Gemini Review: The Most Secure Crypto Exchange

Investing
Updated: 9th Jan 2021
Written by Sean Graytok
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Gemini’s cryptocurrency exchange is one of a handful of exchanges considered the most trustworthy in 2021. However, compared with Coinbase and Binance, it isn’t as well known.

Why is that? The answer is a simple one. Whereas other exchanges have gone for growth at all cost’s strategies, Gemini has opted to create the highest quality crypto exchange possible while strictly adhering to compliance regulations.

Gemini has built what is arguably the world’s most secure and legal cryptocurrency exchange in the world.

Perhaps that’s why large financial institutions transacting mind-boggling amounts of money are flocking to Gemini in droves.

This Gemini exchange review will help you understand everything you need to know about the exchange, beginning with its origins back in 2016.

What is Gemini?

Gemini is an insured digital currency trading platform founded and launched in 2016 by the legendary Winklevoss twins. At the time of its launch, Gemini was the world’s first and only fully licensed crypto exchange.

The exchange’s focus on compliance and security from day one is essential to note. Before Gemini, flash in the pan exchanges like Mt. Gox had come and gone, burning countless investors along the way.

Understanding Gemini’s push for creating a trustworthy crypto exchange means getting to know a little bit about the Winklevoss twins first.

Tyler and Cameron Winklevoss are well-known figures in the tech industry for their role in founding Facebook by way of creating its predecessor HarvardU. Their subsequent legal brawl with Mark Zuckerberg, who they claimed stole their ideas and code, pushed the twins into the limelight.

Gemini Cryptocurrency Exchange Review
Trade Crypto Securely

While the case was settled in the twin’s favor, the reward amount was insignificant compared to the vast sums Facebook is worth today.

Not content to sit around complaining idly, the twins pushed ahead and latched on to a new technological development: Bitcoin.

As early believers in Bitcoin, the brothers began accumulating in 2011, eventually buying nearly 1% of all BTC in circulation.

However, with the catastrophic disaster that was the 2014 meltdown of Mt. Gox Bitcoin exchange, they quickly realized that if Bitcoin was ever going to go mainstream, a trusted and secure crypto exchange was crucial.

Enter the Gemini cryptocurrency exchange. In 2016, the crypto ecosystem was still the lawless Wild West that had come to define the industry’s earlier years.

In becoming the first US licensed digital asset exchange, Gemini signaled that the ragtag years were in the past while the future lay in creating safe access for institutions and retail investors.

Moreover, Gemini partnered with the CBOE to launch Bitcoin futures back in 2017, signaling yet another new phase of maturity for cryptocurrency assets.

With a history full of milestones and trust earned, what does the Gemini exchange have to offer traders today?

Gemini Exchange Core Features

Robust Mobile App

Each day, people spend an average of 3 hours per day on smartphones. That means the importance of creating a top-tier mobile app experience cannot be overstated. Gemini has risen to the challenge with Gemini Mobile, a secure app for buying, selling, and storing crypto.

Dynamic Web Exchange

From day one, Gemini has focused on harnessing the best technology to create a seamless, intuitive, and simple exchange experience for all.

Gemini Crypto Exchange

Gemini’s web-based platform makes Bitcoin investing as easy as ordering from Amazon Prime.

Gemini ActiveTrader™

Discerning traders and investors looking for professional-grade tools need not look further than Gemini ActiveTrader.

Featuring detailed charts, block-trading, complex order types, and real-time trade execution, ActiveTrader helps you follow through on your trading strategies.

Gemini Clearing™

Recognizing the demand for Bitcoin coming from institutional accounts, Gemini Clearing is an over the counter (OTC) cryptocurrency trading product featuring anonymous settlement.

With Gemini Clearing, counterparties directly trade with each other off-exchange as Gemini stands by as a risk-mitigating third-party.

Gemini Custody™

Buying Bitcoin is only half the battle — the other half is storing it. Gemini Custody is an elite cryptocurrency storage service on par with the highest financial institution standards.

Featuring $200+ million in wallet insurance, Gemini Custody is a cryptocurrency vault built to secure specifications.

Gemini Wallet™

No matter the amount of cryptocurrency you are holding, you deserve institutional-grade security from your crypto wallet.

Gemini Wallet is a custom-built solution featuring comprehensive security technology and stellar hack-free history. Store your crypto without fear, knowing that Gemini Wallets are insured and NYFDS-regulated.

Gemini dollar™

Following a favorable ruling from the OCC regarding the legality of stablecoins, USD-pegged digital assets have well and truly come into the spotlight.

Gemini dollar is a regulated stablecoin backed by real-world dollars held in reserve by State Street Bank and Trust, giving GUSD 1:1 stability and unsurpassed security.

Gemini Pay™

Paying with cryptocurrency has been the dream since Bitcoin’s launch back in 2009. Now, it’s a reality with Gemini Pay, a simple app for buying things with cryptocurrency at over 30K retailers worldwide. Currencies accepted included GUSD, BTC, ETH, LTC, ZEC, and BCH.

Flexa

Flexa is a global payment network allowing anyone to spend cryptocurrencies at over 41,000 retail locations in North America. Cryptocurrency wallet apps integrating Flexa, such as Gemini Pay, are the world’s first solution bridging the gap between real-world payments and crypto.

The Nifty Marketplace

Cryptocurrency isn’t all Bitcoin and Ethereum. It’s about tokenizing everything — including artworks and collectibles.

The Nifty Marketplace is Gemini’s answer to creating digital representations of scarce assets enabling you to hold unique blockchain-based collectibles with provable authenticity. Use Nifty to buy, sell, and store your NFT collectibles with ease.

How to Open a Gemini Account

Creating a Gemini account is fast, simple, and takes you from no-coiner to Bitcoin investor in a few minutes.

To start your cryptocurrency journey, head over to Gemini.com, then click the get started button in the upper right-hand corner. Punch in your name, email address, and a strong password before hitting next.

Now, verify your account using the activation code sent to your mobile phone. Once done, all there is left to do is verify your identity by submitting photos of your government-issued ID. Americans are additionally required to submit social security and source of wealth information.

After submitting your documents, Gemini will work quickly to approve your account for trading. Next, you’ll need to fund your account with cryptocurrency or fiat assets.

Funding Gemini Cryptocurrency Account

Before trading, you’ll need to fund your account. The easiest way to get started is to link your bank account to Gemini under the funding sources tab.

After entering your banking details and having the source verified, you can fund your account via wire transfer and ACH.

Between the two options, ACH funding is much faster — in most cases, the funds arrive instantly. Wire transfers typically take 24 hours (or longer over the weekend). They are, therefore, not the best option for traders in a hurry.

If you already hold cryptocurrency in another wallet, you can quickly fund your Gemini wallet with dozens of assets.

Whether you have BTC, ETH, or DeFi altcoins like COMP, Gemini has you covered. Make sure to check the Gemini deposit wallet address several times before sending — and always send small amounts first.

Gemini Exchange Fees

Gemini cryptocurrency exchange features some of the lowest trading fees to be found anywhere. The way Gemini’s fee schedule works varies based on which product you choose.

Gemini platform fees are for both mobile and web-based trading. However, ActiveTrader has an entirely different schedule based on trading volume. For the former, trading fees begin at $0.99/trade and top out at 1.49% after $200+ orders.

ActiveTrader fees begin at 0.03% for high volume traders (>$500M) and increase to 0.35% for low volume traders ($500K<).

What Coins Can You Buy at Gemini?

Despite an early reputation for a scant selection of coins, Gemini has grown to include dozens of the best cryptocurrencies you can buy today.

Standards like BTC, ETH, LTC, and BCH are all there, but an expanding selection of DeFi coins makes Gemini stand out in today’s market. UNI, COMP, YFI, and SNX are some of the hottest coins on the market and represent the leading edge of decentralized finance tech.

The current list of Gemini’s supported digital assets:

  • Bitcoin (BTC)
  • Ether (ETH)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Zcash (ZEC)
  • Filecoin (FIL)
  • 0x (ZRX)
  • Aave (AAVE)
  • Amp (AMP)
  • Basic Attention (BAT)
  • Balancer (BAL)
  • Chainlink (LINK)
  • Compound (COMP)
  • Curve (CRV)
  • Dai (DAI)
  • Decentraland (MANA)
  • Kyber Network (KNC)
  • Maker (MKR)
  • Orchid (OXT)
  • Pax Gold (PAXG)
  • Ren (REN)
  • Storj (STORJ)
  • Synthetix (SNX)
  • Uma (UMA)
  • Uniswap (UNI)
  • Yearn Finance (YFI)

Alternatives to Gemini:

#1. Coinbase

Hailing from San Francisco, California, Coinbase is a product of Silicon Valley. As one of the largest crypto exchanges in the world, Coinbase serves more than 13.3+ million active users who rely on the platform to trade and store crypto.

However, make no mistake. Coinbase has some of the industry’s highest fees but provides a quality experience paired with robust security.

Learn More: Coinbase Review

#2. BlockFi

Backed by the Winklevoss Capital, BlockFi is a hybrid cryptocurrency exchange and financial institutions. Unlike others in the industry, BlockFi offers a Bitcoin rewards credit card, crypto-backed loans, and a dynamic trading platform.

Learn More: BlockFi Review

#3. Binance

Touted as the largest cryptocurrency exchange, Binance offers users a secure platform with low fees. However, it is not an American exchange, so we advise American consumers to either choose Gemini, Coinbase, or BlockFi to trade crypto.

Bottom Line: Gemini Review

In its five-year history, Gemini’s Exchange has never been compromised by hackers or legal issues. The reason for such an unbroken run of success is impeccable management paired with an extreme focus on keeping users safe.

Unlike other crypto exchanges, Gemini has developed its brand and product slowly and securely to ensure every last token in your wallet stays there.

If trading on a trustworthy exchange with industry-leading security features and insurance matters to you, using Gemini to trade crypto is the best choice you can make in 2021.

Sean Graytok
Sean Graytok
Sean is a lifelong student of the financial, media, and marketing industries. He is a Generation Z investing expert and is on a mission to empower investors to make the most of their money.