GEMINI

Overview of GEMINI

GEMINI, a U.S.-based virtual currency exchange established in 2014 and regulated by the NYSDFS, offers a diverse range of cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Exclusively avoiding margin trading and leverage, GEMINI operates through its user-friendly Gemini Trading App available on mobile and web platforms. Committed to education, the Gemini Academy provides resources for cryptocurrency trading. With a strong emphasis on regulatory compliance and security, GEMINI is overseen by multiple agencies, including NMLS, FCA, and NYSDFS, instilling confidence in users. Despite a thorough verification process, its focus on security and user support positions GEMINI as a reliable choice in the virtual currency landscape.

Pros and Cons

Security

GEMINI has implemented various security measures to protect user assets. One important aspect is the platform's regulatory compliance, which helps ensure the security and legitimacy of the exchange. GEMINI is regulated by multiple agencies, including the Nationwide Multistate Licensing System (NMLS), the Financial Conduct Authority (FCA), and the New York State Department of Financial Services (NYSDFS). These regulatory bodies set standards and conduct audits to ensure the safety of user funds.

In addition to regulatory oversight, GEMINI prioritizes the safety of customer funds by offering cryptocurrency custody services. This reduces the risk of theft or loss and provides an added layer of protection.

While it is difficult to provide specific user feedback, GEMINI has gained a reputation for its focus on security and transparency. The exchange has not experienced any major security breaches or hacks, which can be seen as a positive indication of its security protocols.

Trading Market

Gemini operates a bustling trading market that caters to a wide range of traders, from beginners to experienced professionals. Its expansive marketplace encompasses a variety of trading products and services, providing traders with the flexibility and tools they need to navigate the dynamic cryptocurrency landscape.

Spot Trading Market

At the heart of Gemini's trading market lies the spot trading market, where users can buy, sell, and trade cryptocurrencies at prevailing market prices. The spot trading market offers a diverse selection of over 70 cryptocurrencies, including established blue-chip coins like Bitcoin (BTC) and Ethereum (ETH), emerging altcoins, and DeFi tokens.

Futures Trading Market

For traders seeking to speculate on the future price of cryptocurrencies, Gemini's futures trading market provides a sophisticated platform with leveraged positions. Popular futures trading assets include Bitcoin Futures (BTC) with up to 150x leverage and Ethereum Futures (ETH) with up to 100x leverage. USDT-Margined Futures offer flexibility and risk management options by using USDT as collateral.

Lending and Staking Market

Gemini's lending and staking market enables users to generate passive income on their cryptocurrency holdings. By lending cryptocurrencies to borrowers, users can earn interest payments. Staking certain cryptocurrencies allows users to participate in validating blockchain transactions and receive rewards.

Over-the-Counter (OTC) Trading

For institutional clients and large-volume traders, Gemini's OTC trading desk provides a customized approach to trading cryptocurrencies. OTC trading facilitates block trades, allowing for the execution of large orders with minimal impact on market prices.

Gemini Dollar (GUSD) Market

Gemini Dollar (GUSD), a stablecoin issued and backed by Gemini, plays a crucial role in the trading market. Its peg to the US dollar provides stability and serves as a reliable medium of exchange for cryptocurrency transactions.

Gemini's trading market stands out for its liquidity, tight spreads, and robust security measures, ensuring a reliable and efficient trading experience for its diverse user base.

Cryptocurrencies available

GEMINI offers a variety of cryptocurrencies for trading. Some of the cryptocurrencies available on GEMINI include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Zcash (ZEC), Orchid (OXT), Chainlink (LINK), Compound (COMP), Basic Attention Token (BAT), and Dai (DAI).

Cryptocurrency prices can be subject to fluctuations on exchanges, as they are influenced by various factors such as market demand and supply. It is important for users to stay updated on the latest cryptocurrency prices and market trends when engaging in trading activities.

Services

Gemini offers a suite of services that extend beyond mere cryptocurrency buying and selling. These services cater to various aspects of cryptocurrency ownership and management, providing users with a holistic and convenient experience.

Gemini Wallet:

Gemini's secure and user-friendly wallet allows users to store, send, and receive a variety of cryptocurrencies. The wallet offers robust security measures, including two-factor authentication and multi-signature support, to safeguard users' digital assets.

Gemini Credit Card:

The Gemini Credit Card, issued by WebBank, enables users to earn crypto rewards on everyday purchases. Cardholders can earn 3% crypto back on dining, 2% crypto back on groceries, and 1% on all other eligible transactions. Rewards can be redeemed in over 60 cryptocurrencies, expanding users' crypto holdings passively.

Staking and Lending Services:

Gemini's staking and lending services provide opportunities for users to earn passive income on their crypto holdings. By staking certain cryptocurrencies, users can participate in validating blockchain transactions and receive rewards. Lending allows users to lend their cryptocurrencies to borrowers and earn interest payments.

Gemini Dollar (GUSD):

Gemini Dollar (GUSD), a stablecoin issued and backed by Gemini, offers a stable asset pegged to the US dollar within the cryptocurrency market. GUSD serves as a reliable medium of exchange and can be used to hedge against the volatility of other cryptocurrencies.

Institutional Services:

Gemini caters to institutional clients with a suite of tailored services, including custody, eOTC trading, and customized solutions for businesses, private wealth, professional traders, and fintechs.

Custody Services: Gemini's institutional-grade custody service safeguards institutional clients' digital assets with industry-leading security measures.

eOTC Trading: Gemini's eOTC (electronic Over-the-Counter) trading desk facilitates large-volume cryptocurrency transactions for institutional clients.

Businesses and Private Wealth: Gemini partners with businesses and private wealth management firms to integrate cryptocurrency into their investment strategies and client portfolios.

Professional Traders: Gemini caters to professional traders with advanced trading tools and features, including ActiveTrader, API access and Competitive fees.

Institutional Investors: Gemini provides institutional investors with secure and compliant access to a diverse range of cryptocurrency investment products, including Spot trading, Futures trading, Lending and staking.

Fintechs and Banks: Gemini partners with fintech companies and banks to facilitate the adoption of cryptocurrency into their financial services offerings.

GEMINI APP

The Gemini app is a mobile application that allows users to buy, sell, and trade cryptocurrencies. It is a user-friendly and secure platform that is available on both iOS and Android devices. The app offers a variety of features, including:

A simple and intuitive interface that is easy to use

A variety of order types, including market orders, limit orders, and stop-loss orders

Real-time market data for all supported cryptocurrencies

The ability to set up price alerts

A built-in wallet for storing cryptocurrencies

24/7 customer support

How to open an account？

The registration process of GEMINI consists of the following steps:

1. Visit the GEMINI website and click on the “Get Started” button to begin the registration process.

2. Provide your email address and create a strong and secure password for your GEMINI account.

3. Verify your email address by clicking on the verification link sent to your registered email.

4. Complete the KYC (Know Your Customer) process by providing your personal information, including your full name, date of birth, and residential address.

5. Upload a copy of your government-issued identification document, such as a passport or driver's license, to verify your identity.

6. Once your identity is verified, you can proceed to set up two-factor authentication for an added layer of security for your GEMINI account.

By following these steps, you can successfully register and create your account on GEMINI to start trading cryptocurrencies.

How to Buy Cryptos？

Below is a detailed, step-by-step guide on how to purchase cryptocurrencies on GEMINI:

How to Buy Cryptos on the Web Interface:

Navigate to the Market page and choose your desired cryptocurrency.

Click on “Buy” and decide between a one-time purchase (Once) or a Recurring buy.

Enter the amount you wish to buy and click “Continue.”

Choose your preferred payment method, then proceed to the confirmation screen.

Review your order details and, if satisfied, click “Confirm” to execute the order instantly.

How to Buy Cryptos on the App:

Tap on the “Market” tab at the bottom left of your screen.

Choose the cryptocurrency you want to purchase.

Tap “Trade,” then “Buy.”

Opt for a Single buy or Recurring buy.

Enter the purchase amount and tap “Continue” to select your payment method.

Review your trade on the next screen and “Swipe to confirm” for the order to execute instantly.

Fees

Below is an in-depth overview of the trading fees structure on Gemini:

ActiveTrader Fee

The ActiveTrader fee schedule is based on your 30-day trailing trading volume. For those with a notional volume below $10,000, the Taker Fee stands at 0.40%, with a Maker Fee of 0.20%. As trading volume increases, the fees progressively decrease, showcasing a commitment to incentivizing higher activity. Notably, for substantial volumes exceeding $500,000,000, both Taker and Maker Fees reach a minimal 0.03%, providing a competitive edge for high-volume traders. This tiered approach ensures a dynamic and fair fee structure, encouraging users to engage in diverse trading activities on the Gemini platform.

Web Fee

Gemini's Web Fee Schedule applies to all website orders, encompassing a Convenience Fee and a Transaction Fee. Prior to order placement, users receive a Quoted Price, inclusive of the Convenience Fee. The Transaction Fee, dependent on the order amount, is transparently displayed. See the provided Fee Examples for detailed breakdowns.

Mobile Fee

The Mobile fee schedule is identical to the Web fee schedule.

Custody Fee

The custody fee is 0.4% or $30 per month per asset.

Deposit & Withdrawal

Gemini supports a variety of payment methods, including:

ACH Transfers: ACH transfers are the most common form of bank transfer in the United States. They typically take 4-5 business days to settle, but funds are typically available for trading instantly (at Gemini's discretion).

Wire Transfers: Wire transfers are a faster way to deposit funds, typically taking 1-3 business days to settle. Funds are also available for trading instantly (at Gemini's discretion).

Debit Cards: Debit cards can be used to make instant purchases of cryptocurrencies. However, funds will not be available for withdrawal for 24 hours.

Google/Apple Pay: Google/Apple Pay can also be used to make instant purchases of cryptocurrencies. Funds are also available for trading instantly.

Bank Transfer (EUR and GBP): Bank transfers in EUR and GBP are available to residents of the European Union and the United Kingdom. They typically take 1-3 business days to settle and are available for trading instantly.

FAST transfer (SGD): FAST transfers in SGD are available to residents of Singapore. They typically take up to 48 hours to settle and are available for trading instantly.

PayPal: PayPal is available to residents of the United States and Canada. Deposits typically take 1-5 business days to settle and are available for trading instantly. Withdrawals to PayPal are not supported.

CBIT™: CBIT™ is available to residents of the United States. Deposits and withdrawals are instant.

Plaid Direct Payments (UK): Plaid Direct Payments are available to residents of the United Kingdom. They typically take 1-2 business days to settle and are available for trading instantly (at Gemini's discretion).

The minimum deposit for all payment methods is $100. However, the minimum deposit for PayPal is $25.

Gemini charges a variety of fees, including:

Platform Fee: A 3.49% platform fee is charged on all instant purchases made with a debit card or Google/Apple Pay.

Trading Fees: Trading fees are charged on all trades. The trading fee schedule is based on your 30-day trailing trading volume.

Withdrawal Fees: Withdrawal fees are charged on all withdrawals. The withdrawal fee schedule is based on the payment method.

Payment processing times vary depending on the payment method. The following table summarizes the payment processing times for each payment method: