Gemini Cryptocurrency Exchange Review

Gemini is one of the most well-known cryptocurrency exchanges on the market, mainly due to the fact that it is owned and operated by the Winklevoss Twins, who became household names due their depictions in The Social Network, which is a movie about the tumultuous early years of Facebook. The Winklevoss Twins announced that they had purchased 1% of all of the Bitcoin in circulation back in 2013, and it was soon after that they announced their intentions to build and launch a Bitcoin ETF product. While the U.S. Securities and Exchange Commission is still holding up the launch of a Bitcoin ETF, the Winklevoss Twins were able to launch their own Bitcoin exchange, known as Gemini, back in 2014. The most noteworthy aspect of this exchange is that the Winklevoss Twins have made sure to create a close relationship with regulators and go above and beyond when it comes to making sure that they’re able to build a trusted, reliable brand that can last for many years to come.

Gemini Cryptocurrency Overview

Gemini Cryptocurrency Logo

Gemini

  • One of the most trusted cryptocurrency exchanges
  • The only crypto exchange founded by the famous Winklevoss twins
  • Lightning-fast deposits in the USA
  • Working hard with regulators in the US for widespread cryptocurrency adoption

General Overview

The Benefits PRO's
  • Customers in the United States can make instant deposits from their bank accounts
  • This Exchange has never faced a serious security incident
  • Gemini works closely with regulators and has trusted individuals behind it
  • This exchange has very a reasonable fee structure
The Downside CON's
  • Strict identity verification process before users can trade
  • Despite its brand recognition, the trading volumes on this exchange are still relatively low

Funding Methods

Funding Method Deposit Withdraw Speed
Bank Account (ACH) Yes Yes Instant
Credit Card No No n/a
Debit Card No No n/a
Wire Transfer Yes Yes 1 business day

Sign-up Process

The sign-up process on the Gemini cryptocurrency exchange will look very familiar to anyone who has signed up for an exchange that complies with Know Your Customer and anti money-laundering regulations in the past. When you first click the “Register” button on the Gemini homepage, you will be presented with a page that asks for some basic information: your full name, email address, and a password. If you are representing an institution, you can click that option and be taken to an alternative registration process.

After filling out this initial form, you will receive an email with an activation code. Once your email address has been confirmed, you will then be asked to provide some additional information:

  • Date of birth
  • Occupation/profession
  • Social security number
  • Address

You will also have the option to connect your bank account to your Gemini account at this time; however, this part of the sign-up process can be deferred until later if you so desire.

The last step in the process of signing up for a Gemini account is to verify your identity. During this process you will need to share the typical documents such as a driver’s license and a utility bill that has your address on it.

What You Can Buy

When Gemini first launched, Bitcoin was the only crypto asset available for trade on the platform. Ethereum was eventually added as a second supported cryptocurrency network, and there are now a total of 27 trading pairs on the exchange, including the following digital assets:

  • Bitcoin
  • Ethereum
  • Chainlink
  • Basic Attention Token
  • Orchid
  • Litecoin
  • Bitcoin Cash
  • Zcash
  • Dai

Gemini Supported Applications

Gemini customers are able to access the trading platform from any of their devices. This includes access to the website via a laptop or desktop computer running any operating system. There is also a standalone mobile application available for both Android and iOS devices.

Fees

The fees paid for trading cryptocurrency on Gemini will depend on what version of the platform you’re interacting with on your device. For example, fees paid for trades made via the mobile application, which has a much simpler interface, are higher than trades made via the full trading platform accessed via a computer. For those of you who have used Coinbase in the past, this setup is similar to the cost differences between using Coinbase and Coinbase Pro. Whether you’re using the simple interface or the full trading platform, fees are structured on a tier basis, which is rather common in the crypto exchange industry.

For trades using the advanced platform, fees start at 0.35% and go all the way down to 0% depending on how much you are trading on a monthly basis.

Gemini Cryptocurrency Frequently Asked Questions

About the Author

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CryptoVantage Staff