Gemini is a crypto exchange founded by the Winklevoss brothers in the United States in 2015. The platform is known for its focus on security and strict regulatory compliance. It enables trading of a wide range of cryptocurrencies and stable coins, including its own Gemini Dollar, and also supports deposits in digital and fiat currencies. In 2019, it won the Markets Choice Awards in the Best Crypto Exchange category. But let us have a closer look on the platform in our Gemini review
The exchange has a significant trading volume (up to $30 million per day), which attracts both beginners and professional traders, as well as institutional investors. Thanks to its reputation and compliance with security standards, Gemini enjoys well-deserved popularity in the cryptocurrency environment. The platform is most popular in the United States – almost 70% of all transactions are made by users from this country, which is confirmed by many positive Gemini reviews online.
For beginners, the Market service with a simple interface and a set of necessary tools for buying/selling is suitable. For professional traders, ActiveTrader is designed for them, where more advanced analytical tools, various orders and other features are available.
Article content – Gemini:
Gemini – trading interface & support
The trading interface here is very simple and quite informative. On it we can see the basic information about the selected pair, such as: price, price change for the day, trading volume and chart. The chart is purely informative and it is impossible to make a qualitative analysis on it, as there are no graphical elements and indicators. There are 15 trading pairs on the exchange, including pairs with the American dollar. The trading volume varies from $5 million to $30 million per day. Gemini fees for trading operations are charged at the rate of 0.25% per transaction. There are 4 types of orders here: Market, Limit, Maker-or-Cancel and Immediate-or-Cancel. Registration process is quite simple and a standard one.
The support service works round the clock; the language of communication is English. There are several channels for communication. For specific queries, it is better to write to [email protected] or to the form on the website. For standard questions, there is also a Support Centre tab, where you can search for recommendations, advice and useful information on your request.
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Security
It is registered in the United States (NMLS #1518126) and regulated by the New York State Department of Financial Services (NYSDFS). It is also secure on the technical side. The developers use many different degrees of protection, such as multi-signature, cold storage of funds, software of the highest quality standard, etc. Verification is mandatory on the exchange, without it any actions will be unavailable, it is also mandatory to enable two-factor authentication. Gemini is considered to be the safest exchange, or at least one of them.
Deposit and withdrawal
You can deposit your account on the exchange using dollars or cryptocurrencies, to deposit dollars you need to fill in your bank details. Withdrawal is also available in fiat and cryptocurrency. There are no fees for deposit and withdrawal, but there may be a commission from the bank, in the case of dollars, or a fee to miners for confirmation in the network, in the case of cryptocurrencies.
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Cryptocurrencies and commissions on Gemini
The platform supports trading in all major cryptocurrency assets. Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), as well as other less expensive types of crypto, and staples are available. You can buy cryptocurrency, sell it for US dollars, or exchange one crypto for another. A total of 100+ currency pairs is available.
Gemini fees for exchange transactions depends on your trading volume over the previous 30 days. At minimum volume (up to $1,000), the standard commission is 0.35%, i.e. $3.5. At the maximum (from $500 million and above) – 0.03%. There is also a fee for storage of funds as a percentage of the total value of assets, as well as for convenience – 0.5% for each transaction.
Gemini Dollar Coin
A token, or rather a stablecoin, offered by a cryptocurrency exchange is called Gemini Dollar (GUSD). It represents a stable digital currency pegged to the US dollar at a 1:1 ratio. This means that the number of Staples in circulation corresponds to the same amount in the exchange’s USD accounts. Gemini Dollar is based on the Ethereum blockchain, which ensures transparency and provides an opportunity to verify turnover and reserves.
It can be used for fast and convenient trading on the exchange itself, as well as for buying and selling on other 40+ platforms where it is supported: in particular on Coinbase, Uniswap, Coinstore, Bitstamp. The record price is 1.3435 USD.
Conclusion
It is a safe and fully regulated exchange that has a lot of advantages. Still, the owners are trying to make the cryptocurrency market more civilized and protected from all kinds of manipulations and scams.
We hope our Gemini review was informative for you and this platform will welcome you soon as a new user.
Our platform rating
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