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Review: Gemini cryptocurrency exchange

Sam Bourgi
Sam Bourgi
Last updated:  

Gemini prides itself on being “the regulated cryptocurrency exchange.” What does that mean for you?

  • Great for its tightly-regulated trading
  • Not so great coin selection

1

Fiat currencies

5

Cryptocurrencies

Details

Product Name Gemini Cryptocurrency Exchange
Fiat Currencies USD
Cryptocurrencies BTC, ETH, BCH, LTC, ZEC
Deposit Methods Cryptocurrency
Wire transfer
Bank transfer (USA only)
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.

Learn more about Gemini

Fiat & cryptocurrencies
Payment methods
Security
Fees & limits
How to sign up
Pros & cons
FAQs
Compare exchanges

Which fiat and cryptocurrencies are supported?

  • Supported fiat currencies: USD
  • Supported cryptocurrencies: 5 cryptocurrencies
  • BTC
  • ETH
  • BCH
  • LTC
  • ZEC

Which payment methods are accepted?

  • Cryptocurrency
  • Wire transfer
  • Bank transfer (USA only)

What’s it like to use Gemini?

Getting started

Get started, and take in the clean website design, on the Gemini home page.

Buy and sell

Find prices, and a brief history of the available coins, on the Gemini coin pages.

Gemini Dollar

Use Gemini Dollars, 1:1 backed USD-pegged stablecoins for the Ethereum blockchain.

Gemini customer service

Head to the Gemini help centre for assistance if needed.

Create an account

To get started, select your account type and follow the prompts.

‹ ›

Gemini fees and limits

Platform trading fees

The fees below are accurate as of August 26, 2019. All dollar figures are listed in US dollars.

Direct buy and sell fees
These transaction fees apply when placing a cryptocurrency buy or sell order through the Gemini website or mobile app. A 0.5% “convenience fee” applies to all transactions.

Order size Fee
All 0.5% spread
≤ $10 $0.99
$10 to ≤ $25 $1.49
$25 to ≤ $50 $1.99
$50 to ≤ $200 $2.99
> $200 1.49%

Marketplace ActiveTrader fees

These transaction fees apply when buying or selling from the Gemini continuous order books, or the Gemini auction, via the ActiveTrader interface.
You can switch the ActiveTrader interface on or off in your account settings. The direct buy and sell fees listed above will apply when ActiveTrader is switched off.

30 day trading volume Maker fee Taker fee Auction fee
0 to $499,999 0.25% 0.35% 0.25%
≥ $500,000 0.15% 0.25% 0.20%
≥ $2,500,000 0.15% 0.25% 0.1%
≥ $5,000,000 0.1% 0.15% 0.1%
≥ $10,000,0000 0.1% 0.15% 0%
≥ $15,000,000 0% 0.1% 0%

Deposit and withdrawal fees

Gemini does not charge any deposit fees, but there may still be fees associated with bank deposits (USA only) and wire transfers (available both inside and outside the USA). Forex fees may also apply when transferring currencies other than USD.

Gemini charges nominal fees, broadly equivalent to cryptocurrency network fees, for crypto withdrawals. It does not charge any fees for bank or wire withdrawals, but there may still be fees charged by banks involved in the procedure.

Other fees and when they apply

How fast will my funds be available?

Deposits

Clock icon for transfer speed

Up to 5 days

Wire transfers may take up to 3 business days, or longer depending on the situation.

Bank transfers can take up to 5 business days to clear.

Cryptocurrency transfers

Clock icon for transfer speed

within minutes

Cryptocurrency transfers can be completed within minutes, depending on the cryptocurrency.

Withdrawals

Clock icon for transfer speed

Up to 5 days

Wire transfers withdrawals can take several business days to clear, depending on the banks involved.

Bank transfer withdrawals can also take several days to go through, depending on the situation

Is Gemini safe to use?

  • Regulation. Gemini dubs itself “the regulated cryptocurrency exchange.” It’s one of very few cryptocurrency exchanges with a New York BitLicense, regulated by the New York Department of Financial Services. This is one of the world’s strictest bodies of cryptocurrency exchange regulations, encompassing a robust set of AML/KYC, market surveillance, capitalisation and security requirements.
  • Verification process. Only verified users can trade on Gemini. Verification requires providing some personal details, and documentation to support it.
  • Security features. Gemini was the first exchange to pass a SOC 2 Type 1 examination, demonstrating a high level of security compliance in protecting user data and funds. It also uses a proprietary cold storage system, and has insurance for assets in custody.

Gemini may be one of the world’s highest security cryptocurrency exchanges. Rather than simply following security best practices, Gemini leads them by working with Nasdaq, regulators and other institutions to create these practices.

Gemini itself has never been hacked, although some Gemini users have been hacked through SIM swapping.

How do I create an account at Gemini?

Back to top

What else do I need to know about Gemini?

Gemini was founded by the Winklevoss twins, who successfully sued Mark Zuckerburg for $65 million – a story popularised by the film The Social Network.

The Winklevii, as they have previously said they don’t mind being called, have been closely involved with Bitcoin and cryptocurrencies since at least 2013.

Gemini was founded in 2014 and is their most prominent cryptocurrency project to date. It’s regularly included in the ranks of the world’s top cryptocurrency exchanges and works closely with regulators and traditional financial institutions.

In a nutshell

Pros

  • Highly regulated. Gemini is one of the most tightly-regulated cryptocurrency exchanges in the world.
  • High security. Gemini is actively developing industry-leading security practices.
  • Multiple trade types. Between direct buys, the ActiveTrader interface, the auction and fully electronic block trades, Gemini offers many options.
  • Deep liquidity. Gemini has highly liquid order books.

Cons

  • Limited coin selection. Gemini only offers 5 cryptocurrencies.
  • Higher fees than other exchanges. Fees can be as low as 0% in some cases, but can also run considerably higher than other exchanges for equivalent trade types.
  • Limited fiat deposit options. There are limited fiat deposit options, and transfers may be slow and expensive, especially for currencies other than USD.

Compare Gemini against other exchanges

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
Kraken Cryptocurrency Exchange
Kraken Cryptocurrency Exchange
Electronic Funds Transfer
Bank transfer (SEPA)
Wire transfer
USD, EUR, GBP, JPY, CAD
BTC, ETH, XRP, BCH, EOS, LTC, ADA, XLM, DASH, XMR, USDT, ETC, QTUM, ZEC, REP, DOGE, GNO, MLN, ATOM, XTZ, SC
Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.

UK residents: In addition to normal crypto trading, Kraken offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Go to site
View details
eToro USA Cryptocurrency Trading
eToro USA Cryptocurrency Trading
Credit card
Debit card
PayPal
Wire transfer
Local Online Banking
EUR, GBP, NZD, USD, AUD, CAD, CHF, NOK, ZAR, JPY, SEK, TRY, HUF, PLN
BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM, EOS, NEO, TRX, ZEC, XTZ
Disclaimer: Highly volatile investment product. Your capital is at risk. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. US users have limited access to some of eToro’s features.

Copy the trades of leading cryptocurrency investors on this unique social investment platform. Non-US residents can read our review of eToro's global site here.
Go to site
View details
Binance.US Cryptocurrency Exchange
Binance.US Cryptocurrency Exchange
Bank transfer (ACH)
Bank transfer
Cryptocurrency
Wire transfer
USD
BTC, ETH, XRP, BCH, LTC, USDT, BNB, ADA
Get a US$15 bonus when you trade US$100 or more of any supported crypto. T&Cs apply.
Trade with USD on Binance.US, the American dollar onramp of the world’s largest cryptocurrency exchange. Non-US residents can read our review of Binance's main exchange here.
Go to site
View details

Compare up to 4 providers

Frequently asked questions

Disclaimer: 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.

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6 Comments

  1. Default Gravatar
    Don
    September 25, 2018

    I have a Coinbase account now. Because I am a Canadian resident, they won’t allow me to use my Wells Fargo bank for deposits.(U.S.) I have been dealing in u.s. Funds. Can I sign up with Gemini and continue to use my U.S. Bank? Also if I withdraw funds, can I transfer back to my U.S. Bank?

    Reply
    • AvatarStaff
      Joshua
      October 1, 2018

      Hi Don,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Gemini accepts US dollars via Automated Clearing House (ACH) deposits or wire transfers. For this reason, you can use your US bank account to deposit money to your account given you use the aforementioned methods.

      As of now, you can only withdraw crpyto coins from Gemini and not fiat money.

      For more information, you may want to directly get in touch with Gemini’s customer support.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

      Reply
  2. Default Gravatar
    Norman
    December 21, 2017

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

    Reply
    • AvatarStaff
      Joanne
      December 22, 2017

      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

      Reply
  3. Default Gravatar
    Kim
    December 8, 2017

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

    Reply
    • AvatarStaff
      Rench
      December 9, 2017

      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

      Reply
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