Gemini review - 2018 | Trading pairs, fees & more | finder.com

Gemini digital asset exchange – review July 2018

We know that everyone's situation is unique and we aim to help you find the right product for you. We may receive compensation when you visit our partners' sites or are approved for their products. You can read more about how we maintain editorial independence and how we make money here.

Gemini is a leading digital asset exchange that rewards high-volume traders with discounts and rebates.

Gemini is a fully regulated cryptocurrency exchange founded by the Winklevoss twins, two of the most prominent bitcoin traders.

Gemini was founded in 2015 on the premise that digital assets have the potential to radically reshape the financial system. Today, it’s one of the few bitcoin exchanges regulated by the New York State Department of Financial Services (NYSDFS).

Product Name Gemini Cryptocurrency Exchange
Fiat Currencies USD
Cryptocurrencies BTC, ETH
Deposit Methods Electronic Funds Transfer, Wire Transfer, Cryptocurrency
Trading Fee From 0-0.1%+
Deposit Fees Cryptocurrency: None
Wire transfer: None*
ACH: None * banks may charge transfer fee
Withdrawal Fees Cryptocurrency: Up to 0.002 BTC & 0.001 ETH
Other: None

Pros

  • Strong reputation backed by two leading investors
  • Dollar-to-crypto and crypto-to-crypto trading
  • Discounts and rebates for high-volume traders

Cons

  • Strict regulation comes at a cost – in this case it’s the loss of privacy
  • Limited selection of altcoins
  • Limited funding methods
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Exchanges like Gemini

What is Gemini?

Based in New York, Gemini is the first licensed bitcoin and Ethereum trust company to be registered with the NYSDFS. The futuristic platform allows users to deposit fiat currency and trade bitcoin and Ethereum across a variety of different order types.

It is also one of the only US exchanges that enables dollar-to-crypto and crypto-to-crypto trading.

Gemini also has a unique auction feature that provides all customers worldwide with an exact time and place to meet online, in order to trade at the same prices, regardless of time zone.

In addition to buying and selling cryptocurrency, Gemini users can store their tokens directly with the company in a highly secure offline wallet.

What cryptocurrencies can I buy, sell and trade?

Gemini supports the bitcoin and Ethereum tokens. These are the top two digital currencies by market capitalization.

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

  • BTC/USD
  • ETH/USD
  • ETH/BTC

Where is Gemini available?

Gemini is available across most US states, with the exception of Oregon, Arizona, Alaska, Hawaii and Wisconsin. The company website says trading in these regions will be available soon.

Globally, Gemini is available in the United Kingdom, Canada, Hong Kong, South Korea and Singapore.

What payment methods are supported?

Gemini only accepts US dollars via Automated Clearing House (ACH) deposits or wire transfers. No other funding method is accepted at this time.

Transaction fees and charges

Depositing USD into your Gemini account is completely free. The exchange does not charge for wire transfer or ACH deposits. However, wire transfers may be subject to bank fees.

Gemini does not charge fees for wire deposits or withdrawals anywhere in the world when trading in bitcoin and Ethereum.

Trading fees vary depending on your 30-day trade volume, and maximum fees were increased fourfold on April 2, 2018. There are six tiers of maker, taker and auction fees that range from 1% for light traders (less than 5 BTC or 50 ETH over the last 30 days) 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.

Transaction processing times

Wire transfers sent domestically before 3 p.m. ET are usually available in your account the same day or next business day.

Bank transfer deposits via ACH usually clear in about four to five business days.

Are there any deposit/withdrawal limits?

There are no limits on deposits or withdrawals for either individual or institutional accounts. Bank transfers via ACH have the following limits:

TypeLimitCustomerAmount
DepositDailyIndividual$500
DepositDailyInstitution$10,000
DepositMonthlyIndividual$15,000
DepositMonthlyInstitution$300,000
WithdrawalDailyIndividual$10,000
WithdrawalDailyInstitution$10,000
WithdrawalMonthlyIndividual$100,000
WithdrawalMonthlyInstitution$100,000

Is trading on Gemini secure?

Gemini is considered to be one of the most secure cryptocurrency exchanges on the market for US residents. Not only is it governed by the Bank Secrecy Act (BSA) and anti-money laundering (AML) rules, client deposits are eligible for Federal Deposit Insurance Corporation (FDIC) insurance coverage. The company is also heavily capitalized to protect the digital currency you store offline.

In the case of Gemini, you are sacrificing some privacy for better security. The account verification process requires that you provide sensitive details about yourself, such as your Social Security number (SSN) and photo ID.

Gemini accounts are also equipped with 2-factor authentication, which safeguards the login process.

If you decide to use Gemini’s wallet services, most of your digital assets will be stored offline in a disconnected, air-gapped storage system for added protection.

Get started

First, consider whether Gemini has the features and security that you need. To get started with Gemini, visit the website and select whether you want to open a personal account or institutional account. You can also register for Gemini’s Custody Service (i.e. wallet), where most tokens are secured offline in an air-gapped storage system that is physically disconnected from any networks.

Gemini cryptocurrency exchange

Pros and cons

Pros

  • Strong reputation backed by two leading traders
  • Dollar-to-crypto and crypto-to-crypto trading
  • Available in most US states
  • Discounts and rebates for high-volume traders

Cons

  • Strict regulation comes at a cost – in this case, it’s the loss of privacy
  • Limited selection of altcoins
  • Limited funding methods

Customer support

Gemini provides a self help-style customer support page through its Help Center, which has a detailed FAQ section broken down into the following categories: General, Trading, Developers and Security. If you have a specific question in mind, you can type it in the bottom tab labeled “Support”.

If the FAQ section doesn’t help, you can send an email to customer support by selecting “Submit a Request” on the top right-hand side of the page.

Frequently asked questions

Image source: Gemini

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

4 Responses

  1. Default Gravatar
    NormanDecember 21, 2017

    is there a limit to a wire transfer amount for deposits or withdrawals

    • finder Customer Care
      JoanneDecember 22, 2017Staff

      Hi Norman,

      Thank you for visiting finder, we are a financial comparison website and general information service.

      There are no limits on deposits or withdrawals for Individual or Institutional Accounts for Wire transfers. You may also get additional information via Gemini’s Zendesk support.

      Hope this helps,
      Joanne

  2. Default Gravatar
    KimDecember 8, 2017

    I have a question. I want to buy ripple, how I should do that?

    • finder Customer Care
      RenchDecember 9, 2017Staff

      Hi Kim,

      Thanks for your inquiry.

      You can buy Ripple as you would buy any other cryptocurrency: from an online exchange. Most require you to go through a verification process but once done you just buy the XRP as you would any other product online. Finally, transfer the coins to your wallet for safekeeping.

      You may know more info about Ripple on this page.

      Cheers,
      Rench

Go to site