Gemini

Gemini is a fully licensed and regulated digital exchange that has perhaps the best security for a crypto platform – including a $200,000,000 insurance program. While the number of users pales in comparison to exchanges like Coinbase and Binance.com, Gemini’s audience of 500,000 enjoys a world class trading platform.

Founded by CEO Tyler Winklevoss and President Cameron Winklevoss in 2014, Gemini focuses on delivering a simple to use yet elegant trading experience. The UI is a thing of beauty, with a resource rich platform and every move you make is accompanied by easy navigation and clear direction. Even the User Agreement is easy to ready and clear as a bell.

Traders on Gemini agree. It is virtually the only American-based crypto exchange that isn’t plagued by rampant, recent or past support issues (i.e. lack of adequate user support). While many review platforms are prone to fake reviews and spam, it is notable that Gemini has over 9000 reviews in the App Store with an overall rating of 4.7 stars.

The exchange is also trusted by institutional investors and big market players. In 2017, CBOE Global Markets, the world’s largest exchange holding company, partnered with Gemini to launch the first Bitcoin futures contract. 

Gemini’s marketing efforts also seem to be a few notches above Kraken and 10-20 notches above Coinbase, with ebullient messaging that exudes confidence while zeroing in on the safety of your digital assets. 

Gemini Exchange provides buying, selling and storage of digital assets, while its Active Trader product is built for, you guessed it, the active crypto trader.

• Available to: All 50 US states and 50+ countries including UK, Canada, Brazil, Hong Kong, and India.
• Suitable for: Beginners and advanced traders.
• Trades: 25+ cryptocurrencies.
• Fiat currencies accepted: 5+ fiat currencies including USD, AUD, CAD, EUR, GBP, HKD.
• Fees: Spot trading maker fees range from 0.25% to 0.0%, taker fees range from .35% to 0.03%. 
• Exchange token: None
• Main features: spot trading, buy/sell crypto, insured crypto wallet, custody, 1st regulated stablecoin, auctions, and clearing services for OTC.

Gemini provides concise and easy to navigate learning resources for newcomers to crypto, in fact segmenting them immediately from expert traders on the website’s homepage. Everything is simply organized on page and intuitively placed so the right information is there when you need it. It’s thorough but also minimal.

Gemini’s drip email series includes a complete guide to cryptocurrencies which users receive on the day after signing up. It’s not a link out to a guide, the guide is in the email

1. Fiat deposits – A link to your bank can be set up automatically using Plaid, or manually by inputting your bank details. Wired funds are usually available within 1 business day. ACH deposits are available for trading immediately and can be withdrawn after about 4-5 business days.
2. Cryptocurrency deposits – No limitations on deposits for 26 supported cryptocurrencies.
3. Credit & debit cards – Debit cards are accepted as funding sources with a $500 daily limit and 3.49% fee. When depositing with a debit card, you’re able to complete a trade instantly but it takes 48-72 hours to clear in Gemini, after which the withdrawal hold is lifted. Credit cards are not accepted.

Active Trader provides a sleek trading venue offering market orders, a variety of limit orders, and stop limits.

Account set up was super easy and quick, with clear, concise explanations of the few steps involved.

As a New York licensed trust company, Gemini must submit to regular bank exams and security audits and they are the first crypto exchange to do this. They combine this regulatory security with what they consider best-in-industry cold storage, as well as reserves and an insurance policy that covers more digital assets than any other company today.

Investors at the custodial level may be able to purchase additional insurance for their crypto holdings on Gemini Exchange. The coverage consists of a combination of traditional insurers with Gemini’s captive insurer. To find out what they qualify for, custodial clients can contact Gemini Custody Service. 

Gemini’s capital is held in reserve at a NY trust company and licensed fiduciary. The exchange also has extensive internal controls, including using hardware security modules (HSMs) that were rated FIPS 140-2 Level 3 or higher.

Gemini is a security-first exchange with many unique security features for users, such as a choice to set up specified addresses so that future crypto withdrawals can only be sent to addresses pre-selected by the user.

Gemini has outstanding marketing, with featured ads in hot locations like The Block, an engaging welcome email drip series starting off with a letter from the founders and followed by a series of emails explaining their services simply and concisely. No words are wasted on Gemini’s website and throughout their documentation, which is frankly a breath of fresh air after reading all of Coinbase’s docs.

One of the key benefits to using Gemini over other crypto exchanges like Coinbase and Kraken is that they give users up to 10 free withdrawals per month to external wallets, making it an ideal platform for traders to on- and -off board crypto assets while providing a simplified accounting record. 

Gemini’s twin executives, Tyler and Cameron Winklevoss, have a very positive presence on social media and the company has a benevolent vibe. They even enable people to donate crypto to their partner, The Giving Block, with a tax receipt included.

The Gemini Exchange bills itself as security first, but it has managed to accomplish this with a user first mindset, and it shows within the supporting community. Unlike Kraken (to some extent) and Coinbase (to a big extent), Gemini’s social media posts are greeted with support and not continual complaints.

This is KEY – not many offer this as some networks charge large fees at some times because of network congestion.  Exchanges get burnt on withdrawals losing money a lot of the times, but they make it back on the other fees they collect.  Though having 10 free withdrawals a month makes Gemini my number one exchange – I use it to on-board and off-load all my cash to make my accounting easier.