Gemini Overview
Gemini is a popular crypto exchange platform launched in New York by the Winklevoss brothers in 2014. The platform quickly became one of the largest global players, with over 10 million users and strong regulatory standings, including in the United States.
In this Gemini review, we will show you everything you need to know, like features, trading options, supported assets, fees, security, customer support, and more.
Gemini Pros & Cons
| ✅ Gemini Pros | ❌ Gemini Cons |
|---|---|
| Available in the US | High trading fees |
| Fully regulated | Poor liquidity |
| Very reliable | Only 80 coins supported |
| Beginner friendly | Lacks advanced features |
| No futures trading |
Gemini Products & Services
Launched in 2014, Gemini is one of the oldest crypto exchanges with tons of products and features. Traders can access spot and futures trading for over 77 cryptocurrencies. Aside from cryptos, Gemini offers precious metals and Forex trading pairs.
What makes Gemini stand out most is its regulatory standing. Gemini is regulated in the United States and operates in over 150 different countries.
For passive income, Gemini offers staking products with up to 16% APY on staked cryptos.
If you don’t own cryptos yet, you can easily deposit funds on Gemini using your credit/debit card or bank transfer. Over 40 fiat currencies are supported for instant purchases. For selected currencies such as Euros, users can even deposit fiat using SEPA transfer.
For mobile users, Gemini offers an app. The app is available for Android and iOS phones with a 4.3/5 star rating. After testing over 50 crypto exchange apps, we consider the Gemini app to be perfect for beginners, but it is below average for experienced traders.
Gemini Trading Features
Spot Trading
Gemini offers spot trading for over 80 different coins. The interface is very user-friendly, making Gemini a great choice for beginners who want to get started in the crypt market. Advanced traders may miss some features and order types.
Future Trading
Aside from spot trading, Gemini offers a crypto derivatives platform where traders can access 60 futures contracts with leverage of up to 100x. Unfortunately, the Gemini futures market is not efficient, has poor liquidity, and the website is not working smoothly. It may be enough for beginners, but experienced traders should seek better options.
Gemini Fees & Costs
Spot Trading Fees
Gemini charges 0.1% fees for makers and takers on the spot market.
Futures Trading Fees
The futures fees at Gemini are slightly higher than the industry standard. A maker fee of 0.02% and a taker fee of 0.07% applies for derivatives trading on Gemini.
You can reduce your fees based on your 30-day trading volume.
Gemini Deposits & Withdrawals
Deposits
Gemini supports multiple networks for free crypto deposits.
For fiat deposits, Gemini supports over 60 fiat currencies, including USD, EUR, GBP RUB, and more, through the following payment methods:
- Credit/Debit card
- Bank transfer
- Sofort
Fiat deposit fees range from 1% to 3% based on your fiat currency and payment method.
Withdrawals
The Gemini crypto withdrawal fees are dynamic and are based on the respective network capacity. Gemini supports multiple networks for crypto withdrawals, including:
- Bitcoin
- ERC20
- MATIC
- Litecoin
- XRP
- SOL
For fiat withdrawals, Gemini supports withdrawals via Bank transfer.
Gemini Customer Support
Gemini only offers email support. The average response time is 24 hours. Overall, the Gemini staff seems to be knowledgeable and helpful. However, we expect 24/7 live chat support in the crypto industry.
Gemini Security
The Gemini platform is ISO 27001 and SOC 2 Type 2 certified.
Gemini is regulated and licensed in multiple regions around the world. Gemini complies with the laws and regulations of the Department of the Treasury’s Office of Foreign Assets Control.
Gemini stores customer funds in multi-sig cold storage wallets. While we consider Gemini to be a secure crypto exchange, we advise you to store your cryptos in a personal wallet.
You can also add additional security features to safeguard your account:
- Two-factor authentication
- Email verification
- SMS verification
Gemini Signup & KYC
Gemini requires KYC verification. Without KYC verification, you can not use Gemini. In order to verify your identity, you must submit personal details:
- Personal Details
- Government-issued ID
- Selfie
Gemini Review Summary
Gemini is one of the oldest and most reliable crypto platforms. The exchange offers over 250 different cryptocurrencies.
Due to high fees, poor liquidity, and a slow trading platform, we can’t recommend day trading on Gemini. However, for beginners, we think Gemini is an excellent choice due to its user-friendliness and high security level.
Overall, we consider Gemini to be a top choice for beginners and passive investors who don’t want to day trade.
FAQ
Is Gemini legit?
Yes, Gemini is a legitimate crypto exchange with over 15 million users.
Does Gemini require KYC?
Yes, Gemini requires KYC verification. Without identification, you can not use Gemini.
Is Gemini available in the US?
Yes, Gemini is available in the United States.
What are Gemini fees?
Gemini spot fees start at 0.1% for maker and taker orders. Futures fees are 0.02% maker and 0.07% taker.
