Review of Gemini
Gemini is rare among crypto exchanges to be open to traders in the US. It’s famously founded by the Winklevoss twins, who were involved in the foundation of Facebook and are best known for being reprised in the 2014 film ‘The Social Network’. Read on to learn more about Gemini and to decide whether you should sign up.
Pros & Cons
What can I do with Gemini?
Gemini offers cryptocurrency trading with more than 50 coins available on the platform. It boasts lots of useful trading features, like block trading, multiple order types, and auctions.
One of the key pillars of Gemini is that it’s very security conscious and beginner-friendly. That’s reflected by the fact it’s regulated in the United States, and offers even the most inexperienced users the opportunity to execute a trading strategy with a simple order process and an intuitive interface.
Gemini cryptocurrencies and trading options
What cryptocurrencies can you trade on Gemini?
Gemini offers over 50 cryptocurrencies. That means you can trade all the usual suspects such as Bitcoin, Ethereum, and Litecoin, but can also get involved with some smaller altcoins as well, such as Zcash and Chainlink.
Major cryptos traded on Gemini
- Bitcoin Cash
- Basic Attention Token
Gemini core currency pairs
All Gemini trading options
Gemini offers standard cryptocurrency and crypto pair trading options, with a good selection of choices within these two categories.
Can I trade with leverage on Gemini?
Due to their regulatory oversight, Gemini doesn’t currently offer margin or leveraged trading.
What are the spreads?
Gemini employs a maker-taker fee model for determining trading fees for all orders, instead of a spread schedule. Fees for under $500K of monthly trading volume start at 0.35% on the taker side and 0.25% on the maker side.
Fees, limits, and payment options on Gemini
What are the deposit and withdrawal fees, limits, and speeds?
Gemini supports transfers in cryptocurrency, debit/credit card, and bank transfer.
1-2 business days
Free (just bank wire fee)
1-2 business days
2-3 business days
How much are Gemini’s fees and commissions?
Gemini charges fixed maker and taker fees on each transaction which start at 0.35% on the taker side and 0.25% on the maker side. Additionally, Gemini also charges a 0.5% “platform connectivity fee” that applies to all transactions. These are on the high side among cryptocurrency brokers.
|Fee type||Fee amount||Commission|
|Transaction Fee||ranges from USD $0.99 to USD $2.99 for purchases between $0-$200||–|
Gemini trade sizes and limits
Gemini offers low trading minimums for their supported assets, starting at 0.00001 BTC. This is fairly standard among crypto brokers.
|Product||Minimum trade||Maximum trade|
Gemini trading platform
What devices can I use Gemini on?
Gemini allows you to buy and sell from almost any device, including from its mobile app which is available for both iOS and Android devices.
- Android mobile and tablet devices
- iOS mobile and tablet devices
Can I use Gemini in my country?
Gemini is currently available in more than 50 countries, including the United States, Canada, United Kingdom, and Germany. You can select your country from the list below to see if it is available where you are.
Is Gemini available in my language?
Currently Gemini’s only supported language is English.
How easy is it to use Gemini?
Gemini’s secure platform allows you to seamlessly buy, sell, and store your crypto either online through your browser or via mobile.
Its ActiveTrader trading platform is easy to use, but also comes packed with features such as microsecond transaction execution, multiple order types, and block trading for trades outside of the open market. All with mobile browser optimization for a professional experience.
The Gemini Wallet also enables you to store your assets in their insured hot wallet or an institutional-grade cold storage system that holds funds in reserve at a New York trust company and licensed fiduciary.
Gemini offers a simple, elegant, and secure platform that comes loaded with features.
This is the sale or purchase of a large number of securities at an arranged price between two parties. Such transactions are often performed outside of the open market to lessen the impact on the security price.
Traders can place an auction-only market order which will execute at the final auction price. Much like any other form of auction, this can be used to (hopefully) buy a security at a lower price.
This enables you to pay with crypto at over 30,000 U.S. retailers, in a free, simple, and secure way through the Gemini mobile app. All you have to do is tap the pay icon at the bottom of your screen, once you’ve selected what you would like to purchase and you’ll be ready to check out.
Security and regulation
Is Gemini safe?
Yes, Gemini offers a multitude of security features to defend against external threats, human error, and misuse of insider access. This includes two-factor account authentication (2FA), IP address whitelisting, and an offline, cold storage wallet with hardware security modules of FIPS 140-2 Level 3 rating or higher.
Am I and my cryptocurrency protected?
Yes, in addition to being self-insured by Gemini Custody for up to $200 million in coverage. Gemini is also one of the first crypto brokers and custodians to be licensed as a New York trust company that undergoes regular bank exams and is subject to the cyber security regulations set forth by the New York Department of Financial Services.
Is Gemini regulated?
Yes, Gemini is regulated by the New York State Department of Financial Services (NYSDFS) which is a state government agency responsible for regulating financial services and products, including those subject to the New York insurance, banking and financial services laws.
Gemini is also an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA)
Do I have to verify my account with Gemini?
Yes, Gemini complies with Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures.
To verify your account you will need to take a clear photo of your valid government photo ID. This could be a passport, national ID card or driver’s license and take a selfie of your face. Verification can take up to 24 hours.
Gemini provides a complete Resources and Learn section on its website. Contents include a crypto glossary, FAQ section, and tutorial guides on Bitcoin as well as other altcoins.
The FAQ section is particularly expansive, answering account management, trading, transfer/withdrawal questions and providing a full Getting Started guide.
Tools and charting
Whether novice or pro, Gemini has a multitude of tools for buying, selling, and storing crypto. From streamlined trading views which makes all tools available in one clear, simple interface to multiple order types (recurring buy, conditional, limit) to price alerts. Gemini’s exchange offers it all.
Gemini support is available both via email and online in the form of submitting a ticket request. Support is generally responsive and seems to answer all inquiries within 24 hours or less.
Gemini is a simple, secure platform for buying, selling, and storing your crypto. It boasts an elegant, easy to use trading platform, an integrated wallet, and even a crypto payment processor that enables you to make purchases with your coins at participating retailers. Gemini is impressive in both its quality and breadth of features.
Apart from its many documented trading tools and charts, Gemini is also one of the safest crypto brokers with direct oversight from both the New York State Department of Financial Services (NYSDFS) and the UK’s Financial Conduct Authority (FCA). It also has many built-in security features like a multisignature digital signature scheme (multisig) and hardware security keys to secure your account alongside other protocols.
Overall, you would be hard-pressed to find a more well rounded exchange that does as many things well as Gemini.
How to buy and sell cryptocurrency with Gemini
How to buy crypto on Gemini
- Once you are logged into your trading platform click on “Buy” and “Once” – both of which are part of a coin type pull-down menu
- Type in the quantity of crypto you wish to buy
- Click “Review order”
- Click “Place order” and you will see a “Success!” image along with your transaction details
How to sell crypto on Gemini
- Select the coin type from its pull-down menu
- Select the “Sell” tab
- Select the order type and quantity of your order
- Review your order details and press “Sell” to confirm your order
Gemini is owned by its co-founders Cameron and Tyler Winklevoss and was launched in 2014.
Gemini makes money through a multitude of fixed fees, including maker/taker fees which start at 0.25%-0.35%, a transaction fee – usually $0.99-$2.99, a platform connectivity fee of 0.50%, and debit/credit card deposit fees of 3.50%.
Depending on the laws of your country of residence, you may have to pay taxes on your Gemini cryptocurrency profits. We recommend checking with the local legislation to see the profit limits for which you don’t have to pay taxes.
If you want to close your Gemini account navigate to your Profile’s Settings Page, Click on the link labeled “Close your Gemini account” at the bottom of the page under Account Closure. To complete the account closure type in all caps “CLOSE”.
At this time Gemini does not offer leveraged trading and you cannot short sell.
If you forgot your password, simply click on the “Sign In” link at the top of the homepage and click on “Reset your password” hyperlink. An email will be sent to your address to reset your password.
Please keep in mind that this will result in a temporary 24-hour hold on cryptocurrency withdrawals.
No, Gemini does not currently support Paypal deposits or withdrawals.
All your open trades are saved in real-time so you shouldn’t worry about losing funds even if the platform experiences technical difficulties.
Should Gemini cease operations altogether, It does carry self-insurance in the amount of $200 million from a related entity – Gemini Custody.
Yes, just navigate to Account Balance and Transaction History Page, click the drop-down arrow next to your account, and click the “Trade History” tab.
Yes, you can pay in all supported cryptocurrencies for free.
Yes, Gemini does currently offer a referral program whereby anyone you refer who buys or sells $100 or more of crypto within 30 days of creating their account, both of your accounts will then be credited $10 (or $10 USD equivalent of your domestic currency) worth of bitcoin.
Simply choose the ‘send’ option in your crypto wallet, fill in all the required data and provide an external Crypto wallet address (Gemini). You will then receive a QR code to complete the transaction.
No, Gemini fully complies with all KYC/AML procedures and in accordance to the rules, it requires full identification of all clients who set up a trading account using the platform.
Yes, Gemini offers both an online, hot wallet and an offline, cold storage wallet.
To transfer to an external wallet or exchange, navigate to the Withdrawal Page, select your currency from the dropdown menu, select the destination address, input the amount, and after reviewing your transfer details, select “Request Withdrawal”.
No, Gemini has never been hacked or compromised since its launch in 2014.