Gemini digital asset exchange – review October 2019

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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 investors.

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.

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, 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 in most US states, except 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 3:00 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 4 to 5 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:

Type Limit Customer Amount
Deposit Daily Individual US$500
Deposit Daily Institution US$10,000
Deposit Monthly Individual US$15,000
Deposit Monthly Institution US$300,000
Withdrawal Daily Individual US$10,000
Withdrawal Daily Institution US$10,000
Withdrawal Monthly Individual US$100,000
Withdrawal Monthly Institution US$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 capitalised 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 investors
  • Dollar-to-crypto and crypto-to-crypto trading
  • Available in Singapore and 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

Compare Gemini against other exchanges

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
Bank transfer
Cryptocurrency
SGD
BTC, ETH, BNB, LTC, BCH, XRP
A platform for Singaporeans to buy cryptocurrency with SGD brought to you by Binance, one of the world's largest cryptocurrency exchanges.
Credit card
Debit card
PayPal
Wire transfer
Local Online Banking
EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK, ZAR, JPY, SEK, CNH, TRY, RUB, HUF, MXN, PLN
BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM, EOS, NEO, TRX, ZEC, BNB, 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.

Copy the trades of leading cryptocurrency investors on this unique social investment platform.
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.
Cash
Credit card
Debit card
Bank transfer (SEPA)
USD, EUR
BTC, ETH, ETC, BCH, LTC, ADA, QTUM, XRP
Buy coins like Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash with credit card.
Cryptocurrency
Bank transfer (SEPA)
SWIFT
Wire transfer
Faster Payments Service
GBP, EUR, USD, CAD, SGD, AUD, JPY, MXN
BTC, ETH, BCH, XRP, LTC, EOS, XLM, USDT, ADA, XMR, TRX and 50+ more
BC Bitcoin is a UK-based cryptocurrency brokerage that buys and sells more than 100 different cryptocurrencies.
Cryptocurrency
BTC, XBT, ADA, BCH, EOS, ETH, LTC, XRP
Disclaimer: Highly volatile investment product. Your capital is at risk.
Trade cryptocurrency derivatives with high liquidity for bitcoin spot and futures, and up to 100% leverage on margin trading.
Credit card
Cryptocurrency
USD
BTC, BCH, MIOTA, XVG, NEO, ADA, XRP, TRX, ONT, ZIL, GAS, LTC, ZRX, QTUM, ETH, ETC, VET, ICX & 300+ more
CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Cryptocurrency
Wire transfer
USD, EUR, GBP, JPY
BTC, BCH, BTG, IQ, TRX, GNT, AVT, DASH, DATA, EDO, EOS, ETC, ETH, LTC, MIOTA, NEO, OMG, QTUM, SAN, USDT, XMR, XRP, BAT, ZRX, FUN, MANA, SPANK, TNB, RLC, RCN, REP, ELF, AID, SNGLS, SNT, QASH, YOYO, MITH, ETP, XTZ, CNN, BOX, GOT, TKN, UTN
Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
Credit card
Debit card
USD, EUR, GBP
BTC, ETH, XRP, BCH, EOS, LTC, XLM, ETC & 5+ more
Get US$10 in free bitcoin when you buy US$100 or more of any crypto. T&Cs apply.
Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.
Bank transfer (ACH)
Credit card
Bank transfer (SEPA)
Faster Payments Service
USD, EUR, RUB, GBP & 125+ more
BTC, BTG, BCH, LTC, DASH, ETH, XRP, ZEC & 3+ more
Disclaimer: Highly volatile investment product. Your capital is at risk.
Use your USD, EUR or RUB to buy and sell cryptocurrency at competitive exchange rates and with high maximums for verified accounts.

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Customer support

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

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

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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