Gemini Review – Pros, cons, fees and more

We will explore all the main features of the Gemini exchange in this verified and comprehensive review. We recommend reading the review in full (but you can skip ahead any time with the links below).

gemini crypto exchange

What is Gemini Crytpo Currency Exchange?

Founded in 2013, Gemini is a New York-based crypto exchange. It’s known for providing top-notch security to customers’ assets and was established in 2013 by the Winklevoss twins, Tyler and Cameron Winklevoss. Gemini was one of the first exchanges to offer access to Bitcoin futures trading. 
 
The Gemini exchange has become very popular among customers around the world. It has some attractive features such as:
 
  • hardware-based security for assets
  • Insurance for client’s funds
  • Cashback on purchases
But, do we recommend it?

What Service does Gemini offer?

Gemini exchange offers various products and services. It is suitable for both amateur and advanced users.

1. How many cryptocurrencies does Gemini offer in 2022?

Gemini cryptocurrency exchange offers 70+ cryptocurrencies for trading. Additionally, it provides access to Bitcoin Futures in a partnership with the Chicago Board Options Exchange.

2. Gemini Earn

Gemini Earn is a passive income option where a user can earn interest on idle crypto assets. Furthermore, the service is only currently provided to US citizens, Singapore, and Hong Kong

3. Gemini Stablecoin

The Gemini dollar is a stablecoin pegged to the US dollar and provides an easy option for trading.

4. Gemini credit card

Gemini credit card provides 3% cashback on every cryptocurrency transaction. Currently, the service is available for US customers only. There is no annual fee for the card. 

5. Gemini Custody

Gemini custody offers the ability to hold crypto assets in a cold environment. The funds held in Gemini custody are regularly audited and insured to provide extra security for the users.

6. Gemini Pay

Gemini Pay is a native app that provides the option to pay via cryptocurrencies at 30,000 retail locations across the USA

7. Gemini Active Trader

Gemini Active Trader provides access to some great features, including:
-charts
-real-time prices
It’s geared towards advanced users who trade frequently. Clients can monitor assets with regularly updated price feeds to identify trading opportunities.

8. Gemini clearing

Gemini clearing provides the ability to trade large orders, with Gemini acting as a third party. It is an easy option for institutional clients who need to handle large transactions. The trading can happen off the exchange anonymously while guaranteeing security

9. “Cryptopedia” Gemini Resource

Cryptopedia focuses on providing educational articles in the field of blockchain and cryptocurrencies. It publishes informational content for the benefit of its users. The platform also has a helpful support and FAQ section that answers frequent questions clients raise.
 
If you’re a newbie, Cryptopedia will be beneficial. It guides traders who may not be thoroughly familiar with the cryptocurrency world

10. Gemini “News section.”

For all breaking news stories in crypto, the “New section” is beneficial.

11. Gemini Frontier Fund

The Gemini Frontier fund and Opportunity Fund promote and provide funding ability to new and upcoming projects in the cryptocurrency sector. The exchange also plans to offset its carbon footprint through a new program known as Gemini Green.  

How long has Gemini been operational?

The exchange has been functional since 2013. It is one of the first exchanges that was duly registered and successfully regulated under the New York State Department of Financial Services (NYDFS). The exchange is known for its security features and takes extra measures such as providing insurance to clients’ funds. 

PROS

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1. Support for multiple fiat currencies such as USD, AUD, CAD, GBP, EUR, HKD and SGD
2. Wealth management option for institutional clients
3. Gemini custody account for world-class security
4. Passive income option through Gemini Earn
5. Attractive cashback through Gemini credit card
6. Regulated exchange
7. Available in more than 70 countries 

CONS

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1. Many products and services only available to US citizens
2. High fees

Comparison table Gemini vs CoinSpot vs Swyftx 

Let us compare Gemini with some other cryptocurrency exchanges such as CoinSpot and Swyftx

Exchange Feature

Gemini

CoinSpot

Swyftx

Coins Available

70+

330+

290+

Fees

Min of $0.99 to 1.49% of order value

0.1-1%

0.6%

Deposit fees

3.49% for debit card deposits

No fees on bank transfer, POLi, PayID, OSKO. For BPAY-0.9%, and for Cash-2.5%

Free

Withdrawal Fees

Yes. 10 free withdrawals in a month. 

Free

Free

Coin Staking

Not available

Not available

Available

Customer Service

Email

Live chat support

Live chat support

Demo feature

Not available

Not available

Available

Fiat currencies

Multiple fiat currencies supported including AUD

AUD

AUD, NZD

Gemini fees 2022

The fee structure of Gemini is on the higher side but the platform provides access to extra features and cutting edge security that compensates for such high fees. The Gemini exchange charges two kinds of fees for every transaction: a convenience fee of 0.5% and a variable transaction fee ranging from a minimum of $0.99 to as high as 1.49% of your order value exceeds $250.  

Gemini custody accounts are charged at 0.4% annually. 

Is Gemini a legitimate crypto exchange?

Yes. Gemini is a regulated entity in New York that has some of the strictest rules for registration. The exchange has also provided an insurance facility for its clients and keeps assets in cold storage and is one of the best platforms in terms of security features. 

Can I swap coins on Gemini?

Yes. You can swap cryptocurrencies directly on the Gemini exchange.

Simply select a cryptocurrency that you wish to swap such as Bitcoin, then select another token that you wish to swap such as Ethereum, and click on the convert button. The Bitcoin you hold will be instantly swapped into Ethereum and you can check it under the wallet section to confirm if the order has been processed successfully. 

Gemini app

The Gemini platform supports multiple devices and you can even use it via an app available for download on both Android as well as iOS. The application supports all functions available for web users. It is a great way to trade on the go, especially for people who do not have access to a desktop or laptop and are constantly travelling. 

Gemini wallet

Gemini provides wallet support so you can store cryptocurrency assets in a secure environment. The Gemini cryptocurrency wallet is insured against theft and fraud. The wallet assets are backed by reserves held in a trust in New York to provide greater safety and insurance to clients’ assets. 

Unlike other cryptocurrency wallets provided by similar platforms, Gemini’s wallet adds extra security layers and stores funds in a cold environment through a mix of hardware and private key options. However, if you wish to hold your crypto assets for the long term, it is a good idea to transfer them to a personal hardware wallet for ensuring security. You also get more control over your assets and can transfer them at any time in case you wish to sell or trade.  

You can deposit cryptocurrencies and fiat into your wallet easily. Gemini provides support for multiple payment methods such as wire transfer, credit and debit cards. Wire transfers and credit cards are free but debit cards are charged an extra fee for deposits. 

How to create an account on Gemini? (full tutorial)

Gemini verdict

Gemini is a cryptocurrency platform that offers high-grade security and custodial options for its users. The fees are a bit on the higher side and some of the features are not yet available in all regions of the world. However, Gemini is one of the industry leaders and is a regulated platform. Australian users can trade on the platform and the exchange also provides support for AUD. 

 

The Gemini platform is of great help to institutional clients with its dedicated wealth management services and insurance for cryptocurrency assets. It also provides the ability to trade futures and has great liquidity. 

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