Gemini is a cryptocurrency exchange, digital wallet, and custodian to securely store crypto and easily buy and sell Bitcoin and other cryptocurrencies. With tools available to beginners or more experienced traders, they also offer a simple and straightforward mobile app to manage all your assets on the go.
Apart from the mobile app and crypto exchange, they also pays daily interest on your crypto balance stored in the Gemini wallet. The Gemini credit card allows you to earn cashback in bitcoin or other cryptocurrencies on every purchase. Through the Gemini mobile app, you can also use Gemini Pay to spend crypto on purchases at partner retailers in the U.S.
For more advanced traders, they provide other tools like Gemini Active Trader, a high-performance crypto trading platform, Gemini Clearing to settle trade-offs with less risk, Gemini Custody to store and manage digital assets with them as a regulated custodian, and Gemini Dollar, a regulated and insured USD-backed stablecoin.
Who Is Gemini?
Gemini was founded back in 2014 to contribute to the cryptocurrency revolution and bring more choices, financial independence, and better opportunities to everyone.
With this in mind, the team built the Gemini crypto exchange and other products for both individuals and businesses to buy, sell, and store your bitcoin and cryptocurrency in a simple, elegant, and secure way.
The Gemini crypto exchange’s simplicity and usability won them the 2019 Markets Choice Award as “Best Crypto Exchange.”
When it comes to protecting your assets, note that they are a New York trust company regulated by the New York State Department of Financial Services (NYSDFS). Because of this regulation, the company is subject to capital reserve and cybersecurity requirements. They also must follow banking compliance standards set by both the NYSDFS and the New York Banking Law. They are also a fiduciary, SOC 1 Type 1 and SOC 2 Type 2 certified crypto exchange and custodian.
What Do They Offer?
As a crypto exchange and wallet, Gemini offers a secure and straightforward way to store, sell, and buy cryptocurrency, either from the web or mobile app. This is an overview of the different products they offer:
- Gemini Wallet: A safe digital wallet to store digital assets.
- Gemini Earn: Get paid interest daily from your crypto balance.
- Gemini Pay: Spend your crypto on partner retails and stores in the U.S.
- Gemini Credit Card: Get cashback on your purchases when using the credit card.
- Gemini Active Trader: If you are a more experienced trader, access the high-performance crypto exchange with more advanced features.
- Gemini Clearing: Acting as a third-party, they help you settle trade-offs to ensure timely settlements and lower your risks.
- Gemini Custody: Use them as regulated and certified custodian to store and manage your assets.
- Gemini Dollar: Built by them, it is a USD-backed regulated stablecoin you can use to spend or invest.
What Are The Fees?
They charge a commission for trading on the platform and a convenience fee, which depends on the amount of currency you buy. If you place an order through the web exchange or mobile app, there is also a flat transaction fee, a % of your order value. This flat fee changes depending on how much you are buying (the higher the amount, the higher the percentage)
For more advanced trading products like Active Trader, the fees are more complex, and Custodian accounts pay a % charge and some admin fees for withdrawals. All the Gemini fees are clearly stated on their website; you can view prices and fees for the different products there.
How To Get Started with Gemini Crypto Exchange
The process to open an account with Gemini is quite simple. After verifying your identity with some form of ID and set up a two-factor authentication to protect your account, you can start funding your account. To do that, you can link your bank account or card to transfer funds into the account.
After your account has been verified, you can start using the web crypto exchange to start trading or download the Gemini app to manage all your trades from the convenience of your phone.