Cryptocurrency Exchange

Gemini Exchange Review 2020

Overview

Legal NameGemini Exchange
HeadquartersNew York City, U.S
CEOTyler Winklevoss
Year Founded2013
Exchange TypeCentralized
Trading Fees:Maker: 0.00%/ Taker: 0.1-1%
Deposit MethodsCryptocurrency, Wire transfer Bank transfer (the USA only)
Supported Cryptos: BTC, ETH, BCH, LTC, ZEC, OXT, DAI, BAT, LINK,OMG +10 & more
Supported CryptosBTC, ETH, BCH, LTC, ZEC, OXT, DAI, BAT, LINK,OMG +10 & more
FiatUSD
Customer ServiceEmail, Phone
Trading OptionsSpot Trading, Margin Trading

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 much tricky to pick the one that is right for you. Fortunately, this Gemini review is here to help you out!

In this article, we 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,

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 and Ethereum across a variety of different order types.

The Gemini exchange 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 Gemini crypto exchange currently employs 51 people and is currently the 39th largest exchange in the world according to 24-hour volume quoted on Coinmarketcap.

Gemini Exchange Features

  1. Trading Platform: Gemini offers users a very simple web interface that allows users to trade cryptocurrencies. The web interface can be of the regular UI variety or can be of the sandbox type. Access to the trading environment requires secure login details.
  2. Regulation: The state of New York has a regulatory body that oversees cryptocurrency exchanges operating within its jurisdiction. Gemini is the first licensed digital asset exchange for individuals and institutions.
  3. Reliability: 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.
  4. Customer support: There are 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.

Gemini Exchange Fees and Limits

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.

Gemini-Exchange-Fees-and-Limits

Gemini Exchange Supported Currencies

When it comes to trading, the following pairs are supported:

  • BTC/USD
  • ETH/USD
  • ETH/BTC

Gemini exchange currently supports the following digital assets,

  • Bitcoin(BTC)
  • Ether(ETH)
  • Litecoin(LTC)
  • Bitcoin Cash(BCH)
  • Zcash(ZEC)
  • Basic Attention Token(BAT)
  • Chainlink(LINK)
  • Dai(DAI)
  • Orchid(OXT)

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.

Gemini-Exchange-Mobile-App

How to register on Gemini Exchange?

  1. Step 1:

    Visit the Official Gemini Website. Click “Register” on the top right corner.

  2. Step 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. Step 3:

    Then click the “Create my account” Option.

  4. 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.

  5. 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?

In certain cases, to recover the Gemini 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 deposit on Gemini Exchange?

Step 1: Log in to your Gemini account

Step 2: After logging in, Go to “Transfer funds” then select on “Deposit 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 and then click “Confirm” 

How to withdraw on Gemini Exchange?

Step 1: Log in to your Gemini account

Step 2: After logging in, Go to “Transfer funds” then select on “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 withdraw. Then click on “Next”.

Step 5: Review your withdrawal and then click “Confirm” 

How to buy cryptocurrencies on Gemini Exchange?

Step 1: Log in to your Gemini account

Step 2: Click on buy option

Step 3: Choose a currency pair you wish to buy

Step 4: Continuous book screen will appear

Step 5: Select the trade amount

Step 6: Follow the advance pricing chart

Step 7: Form will autofill. Now Click on Buy.

How to sell cryptocurrencies on Gemini Exchange?

Step 1: Log in to your Gemini account

Step 2: Click on Sell option

Step 3: Choose a currency pair you wish to sell

Step 4: Continuous book screen will appear

Step 5: Select the trade amount you wish to trade

Step 6: Follow the advance pricing chart

Step 7: Form will autofill. Now Click on Sell.

Gemini Exchange Pros and Cons

Pros

  • 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

Cons

  • 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.

Conclusion

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 Gemini 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 are US citizens should seriously consider using Gemini as their source for their trading services.

Recent Updates

  • On April 15, 2020, Gemini exchange adds support for three new crypto tokens: DAI, LINK, and OXT
  • On May 28, 2020, Gemini First U.S. Cryptocurrency Exchange to Integrate with Samsung Blockchain Wallet in North America
  • On June 11, 2020, Gemini Appoints New Asia-Pacific MD, Sets Sights on Singapore Expansion
  • On July 14, 2020, Gemini Unveils Hardware Key Compatibility on Mobile App

Gemini Exchange FAQ’s

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

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 - 8

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Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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