Gemini Review: Features, Security & More (2024)

What is Gemini?

Gemini is a cryptocurrency exchange founded by Cameron and Tyler Winklevoss in 2014, offering a secure platform for buying, selling, and storing digital assets. It is available in over 70 countries, including the United States, Canada, the United Kingdom, and several countries in Asia and Europe, providing services to 15 million users globally. 

With a focus on security and regulatory compliance, Gemini is certified under ISO 27001 and SOC 2 Type 2 standards and is regulated by the NYSDFS, FCA, FinCEN, OAM and Bank of Ireland. Additionally, Gemini provides services such as Nifty Gateway for NFTs, Gemini Dollar (GUSD) and Gemini Staking Pro for earning rewards. 

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Gemini Features

Gemini is one of the most popular cryptocurrency exchanges globally, offering a variety of tools and services to enhance their experience. Here are some features that outline its comprehensive offerings.

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Trading Types

Gemini provides access to a wide selection of cryptocurrencies, offering tools and trading types that accommodate different levels of expertise.

• Spot Trading: Gemini supports 140 cryptocurrencies, making it easy for users to buy and sell assets directly through the platform. 
• ActiveTrader: For more advanced users, it offers ActiveTrader, a high-performance platform with advanced charting, multiple order types like derivatives trading, and fast execution speeds.
• Gemini Clearing: This service allows two parties to settle trades off the order book, providing additional flexibility and reducing counterparty risk in pre-arranged transactions.

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Earn Options

The platform provides users with several ways to earn passive income on their crypto assets through staking services.

• Gemini Earn: Users can grow their holdings by earning up to 3.97% APY on selected cryptocurrencies, including Ethereum, Solana and Matic. This allows them to passively grow their assets without having to trade actively.
• Gemini Staking Pro: The staking service enables users to participate in blockchain networks and earn rewards for helping secure the network by depositing 32 ETH. 
• Gemini Dollar (GUSD): Gemini offers its regulated stablecoin, GUSD, which is pegged 1:1 to the US dollar. GUSD can be used for daily transactions or held to earn interest.

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Other Products

Gemini has developed several core products to enhance the user experience:

• Gemini Mobile App: The mobile app makes it easy to trade, monitor, and manage crypto portfolios on the go. It can be downloaded on both the Apple App Store and the Google Play Store.
• Nifty Gateway: As part of its expanding ecosystem, Gemini owns Nifty Gateway, a popular platform for buying, selling, and storing thousands of NFTs. 
• Gemini Custody: This service provides institutional-grade security for storing large amounts of digital assets, with multi-layer protection features that meet the highest industry standards.
• Gemini Credit Card: Integrating crypto with everyday spending, the Gemini Credit Card offers real-time crypto rewards on purchases. This card can be used at any merchant that accepts Visa payments.‍
• Institutional Services: Gemini offers tailored services for institutions through eOTC, including deep liquidity, competitive fees, and API access for high-frequency trading. These features, along with enterprise-grade security, make Gemini an attractive option for institutional investors.

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Is Gemini Safe?

Gemini has strong security measures and a clear commitment to regulatory compliance. The exchange uses multi-factor authentication and cold storage to protect user funds and personal information. It regularly publishes Proof of Reserves reports to ensure that all customer assets are backed 1:1. It operates under a strict regulatory framework and holds several key licenses, including:

• A New York Trust License from the New York State Department of Financial Services (NYSDFS).
• Registration as an Electronic Money Institution (EMI) and Virtual Asset Service Provider (VASP) with the Financial Conduct Authority (FCA) in the UK.
• A Virtual Currency Operator license from the Organismo Agenti e Mediatori (OAM) in Italy, providing services within the European Union under regulated guidelines.
• Registered and approved by the Hellenic Capital Market Commission in Greece.
• Additional licenses acquired include Ireland and Malta.

Though Gemini is not available in certain regions due to varying regulations, it complies with all local laws in its operating jurisdictions. The platform also enforces strict Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols to protect users and maintain operational integrity.

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Fees Schedule

Gemini’s fees vary depending on whether you use the web platform or mobile app, with a maker-taker model based on your 30-day trading volume. Here's a breakdown:

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Trading Fees

• Web Instant Orders: For web orders, you’ll pay $0.99 for orders up to $10 and 1.49% for orders over $200.
• Mobile Instant Orders: Fees on the mobile app are $0.99 for orders up to $10 and 1.49% for larger transactions. 
• Maker-Taker Fees: Maker fees start at 0.2%, while taker fees start at 0.4%. High-volume traders can enjoy lower rates, with maker fees dropping to 0% and taker fees to 0.03%.

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Deposit and Withdrawal Fees

• Crypto Deposits: Free.
• Crypto Withdrawals: Only standard network fees apply.
• Fiat Deposits and Withdrawals: ACH deposits are free, debit card deposits have a 3.49% fee.

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Crypto Conversions

• Gemini charges a 1.49% fee for converting between cryptocurrencies.

Gemini’s fee structure is transparent, with all fees clearly displayed before you trade.

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What is Gemini Crypto Credit Card?

The Gemini Crypto Credit Card, issued by WebBank, makes earning crypto as easy as making everyday purchases. With this card, you can earn up to 4% back on gas and EV charging, 3% on dining, 2% on groceries, and 1% on everything else. The instant rewards system sets it apart; crypto is deposited into your Gemini account right after each transaction instead of waiting until the end of the month.

You can choose to receive your rewards in Bitcoin, Ethereum, or from over 140 cryptocurrencies available on Gemini, giving you plenty of options. There’s no annual fee, no foreign transaction fees, and no extra charges for getting your crypto rewards. Plus, the card looks great, available in black, silver, or rose gold, and designed with advanced security.

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Bottom Line

In summary, Gemini is a trusted and secure cryptocurrency exchange, offering a wide range of services for both individual and institutional investors. With over 140 digital currencies, advanced trading tools, staking options, and the Gemini Credit Card for real-time crypto rewards, it provides a user-friendly platform backed by regulatory compliance and advanced security.