Gemini exchange was the first crypto platform to obtain SOC 1 Type 1 and SOC 2 Type 2 security certifications.
This company, offering +70 digital assets for trading, support hardware security keys [Yubikey and other brands] for 2-factor authentication on account sign in.
Gemini Information + Regulation Status
Founded in 2014 by the dynamic duo of Cameron and Tyler Winklevoss, Gemini is a cryptocurrency trading environment.
Operating under the legal name Gemini Trust Company, LLC., located at 600 Third Avenue, 2nd Floor, New York, NY 10016. This crypto exchange has grown to employ between 501-1000 individuals.
As a New York trust company, Gemini exchange it operates under the regulation of the New York State Department of Financial Services (NYSDFS). This exchange mentions these concepts as its 4 pillars:
- Product
- Security
- Licensing
- Compliance
Gemini Exchange Features and Specifics
This company's services and offerings are based on a set of parameters and specifications. You can see a summary of them in the table below:
Exchange | Gemini |
Launch Date | 2014 |
Levels | None |
Trading Fees | Varies |
Restricted Countries | Japan, China, Iraq, Afghanistan, Australia, etc. |
Supported Coins | +70 |
Futures Trading | Yes |
Minimum Deposit | Depends on the Method |
Deposit Methods | PayPal, Bank Transfers, Crypto |
Withdrawal Methods | Bank Transfers, Crypto |
Maximum Leverage | 100x |
Minimum Trade Amount | Differs by Asset |
Security Factors | Regular Bank Exams, Cybersecurity Audits by the NYSDFS, Hardware Security Keys, SOC Certifications, Insurance, 2FA |
Services | Native Stablecoin (Gemini Dollar), Staking, Credit Card, Nifty Gateway, Cryptopedia |
Customer Support Ways | Ticket, Email, Phone Call |
Customer Support Hours | 24/7 |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | N/A |
Native Token | GUSD |
Does Gemini Have a User Levels System?
Most crypto exchanges have tier systems for verified users, based on the documents and personal details provided.
However, the discussed platform does not employ any structure for this matter.
Commissions and Transaction Fees
Gemini exchange has taken 2 different approaches regarding trading fees, depending on the order type [Instant, Limit]. For Instant orders, there is this structure based on the order size:
Order Size | Transaction Fee |
$0+ | $0.99 |
$10+ | $1.49 |
$25+ | $1.99 |
$50+ | $2.99 |
$200+ | 1.49% of the Oder Value |
For Limit orders, the fee system is different, calculated based on the 30-day trading volume:
30-DAY TRADING VOLUME | TAKER FEE | MAKER FEE |
0 | 0.40% | 0.20% |
≥ $10,000 | 0.30% | 0.10% |
≥ $50,000 | 0.25% | 0.10% |
≥ $100,000 | 0.20% | 0.08% |
≥ $1,000,000 | 0.15% | 0.05% |
≥ $5,000,000 | 0.10% | 0.03% |
≥ $10,000,000 | 0.08% | 0.02% |
≥ $50,000,000 | 0.05% | 0.00% |
≥ $100,000,000 | 0.04% | 0.00% |
≥ $500,000,000 | 0.03% | 0.00% |
Furthermore, there is a specific structure for perpetual fees, depending on the trailing 30-day average daily volume:
Trailing 30D ADV (USD) | Maker fee | Taker fee |
0 | 0.02% | 0.07% |
≥ $10,000 | 0.02% | 0.06% |
≥ $50,000 | 0.02% | 0.05% |
≥ $5,000,000 | 0.01% | 0.04% |
≥ $10,000,000 | 0.00% | 0.04% |
≥ $50,000,000 | -0.01% | 0.04% |
≥ $100,000,000 | -0.01% | 0.03% |
Note that negative fees are actually rebates paid to the trader. Liquidation orders are charged with a 0.5% fee.
Stablecoin trading commissions are at a fixed rate of 0.01% for taker and 0% for maker.
Regarding transfers, there are commissions in cases listed below:
- 5% for fiat deposits via PayPal
- $25 for USD withdrawals via Wire transfers
- 3 SGD for withdrawals made through FAST transfers
There are no charges for deposits and withdrawals via other methods. Also, no fee for crypto deposits is charged by the exchange.
However, a Dynamic Fee is applied for cryptocurrency withdrawals, depending on the blockchain.
Available Coins/Tokens for Trading
Gemini offers a mediocre range of over 70 cryptocurrencies, including:
- Bitcoin [BTC]
- Ethereum [ETH]
- Litecoin [LTC]
- Bitcoin Cash [BCH]
- Zcash [ZEC]
- Dogecoin [DOGE]
- Sui [SUI]
- Sandbox [SAND]
- Aave [AAVE]
- Compound [COMP]
There are longer lists in some other, larger crypto platforms.
Gemini Exchange Futures Trading
This platform offers futures trading features to its traders with these main specifics:
- Exposure to assets without necessarily holding them
- Long/short positions
- Cross collateral allowing traders to use other assets than GUSD
- Perpetual contracts
- Leverage of up to 100x
As stated on the website, this service is not available to the residents of the United States, the United Kingdom, and the EU countries.
Account Registration and Verification on Gemini
Creating an account with this exchange is a procedure with several stages. Here is a brief, helpful guide:
- Visit the exchange's website and click on "Get Started";
- Choose your account type, then provide your name and email address, and create a complex password;
- Select your location and language;
- Agree with the privacy policy and user agreements after reading them;
- After clicking on "Create Account", check your email for the confirmation link;
- Verify your email address;
- Provide a phone number for 2-FA;
- Complete your financial profile;
- Submit the required documents for identity verification.
Now, you have created your account on the platform.
Safety and Security Measurements in Gemini Crypto Exchange
Security is vital when it comes to users' funds, and Gemini takes this responsibility seriously. The exchange implements several measures to protect user funds and data:
- Two-factor authentication (2FA)
- Address whitelisting
- Hardware security keys support
- SOC 1 Type 1 and SOC 2 Type 2 (first certified crypto exchange), plus an ISO 27001 certifications
- Insurance coverage for digital assets
Additionally, Gemini undergoes regular bank exams and cybersecurity audits by the NYSDFS, further ensuring the platform's security and compliance.
Fundings: Does Gemini Support Fiat Deposits?
This crypto platform supports 5 payment methods for depositing and withdrawing funds:
- ACH
- Wire transfers
- PayPal (Deposits Only)
- SGD FAST transfers
- Crypto blockchain transactions
As it appears, the company accepts fiat deposits from users.
Trust Evaluation Scores on Reliable Sources
While Gemini is a regulated and reputable exchange, it's important to consider user feedback and trust scores on Trustpilot, CoinGecko, and other relevant websites:
- Trustpilot: 1.2/5 (1000+ reviews)
- io: 1.4/5 (60+ reviews)
- ScamAdviser: 1/100 Trustscore, 1.2/5 user evaluations (1200+ ratings)
- CoinGecko: 8/10, evaluated based on the company's algorithms
The discrepancy between the low user ratings and CoinGecko's high score suggests that while the platform itself may be reliable, some users have experienced issues, possibly related to customer support or technical difficulties.
Copy Trading and Investment Options on Gemini Exchange
This company offers passive income opportunities through its staking service, which allows users to earn interest of up to 4.11% APR on their cryptocurrency holdings.
However, the exchange does not currently offer copy trading features. At the time of writing this article, there are 3 digital assets available for staking:
- Polygon [MATIC] with a 4.11% APR
- Ethereum [ETH] with a 3.6% APR
- Solana [SOL] with an APR of 2.38%
Writer's Opinion and Conclusion
Gemini exchange with a native stablecoin named Gemini Dollar [GUSD] and a staking service with an APR of up to 4.11%, has received a 1.2/5 score on Trustpilot, based on over 1,000 user reviews.
On the other hand, "CoinGecko" has given a 8/10 trust score to the platform.
