There are lots of different digital currency exchanges and each one has different advantages and disadvantages to their platforms. Some offer lots of different coins but have questionable security.
Meanwhile, others offer only a few digital assets and have great security features. This can make it very tricky to pick the right one for you.
This article will cover the following topics of Gemini exchange, such as its fees, supported currencies, pros and cons, and much more. Let us look into this review in detail now.
Table of contents
|Legal Name||Gemini Exchange|
|Headquarters||New York City, U.S|
|Trading Fees:||Maker: 0.00%/ Taker: 0.1-1%|
|Deposit Methods||Cryptocurrency, Wire transfer Bank transfer (the USA only)|
Supported Cryptos: BTC, ETH, BCH, LTC, ZEC, OXT, DAI, BAT, LINK,OMG +10 & more
|Supported Cryptos||BTC, ETH, BCH, LTC, ZEC, OXT, DAI, BAT, LINK,OMG +10 & more|
|Customer Service||Email, Phone|
|Trading Options||Spot Trading, Margin Trading|
What is Gemini Exchange?
Gemini exchange is the first licensed bitcoin and Ethereum trust company to be registered with the New York State Department of Financial Services (NYSDFS). This platform allows users to deposit fiat currency and trade bitcoin, Ethereum, and various other cryptocurrencies across a variety of different order types.
It is based in New York. It has quickly become one of the most respected cryptocurrency exchanges in the digital currency space. It is also one of the only US exchanges that enables dollar-to-crypto and crypto-to-crypto trading.
The platform currently employs 51 people and is currently the 39th largest exchange in the world according to the 24-hour volume quoted on Coinmarketcap.
How to Set Up an Account
Step 1: Visit the Official Gemini Website. Click “Register” on the top right corner.
Step 3: Then click the “Create my account” Option.
Step 4: Fill in your phone number on the next page. You will be sent a code to your phone. It is important to use your correct number as this is part of the verification process.
Step 5: You will then be redirected back to Gemini’s dashboard where you must first set up the 2-Factor Authentication option.
How to recover the Gemini Exchange password?
To recover the password, Go to the Gemini exchange login, Click on the “Forgot Password” option. Then enter your personal information and user id after which you can reset your password.
How to buy cryptocurrencies
Step 1: Log in to your Gemini account and Click on the “ Buy” Option
Step 2: Choose a currency pair you wish to buy. Now, a continuous book screen will appear
Step 3: Select the trade amount
Step 4: Follow the advance pricing chart
Step 5: Form will autofill. Now Click on Buy.
How to sell cryptocurrencies
Step 1: Log in to your Gemini account and Click on the “Sell” Option
Step 2: Choose a currency pair you wish to sell. Now, a continuous book screen will appear
Step 3: Select the trade amount you wish to trade
Step 4: Follow the advance pricing chart
Step 5: Form will autofill. Now Click on Sell.
Deposit & Withdrawal Procedure
Step 1: Log in to your Gemini account
Step 2: After logging in, Go to “Transfer funds” then select on “Deposit into Exchange”/“Withdraw into Exchange”
Step 3: Now click “Bank Transfer”, Then Select ‘USD’ from the dropdown menu.
Step 4: Choose your bank account. Enter the account details and the amount you want to deposit. Then click on “Next”.
Step 5: Review your deposit/withdrawal and then click “Confirm”
Trading Fees and Payment Types
Depositing USD into your Gemini account is completely free. The exchange does not charge for a wire transfer or ACH deposits. However, wire transfers may be subject to bank fees. Gemini exchange fees for wire deposits or withdrawals are free of cost anywhere in the world when trading in bitcoin and Ethereum.
Trading fees vary depending on your 30-day trade volume. There are six tiers of the maker, taker, and auction fees that range from 1% for light traders to 0.1% for takers and 0% for makers when trading more than 2,000 BTC or 20,000 ETH over the last 30 days.
When it comes to trading, the following pairs are supported:
Gemini exchange currently supports the following digital assets,
- Bitcoin Cash(BCH)
- Basic Attention Token(BAT)
Gemini Exchange Mobile App
The introduction of Gemini’s mobile app gives you an even easier and more direct experience of everything the exchange has to offer than the desktop version does.
As long as you are not looking to place complicated trades, the mobile app will suit your needs just fine. Buying BTC or ETH with it is as simple as clicking around for a minute or two and you’re good to go.
Referral Commissions & Other Services
The Gemini Affiliate Program
If you are content creators or community leaders who align with Gemini’s mission and values to promote their suite of products and services, You can be an affiliate. Below are the steps that need to be followed
Step 1 – Apply today to share the benefits of crypto.
Step 2 – Gemini will review your application and once approved, you’ll receive a unique referral link to provide to your audience.
Step 3 – Begin promoting through your custom link in articles, social media, ads, and other forms of content, and earn commission on every new active customer.
Refer A Friend
Refer a friend to join Gemini Exchange through your link. Both your accounts will be credited $10 (or 10 USD equivalent of your domestic currency) after your friend buys or sells $100 or more (or 100 USD equivalent of your domestic currency) within 30 days of creating their account.
Is Gemini Exchange Safe & Secure
Yes, Gemini Exchange is Safe and Secure. The state of New York has a regulatory body that oversees cryptocurrency exchanges operating within its jurisdiction. It is the first licensed digital asset exchange for individuals and institutions. It is fully registered and compliant with banking standards. This makes it suitable for institutional clients, as well as individuals. Gemini is one of the safest exchanges to do business.
As for Customer Support, There is a blog and a lengthy FAQ section to deal with issues. When neither of these things is enough, complaints and issues are dealt with using email. The exchange usually replies within a matter of hours, rather than days.
As per the Gemini exchange reviews, it is without a doubt one of the most secure and highly regulated crypto trading platforms. The security measures that the platform puts in place ensure that your digital assets are out of reach of cybercriminals and third-party intruders.
Gemini is also ideal for users who want to make lots of trades daily. Professional traders will certainly enjoy the enhanced security features protecting both their fiat and digital currency accounts
Thus, traders who live in the US or US citizens should seriously consider using Gemini as their source for their trading services.
- How do I deposit in a Gemini account?
Gemini accepts cryptocurrency (ETH and BTC) as well as fiat money deposits in (in USD).
- Is there any initial cost for an account with Gemini?
Gemini does not have a minimum initial deposit or account operating balance
3. How long does it take for transfer on Gemini?
Gemini accepts both crypto and fiat deposits and withdrawals. And while crypto transactions are almost immediate bank transfers in and out of your Gemini account will take between 3 and 5 days.
- How many trading pairs can I trade on Gemini?
Currently, Gemini supports five cryptocurrencies and one fiat currency. This means that you can only trade 12 crypto and fiat pairs.
- Is the Gemini crypto exchange safe?
Gemini was the first to pass the SOC 2 security verification. It has also developed some highly advanced sophisticated security systems meant to keep away cybercriminals and hackers.
Gemini exchange Ratings
- Currency Support
- Online Reputation
- Customer Support
- Strong reputation backed by two leading investors
- Dollar-to-crypto and crypto-to-crypto trading
- Straightforward registration process
- Discounts and rebates for high-volume traders
- A limited selection of altcoins
- Limited funding methods
- Additional mobile transaction charges
- Only accepts clients from the US, not open to the rest of the world.