Gemini 2020 Review

With high-end security measures and speedy backend technology, Gemini is a solid platform for quick, safe access to BTC and ETH using FIAT.

Our Take

The Bottom Line: Gemini is known for being one of the first fully regulated crypto exchanges, with exceptional compliance standards that suit institutional crypto buyers. The sandbox feature helps new users get to grips with crypto trading, while the 6 tiered fee structure rewards high volume traders. If you’re looking for a no-fuss platform with industry-grade security and compliance, Gemini is your place.

open account

on Gemini's website

FEES

0.75% to 0.1%

maker/taker fee system

PAYMENT OPTIONS

Excellent

ACH Transfer, Wire Transfer, Cryptocurrency

REPUTATION

Trusted

Gemini is is one of the first fully compliant and regulated crypto exchanges

Gemini at a glance

Usability 4.0

First, you’ll need to check that Gemini accepts your country, as they’re quite restrictive with who they accept. Registration is a 2-3 minute, standard process, followed by verification.

The verification process is mandatory for Gemini. You’ll need to set up 2-Factor Authentication, followed by inputting your bank account. After these phases, you’ll need to verify your ID through photos and supporting documents.

The platform itself is well-designed, making it a good platform for less experienced traders. Simple to use, the site is very responsive and speedy. The interface prominently display all necessary information, while its high-tech backend provides super-fast loading times.

For beginner crypto traders, you can sign up to a sandbox account which enables you to practice trades before you execute any. You will need an active telephone number to initiate 2FA when using a sandbox account.

Geminin accepts deposits from ACH (Automatic Clearing House) in the US and wire transfer outside the US, or by ETH or BTC.

Security 4.5

Gemini prides itself on being a regulated exchange, taking security extremely seriously. This makes Gemini perhaps one of the safest platforms for trading crypto. 

Aside from mandatory 2FA and verification, Gemini employs comprehensive methods to protect user funds. The majority of funds are stored offline in cold storage to prevent hackers from tampering with them via internet connection. These hardware wallets are heavily guarded in person and through multi-signature technology. To top this off, all FIAT funds are insured.

It is also relevant to mention that the exchange is based in NYC and is one of the first fully compliant and regulated crypto exchanges. Regulated by NYSDFS, this shows that Gemini is up to scratch with high standards of compliance, cybersecurity, capitalization, and anti-money laundering procedures.

Range of Offerings 2.0

The Gemini exchange is limited to the trade of USD, Bitcoin, and Ethereum. This is due to their commitment to providing an institutional-friendly exchange, and subsequent desire to avoid potential problems with lesser experienced coins.

Gemini also offers auctions daily for certain trading pairs. Schedules can be found on the website and all users can participate.

Education and Research 3.5

While the Gemini platform itself is easy to master, it doesn’t really open its doors to the complete amateur, as there is little in the way of educational resources. The website does have an extensive FAQ section, but this deals more with operational issues of the platform.

That said, the sandbox account feature allows self-starters to play around with the platform and work out how to trade.

For more knowledgeable traders, the blog provides good insights into various aspects of Gemini – tech updates, trading overviews, security enhancements, etc.

Customer Service and Help 4.5

Unlike many popular crypto exchanges, Gemini has good feedback about its customer support. For specific issues and queries, users can send an email to the support team, who reply within a couple of hours – as opposed to a couple of days on other platforms.

For more general inquiries regarding the platform’s functionality, users can head over to their comprehensive FAQ section on the website.

Costs 3.0

First off, Gemini don’t charge for deposits or withdrawals. However, they do state that they can’t be held responsible for associated bank charges in regards to wire transfers or network fees with crypto transactions.

Trading fees depend on your 30-day trading volume and are organized into 6 tiers in a maker/taker model. Takers fees range from 0.75% for less than 5 BTC or 50 ETH to 0.1% for trades over 2000 BTC or 0% for 20,000 ETH. Auction fees range from 0.75% to 0% for the same volumes.

What You Need to Know

Gemini is a good choice for those who need secure trading and regulation – namely institutions and those looking to transfer large sums. The intuitive interface makes it easy for beginners, while the sandbox accounts feature fosters an environment for self-learning. Providing easy access to BTC and ETH using USD, Gemini is perfect for those who want fast trades, secure access, and a straightforward platform.

Get Started with Gemini

Methodology

Cryptopia’s mission is to provide unbiased, comprehensive reviews and ratings of cryptocurrency exchanges. Everything you find on Cryptopia is based on reliable data and unbiased information. We are proud to share with you how our team of finance and cryptocurrency experts combined with readers feedback create the foundation of these reviews. Our reviews are the result of months of evaluating all aspects of an exchange’s platform, including the user experience, security, products available on their platforms, costs and fees, and customer service.