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Gemini Review

Gemini Review

Alysha Jane
Fact Checked
Jan 27, 2023

Summary: Gemini is a cryptocurrency exchange that was founded in 2014 by the Winklevoss twins, Cameron and Tyler. As one of the leading exchanges in the industry, Gemini offers traders access to a wide range of digital currencies. The platform is known for its high levels of security and reliability, making it a trusted choice for traders around the world.

Table of Contents

Gemini Exchange Highlights

Platform Highlights

  • Supported in over 60 countries globally.
  • Trade 100+ cryptocurrencies like Bitcoin & Ethereum.
  • Spend crypto with the Gemini Credit Card.
Gemini Review
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Audited Proof of Reserves
Audited Proof of Reserves

Gemini Features

Gemini is a cryptocurrency exchange that offers a wide range of features to help users safely and securely buy, sell, and store cryptocurrencies. Below we have provided a detailed summary of the features that Gemini has to offer.

  1. Trade over 100 of the most popular cryptocurrencies like Bitcoin, Dogecoin and Litecoin.
  2. Stake Ethereum for 3.71% and Polygon for 4.51% APY (Annual Percentage Yields).
  3. An advanced trading platform called 'Active Trader' for experienced investors and institutional clients.
  4. A Crypto credit card issued by Mastercard that allows users to spend any of Geminis supported tokens at millions of merchants globally.
  5. Store your tokens with Gemini wallet, a crypto wallet that insures your assets with top banks.
  6. Invest in GUSD, Gemini's USD-backed stablecoin.
  7. A P2P marketplace called 'Gemini Clearing' that allows users to buy and sell tokens at a pre-arranged price.
Gemini Exchange.
Gemini Exchange.

Gemini Fees Schedule

One of Gemini's drawbacks is its extremely high pricing. The exchange charges a variety of fees that you won't find on other exchanges such as a 'Convenience Fee', which is added to every crypto trade. Additionally, its normal deposit, trading and withdrawal fees are much higher than the industry average. Refer to the below list for a breakdown of Geminis fees.

  • Deposit Fee: ACH, Wire Transfer & Crypto are free but theres a 3.49% fee for Card and 2.5% for PayPal.
  • Withdrawal Fee: $125USD per withdrawal.
  • Trading Fee: 2.37% for web trades and 1.49% for mobile trades.
  • Convenience Fee: 0.5%.
  • Custody Fee: This is a fee you must pay to Gemini to store your funds on their exchange, it is 0.4%.
Gemini: Fees.
Gemini: Fees.

Is Gemini a safe exchange?

A key benefit of Gemini is its robust security measures. Gemini uses multi-level cold storage to store user funds, which keeps users' cryptocurrency assets safe from hackers and other online threats. Gemini also employs SSL encryption to protect sensitive data, as well as two-factor authentication to further safeguard user accounts.

Gemini: Security.
Gemini: Security.

Customer Support and Online Communities

In addition to its security features, Gemini offers excellent customer support and a vibrant community of users. Gemini provides 24/7 support through email (support@gemini.com), phone, help centre and live chat. It also has an active presence on social media platforms like Facebook, Twitter, Instagram and LinkedIn where traders can find the latest exchange news.

Gemini: Help Centre.
Gemini: Help Centre.

Gemini Crypto Mastercard

The Gemini Credit Card is a revolutionary new payment solution that allows users to seamlessly store, send, and receive cryptocurrency. Unlike other traditional credit cards, the Gemini Credit Card allows users to spend any of the supported tokens on Gemini for real life purchases like bills. groceries, clothing and food. It offers 10% cash back on gas purchases and 3% on everything else.

Gemini: Credit Card.
Gemini: Credit Card.

Is Gemini Exchange Regulated?

Yes, Gemini Trust Company, LLC (Gemini) is a New York trust company that is subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the New York State Department of Financial Services (NYDFS) and the New York Banking Law. Gemini is a fiduciary and subject to the Banking Law, and is also a member of the Federal Reserve System.

Gemini is also a licensed, chartered limited liability trust company, and is a member of the Crypto Currency Certification Consortium (C4). Furthermore, Gemini is also a registered and regulated Digital Currency Exchange, as well as a registered financial services company, under the laws of the state of New York.

Does Gemini have a mobile app?

Yes, Gemini offers a mobile version of its exchange that is available to download on both iOS and Android devices. The application offers all the same functionality as its web counterpart. Users can make trades, stake tokens, contact support and check their portfolio, all on the go!

The Gemini app has an incredibly high rating on 4.8 stars from 92K reviews on the Apple App Store. And it has 4.5 stars from 45K reviews on the Google Play Store. Both of the stores reviews are positive and comment on the simple and easy-to-navigate UI of the application.

Gemini App: iPhone Screenshot.
Gemini App: iPhone Screenshot.

Final Thoughts

Gemini is a secure crypto exchange that offers useful features to help traders safely and securely buy, sell, and store cryptocurrencies. However, its downside is its extremely high fees. If you want to invest in cryptocurrencies, we do not recommend using Gemini, the more affordable option is the feature-rich platform that doesn't require KYC, Bybit.

Alysha Jane

I am a Finance graduate and market analyst that enjoys researching and writing about digital assets and how they intersect with Macro.

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