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Gemini Review 2021

This review probes the Gemini's safety by checking its regulation status and security measures imposed by the exchange. We also look at available trading platforms, the transaction fees, deposit and withdrawal options, and list all the supported countries and cryptocurrencies.

Author: Edith Reads Last updated: 04/10/2021

Summary

Gemini is an online cryptocurrency exchange that is well known for its multiple crypto trading solutions under one roof. Founded by twin brothers Cameron and Tyler Winklevoss, Gemini is one of the most legitimate cryptocurrency exchanges available online. Not to mention, Gemini holds a unique identity amongst crypto exchanges due to being owned by the Olympian twins who sued Mark Zuckerberg over Facebook in one of the most enchanted social media controversies. In this piece, we cover everything about the exchange in detail.

Pros & Cons

Before we take a look at the services offered by the exchange, let us quickly enlist a few pros and cons of using the Gemini exchange.

Advantages of Gemini

  • Gemini keeps only a fraction of crypto assets in hot wallets.
  • The exchange offers insurance under the FDIC scheme.
  • The exchange is well compliant with banking standards.
  • Gemini offers excellent customer support.
  • The exchange has a user-friendly trading interface.

Disadvantages of Gemini

  • Gemini has a lengthy process for account registration.
  • The exchange sometime goes down in the time of high volatility.
  • The exchange holds a limited product portfolio.
  • Gemini has only a few payment methods available.
  • The exchange employs high structured fee schedule.

Pros

Crypto Storage – Gemini keeps most of its digital currencies in cold storage. That means there is no chance for intruders to access your digital assets. Gemini cold storage options make the exchange to be one of the safest crypto exchanges available online.

FDIC Insurance – The exchange offers an insurance plan in registration with Federal Deposit Insurance Corporation for accounts having base currency as U.S. Dollars.

Banks Compliance – Gemini is fully compliant with banking sector regulations concerning funds management that make it well suited for individuals and corporate clients.

Customer Support – Unlike other crypto exchanges, Gemini offers next-level customer support. Clients can reach the company using multiple communication channels, including email, webchat, and telephone. You can also raise your concerns with the exchange on different social media platforms, such as Facebook, Twitter, and Instagram.

User-Friendly Interface – Gemini offers easy to use trading interface. The self-explanatory tabs and options on the trading interface guide clients to navigate across the platform conveniently.

Cons

Lengthy Registration Process – Gemini account setup can be inconvenient to some users. It asks for too many details to complete the KYC process.

Goes Offline – We’ve noticed that the exchange sometimes goes offline. Usually, it happens in the time when the crypto market is said to have high liquidity levels. One of the reasons could be the overwhelming number of users connecting to the exchange, making servers overloaded to handle such increased traffic.

Limited Product Portfolio – The exchange offers a limited number of cryptocurrencies to trade. However, it still supports nearly 50 crypto assets, including coins and tokens.

Fewer Payment Options – Gemini doesn’t offer too many options for funds deposit and withdrawals. Clients have to rely upon payments through debit/credit cards, wire transfers, and ACH transfers.

Expensive Fee Structure – The exchange has a costly fee structure in place. Its trading model is based on the dual fee-charging mechanism. The company also charges a convenience fee in addition to the trading fees. That makes the overall trading fees much higher as compared to its competitor crypto exchanges. However, clients might be entitled to receive cash rebates based on their monthly traded volumes.

Regulations, Offices & Supported Countries:

Regulations

Gemini holds regulation in multiple jurisdictions around the world. In the United States, the company has a license by the New York State Department of Financial Services (NYDFS). The exchange holds regulations from the Financial Conduct Authority (FCA) in the United Kingdom.

Offices

With a professional team of nearly 200 employees, Gemini has several offices located across multiple cities including, Chicago, Portland, Oregon. The company’s headquarter is in New York City.

Supported Countries

Gemini accepts customers from more than 50 countries around the world. Given below is the table of supported countries at Gemini.

Argentina Australia Austria
Bulgaria, Canada Cayman Islands Chile
Denmark, Egypt Estonia Finland
Hungary Iceland India
Jersey Latvia Liechtenstein
Myanmar Netherlands New Zealand
Philippines Poland Portugal
Slovenia South Africa South Korea
Taiwan Turkey United Kingdom

List of Coins and Crosses

Gemini supports listed below fiat currencies, coins and crypto crosses:

List of Fiat Currencies

  1. U.S. Dollar (USD)
  2. Australian Dollar (AUD)
  3. European Euro (EUR)
  4. Great Britain Pound (GBP)
  5. Canadian Dollar (CAD)
  6. Singapore Dollar (SGD)
  7. Hong Kong Dollar (HKD)
Bitcoin Tezos 0x
Ether Synthetix Curve
Polkadot Dai Enjin Coin
Cardano Cosmos Kyber Network
Ripple Maker Decentraland
Chainlink Compound Balancer
Litecoin Filecoin Golem
Bitcoin Cash Solana Keep Network
Dogecoin Yearn.finance Numeraire
Stellar Zcash Orchid
Uniswap Uma PAX Gold
Wrapped Bitcoin Ren Storj
Aave OmiseGo Loom
EOS Basic Attention Token Bread
Caspian Wrapped Nexus Mutual tBTC
Flexacoin Amp

List Of Crosses

BTC/DAI LTC/BCH ZEC/BCH
ETH/BTC OXT/BTC BCH/BTC
ETH/DAI OXT/ETH BCH/ETH
ZEC/BTC BAT/BTC BCH/LTC
ZEC/ETH BAT/ETH LTC/BTC
ZEC/LTC LINK/BTC LTC/ETH
LINK/ETH

Trading Fees

As far as trading fees at Gemini is concerned, it is relatively higher than its competitors. Also, it varies depending upon the currency selection. The exchange charges you anywhere from $1 to $3 for trading crypto up to the worth of $200. Volume traded above $200 carries a 1.49% fee on the orders placed.

In addition to charging the basic fee for trading, the exchange also charges a convenience fee take makes the total trading cost exceed the average industry standards. Please note that the trading fee might also be different on orders placed through the mobile app. Given below tables might help you better understand the fee schedules at Gemini.

Fee Applicable on Orders Placed Via Web/Desktop Trader for United Kingdom

WEB ORDER AMOUNT – GBP TRANSACTION FEE¹ – GBP
Less than or equals to £7.50 £0.75
More than  £7.50 but less than or equals to £20.00 £1.25
More than  £20.00 but less than or equals to £50.00 £2.00
More than £50.00 but less than or equals to £150.00 £2.25
More than  £150.00 1.49% of your Web Order value

Fee Applicable on Orders Placed Via Web/Desktop Trader for Europe

WEB ORDER AMOUNT – EUR TRANSACTION FEE¹ – EUR
Less than or equals to €10.00 €1.00
More than €10.00 but less than or equals to €25.00 €1.50
More than €25.00 but less than or equals to €50.00 €2.00
More than €50.00 but less than or equals to €200.00 €3.00
More than €200.00 1.49% of your Web Order value

Fee Applicable on Orders Placed Via Web/Desktop Trader for Australia

WEB ORDER AMOUNT – AUD TRANSACTION FEE¹ – AUD
Less than or equals to $15.00 $1.50
More than $15.00 but less than or equals to $35.00 $2.20
More than $35.00 but less than or equals to $75.00 $3.00
More than $75.00 but less than or equals to $250.00 $4.50
More than $250.00 1.49% of your Web Order value

Fee Applicable on Orders Placed Via Web/Desktop Trader for United States

WEB ORDER AMOUNT – USD TRANSACTION FEE¹ – USD
Less than or equals to $10.00 $0.99
More than $10.00 but less than or equals to $25.00 $1.49
More than $25.00 but less than or equals to $50.00 $1.99
More than $50.00 but less than or equals to $200.00 $2.99
More than $200.00 1.49% of your Web Order value

Fee Applicable on Orders Placed Via Web/Desktop Trader for Canada

WEB ORDER AMOUNT – CAD TRANSACTION FEE¹ – CAD
Less than or equals to $15.000 $1.49
More than $15.00 but less than or equals to $50.00 $2.99
More than $50.00 but less than or equals to $100.00 $3.99
More than $100.00 but less than or equals to $250.00 $4.99
More than $250.00 1.49% of your Web Order value

Fee Applicable on Orders Placed Via Web/Desktop Trader for Hong Kong

WEB ORDER AMOUNT – HKD TRANSACTION FEE¹ – HKD
Less than or equals to $100.00 $10.00
More than $100.00 but less than or equals to $200.00 $12.00
More than $200.00 but less than or equals to $500.00 $20.00
More than $500.00 but less than or equals to $1500.00 $24.00
More than $1500.00 1.49% of your Web Order value

Fee Applicable on Orders Placed Via Web/Desktop Trader for Singapore

WEB ORDER AMOUNT – SGD TRANSACTION FEE¹ – SGD
Less than or equals to $15.00 $1.50
More than $15.00 but less than or equals to $35.00 $2.00
More than $35.00 but less than or equals to $70.00 $2.75
More than $70.00 but less than or equals to $250.00 $4.00
More than $250.00 1.49% of your Web Order value

Fee Applicable on Orders Placed Via Mobile Trading Platform for United Kingdom

MOBILE ORDER AMOUNT – GBP TRANSACTION FEE – GBP
Less than or equals to £7.50 £0.75
More than £7.50 but less than or equals to £20.00 £1.25
More than £20.00 but less than or equals to £50.00 £2.00
More than £50.00 but less than or equals to £150.00 £2.25
More than £150.00 1.49% of your Mobile Order value

Fee Applicable on Orders Placed Via Mobile Trading Platform for Europe

MOBILE ORDER AMOUNT – EUR TRANSACTION FEE – EUR
Less than or equals to €10.00 €1.00
More than €10.00 but less than or equals to €25.00 €1.50
More than €25.00 but less than or equals to €50.00 €2.00
More than €50.00 but less than or equals to €200.00 €3.00
More than €200.00 1.49% of your Mobile Order value

Fee Applicable on Orders Placed Via Mobile Trading Platform for Australia

MOBILE ORDER AMOUNT – AUD TRANSACTION FEE – AUD
Less than or equals to $15.00 $1.50
More than $15.00 but less than or equals to $35.00 $2.20
More than $35.00 but less than or equals to $75.00 $3.00
More than $75.00 but less than or equals to $250.00 $4.50
More than $250.00 1.49% of your Mobile Order value

Fee Applicable on Orders Placed Via Mobile Trading Platform for United States

MOBILE ORDER AMOUNT – USD TRANSACTION FEE – USD
Less than or equals to $10.00 $0.99
More than $10.00 but less than or equals to $25.00 $1.49
More than $25.00 but less than or equals to $50.00 $1.99
More than $50.00 but less than or equals to $200.00 $2.99
More than $200.00 1.49% of your Mobile Order value

Fee Applicable on Orders Placed Via Mobile Trading Platform for Canada

MOBILE ORDER AMOUNT – CAD TRANSACTION FEE – CAD
Less than or equals to $15.00 $1.49
More than $15.00 but less than or equals to $50.00 $2.99
More than $350.00 but less than or equals to $100.00 $3.99
More than $100.00 but less than or equals to $250.00 $4.99
More than $250.00 1.49% of your Mobile Order value

Fee Applicable on Orders Placed Via Mobile Trading Platform for Hong Kong

MOBILE ORDER AMOUNT – HKD TRANSACTION FEE – HKD
≤ $100.00 $10.00
More than $100.00 but less than or equals to $200.00 $12.00
More than $200.00 but less than or equals to $500.00 $20.00
More than $500.00 but less than or equals to $1500.00 $24.00
More than $1500.00 1.49% of your Mobile Order value

Fee Applicable on Orders Placed Via Mobile Trading Platform for Singapore

MOBILE ORDER AMOUNT – SGD TRANSACTION FEE – SGD
≤ $15.00 $1.50
More than $15.00 but less than or equals to $35.00 $2.00
More than $35.00 but less than or equals to $70.00 $2.75
More than $70.00 but less than or equals to $250.00 $4.00
More than $250.00 1.49% of your Web Order value

ACTIVE TRADER FEES

VOLUME TRADED PER 30 DAYS  (U.S DOLLAR) TAKER FEES MAKER FEES AUCTION FEES
0 0.35% 0.25% 0.25%
More than or equals to $500,000 0.25% 0.15% 0.20%
More than or equals to $2,500,000 0.25% 0.15% 0.10%
More than or equals to $5,000,000 0.15% 0.10% 0.10%
More than or equals to $10,000,000 0.15% 0.10% 0.00%
More than or equals to $15,000,000 0.10% 0.00% 0.00%
More than or equals to $50,000,000 0.075% 0.00% 0.00%
More than or equals to $100,000,000 0.05% 0.00% 0.00%
More than or equals to $250,000,000 0.04% 0.00% 0.00%
More than or equals to $500,000,000 0.03% 0.00% 0.00%

Trading Platforms, Account Opening & How to Buy Crypto:

Gemini Desktop Trading Platform:

Gemini strives hard to maintain simplicity with elegance making its products look promising and convenient. That also makes sense for the Gemini desktop trading platform. The exchange has recently introduced an upgraded version of its trading platform. With the newly designed trading interface, it is no easy for users to manage their accounts, keep an eye on the crypto markets, and earn some rewards through the referral programs hosted by the exchange.

As soon as you log in to your account, a fresh look at the dashboard makes you feel contended. With only a few buttons to click, the exchange has kept the home screen of its trading interface look simple.

My Portfolio

Clients can view their account balances under the My Portfolio tab. It also reflects the ever-changing percentage of crypto assets. Traders also have the option to click on a specific crypto asset to view other information in detail. You can also view the past performance of your favorite crypto by accessing the chart. At present, the exchange offers the charting option in five-time frames.

Market Moves

Market moves enable clients to keep a track of the price change of a specific asset. It makes clients have a close look at the crypto markets. The option to view each asset, along with all the relevant information, including price variation and market capitalization, is also available under the market moves tab.

Refer a Friend

Clients can earn rewards under the refer a friend program. You only need to copy the exchange’s unique link and share it with your friends and family. After opening an account, your referral needs to buy or sell $100 worth of crypto assets. Doing so will earn him/her bitcoin worth $10. The reward is instantly credited to both referee and the referral account. Please note that your referral needs to carry out the transaction within 30 days of account activation to claim the reward. Also, there is no limit on introducing referrals.

How to Open an Account with Gemini on a Desktop?

To open an account with Gemini on the desktop, you can follow the listed steps.

Step 01: Visit the official webpage of the exchange. Click on the get started button available on the top right corner of the webpage.

Step 02: Enter your details on the registration form, including your first, and last name, email id, and password. After that tick mark, the checkboxes confirming that you agree to the terms and conditions apply.

Step 03: Check your email ID; click on the link received from the exchange to verify your email id. You are likely to be redirected to the next page to continue with the signing up process.

Step 04: Enter your phone number. Please be informed that you can’t proceed with the account registration process until you mention your mobile phone number.

Step 05: Enter the seven-digit code received on your mobile phone number and click next to finish the account setup process.

How to Buy Crypto with Gemini on Desktop?

To buy cryptos on Gemini with the desktop trading platform is simple. You need to follow the given below 03 steps;

Step 01: Sign in to your account using your login credentials.

Step 02: Access the market tab to start buying your favorite crypto assets. Select the cryptocurrency you wish to purchase, and indicate the frequency of purchasing it per month. You can leave it blank.

Step 03: Enter the amount you want to buy and click on the review order button. Check your transaction details. If all things seem to be in line, click next to proceed to the payment page.

Step 04: Select your preferred payment method from the drop-down list of available payment methods. In case you select payment through debit/credit cards, you need to enter the first and last name of the cardholder, the expiry date of the card, and the three-pin security code from the back of the card.

Step 05: Click next to complete the purchasing process. You will receive a notification SMS from your source bank confirming the status of your transaction. You can return to the dashboard to check your account balance. Your bitcoins should reflect there instantly.

Gemini Mobile Trading App (Available on IOS & Google Play)

Considering the needs of on-the-go users, Gemini brings the exchange to the power of your hands. The app comes with most of the features offered through the desktop version. The app works both ways, a gateway to access the market and a custodian wallet to buy, sell, and store your crypto assets. It also helps you track asset prices, following real-time market moves and trends.

It is worth mentioning here that the exchange tends to be as compliant as possible. Therefore, you to complete the KYC process as well before you could start trading.

Clients can also create a price alert so they may never miss a trading opportunity. All they have to do is to mention a strike price. As soon as the desired price reaches, push notification alerts you to grab your profit-making opportunity.  Using the mobile app, clients can buy their favorite crypto assets in less than 03 minutes.

How to Open an Account with Gemini on Gemini Mobile App?

To sign up with Gemini on the mobile trading app is simple. Just follow the steps listed below.

Step 01: Download the app from your respective app store, and install it on your mobile device. The app is compatible with both mac and android operating systems.

Step 02: Enter your details on the registration form and click next to continue. You need to enter your full name and email id.

Step 03: Check your email, click on the link received from the exchange to validate the email id.

Step 04: Enter your mobile phone number, and insert the seven-digit pin code received on your mobile from the Gemini.

Step 05: Click next to finish the signing-up procedure. You may save your login details for future reference.

How to Buy cryptos with Gemini on Gemini Mobile App?

Buying coins with Gemini on the mobile trading platform is also very simple. You can complete your crypto purchase by following the 03 steps given below.

Step 01: Log in to your account with your username and password.

Step 02: Access the market tab and select your favorite crypto asset.

Step 03: Enter the worth of crypto-asset you intend to buy, and click on the place order button. That’s all.

Payment Methods – Deposit and Withdrawals

Gemini accepts payments in all the supported cryptocurrencies. The exchange allows fiat deposits. Clients can use international or domestic wire transfers to fund their accounts. For clients based in the United States, the option of ACH transfer is available. You can also buy your favorite supported crypto asset from the exchange using your debit card. All transactions carried out via debit card reflect instantly in your account.

Please note that the exchange doesn’t allow debit card withdrawals. Clients need to withdraw their funds through wire or ACH transfers. However, you can withdraw your cryptocurrencies directly into your wallet.

Deposit and Withdrawal Fee

The exchange does not charge any fee on deposits and withdrawals made through ACH and wire transfers. Please be informed that although the company doesn’t charge any fee on wire transfers and ACH, you might still incur some charges from your respective bank. Therefore, you need to confirm the applicable fees from your source bank before carrying out any transaction.

Also, there is a fee of 3.49% of the transaction amount applicable to debit card payments at a flat rate. The exchange, however, does not charge any fees on the first ten crypto withdrawals a month. If you withdraw more than ten times, you may need to pay an additional fee. This fee is charged to cover the transaction cost of a specific asset’s blockchain. Also, any such fees may vary from coin to coin.

Not to mention, the exchange has a competitive fee structure for other advanced services, such as the ActiveTrader fee. Clients being takers need to pay the fees starting from 0.35%, and for makers, the fee starts as low as 0.25%.

TRANSFER FEE SCHEDULES

Fee on Deposits Relevant Cost
All cryptocurrencies, ACH, Gemini dollar (Redemption) Free
Wire Transfer Free¹
Debit Card Transfer 3.49% of total purchase amount

Withdrawal Fees (Individual Customers)

WITHDRAWAL TYPE(S) COST (Less than or equals to 10 PER CALENDAR MONTH PER WITHDRAWAL) COST (More than 10 PER CALENDAR MONTH PER WITHDRAWAL)
0x Free 1 ZRX
Aave Free 0.01 AAVE
Amp Free 10 AMP
Balancer Free 0.01 BAL
Basic Attention Token Free 1 BAT
Bitcoin Free 0.001 BTC²
Bitcoin Cash Free 0.002 BCH
Chainlink Free 0.01 LINK
Compound Free 0.001 COMP
Curve Free 0.2 CRV
Dai Free 0.1 DAI
Decentraland Free 10 MANA
Ether Free 0.001 ETH
Filecoin Free 0.001 ETH
Keep Network Free 1 KEEP
Kyber Network Free 0.1 KNC
Litecoin Free 0.002 LTC
Maker Free 0.001 MKR
Nexus Mutual Free 0.01 NXM
Orchid Free 1 OXT
PAX Gold Free 0.0001 PAXG
Ren Free 1 REN
Storj Free 1 STORJ
Synthetix Free 0.1 SNX
Uma Free 0.02 UMA
Uniswap Free 0.1 UNI
Yearn.finance Free 0.00002 YFI
Zcash Free 0.002 ZEC
ACH Free Free
Gemini Dollar Free Free
Wire Transfer Free Free

Withdrawal Fees (Institutional Customers)

WITHDRAWAL TYPE COST (Less than or equals to 50 PER CALENDAR MONTH PER WITHDRAWAL) COST (Greater than 50 PER CALENDAR MONTH PER WITHDRAWAL)
0x Free 1 ZRX
Aave Free 0.01 AAVE
Amp Free 10 AMP
Balancer Free 0.01 BAL
Basic Attention Token Free 1 BAT
Bitcoin Free 0.001 BTC²
Bitcoin Cash Free 0.002 BCH
Chainlink Free 0.01 LINK
Compound Free 0.001 COMP
Curve Free 0.2 CRV
Dai Free 0.1 DAI
Decentraland Free 10 MANA
Ether Free 0.001 ETH
Filecoin Free 0.01 FIL
Keep Network Free 1 KEEP
Kyber Network Free 0.1 KNC
Litecoin Free 0.002 LTC
Maker Free 0.001 MKR
Nexus Mutual Free 0.01 NXM
Orchid Free 1 OXT
PAX Gold Free 0.0001 PAXG
Ren Free 1 REN
Storj Free 1 STORJ
Synthetix Free 0.1 SNX
Uma Free 0.02 UMA
Uniswap Free 0.1 UNI
Yearn.finance Free 0.00002 YFI
Zcash Free 0.002 ZEC
ACH Free Free
Gemini Dollar Free Free
Wire Transfer Free Free

Education

Gemini also offers learning resources to help traders understand the world of crypto better. Well-structured detailed articles on multiple factors related to cryptos make a part of the cryptopedia section under the resources head. Clients can also sign up for the crypto webinars with the exchange. Clients can also find video tutorials covering multiple crypto-related topics under the educational library of the Gemini exchange.

Customer Support

Gemini is known to have high standards of customer support services. The exchange has an in-depth FAQs section that clients can dig into to find relevant answers to their queries. Customers can also raise their concerns via email. The company representatives generally reply to all of the emails within a few hours. Unlike most crypto exchanges, Gemini has listed dedicated phone numbers so clients may talk to the officials over the phone.

However, the level of customer facilitation over the telephone is not much convincing. Often the bell keeps ringing, and then you are asked to leave the message. You can also find the mailing address of the company on its official website. The exchange does not offer a live chat feature. However, you can access it over different social networking channels, such as Facebook, Twitter, and Instagram.

Reviews

What Do People Say About Gemini on Reddit?

As far as people’s views on Gemini on Reddit, we couldn’t find much positive response.  People seemed uncomfortable with the exchange high-end trading cost. According to some traders on Reddit, the Gemini exchange does not add value for money for traders with such an expensive cost structure. Another member doubted that the Gemini is located in New York City, and maybe that’s the reason for the cost being so high.

However, it was not a justified answer, and people didn’t seem to agree with it either. Another member said that he wanted to use Gemini exchange. However, after having a look at the trading cost, he intends to go for Coinbase.

What Do People Say About Gemini on Quora?

While searching for information on Quora about the Gemini exchange, we came to a whole new perspective of people. Somebody asked here, why do people prefer using coins base instead of Gemini? We were expecting the same reply as people came up with on Reddit. Here a member said that this is because Gemini has a weak marketing strategy. According to him, Gemini trading cost is reasonably low. He also talked about the regulation of the exchange and the insurance plan it offers.

In short, he cast his vote in favor of the Gemini exchange. Another member of Quora named Priyanka Suman seemed to be disagreeing with his opinion. According to her, Coinbase has a sound marketing strategy with a clear vision to operate only in the licensed areas. We leave it up to you to decide what you think which of the exchange is better?

Is Gemini Safe?

Yes, Gemini is a safe exchange to trade cryptocurrencies and store your digital assets. Being regulated by the New York State Department of Financial Services (NYDFS), and Financial Conduct Authority (FCA) the exchange appears to be a safe business concern having a state-of-the-art trading platform and advanced web-encryption protocols. Also, the insured hot wallet along with cold storage options add even a further layer of assurance that your funds are safe with Gemini.

Gemini VS eToro

While comparing two different exchanges side by side, value for money is the ultimate objective you might wish to assess. Let’s compare Gemini with eToro to know which the best exchange amongst the two of them is.

Gemini

Founded in 2015, Gemini is one of the world’s most legitimate exchanges. With nearly 13.6 Million users across the globe, the company serves to be a trading hub for crypto lovers. Multiple regulations and fund insurance program for U.S. based clients add more flavor to its legitimacy.

eToro

On the other hand, eToro is also a reputable name when it comes to the selection of a reliable trading platform. The exchange is being around for more than 15 years. The company also holds multiple regulations from renowned regulators in different regions of the world. It has more than 200K registered users around the world.

Trading Platforms – Gemini VS eToro

Gemini trading platform is unique in design with an elegant look and simple to use. Unlike other crypto exchanges with multiple confusing buttons and tabs, Gemini has a handy drop-down feature for asset selection. Order placement at Gemini is also a convenient process to follow.

eToro also offers a user-friendly trading interface with an intuitive trading platform to make things easier for traders. The self-explanatory features guide users to explore the eToro’s trading platform conveniently. Besides the traditional trading platform, eToro also offers a social trading platform. It enables clients to copy trades of other professional traders and start making money from day one.

Tradable Assets – Gemini VS eToro

Gemini is purely a cryptocurrency exchange. It doesn’t support stock or commodity trading. The crypto exchange offers a limited crypto portfolio consisting of nearly 40 digital coins.

eToro offers multiple trading solutions across different financial markets, including stock, forex, commodity, indices, cryptocurrencies, etc. The exchange allows you to trade in more than 50 cryptocurrencies.

Crypto Wallet – Gemini VS eToro

Gemini offers a customized crypto wallet to store your digital assets safely. It supports all the assets listed on the official website of the crypto exchange. Also, the exchange offers advanced level protection through its ensured crypto wallet.

eToro also provides access to its custom-built crypto wallet that supports over 120 cryptocurrencies. Clients can also use the crypto wallet to send, store, and receive cryptocurrencies to and from other crypto wallets outside eToro. eToro allows traders to transfer their non-leverage coins between their trading account and eToro wallet.

Trading Fees – Gemini VS eToro

Gemini is known for having a high fee structure as compared to other crypto exchanges. Clients need to pay a convenience fee in addition to the trading fee. That makes the fee in aggregate much higher than the average industry rates.

On the other hand, eToro offers a competitive pricing model. However, the swap charges for holding overnight positions are at the higher end. Still, the overall fee is way less than the Gemini exchange.

Deposits & Withdrawals – Gemini VS eToro

Gemini has a very appealing fee charging policy for deposits and withdrawals as long as you chose ACH transfers as your preferred payment method. However, it does charge a flat rate of 3.49% of the transaction amount for payments made through debit cards. It also allows free crypto withdrawal up to 10 times a month.

eToro doesn’t charge any fee on deposits. However, clients may need to pay $5 for withdrawals. Also, the platform charges an inactivity fee of $10 per month from dormant customers. The inactivity fee becomes due after a customer keeps an account inactive for consecutive twelve months.

Customer Support – Gemini VS eToro

Gemini customer support heavily relies on their detailed FAQs section. You can find answers to most of your queries there. It also offers quick customer support through email. Clients usually receive replies to their emails within a few hours. The exchange has also listed some dedicated phone numbers for clients to reach the company. You can connect to the company over different social media channels. The company does not offer live chat support.

eToro also facilitates its customers through the FAQs section. You can type your query to find an appropriate resolution to it. However, clients can also contact the company over telephone, email, and web chat. Please note that the eToro offers a basic level of customer support through live chat support. Clients seeking resolutions to complex issues might need to raise them with the company in writing via email.

Conclusively, Gemini and eToro are the two best crypto platforms with a customer-centric approach. Both exchanges have some strong and weak points. However, eToro is one of the pioneer exchanges to cater to the crypto trading needs of customers. It has a competitive pricing structure. eToro also has a wide product range of financial instruments, including digital currencies. The option of a social copy trading platform, multiple payment methods, and efficient customer support provide eToro an edge over Gemini.

Number of Coins: 20+
Margin Trading: YES
Minimum Deposit: $200

Invest In Cryptocurrency With $0 Commission

  • Supports Multiple Languages
  • Regulated by FCA, ASIC & CySEC
  • Paypal, Debit & Credit Card Accepted
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Other Services Offered at Gemini:

Gemini Wallet

The crypto exchange offers a customized wallet to store cryptocurrencies securely. Gemini hot crypto wallet backed up by an insurance plan, and the cold storage options enable clients to access their digital assets conveniently without fearing the risk of theft. The wallet is compatible with all of the assets supported at the Gemini exchange.

Gemi Custody Service

Enabling traders to store their digital currencies for extended periods, Gemini offers a crypto custody service known as Gemini Custody. Using this service, clients can store a large number of cryptocurrencies in a secured manner. Please note that the exchange offers custody services in insurance with the Federal Deposit Insurance Corporation. The exchange custody accounts come with the insurance of up to the worth of $200 Million. Also, the exchange custody accounts have the regulation as a New York State trust company. Clients can withdraw their assets on the same day for trading on the Gemini exchange under the custody service.

Gemini Clearing

Gemini clearing is an over-the-counter desk (OT Desk) that enables two parties to settle trades off the exchange. The exchange acts as a confirming intermediary in pre-arranged transactions. Gemini clearing house ensures the timely settlement of trades while it also mitigates the counterparty risk.

Gemini Pay

Clients can use the Gemini Pay service to shop, entertain and dine across the world. Currently, the service supports more than 30,000 retail outlets, including shopping malls and restaurants worldwide. Customers can access the Gemini Pay service via the mobile app to pay in some of the major supported cryptocurrencies for goods and services availed round the globe.

Gemini Credit Card

Gemini anticipates releasing its customized credit card this year. The card will be available all across the United States. Using the Gemini credit card, clients may be eligible to earn a reward of up to 3% of cryptocurrencies on each purchase. The exchange won’t charge any fee on crypto rewards as well. The credit card is currently in the final stages. Therefore, clients can register themselves in the wishlist before its launch.

Gemini Dollar

Like come other crypto exchanges, Gemini also has its utility token (GUSD). Gemini Stablecoin or in other terms, the Gemini Dollars (GUSD) are pegged in a ratio of 1:1 to the U.S. Dollar. According to the information available on the exchange website, the Gemini reserves undergo verification by an independent audit firm/committee at regular intervals. The exchange also claims that the Gemini Dollars observes higher turnover and redemption rates as compared to other stable coins. That makes GUSD being one of the highly liquid stable coins.

Conclusion

After an in-depth review of the exchange, we conclude Gemini to be one of the most authentic exchanges for trading cryptocurrencies. The company is compliant and regulated in multiple jurisdictions around the world. As long as the signing-up process with the exchange is concerned, it is quite lengthy. Most users find the exchange very complicated in terms of verification. The complex account verification process and frozen funds may become inconvenient for some users, especially the newbies.

Also, the expensive fee structure is yet another reason that might make users reluctant to sign up with the exchange. In short, if you feel comfortable providing too many personal details to the exchange, and the high fee structure does not matter for you, then you can find this exchange to be quite useful. Otherwise, the market is full of other alternatives. You can consider opening an account with its competitors, such as eToro and some other exchanges.

Frequently Asked Questions (FAQs)

Yes, Gemini is a regulated exchange. It’s a New York trust company that holds regulations from the New York State Department of Financial Services (NYDFS). The exchange is also authorized by the Financial Conduct Authority (FCA) in the United Kingdom.

Yes, it does have. Clients may incur a slightly higher trading cost as compared to other crypto exchanges. The exchange charges an unusual convenience fee on top of regular trading fees that make the overall trading cost go higher than most crypto exchanges. However, the exchange offers cheap deposit and withdrawal options that might catch your interest. Unlike other crypto exchanges, it even allows traders to withdraw cryptocurrency for free. However, free withdrawals have a limit of up to 10 times a month.

Yes, Gemini support fiat currencies. The exchange currently supports nearly seven fiat currencies, including U.S. Dollar (USD), Australian Dollar (AUD), European Euro (EUR), Great Britain Pound (GBP), Canadia Dollar (CAD), Singapore Dollar (SGD), and HongKong Dollar (HKD).

No, Gemini has never been hacked ever since its inception. It’s been more than 05 years that the intruders couldn’t find their way to break into the well-secured gateways of the crypto exchange.