Review: Gemini cryptocurrency exchange

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

  • Great for its tightly-regulated trading
  • Higher fees than other exchanges

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8

Fiat currencies

129

Cryptocurrencies

Details

Product Name Gemini Cryptocurrency Exchange
Fiat Currencies USD, SGD, HKD, GBP, EUR, CAD, AUD, COP
Cryptocurrencies BTC, ETH, XRP, ADA, SOL, DOT, DAI, LTC, UNI, XLM & 120 more
Deposit Methods Bank transfer (ACH)
Debit card
Wire transfer
Trading Fee Order amount below SGD 250: SGD 1.50 - SGD 4
Order amount over SGD 250: 1.49%
Convenience fee: 0.50%
Deposit Fees Cryptocurrency: None
Wire transfer: None
Bank transfer (ACH): None, bank fees may apply
Debit card transfer: 3.49%
Withdrawal Fees Cryptocurrency: None for first 10 withdrawals of each month
Other: None for first 10 withdrawals of each month
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

Which fiat and cryptocurrencies are supported?

  • Supported fiat currencies: USD, SGD, HKD, GBP, EUR, CAD, AUD, COP
  • Supported cryptocurrencies: Approximately 129 cryptocurrencies

Which payment methods are accepted?

  • Bank transfer (ACH)
  • Debit card
  • Wire transfer

What’s it like to use Gemini?

Gemini fees and limits

Platform trading fees

The fees below are accurate as of October 28, 2021.

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 (SGD)Fee (SGD)
All0.5% convenience fee
≤ $15.00$1.50
$15 to ≤ $35$2
$35 to ≤ $70$2.75
$70 to ≤ $250$4
> $2501.49%

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 Taker feeMaker feeAuction fee
0 to $499,999 USD0.35%0.25%0.25%
≥ $500,000 USD0.25%0.15%0.20%
≥ $2,500,000 USD0.25%0.15%0.10%
≥ $5,000,000 USD0.15%0.10%0.10%
≥ $10,000,0000 USD0.15%0.10%0.00%
≥ $15,000,000 USD0.10%0.00%0.00%

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).

As for crypto withdrawals, Gemini charges nominal fees that are broadly equivalent to cryptocurrency network fees. 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

Within minutes

FAST transfers via StraitsX (previously known as Xfers) is almost instantaneous. Each transaction is capped at 20,000 SGD.

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

Withdrawals

Clock icon for transfer speed

Up to 1 day

FAST transfer can take up to one business day to clear. Do note that you’re allowed up to 20,000 SGD per withdrawal.

Is Gemini safe to use?

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 develop industry-leading security practices.

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

  • Regulation. Gemini dubs itself “the regulated cryptocurrency exchange”. It’s one of the very few cryptocurrency exchanges with a New York BitLicense, which is 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 SOC 1 Type 1 and SOC 2 Type 2 examinations, 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.

Is Gemini regulated in Singapore?

Gemini’s Singapore unit, operated by Gemini Digital Payments Pte Ltd, is currently exempted from holding a licence for the provision of digital payment token services under the transitional arrangements in the Monetary Authority of Singapore (MAS) Payment Services Act.

Through Gemini Digital Payments, customers in Singapore are allowed to trade, exchange and store cryptocurrencies with fiat currencies, including Singapore Dollars.

How do I create an account at Gemini?

To get started with Gemini:

  1. Visit the Gemini homepage and click Get Started. Select your account type — personal or business — and enter your country on the next screen.
  2. Once you’ve selected your country, enter your name, email and chosen password.
  3. After signing up, you’ll receive an email. Follow the prompts in it to verify your email address.
  4. Once you verify your email, you’ll need to verify your identity before you can start trading. This involves uploading some documents — such as a valid state-issued ID or driver’s license — to the Gemini site.
  5. Once your identity has been verified you can link your debit card or bank account and buy or deposit cryptocurrency.

What else do I need to know about Gemini?

Gemini was founded by the Winklevoss twins, who 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.

It’s a New York trust company and is regulated by the New York State Department of Financial Services (NYSDFS).

In a nutshell

Pros

  • Highly regulated and secure. Gemini is one of the most tightly-regulated cryptocurrency exchanges in the world.
  • Fee-free withdrawals. Users are given 10 complimentary withdrawals (no volume cap) for cryptocurrencies per month.
  • 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

  • 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.
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Frequently asked questions

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