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Gemini

Gemini exchange review
What does Gemini exchange offer? What are Gemini fees like? How big is Gemini crypto selection and what else does Gemini offer? This Gemini exchange review will answer these and many more questions we feel are important.


Certified

Gemini is ISO 27001 and SOC 2 Type 2 certified


Gemini offer
Sign upCertifiedGemini is ISO 27001 and SOC 2 Type 2 certified

ratings
  clarity
34/100
  simplicity
63/100
  selection
43/100
  payments
71/100
  fees
46/100
  features
70/100
  trust
76/100
  app
71/100
  design
77/100
  Overall
61/100


Exchange name
Gemini
Launched
2014
Cryptos
70+
Accounts
13 million
HQ
New York City, New York, USA
Phone
Not available
Website
gemini.com
Licenses
US
Number of employees
1000+
Exchange card
yes
Maximum leverage
0x
Payment options
Crypto, Fiat
Fiat deposit
yes
Fiat withdrawal
yes
Instant buy with fiat
yes
Card payment
yes
Paypal payment
no
SEPA payment
no
SWIFT payment
no
Apple Pay
yes
Google Pay
yes
Fees
Gemini fees structure is complicated. But withdrawal and deposit fees are either free (ACH transfers) or cost 3.49% plus trading fees (card) or based on your bank.
Fiat deposit/withdrawal fees
Free or up to 3.49%+ / Free or up to 3.49%+
Instant buy fees
Free or up to 3.49%+
Transaction fees (maker/taker)
0.25% / 0.35 %
Fee discounts
Unknown
Crypto withdrawal fees
Gemini crypto withdrawal fees are dynamic.
Bitcoin: 0.0001 BTC
Ethereum: 0 ETH
Tether: 0 USDT
Binance Coin: 0 BNB
Cardano: 0 ADA
Solana: 0.005 SOL
Ripple: 0 XRP
Polkadot: 0 DOT
Dogecoin: 4 DOGE
Shiba Inu: 0 SHIB
Stellar: 0 XLM
Litecoin: 0.001 LTC
KYC info
KYC required.
KYC details
Before you can start trading in Gemini, you need to verify your identity and go through their KYC process.
KYC requirement level
required
Users accepted without KYC?
no
Spot Trading
yes
Margin Trading
no
Futures Trading
yes
Trading bots offered
no
Maximum offered leverage
0x
Market order
yes
Limit order
yes
Stop limit order
yes
Stop market order
yes
Trailing Stop order
no
Post Only order
no
Strategy order
no
Time-in-force order
no
Iceberg order
no
Conditional order
no
Crypto staking
yes
Liquidity mining
no
Learn to Earn
no
Lotteries
no
Crypto lending
yes
Launchpools
no
Cloudmining
no
US traders accepted
yes
UK traders accepted
yes
Japanese traders accepted
no
Aussie traders accepted
yes
Allowed countries
Argentina, Australia, Austria, Bahamas, Belgium, Bermuda, Bhutan, Brazil, British Virgin Islands, Bulgaria, Canada, Cayman Islands, Chile, Colombia, Croatia, Czech Republic, Cyprus, Denmark, Egypt, El Salvador, Finland, Gibraltar, Greece, Guernsey, Hong Kong, Hungary, Iceland, India, Israel, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Myanmar, Netherlands, New Zealand, Nigeria, Norway, Panama, Peru, Philippines, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, South Africa, South Korea, Spain, St. Lucia, St. Vincent & Grenadine, Sweden, Switzerland, Taiwan, Turkey, United Kingdom, United States, Uruguay, Vietnam
Restricted countries
Bonus
Certified - Gemini is ISO 27001 and SOC 2 Type 2 certified

Gemini exchange review

Gemini is a popular cryptocurrency exchange offering lots of features to both beginners and advanced traders alike. Gemini platform is accessible for traders around the world, and also US traders are accepted in this platform.

Gemini exchange safety and regulation

Gemini is a crypto exchange that was established in the USA back in 2014. Gemini is a New York Trust Company and it is regulated by the New York State Deparment of Financial Services (NYDFS).

Is Gemini exchange safe to use?

Gemini is a secure and transparent exchange, which goes through regular audited by the NYDFS.

As such, it is a very popular choice among investors looking or safe trading environment.

In addition to its other security feature, Gemini recently became SOC 2-certified, which is a voluntary compliance standard for service organizations.

SOC 2 shows that “an independent accounting and auditing firm has reviewed and examined an organization's control objectives and activities, and tested those controls to ensure that they are operating effectively. “ (source)

Gemini user deposits are insured with FDIC insurance for up to $250 000.

Gemini account security options

Gemini offers its users high standard security features such as:

  • Two-factor authentication (2FA)
  • Wallet address whitelisting
  • Device approvals

Countries where Gemini exchange is available

Gemini is available in more than 60 countries, including 50 U.S. States.

You can see the list of accepted countries below:

Argentina
Australia
Austria
Bahamas
Belgium
Bermuda
Bhutan
Brazil
British Virgin Islands
Bulgaria
Canada
Cayman Islands
Chile
Colombia
Croatia
Czech Republic
Cyprus
Denmark
Egypt
El Salvador
Finland
Gibraltar
Greece
Guernsey
Hong Kong
Hungary
Iceland
India
Israel
Italy
Jersey
Latvia
Liechtenstein
Lithuania
Luxembourg
Myanmar
Netherlands
New Zealand
Nigeria
Norway
Panama
Peru
Philippines
Poland
Portugal
Romania
Singapore
Slovakia
Slovenia
South Africa
South Korea
Spain
St. Lucia
St. Vincent & Grenadine
Sweden
Switzerland
Taiwan
Turkey
United Kingdom
United States
Uruguay
Vietnam

Countries where Gemini is banned

Gemini does not accept users from countries not in the list above.

Gemini exchange details

Year established: 2014
CEO: Tyler Winklevoss
Number of Cryptos: ~70
Headquarters: New York City, New York, USA
Official website:gemini.com
Number of accounts: 13 million

How to open Gemini account?

How to create Gemini account?

Gemini account creation process is straight forward.

  1. Click here to go straight to the registration page
  2. Fill in the name, email, and password fields
  3. Confirm your email
  4. Set up 2FA
  5. Go through KYC

And you’re ready to start trading cryptos.

Deposits & withdrawals on Gemini platform

You can deposit to and withdraw from Gemini exchange using both cryptos and fiat money.

Fiat deposits and withdrawals can be made using your bank account or debit card.

Here are some details about Gemini deposits and withdrawals:


Deposits
Withdrawals
Instant Purchase
Withdrawal Limits
Withdrawal Minimums
Fees
Settlement time
ACH Transfer
Yes
Yes
Yes
$100,000 daily
None
Free
6 business days
Wire Transfer
Yes
Yes
No
Unlimited
$50
Determined by your bank
1-3 business days
Debit Card
No
No
Yes
N/A
N/A
3.49% + Trading Fees
24h

Does Gemini exchange have a depost and withdrawal limit?

Gemini limits are $5,000/day and $30,000/month for deposits and $100,000/day for withdrawals using ACH.

 The maximum limit for debit card purchases is $1,000/day.

Gemini minimum withdrawal limits for fiat currencies using bank transfer are as follows:

  • USD - $50
  • AUD - $150
  • CAD - $135
  • EUR - €95
  • GBP - £20
  • HKD - $785

How to deposit on Gemini?

Funding your Gemini account is easy, but it depends on which payment options you choose to use.

  • First click “Account” and choose “Transfer” and then “Deposit”.
  • Now choose the currency you want to deposit and the payment method you want to use.
  • Click Continue
  • Now just follow the steps you are presented for the specific payment method.

The main payment methods available are the following:

  1. Wire and Bank Transfers
  2. ACH Transfers
  3. Apple Pay and Google Pay
  4. Debit Card Purchases
  5. Crypto Deposits

How to withdraw from Gemini?

Gemini withdrawals are pretty straight forward as well.

  1. First click “Account” and choose “Transfer” and then “Withdraw”.
  2. Now choose the currency you want to withdraw and the payment method you want to use.
  3. Click Continue
  4. And now, just as in case of deposits, just follow the steps you are presented for the specific payment method.

Gemini Fees

When most other crypto exchanges use Maker/Taker fee model, Gemini’s fee structure is different (sort of).

And Gemini fees are definitely not the lowest. Especially when it comes to smaller transactions.

Gemini fee for orders below $200 cost you minimum of $0.99.

This means that in case of a $10 order you pay roughly 10% fee.

For traders bigger than $50, but less than $200, the fee is $2.99.

For orders over $200 Gemini fee is 1.49%, which is still high.

And in addition to Gemini fees being rather high, we feel they are also somewhat complicated.

Of course, you can also use Gemini’s ActiveTrader platform where the Taker/Maker fee model is being used.

And then Gemini fees are not the worst.

30-Day Trading Volume (USD)
Taker Fee
Maker Fee
Auction Fee
0
0.35%
0.25%
0.25%
≥ $500,000
0.25%
0.15%
0.20%
≥ $2,500,000
0.25%
0.15%
0.10%
≥ $5,000,000
0.15%
0.10%
0.10%
≥ $10,000,000
0.15%
0.10%
0.00%
≥ $15,000,000
0.10%
0.00%
0.00%
≥ $50,000,000
0.075%
0.00%
0.00%
≥ $100,000,000
0.05%
0.00%
0.00%
≥ $250,000,000
0.04%
0.00%
0.00%
≥ $500,000,000
0.03%
0.00%
0.00%

Deposit Fees

Deposit fees depends on how you make a deposit.

Crypto deposits are free, as in other exchanges.Wire transfer deposits are free as well.

But depositing using your credit card with cost you 3.49%.

Withdrawal Fees

Gemini withdrawal fees depend on different factor, but as far as we understand, the first 10 withdrawals each month are free. At least when it comes to Gemini fiat withdrawals.

Crypto withdrawals fees depend on the exact coin.

For example:

  • Bitcoin - 0.0001 BTC
  • Bitcoin Cash - 0.001 BCH
  • Bonfida - 0.5 FIDA
  • Dogecoin - 4 DOGE
  • Filecoin- 0.001 FIL
  • Gemini Dollar - Free
  • Litecoin - 0.001 LTC
  • Orca - 0.3 ORCA
  • Raydium - 0.1 RAY
  • Saber - 1 SBR
  • Solana - 0.005 SOL
  • Stepn - 0.7 GMT
  • Tezos - 0.4 XTZ
  • ZCash - 0.001 ZEC
  • Zebec - 1 ZBC

In case of other cryptocurrencies the fees depend on the exact gas fees and they change all the time.

Trading Fees

Gemini trading fees depend on a number of variables, but mainly based on where you are trading. What are the options?

  • Gemini website
  • Gemini mobile app
  • Gemini API
  • Gemini ActiveTrader platform

Why Gemini has made it all so complicated, that’s anyone’s guess. Trading fee on website or using Gemini app, always costs you +0.5% convenience fee. That’s in addition to the actual fee, which, as mentioned above, is up to 10% for smaller traders.

For trades above $200, it’s 1.49%.Trading low amounts on Gemini ActiveTrader platform cost considerably less, as the base (highest) fee there is 0.35%

Trading on Gemini platform

Gemini offers lower minimum traded amounts than many other cryptocurrency exchanges. For example the minimum trade for BTC is 0.00001 BTC, so basically less than a dollar. Gemini trading platform is very intuitive and should be perfect for even the very beginners. But that’s also where the highest trading fees are taken.Advanced users can move over to ActiveTrader platform with more features, and lower fees.

Gemini KYC

Before you can start trading in Gemini, you need to verify your identity and go through their KYC process.

Do you have to verify your account on Gemini?

Yes. Gemini is a regulated exchange and Gemini is required to ask you to go through the KYC process to comply with Anti-Money Laundering regulations and Bank Secrecy Act.

How to verify your Gemini account?

KYC process is annoying, but simple. You just need to share (and verify) some personal details with Gemini.

  • Your full name
  • Your address
  • Proof of address
  • Copy of ID card or passport
  • SSN or SIN number

Gemini app

Gemini has a good mobile app for its users, which can be used to buy and sell cryptos. Gemini mobile app is available for both iOS and Android devices.

Gemini Earn

Gemini doesn’t have the biggest EARN section, but it does offer users to earn interest from their idle cryptos. Interest rates vary.

Gemini Pay

In our opinion Gemini Pay might be one of the best features of this exchange.Gemini Pay allows you to pay for goods and services using your cryptocurrencies in more than 30 000 shops in the U.S.

Gemini customer support

Gemini customer support can be contacted using the live chat or support page.The live chat also features a virtual chatbot which tries to help you without the need for human intervention.

Pros and cons of using Gemini

PROS
CONS
Low minimum trade amount
Fairly small crypto selection
Easy-to-use mobile app
Complicated fee structure
Simple and advance trading platforms
High fees for smaller trades
Available in the US
No margin trades
Hot Wallet insurance
No short selling
Strong security

Gemini Pay, that can be used spend cryptos in shops

Why Choose Gemini – who is it for?

Gemini is a simple, very beginner-friendly platform, which newbies will find very easy to use. So in one hand it’s definitely good for beginners, independent of the trading fees.

At the same time Gemini has lots of advanced features also for professionals. By the end of the day, based on the options available for U.S. based traders, we feel Gemini is mainly meant for Americans, who want to buy and sell cryptocurrencies in a fully regulated crypto exchange.

Using Gemini platform – is Gemini simple to use?

Gemini is a good choice for Americans, both beginners and advanced traders. Gemini is a secure cryptocurrency exchange which offers its users the option to use their cryptos in more than 30 000 retail locations around the U.S. using Gemini Pay. Gemini fee structure is more complicated than it should be. While being very expensive at first glance Gemini fees go lower to an acceptable level by just changing the platform. Because of the fee complexity, Gemini wouldn’t be our first choice. But at the same time, Gemini is an exchange that definitely works for some people.

Siim Einfeldt photo
Author: Siim Einfeldt
I became interested in cryptocurrencies only a bit more than two years ago. Since then I have been in investing in cryptos using different exchanges. And I also launched Cryptolorium.com when I started trading, just to share my crypto journey and my results.