Gemini Exchange Summary
Gemini has cemented a reputation in the crypto industry for having a good selection of tradable coins. We enjoyed using Gemini during testing and were able to achieve the highest ROI with them. The trading interface and fees were manageable enough to warrant a limited amount of time on screen to perform trades.
The ability to see listed coins and do some due diligence is hard to overstate. The reason behind this is that many investors don't know the full scope of available coins. These coins all serve a different purpose and operate in different ways. At the back end of good research investors can garner confidence and open up numerous new investing avenues.
Read more to learn more about Gemini.
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Product Rating Summary For Gemini
Gemini has nearly 30 cryptocurrencies, including its own currency called Gemini dollars (GUSD). You can trade and store cryptocurrencies with Gemini.
They have a partnership with Samsung, Gemini runs the Samsung Blockchain. Customers in the U.S. and Canada can connect their Samsung Blockchain Wallet to the Gemini app to trade currencies.
You’ll have to fund your account from a nominated bank account. It can’t be funded using a debit or credit card. The maximum daily funding limit is $500 USD and $15,000 USD monthly. The daily withdrawal limit is $100,000 USD.
If you have cryptocurrencies in another off-site wallet and want to fund your Gemini account using those currencies (crypto-to-crypto), you can do that as long as the currencies are BTC, ETH, BCH, LTC, or ZEC.
8.7/10
Pros and Cons of Gemini
Pros
Cons
The Story
How Do I Open An Account?
The account sign-up process for Gemini is a straightforward process. You will need to verify your identity using a form of government issued ID. You'll also need to connect your phone for two-factor authentication.
Lastly, you'll need to fund your new account. Gemini uses Plaid to connect with a nominated bank account. Once your application has been accepted and your account has been funded, you can start making your first trades! Get started with Gemini and earn $10 in free Bitcoin!
Is My Money Safe?
As long as Gemini have been in operation, Gemini has not been victim of cyber hacking. Likesome other exchanges, USD stored in your Gemini account is FDIC insured.
Gemini started with a “security-first” approach. They strengthen security and compliance by being compliant in SOC 1 Type 1, SOC 2 Type 1 and Type 2. All of that fancy wording means you’ll need to be ready and willing to give up some of your personal information such as email address, bank account details, phone number, and some form of ID when opening an account.
Is It Worth It?
Gemini is one of the most secure cryptocurrency exchanges to this day as of writing. Security the main selling point. It is a U.S. based company and the platform is easy to use.
However, before rushing into cryptocurrency investing, keep in mind that digital currencies are often volatile and carry high risk and should only allocate a small percentage of your total investing capital.
Gemini Features
Services | Cryptocurrency exchange, digital wallet, and USD Coin marketplace |
Supported Currencies |
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Fees |
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Supported Areas | US: All states except Hawaii International: Canada, Hong Kong, Singapore, South Korea, and the UK |
Minimum Deposit | None |
Trading Minimums |
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Transfer Methods And Fees |
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Deposit Fees |
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Customer Service Phone Number | 1-866-240-5113 |
Mobile App Availability | iOS and Android |
Promotions | $10 worth of free Bitcoin (with referral link and after buying or selling $100 or more) |
Are There Any Fees?
Yes, Gemini does charge commission rates for trading on its platform. There is a convenience fee of 0.50% above the market rate. To figure out the convenience fee amount, multiply 0.50% (1.005) by the amount of currency you want to buy.
There is also a flat transaction fee for orders placed via their web or mobile applications. The fee ranges from $0.99 to 1.49% of the total order value. This is why we recommend Gemini for high quantity investing.
Order Amount | Fee |
|---|---|
≤ $10.00 | $0.99 |
> $10.00 but ≤ $25.00 | $1.49 |
> $25.00 but ≤ $50.00 | $1.99 |
> $50.00 but ≤ $200.00 | $2.99 |
> $200.00 | 1.49% of order value |
Features
Cryptocurrency exchange, digital wallet, and USD Coin marketplace
Supported Currencies
25+
Fees
Convenience Fee: 0.50% above market rate
Transaction fee: $0.99 to 1.49%
Promotions
$10 worth of free Bitcoin (after buying or selling $100)
