Gemini Review Security & Features Compared

We examine the Gemini Exchange, the services offered, security and functionality.

Dean Fankhauser11 min read
Gemini

Our take

4 out of 5 stars

Users can always rely upon and trust Gemini to provide the best services.

If you are a native crypto trader, or perhaps you have heard about cryptocurrency exchanges but don't know the perfect exchange to use. Well, the Gemini exchange is an ideal fit for you.

In this Gemini review, we will discuss the Gemini Exchange and examine the services offered, the security of the Gemini platform, and its functionality compared to other crypto exchanges.

What is Gemini?

Gemini Portoflio

Launched in 2015 as a crypto trading platform, Gemini exchange is a trusted cryptocurrency exchange that allows crypto trading and storing of digital assets by its users. Gemini has proven to be a secure and easy platform to build your cryptocurrency portfolio.

Gemini is a New York-based company founded by Cameron and Tyler Winklevoss. The New York state department of financial services regulates the operations of Gemini.

With the creation of the Nifty gateway owned by Gemini, users are given access to buy, sell and store non-fungible tokens(NFTs).

Gemini offers high-performance tools needed to execute your trading with Gemini's active trader platform. Whether it's your first time trading or you are an advanced trader, it works perfectly for you.

The standard Gemini platform is the best for crypto traders who are just entering the crypto world. It offers educational videos and easy-to-operate applications on mobile apps to help users trade, buy, and sell cryptocurrencies.

On the other hand, the Gemini pro version is perfectly designed with professional charting, order types, and reduced trading fees for advanced traders. These options attract the attention of advanced traders.

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Findings on Gemini

  • High-end security measures.
  • Over 75 cryptocurrencies are available to trade.
  • Easy to use interface for crypto traders, combined with more advanced options for professional traders.
  • Available in all U.S. states
  • Earn up to 8.05% APY with Gemini Earn on all your cryptocurrency in your Gemini account
  • Learning platform

Products and services offered by Gemini

Like most crypto exchanges, Gemini is one of the top exchanges for new crypto investors. It has an easy-to-use Gemini mobile app and cryptopedia tools, making it easier for anyone to enter the world of crypto.

It is important to note that users can purchase crypto on a Gemini account for substantially low fees. Hence, if you are planning to invest heavily in crypto, understanding the interface of the Gemini mobile app is worth taking your time.

Here are some of the products and services Gemini offers:

The Active trader platform

The Activetrader is Gemini's professional trading platform. It offers extensive charting capabilities and many trading options for full-time traders. This platform supports peer-to-peer trading with no trade limit.

Users withdrawing crypto can do that up to 10 times in a month without Gemini fees, a feature not available on some cryptocurrency exchanges.

Also, the active trader platform allows users to process and execute crypto trades in microseconds with the help of real-time market data analytics.

Gemini Pay

Gemini Pay

Everyone loves to make purchases of items in cryptocurrency because it eases the transaction of goods and services. Gemini offers you the opportunity to make purchases in-store using crypto at more than 30,000 retail locations.

With Gemini pay on either the Gemini app or the Gemini website, you can use your desired cryptocurrency, such as Bitcoin, Ether, or Gemini dollar, fixed to the U.S dollar without making a conversion yourself.

There is no transaction fee incurred when using the Gemini pay option. However, it is essential to note that when using the payment platform for crypto purchases, a taxable event must be created in which capital gains may result if your asset at the point of use is worth more than when you purchased it.

Also, transactions with the Gemini pay are currently limited to $250 per week.

Gemini Earn

Earning is undoubtedly the most important goal of investing in cryptocurrency. Gemini Earn allows you to earn interest in the crypto world. It can be likened to how you earn interest in your bank's Savings Account.

Like many other crypto exchanges, the "Gemini Earn" feature allows you to lend your digital assets to institutional investors while you earn interest daily.

Gemini account and Gemini custody

Gemini offers a secured hot wallet called the Gemini wallet and Gemini Custody, a cold digital wallet.

Gemini Custody is used for total control of your assets offline, and a transaction fee of 0.4% is charged every year.

However, to avoid security breaches, Gemini wallet is used to store your crypto assets online.

Gemini credit card

Gemini Card

You can earn crypto rewards such as bitcoin and over 60 cryptocurrencies available on Gemini with the Gemini credit card when you make purchases.

The crypto rewards are deposited into your Gemini account the instant you swipe your crypto rewards credit card when you make a purchase.

Interestingly, you don't have a reason to time the market while you earn with your credit card, and transaction fees or trading fees are not needed to acquire your rewards.

Cryptocurrencies supported by Gemini

Gemini supported over 75 trading crypto, including some popular cryptocurrencies such as Bitcoin, Ethereum, and Bitcoin Cash, when this article was written.

You can check here for a complete list of the supported cryptocurrencies.

Gemini Fee Structure

Gemini charges most transactions, including trades, purchases, transfers, and deposits. However, Gemini offers free wire transfers and free fiat currency deposits.

Gemini charges four main fees:

  • Trading fees: transaction fees are required when users trade crypto or sell crypto on either the Gemini website or mobile app through the Gemini standard or the Advanced trading platform. These trading fees vary depending on the platform used.
  • The Custody fee structure: Gemini offers to store its user's crypto assets. The Custody fee covers the cost of keeping these digital assets in the Gemini Custody Account.
  • Agent fees: These are fees Gemini charges users that earn interest on their crypto holdings through "Gemini Earn." The agent fee has been deducted from the annual percentage yield displayed in the user's Gemini account.
  • Transfer fee: Gemini charges for certain deposits or withdrawals. Deposits with a debit card incur 3.49% of the transaction fees. Withdrawal fees vary and are charged when you make more than 10 transactions in a month.

We will discuss two of the fee structures available on the Gemini exchange. They are the Activetrader fee schedule and the custody fee schedule.

Activetrader Fee Schedule

Gemini adopts a maker-taker fee model for determining trading fees for all taken orders. The gross trading volume in notional USD determines the fee rate for every trading pair across Gemini's auction order books, continuous order books, and block trading for a 30-days calendar tracking window.

You can learn more about the rates for orders placed on the Activetrader platforms by checking the Activetrader fee schedule.

You can also learn more about the various fee schedule on Gemini. See fee structure.

Security Features

Out of frustration and lack of trust, people find it difficult to use random cryptocurrency exchanges. After all, the security of funds is key to a successful investment.

Knowing this fact, Gemini built a leading security system focused on innovative security solutions to help secure users' crypto assets. The company invested in tools to make the company transparent on security.

Gemini offers security features that guarantee its users the security of their digital assets as long as the assets are kept on Gemini.

Here are some of the security measures offered by Gemini:

  • Two-factor authentication (2FA): To access your account and make withdrawals, 2FA is automatically required through SMS or two-factor authentication apps such as Authy App.
  • Multiple signatories, called multi-factor authentication, are required to send cryptocurrency out of Gemini cold storage system and engage in other functions.
  • Hardware security keys are required to access the production systems, and these private keys are not open to spoofing attacks.

Gemini's Service provider

With the help of its virtual Chatbox and documentation, Gemini offers online support to users with questions. Human support is also available via email.

Alternative crypto exchange platforms

Gemini vs. Kraken

  • Gemini exchange won't charge for your first 30 monthly withdrawals. However, Kraken exchange charges for withdrawing from your account.
  • While Gemini exchange operates on a mobile app and website, Kraken exchange doesn't have a mobile app.
  • Gemini tends to offer fewer options on the list of available coins because it only wants to deal with the safest currencies. However, Kraken supports a multitude of coins.
  • Gemini focuses on the US market. As a result, it is regulated in the US and offers USD as the only fiat currency. Kraken, on the other hand, offers more than one fiat currency.

To know more, read the article – Gemini vs. Kraken, which cryptocurrency exchange is better?

Gemini vs. Coinbase

  • Gemini provides the highest level of security possible if you plan to invest a huge amount of fiat currency in Bitcoin and Ethereum. In contrast, coinbase doesn't offer such a level of protection.
  • Gemini conducts a 2-minute security quiz and requests a lot of personal information when creating an account. However, coinbase proves perfect and easy when setting up an account with ease.

Want to know more about Gemini vs. Coinbase? Check here.

Gemini vs. Crypto.com

  • Crypto.com rewards users with 8% cashback on every purchase. However, Gemini offers users up to a 3% crypto reward on every purchase with the Gemini credit card.
  • Gemini exchange accepts wire transfers internationally and deposits made by Automated clearing House (ACH), but crypto.com doesn't offer such a service.
  • Gemini charges a fixed transaction fee and convenience fee from its users. However, on Crypto.com, there are no fixed fees, and fees drop as the trading volume increases.
  • Crypto.com gives access to a 50% loan to value (LTO) ratio on crypto loans via crypto credit, but the Gemini platform doesn't offer such a loaning service.

Check the in-depth Gemini vs. Crypto.com review in this article.

PlatformInterest Rates (APY)
Nexo
Up to 7% on BTC
Up to 17% on Stablecoins
... 34 more coins
Go to site →
Midas.Investments
Up to 9.42% on BTC
Up to 14.5% on Stablecoins
... 16 more coins
Go to site →
CoinLoan
Up to 5.2% on BTC
Up to 10.3% on Stablecoins
... 23 more coins
Go to site →
YouHodler
Up to 4.81% on BTC
Up to 11.29% on Stablecoins
... 55 more coins
Go to site →

Verdict

Gemini is a trusted cryptocurrency exchange that offers beginners and professional traders the best tools.

Its high-end security features make it safe and legit to buy and sell crypto on the Gemini platform and store digital assets while you earn interest on your crypto holdings.

Therefore, new users and current users can always rely upon and trust Gemini to provide the best services required by a trusted crypto exchange.

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