The webs most detailed Gemini review: Trusted since 2014, this New York regulated cryptocurrency exchange is one of the top names in the USA. Created by the legendary Winkelvoss twins, Gemini stood out from its early inception. However, we wanted to know if this is a good place to do business so we sent our expert to look behind all curtains to see what’s really going on here.
• Great for beginners
• New York regulated cryptocurrency exchange
• Very high security
• No advanced trading platform for experienced traders
• No real stop-loss order
• Poor customer support
In this section of our Gemini review we highlight 6 special features that deserves extra attention.
Gemini is a cryptocurrency exchange based in the USA that has been around for a while and it was created by the famous Winkelvoss twins. This is an American crypto trading platform and it has its office registered at 600 Third Avenue, 2nd Floor, New York. It is regulated by the New York State Department of Financial Services (NYSDFS) which gives it good credibility and security for traders in the US as well as other regions of the world.
This exchange is highly focused on security and is a firm believer in keeping your assets stored in a cold storage wallet. It has many use cases other than simply buying, selling, and trading coins.
It is a home for institutional custodians, staking for passive income, clearing solutions for cryptocurrencies, and Gemini also has its own dollar-pegged cryptocurrency called the Gemini dollar. It is a 1:1 USD-backed cryptocurrency and acts as a stablecoin.
Why use Gemini
As mentioned, there are several good use cases on this exchange and the main one being the simple trading platform for beginners. Experienced traders are welcome to try the ActiveTrader platform which has more utility such as a more complex charting package and more complex order selections. Gemini is also a home for staking coins which lets you earn passive income depending on your holding time and the cryptocurrency you choose.
If you are focusing on crypto investing with a longer investment horizon then Gemini might be a very good choice for you as well. Gemini has an insured hot wallet and institutional-grade cold storage wallet which basically means that your digital assets are in very good hands. Even if the worst-case scenario were to arise, your assets are completely backed up by an insurance fund.
Trading on Gemini
Gemini is great for beginner cryptocurrency traders who are looking for a basic platform to take their first step, or, for more experienced traders who are looking for something simple. The trading interface on Gemini is not full of the utility that you can see on most other crypto day trade platforms. Instead, this exchange has focused on something that works fine for all newcomers.
If you are a more experienced trader looking for a lot of tools and extra features to take your digital-asset trading to the next level, you might want to look elsewhere since Gemini is aimed at beginners who are looking for high safety and a beginner-friendly exchange.
Payment methods and limits
All basic payment methods are available such as credit cards, debit cards, and of course bank transfers. The limits for depositing are very low at 0.01$, and there is no limit on minimum or maximum withdrawal.
Things we don’t like
Given that this is a very well-recognized exchange from the United States I am very disappointed with the customer support system. I bet I will get answers through email as they suggest but that just doesn’t cut it anymore. If you want to be one of the greatest you need to have a great live chat with agents ready to help out. On this part, I would like to see improvements from Gemini.
Gemini Trading Fees
About the special features on Gemini
Gemini has great tools for new cryptocurrency traders including a very easy-to-use trade interface where you can make your own watchlist of coins, see the top movers of the day, and follow the most traded coins. You have the option to add a recurring purchase of any coin on the platform such as daily, weekly, twice per month, or a monthly investment. This tool is great for longer-term investors who truly believe in a project and wants to keep buying over time.
Digital Assets Insurance
This is a great feature on Gemini that increases the credibility of the exchange. When you store cryptocurrencies on Gemini, your digital assets are insured when you keep them in the hot wallet. This means that your funds are backed up and if they would ever be lost or stolen, Gemini will refund you.
Institutional-grade custody means increased security. How this works is very simple. Since Gemini is regulated by the state of New York, they are required to keep a certain amount of capital (digital assets) as insurance coverage. To be precise, they’ve got over $200 million as backup funds in their institutional custodian.
Pay With Cryptocurrencies
You can now pay with cryptocurrencies in retail stores and pretty much live off of your digital assets. All you need to do is download the app on the Gemini website and follow instructions, it’s super easy. They also have a cryptocurrency credit card if you prefer the real deal when you go out shopping.
Cryptopedia is the learning center on Gemini. Before you go crazy on crypto trading, take a few minutes and read up on some of their amazing guides. There is basic education on cryptocurrencies, security, trading & investing, and DeFi. I was happily surprised to see that this veteran crypto exchange made the effort to educate their traders, good job Gemini!
This is the high-performance platform for more active day traders who are looking for a stable and secure environment. Some features that are available are advanced charting, block trading, complex order types, and actions. If you like Gemini and want more than the basic interface you should definitely check this out.
Our own experience with Gemini
Gemini Funding Methods
|Max Withdrawal Limits||No limit|
|Min Withdrawal Limits||$100|
|Min Deposit Limits||$0.01|
Gemini Withdrawal Fee
Is Gemini safe to use?
Considering the regulation, institutional custody, cold storage wallet, and insured digital assets with backup funds, Gemini is a very safe platform to use. We also recommend keeping cryptocurrencies stored on the platform.
Is Gemini regulated?
Yes, Gemini is regulated by the New York State Department of Financial Services (NYSDFS).
Frequently asked questions
Read the most frequently asked questions about Gemini. Find answers without searching the web.
Yes, this veteran cryptocurrency exchange is one of the most trusted platforms in North America. We highly recommend that you use this exchange for buying, selling, and trading digital assets.
Both cryptocurrency exchanges have similar security features and similar trading platforms for their active traders. It all comes down to personal preference and perhaps the selection of altcoins available on the platform. The fees are also roughly the same.
If you use a credit card it's more or less instant, if you send a blockchain transaction you need to wait for the next coming block to be mined which has a different duration depending on the coin. For bank transfers, this can take up to one working day.
When you open and close a trade position you are obliged to pay a fee of at least 0.35% of your position size. This is how the exchange makes money. They also profit from deposit and withdrawal fees.
No, this cryptocurrency exchange has never been compromised. This is yet another reason to use this platform.