Gemini Crypto Platform

In-depth review and comparison

August 15, 2022


General Information

Gemini is a crypto exchange platform with which you can trade & hold more than 70 cryptocurrencies including Bitcoin & Ethereum. Headquartered in New York, Gemini was founded in 2013 and has become one of the biggest crypto exchanges globally in the rank with the likes of Coinbase and Binance. The service of Gemini is widely available: US, Canada, Europe, Hong Kong to make a few. To date, Gemini has over 13 million active users on the platform and it is known to be one of the more friendly options for casual traders. We will go through the pros and cons of Gemini to give you more clarity on whether it might be a good choice for you.

Warning! Investment is never without risk. You may lose your investment due to market risks involved.

Gemini: Quick Facts

Founded 2,013
Headquarters New York, US
Users 13'600'000
Official website gemini.com
Crypto 70 coins
Stocks N/A
Metals N/A
Card Mastercard
Gemini logo is very simple
Gemini logo is as straightforward as the exchange itself

Unlike many of its peers, Gemini has stood its ground and continues to position itself as a crypto exchange specialist with no sign to tap into other popular investment assets such as Stock/ETFs or precious Metals. The platform does have an extensive suite of products that help its customers to securely store their crypto assets, better manage their portfolio, access more complex trading functions and more. All things considered, Gemini is definitely a strong contender for anyone looking to get into cryptocurrency trading.

Products & Services available

It’s simple and straightforward with Gemini - Crypto is all you got. While it does seem to be somewhat limited comparing to some other platforms like Bitpanda that give you access to a range of investment assets, it does mean Gemini is very much focused in optimising its product for Crypto trading specifically. This can be great news if Crypto is or could be a key asset in your investment portfolio.

Cryptocurrencies

70+ coins

Regulated by the New York Department of Financial Services, Gemini allows you to trade its 70+ coins 24/7. The platform offers fee-free deposits (apart from through debit card transfer at 3.49%) and the first 10 withdrawals each calendar month is free as well. Trading transactions do come with a fee - ranging from $0.99 and 1.49% of total amount depending on the order amount when you trade with the mobile app. In addition to the standard cryptocurrencies, Gemini Dollar - a stable coin hedged against US dollar - is also available on the platform, which is a great option of asset to balance the risk profile of your portfolio.

NFTs

New!

With soaring trends in recent months, NFTs have become a popular choice of assets in crypto. You can trade and create NFTs with Nifty Gateway, an NFT specialist company owned by Gemini. The typical transaction fee is 5% of sale price and $0.30 transaction fee.

Gemini has a lot of assets to offer at very generous fees

Unique Features at Gemini

Today crypto exchanges are no longer a scarce existence, consumers have access to a wealth of options and each exchange is taking a slightly different approach in winning the loyalty of its customers. Aside from more competitive fees and wider selection of coins to trade in, platforms have also been dishing out innovate features to help users conduct more informed trades and get more out of the crypto assets in holding. Below we will take a look at some of the unique benefits you can expect from Gemini.

First-class security features

The decentralised nature of cryptocurrency demands high standards of security towards platforms with which you’re storing your crypto assets. Gemini claims to adopt a robust security infrastructure and internal control. The exchange is sufficiently confidence in the security setup of its hot (online/virtual) crypto wallet, as insurance is offered with using Gemini wallet for any losses resulted from a breach of security system. Taking it one step further, Gemini also has a Custody feature for cold (offline) storage of your crypto assets, providing an institutional-grade layer to the safety of your assets.

Gemini Earn

To help its customers get more out of the crypto they hold, the platform released Gemini Earn, enabling users to receive up to 8.05% APY on their cryptocurrency holding, including stablecoins. Essentially this is a savings account but for cryptos and the customers could potentially have great returns with stablecoins with relatively much lower volatility in Gemini Earn.

Cryptopedia

Cryptocurrency is a pretty new type of investment assets with jargon most casual retail investors would struggle with. In its endeavour to provide a smooth trading experience, Gemini has developed a learning hub called Cryptopedia where an extensive range of resources available explaining all the essential concepts and terms in the world of cryptocurrency trading. This is certainly a handy & valuable feature for anyone who are just starting to get into crypto.

Gemini quickly became a big name in crypto world

Pros & Cons of Gemini

Advantages

  • Industry-leading security: warranted by the decentralised nature of cryptocurrency, Gemini’s security setup does seem to be robust and trustworthy, with additional options for offline storage as well. This gives the necessary peace of mind to beginners who are still somewhat sceptical of this type of assets.
  • Customizable UI: from beginner-friendly mobile and web trading interfaces to to web interface for active traders, Gemini has options available for different types of crypto traders. This also means that if you’re a beginner starting out with Gemini, you won’t necessarily need to switch when you want to move to a more sophisticated trading interface.
  • Wide range of assets available: you can trade 70+ coins with Gemini and could also easily dip your toes into NFTs with Nifty Gateway owned by Gemini.

Disadvantages

  • Complex fee structure: there’s quite some room for simplification of its fee structure. With 10 different types of fees, it could get confusing quite quickly when customers start to use more of Gemini’s features and services..
  • Fees discouraging high deposits: the transaction fees are quite high for transactions that are over $200 - at 1.49% of the total volume, which can get expensive quite quickly. This also makes it difficult to take full advantages of opportunities in the market.
  • US-centric: naturally for a US-based company, Gemini’s new feature releases can still be somewhat US-centric. For example, its Gemini Pay and Credit Card features are so far only available in the US..
Bitpanda is available on all of your devices: desktop, tablet, iOS and Android

Gemini: Frequently Asked Questions

Is crypto held in my Gemini Wallet insured?

According to the platform’s terms, any theft or loss of assets due to a breach of security systems would be covered.

Is Gemini secure and convenient to use in Europe?

The short answer is: Yes. Gemini is regulated by the Financial Conduct Authority in the United Kingdom for services it provides to European countries.

How do I contact Gemini?

You can reach out to Gemini customer support on Gemini's official website: gemini.com.

Is Gemini beginner-friendly?

Its mobile app is quite easy to navigate and get started with. However as the exchange is specialised in crypto and has a wide range of features for advanced or serious crypto traders, it can get slightly overwhelming for total beginners.

Our verdict: Is Gemini a good choice for a crypto investor?

Based on comparison against other platform, we are confident in claiming that Gemini is a solid choice for someone with a strong interest in crypto. Gemini is solely focussed on crypto so you will get to experiment a lot more than simply buying and holding cryptocurrencies. The exchange is also known for its security features among its peers - which is a crucial guarantee to have in the crypto world. With a solid range of over 70 coins to trade with, Gemini is a pretty good option to start your crypto journey with. If you’re already familiar with crypto with some experience, Gemini also has the right tools for you such as the sophisticated web trading interface ActiveTrader and its Gemini Custody feature. While you might not get access to other investment assets with Gemini any time soon, there’s no doubt that the platform will continue innovating on new features that would help boost the growth of your crypto portfolio.

Warning! Investment is never without risk. You may lose your investment due to market risks involved.

You can access & manage your portfolios through Gemini’s iOS, Android and Web apps. The application itself is fairly hassle-free to get start with given its simple and straightforward UI. Gemini’s more sophisticated ActiveTrader web interface is also notably more neat comparing to many more old-fashioned clunky trading interfaces. If you are considering to give it a go, Gemini has a simple onboarding process (through Onfido) and you could easily test the waters with small trades under €25 which has a relatively low fee of €1.50.


Featured articles

Fintech Compass - Your financial navigator