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1/10

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Best of Gemini

• Beginner-friendly crypto trading
• Wide cryptocurrency selection
• Earn interest on cryptocurrency balances
• Highly-rated mobile app

Diego G. Crypto Enthusiast

Updated: July 5, 2024

Gemini Review 2023: One of the Most Reliable Bitcoin Exchanges Gemini is a unique crypto exchange that caters to both novice and advanced crypto investors. It has a large selection of cryptocurrencies, a fantastic library of educational content, and numerous other useful features. Read our complete Gemini review to learn everything you need to know […]

Gemini Review 2023: One of the Most Reliable Bitcoin Exchanges

Gemini is a unique crypto exchange that caters to both novice and advanced crypto investors. It has a large selection of cryptocurrencies, a fantastic library of educational content, and numerous other useful features. Read our complete Gemini review to learn everything you need to know to decide if it’s perfect for you.

Complete review of the Gemini exchange

This cryptocurrency exchange is ideal for: experienced investors looking for a full-featured cryptocurrency platform.

Pros:

Cons:

Key benefits

Platform for advanced trading

The default trading platform on Gemini is simple to use and provides more than enough functionality for most investors to buy and sell cryptocurrencies. Gemini ActiveTrader, a high-performance crypto trading tool meant for experienced investors, is also available on the exchange.
Gemini ActiveTrader comes with the ability to place different order types, such as market or limit orders, as well as comprehensive charting tools, deep order book visibility, and other features. We recommend using it for its lower trading fees, even if you don’t need the additional features.

Gemini Earn

Gemini Earn is one of the most significant benefits that the Gemini exchange has over the majority of its competitors. You may earn income on your idle cryptocurrency balances with this lending program.
You can lend a variety of cryptocurrencies through Gemini Earn, including stablecoins, which are designed to keep a continuous value. In addition, the program offers competitive interest rates.

Gemini Pay

Gemini Pay is available through the Gemini mobile app. This allows users to use their bitcoins to pay for goods and services at over 30,000 retail outlets in the United States that utilise QR code technology. Users can select which cryptocurrency to use; for example, you can use Ethereum (ETH) to buy dinner while keeping your Bitcoin balance intact.

Instructional materials

The Gemini Cryptopedia is possibly the most impressive collection of bitcoin educational content available from any exchange. It offers hundreds of well-written articles on topics ranging from the origins of Bitcoin to the operation of non-fungible tokens (NFTs).

Mobile app

Gemini has a good mobile app for buying and selling digital currency from your smartphone or tablet. It’s accessible on both the Apple App Store and Google Play, where it has received positive feedback.

Gemini Credit Card

With the Gemini Credit CardTM, you may earn cryptocurrency rewards on your purchases. It has no yearly or foreign transaction fees, and it gives you up to 3% back in the cryptocurrency of your choice. You can also change your cryptocurrency at any moment.
It’s worth noting that, like other crypto credit cards, the Gemini Credit CardTM lacks the perks needed to compete with regular rewards cards. But, if you’re serious about earning cryptocurrency rewards, this credit card is one of the best possibilities.

Available in every state in the United States

Some cryptocurrency exchanges, particularly those that pay interest on crypto deposits, are unable to provide their services in every state in the United States. Gemini’s commitment to compliance allows them to operate across the country.

Areas for improvement

High fees on the default platform

The most significant disadvantage of Gemini is its cost structure, at least for those who do not use their ActiveTrader interface. Fees for orders of up to $200 range from $0.99 to $2.99 on the web exchange and mobile app. Purchases exceeding $200 are subject to a 1.49% charge.
That’s far more expensive than many crypto exchanges, which impose trading costs of 0.5% or less. With Gemini ActiveTrader, Gemini offers reasonable costs. Nonetheless, it is disheartening that investors who use the company’s default platform are charged more.

Some major cryptocurrencies are missing

Gemini allows users to purchase and sell a wide range of cryptocurrencies, but there are a few notable exceptions. Among the more notable examples are:

• Cardano (ADA) (ADA)
• Avalanche (AVAX) (AVAX)
• Tron (TRX) (TRX)
• Stellar (XLM) (XLM)

All of these coins have previously ranked in the top 25. If you want to invest in any of them, you’ll have to seek elsewhere.

Alternative options to consider:

• If you prefer a broader selection of cryptocurrencies, Coinbase is Gemini’s main competitor, with over 200 cryptocurrencies to choose from. It also strikes a balance between a user-friendly UI and complex trading features. Nonetheless, Coinbase charges somewhat more fees than Gemini.
• If you wish to trade equities as well: Robinhood is best known as a stock trading platform, but it now offers a wide range of cryptocurrencies. It’s one of the greatest stock brokers and overall investing platforms for newbies, especially because it’s completely free of commissions.

How Gemini operates

Gemini is a cryptocurrency exchange with a web platform and a mobile app. It allows you to buy, sell, and store bitcoins.
The exchange accepts fiat money deposits via bank account ACH transfer, wire transfer, and debit card payment. Withdrawals are possible by ACH transfer and wire transfer. Also, you can deposit and withdraw cryptocurrency funds.

• Gemini offers various different solutions for cryptocurrency investors in addition to its primary Gemini Exchange platform. These are some examples:
• Gemini ActiveTrader is a sophisticated cryptocurrency trading platform.
• Gemini Earn is a lending program that pays interest on cryptocurrency loans.
• Gemini Wallet: A secure and safe wallet infrastructure
• Gemini Credit CardTM is a cryptocurrency rewards credit card.
• Gemini Clearing: A service that facilitates off-exchange cryptocurrency transactions.

Nifty Gateway is also owned by Gemini.

Fees overview

Gemini’s trading costs vary depending on which of its platforms you utilize. The normal Gemini Exchange, used by the exchange’s web platform and mobile app, is more cost-effective than Gemini ActiveTrader.

Gemini Exchange fees

Gemini charges a convenience fee and a transaction fee for bitcoin trading on its web platform and mobile app. The convenience charge is a 0.5% markup on the listed price of a cryptocurrency. For example, if the current market price of Bitcoin is $10,000, Gemini will charge $10,050.

The transaction charge is calculated depending on the order total as follows:

Gemini ActiveTrader fees

Gemini ActiveTrader charges a maker-taker fee. Liquidity-making orders, or orders that aren’t immediately filled, incur the maker fee. On the other hand, liquidity-taking orders, which are filled instantly by matching with an existing order in the order book, are charged the taker fee. Your fees are determined by your trading volume over the past 30 days.

Below is the whole Gemini ActiveTrade fee schedule:

Transfer fees for Gemini

Gemini accepts free US currency deposits and withdrawals by ACH transfer or wire transfer. Debit card deposits are also accepted, although there is a 3.49% fee.Deposits of cryptocurrencies are also free. Depending on the cryptocurrency, cryptocurrency withdrawals include either a set cost or a dynamic fee. Ethereum and ERC20 tokens (crypto tokens built on the Ethereum blockchain) feature dynamic costs that are determined by the network fees for that blockchain at the time. Some cryptocurrencies charge a one-time fee. The exception is Gemini Dollar (GUSD), the exchange’s stablecoin, which has no withdrawal cost.

Choosing a Cryptocurrency

Gemini offers over 100 coins for trading. One of its good qualities is its extensive assortment, which includes more digital assets than many prominent crypto exchanges. Several industry leaders, such as Bitcoin, Ethereum, and Solana, will be available for investment (SOL). If you’re looking for lesser cryptocurrencies that haven’t received as much attention as others, Gemini has many of them.

Gemini does not support a few major cryptocurrencies, with Cardano being one of the most noticeable absences. Yet, it continues to do a fantastic job of giving a wide range of cryptocurrency possibilities.

Is Gemini safe for your cryptocurrency?

Gemini maintains a high level of security, making it a secure place to trade and store cryptocurrencies.

Most digital assets are kept in cold crypto storage, offline on servers not connected to the internet, making them hard to hack. Gemini maintains digital asset insurance for the portion of assets held in hot storage (online storage). This policy protects against digital asset theft caused by a direct security breach or hack of Gemini’s systems, as well as theft by a Gemini employee.

Remember that Gemini’s insurance does not cover losses caused by illegal access to a user’s account. For instance, if a hacker gained access to your account and stole funds, insurance would not cover the loss.

That is why it is critical to keep your account secure. Fortunately, Gemini includes a number of security features to assist with this. It requires you to enable two-factor authentication (2FA) and lets you create a list of acceptable withdrawal addresses.
Your US money in your Gemini account are likewise safe. These cash deposits are insured by the FDIC in the same way that many banks and credit unions are, up to $250,000 per qualified account.

Gemini is the best option for you if:

• You want a simple platform with a superb mobile app for buying, storing, and selling cryptocurrency.
• You’d like to earn interest on your cryptocurrency investments.