JPY, SGD, CHF |
Withdraw options | Only ERC supported |
Bank withdrawal Supported | Yes |
Withdraw fees | Only Network fee required for crypto withdrawals |
Deposit methods | ACH, Wire Transfer, Debit Card & Paypal |
Restricted countries | 7+ |
Native Token | Gemini USD, (GUSD) |
Mobile app | Available on Google & Apple Play store |
Support Channel | https://support.gemini.com/hc/en-us |
Coinpedia rating | 8/10 |
Security rating | 8/10 |
User Interface | Easy to use |
Ease to set up | Easy |
App store Rating | 4.8 |
Play store Rating | 4.3 |
Security | Highly Secured |
Hacking attempts/Hacks | Never been hacked |
KYC verification duration | 3-4 days |
Regulation & Compliance | Complaint |
Liquidity | Highly liquid |
Proof Of Reserve | https://www.gemini.com/trust-center |
Gemini is a centralized, NYFDS-licensed cryptocurrency exchange founded in 2015 by Winklevoss Brothers (Tyler Winklevoss & Cameron Winklevoss). Winklevoss brothers are famous for the lawsuit against Mark Zuckerberg for stealing their Facebook idea.
Winklevoss brothers started the company to provide a safe and compliant exchange to store and trade cryptocurrencies. Gemini is founded on four pillars – product, security, license, and compliance– to gain users’ trust. Gemini has its own stablecoin Gemini Dollar (GUSD).
Gemini is also the world’s first cryptocurrency exchange and custodian to complete SOC 1 Type 2 & SOC 2 Type 2 examinations.
Gemini serves
The institutional products offered by Gemini include
Gemini supports native coins, supported SPL tokens, and ERC 20 tokens which will amount to 100+ digital assets on its platform. Some of the popular cryptocurrencies on Gemini are
1: Visit the Official Gemini Website. Click [Register]
2: Fill in the information on the next page. This will include your full name, your email address, and a password. When you are completed with this, read the [user agreement] and [privacy policy].
3: Then click the [Create my account] Option.
4: Verify your email and phone number
5. Provide your date of Birth
6: Complete identity verification by uploading a government-issued photo ID.
It will take around 24-48 hours for account activation
You can now buy cryptos very easily on Gemini
How to Buy crypto on the Web interface
How to Buy crypto on the App
How to Sell crypto on the Web interface
How to Sell crypto on the App
To deposit supported crypto into your Gemini account, you need to navigate to the Deposit Page Here and follow the steps below:
To transfer your crypto to an external wallet or exchange, you need to navigate to the Withdrawal Page Here and follow the steps below:
If you are using the Authy app for Two-Factor Authentication (2FA), the withdrawal can only proceed if you approve the transaction on your Authy app within 4 minutes of requesting the withdrawal.
If you receive Two-Factor Authentication codes via SMS, you will receive a text message with your 2FA code to approve the transaction.
Fees are slightly high compared to other exchanges. For mobile and web app users, Gemini charges a flat 0.5% above the current trading price (which Gemini calls its “convenience fee”).
On top of that, it charges a transaction fee, based on the amount traded: a tiered flat fee of up to $200; orders above $200 are charged 1.49%.
WEB ORDER AMOUNT – USD | TRANSACTION FEE – USD |
≤ $10.00 | $0.99 |
> $10.00 but ≤ $25.00 | $1.49 |
> $25.00 but ≤ $50.00 | $1.99 |
> $50.00 but ≤ $200.00 | $2.99 |
> $200.00 | 1.49% of your Web Order value |
For high volume traders the trading fees are different on the ActiveTrader Platform & is listed below.
30-DAY TRADING VOLUME IN (USD NOTIONAL) | TAKER FEE | MAKER FEE |
0 | 0.40% | 0.20% |
≥ $10,000 | 0.30% | 0.10% |
≥ $50,000 | 0.25% | 0.10% |
≥ $100,000 | 0.20% | 0.08% |
≥ $1,000,000 | 0.15% | 0.05% |
≥ $5,000,000 | 0.10% | 0.03% |
≥ $10,000,000 | 0.08% | 0.02% |
≥ $50,000,000 | 0.05% | 0.00% |
≥ $100,000,000 | 0.04% | 0.00% |
≥ $500,000,000 | 0.03% | 0.00% |
For stable coin trading the maker fee is 0.00% & Taker fee is 0.01%
Deposit Fees
There are no deposit charges for cryptocurrencies and bank wire transfer. However Debit & Paypal are chargeable.
DEPOSIT FEES | COST |
All cryptocurrencies, ACH, Gemini dollar (redemption) | Free |
Wire Transfer | Free |
Debit Card Transfer | 3.49% of total purchase amount |
PayPal | 2.50% of total deposit amount |
Gemini Mobile App allows you to buy, sell and stake cryptos. The best part is that you can earn in cryptos as cash back every time you purchase with Gemini Card. Moreover, the fees on purchase are slightly high on the mobile app
Gemini offers a referral program where when the referee completes a trade of 100$ in the first 30 days, the referrer can get $10 in bitcoin.
Gemini Affiliate Program – If you are a content creator, influencer, or crypto world leader, you can tie up with Gemini and earn a commission for every new active user you bring into the system.
All you need to do is simply follow the steps mentioned below
Gemini has a help section where customers can find solutions to their queries. It is basically articles on various topics and FAQs. In addition to that Gemini has a Chat support section but it is a Chatbot chat box where the bot finds answers to queries. For further help, you can raise an email ticket to the support team here
10 May 2023 – The meme coin – Pepe has been listed on Gemini
01 May 2023 – Genesis, DCG, UCC, Creditor Committee, and Gemini will enter a 30-day mediation process to reach a final resolution as soon as possible.
Gemini is an NYDFS (New York State Department for Financial Services) licensed cryptocurrency exchange whose top priority is digital asset security and consumer protection. Gemini is licensed in New York as a Trust Company. It is regulated under New York Banking Law, by the New York State Department of Financial Services. They are a fully secured platform.
They have over 70 digital assets and offer spot training as their main trading line. However, the transaction and other fees associated with it are higher compared to other platforms. They have special products for institutional-grade investors.
Gemini is best for
If you are looking for long-term investment purposes with world-class security features, Gemini is a good option. But if you are a short-term trader you need to look for other options.
As Winklevoss Brothers explain, Gemini is a Latin word for ‘Twins’. It also explores the concept of duality. They were drawn to it as they believed it had a connection with the concept of the duality of money (Old money & New money). Moreover, NASA’s project Gemini was launched with the purpose to land a man on the moon which will be a “bridge to the moon”. Same way Gemini will serve as “your bridge to the future of money”. Thus the name Gemini was given to the centralized exchange.
It takes about 24-48 hours to verify your Gemini account
Yes, Gemini has its own NFT Market Place called Gemini Nifty Trade. A user can browse the latest collection of NFT and its lowest bid rate after successful verification of their account.
Gemini Earn allows customers to generate yields by lending their crypto assets to a borrowing counterparty. Currently, Gemini Earn is halted following the FTX fall
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