Gemini is a New York-based, licensed digital asset exchange that also offers custodian services for digital assets. The exchange was launched in 2015 by prominent bitcoin investors Cameron and Tyler Winklevoss and ranks #12 on BlockExplorer’s Top 25 Exchanges of 2017 list. The exchange serves the U.S., U.K., Canada, Hong Kong, South Korea and Singapore.
The platform allows investors to trade BTC/USD, ETH/USD, and ETH/BTC. Its clean and easy-to-use interface is well suited for both beginners and advanced traders.
While a limited number of trading pairs might be a drawback for traders, the Winklevoss twins said their main 2018 goal for Gemini Exchange is expanding to other tokens such as Bitcoin Cash and Litecoin.
A major advantage of Gemini is their proactive approach to abide by regulations. In 2015, Cameron Winklevoss stated, “Our philosophy is to ask for permission, not forgiveness.” Before launching, it became a fully compliant and fully registered enterprise with FDIC coverage on client USD balances. It is also the first US exchange to be officially licensed for both ether and bitcoin trading making it one of the most legitimate exchanges in the world.
Gemini Exchange Summary:
Total trading pairs: 3
Deposit fees: No
Withdrawal fees: Free up to 10 withdrawals per month
Trading fees: 0.00% – 0.25%
Margin trading: No
Verification levels and deposit/withdrawal limits:
|Individual||ACH Daily Deposit/Withdrawal: $500/$10,000; ACH Monthly Deposit/Withdrawal: $15,000/$100,000; Cryptocurrency: No Limit|
|Institutional||ACH Daily Deposit/Withdrawal: $10,000/$10,000; ACH Monthly Deposit/Withdrawal: $300,000/$100,000; Cryptocurrency: No Limit|
Creating Your Account
Starting a new account at Gemini.com is simple — just go to the homepage and click on Register
Enter your full name, email address, and create a password — then select Create My Account
Open a new tab and check your email for an Activation Code, copy and paste it into the previous tab — then select Submit
Next is a three-step identity verification process:
- Link your cell phone number up with your account — this makes receiving login verification codes easy. Two-factor authentication is a standard requirement for most exchanges and enhances account security.
- Link your bank account using your online banking login credentials. The bank account must be in the same name as the new Gemini account holder. If you don’t want to fork over your login information, you can verify your bank account using a wire transfer instead.
- Finally, you must submit documentation that proves your identity and address, like a copy of a bank statement with your address clearly printed.
Conclusion: Is Gemini a Good Exchange?
Gemini has a solid reputation and suitable volume for institutional and individual investors. A smooth interface paired with real USD, regulatory compliance, and low fees makes Gemini an attractive alternative to Coinbase’s GDAX.