- • Highly secure cryptocurrency exchange
- • High liquidity
- • Simple trading platform with various exchange solutions
- • Regulated exchange
- • Limited selection of digital assets
- • Not for everyone, primarily high profile traders
Gemini is a highly secure, liquid, and trusted cryptocurrency exchange based out of the United States. The Gemini exchange primarily attracts institutional and big money individual clients as they exchange facilitates electronic block trading which enables clients to buy and sell large quantities of digital assets outside of the order books. This development has attracted some of the largest and most successful investors to the Gemini exchange making Gemini one of the top 20 cryptocurrency exchanges by volume.
Gemini was founded in 2015 by the Winklevoss twins, famous for suing Mark Zuckerberg over Facebook, where they ended up getting $65 million and bought $11 million worth of Bitcoin. The Winklevoss twins believe in Bitcoin and its underlying technology and thus created one of the most liquid and trusted exchanges in the world. Gemini is based out of New York City, New York, United States and is a New York trust company regulated by the New York State Department of Financial Services (NYSDFS).
Very few cryptocurrency exchanges achieve regulation, making Gemini ahead of the pack in this regard. Gemini is a high quality and secure cryptocurrency exchange, but is it right for you? Find out in the following review where we’ll delve deep into the aspects that make up this cryptocurrency exchange and see what sets Gemini apart from the competition and whether or not they can be trusted.
The Gemini trading platform is very well designed, simple and easy to use. Rather than packing the platform with various advanced features, the Gemini platform provides a smooth, quick, and responsive experience. Key data for prices, orders, and balances are updated instantaneously allowing traders to stay focused and on top of their strategy. The platform supports 6 different order types including your standard Market and Limit orders, as well as Limit: Immediate or Cancel (IOC), Limit: Maker or Cancel (MOC), Limit: Auction Only Limit (AOL), and Limit: Indication of Interest (IOI). These various order types allow traders to execute orders exactly when and how they want.
Apart from the standard trading platform in which most individual traders buy and sell cryptocurrency, Gemini also features Block Trading and an Auction marketplace. These two trading options are unique in the cryptocurrency space and allow big players in the industry to buy and sell large amounts of cryptocurrency and favorable rates. For instance, Gemini’s Block Trading requires a minimum order of 10 BTC or 100 ETH. As for the Auction, traders have the opportunity to trade with elevated liquidity and price discovery, making it more favorable for large orders, rather than on the regular exchange platform.
The Gemini exchange is a simple yet sophisticated cryptocurrency exchange that facilitates the buying and selling of just two cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH). Traders can fund their accounts with US Dollars (USD) and trade both Bitcoin and Ethereum against each other or for USD. Therefore, the exchange markets are very limited with Gemini and is their greatest downfall. However, Gemini primarily serves a specialized market of highly professional and institutional traders, rather than smaller low liquidity traders.
Fees and Commission
The Gemini exchange has a very transparent fee structure which is outlined in great detail on the Gemini website. The fees imposed by Gemini are a dynamic maker-taker fee schedule which provides an institutional-grade trading experience. The fee structure is quite advanced and variable, but traders can be charged as low as a 0 bps (0.00%) fee on all market maker trades and be charged as low as a 10 bps (0.10%) fee on all taker trades. The fee rate in which a trader pays is also dependent on their trading volume in a 30 calendar day period. All the fee parameters are clearly outlined on the Gemini website.
Security and Fairness
The Gemini exchange is one of the most secure cryptocurrency exchanges in the world, as they make security a top priority. First off, Gemini is licensed and regulated by the New York State Department of Financial Services (NYSDFS) and therefore follows the most stringent rules for running a money services business. Also, the majority of customer digital assets (cryptocurrencies), are held in and offline vaulted cold storage, rather than in their online hot wallet. Gemini ensures full financial security by keeping clients funds segregated from their own in FDIC insured banks located in the US. Some additional security measure includes two factor authentication techniques for logging into your account as well as for making withdrawals and large trades. Also, strong passwords are required for all user accounts and all transmitted data is encrypted with the highest standards of encryption technology.
The customer support via support representatives is somewhat limited as the only support method is email support via an online contact form. However, this support method is usually the best for cryptocurrency exchanges and Gemini does their best to respond within a few hours. Additional methods of support include contact through Gemini’s social media channels including Facebook and Twitter. Also, traders will find the websites FAQ page and various pages on their website extremely helpful as they are packed with comprehensive information. Also, the Gemini blog is a good place to read up on information regarding the exchange.
The Gemini Cryptocurrency exchange is an excellent exchange for professional and institutional clients as it is a highly liquid and secure cryptocurrency exchange. The trading platform is simple and quick proving a seamless trading experience. The range of tradeable digital assets is very limited as only Bitcoin (BTC) and Ethereum (ETH) are available to trade. Gemini has various methods for trading these digital assets, through their trading platform, auctions, and block trading solutions. All in all, Gemini is a great cryptocurrency exchange for high profile traders looking to move large amounts of money in and out of Bitcoin or Ethereum.
The following are the common questions that customers inquired about Gemini.
Is Gemini regulated?
Yes, it is regulated by the New York State Department of Financial Services (NYSDFS).
Is Gemini a scam?
No, Gemini is a legit broker and is licensed in New York.
Where is Gemini based?
Gemini is located in New York City, New York, United States.