If we review past couple of years, we can see the impending growth of cryptocurrencies on the market. Just three years ago, many crypto exchange companies were registered, one of them being Gemini, a company from New York that's well respected by the users from the USA. Gemini is with us for... well, quite some time, providing its users with relatively fast transactions, low fees, and great overall relationship with their customers. With their initial focus being on Bitcoin, Gemini decided to flow alongside the ever-changing crypto market, and now they offer a support for Bitcoin, Ethereum, and Zcash. This Gemini review provides a detailed guide, description of services and steps to register, as well as a detailed review of the whole exchange. Read on!
Gemini is one of those companies that underwent a rapid expansion from the moment the doors opened for the first users. A few years ago, Bitcoin was their primary focus, and the company didn't have much success. Nowadays, Gemini is here to provide a clean, simple, and user-friendly experience for every customer that is interested in exchanging cryptocurrencies. When it comes to their area of support, the United States, Gemini has proven to be one of the best exchanges.
It’s not easy to stay at your best, especially in the unforgiving crypto market, but, Gemini withstood the test of time and successfully managed to climb among the best crypto exchanges that the market has to offer. With their focus on the most popular cryptocurrencies at the moment, great customer support, and their relationships with the customers, Gemini strives to be a company that every crypto enthusiast knows of. In the next section, we’ll review its pros and cons.
Interested in how Gemini compares to other crypto exchanges? We have compared all major cryptocurrency exchanges in this article.
Gemini is one of the safest crypto exchanges out there. During their years of work and existence, we haven’t heard a single bad word regarding safety and there are numerous reasons for that. The first reason is the company’s legitimacy. Gemini is regulated by the New York State Department of Financial Services, which is known to be pretty tough when it comes to meeting the certain requirements.
As such, there is no money laundering or scams on Gemini, also, there was no successful cyber-attacks, which often happen to many other crypto exchange companies. Aside from that, Gemini takes great care of its customers and their funds by taking advantage of an offline cold storage, rather than hot wallets. Not only that, but the company facilitates several offline wallets that are stored in several secured facilities.
With the addition of 2FA (2-Factor Authentication), Gemini remains at the top when it comes to security and privacy. All in all, the security of this crypto exchange is something that users are not concerned about.
Take advantage of the security features!
While the customer support isn't great at Gemini, your user experience will be not affected by this because you, most likely, will not need the support. The main issue with their customer support is the lack of "depth" and haste that many other crypto exchange companies have. For example, we only have a FAQ section and the email support, which isn't enough for a company of this caliber. However, it would be a lie if we said that the FAQ section isn't good. In fact, it will provide answers to all of the common questions or issues that may arise.
The email support is a bit of hit and a miss. In most cases, you will receive the reply within a few hours, or, sometimes wait a few days. Nonetheless, we didn't encounter any issues with the support, but we still wish it was a bit better and faster.
Unlike some crypto exchanges from the USA, for example, Coinsquare, Gemini supports a majority of the USA states, including some countries worldwide. This gave a huge advantage to Gemini, as they can expand their area of support to a much higher level, thus having a bit of an edge over other USA-based cryptocurrency exchanges. The interesting thing is that many European exchanges provide solid support for the USA, while the USA exchanges are a bit skimpy when it comes to European countries.
It's pretty clear that users from the USA will gain a huge advantage over the non-USA users. That being said, Gemini supports 42 USA countries, of which we’ve listed some below. If you want to see the full list, you can simply click here.
The worldwide support is, however, limited. It includes Canada, Hong Kong, Singapore, South Korea, and the United Kingdom. We still hope that it will expand in the years to come.
Gemini is a website that doesn't look that cool, but we consider it as a huge advantage. Thanks to its minimalistic and simplistic look, Gemini is dead simple to use and you won't have any issues with it, even if you are a newbie. In the upper part of the website, you can see the options for registering/signing up, as well as the current values of the three supported cryptocurrencies. On the right side, there is more info about the Bitcoin, Ethereum or Zcash fluctuations, which are great to have at your disposal.
"Probably the most professional exchange there is at this time. Yes it takes a while to set up, but it's US based, regulated, people do respond to any problems(which I have had none)."
As far as the registration process goes on Gemini, you register using your country of residence, your full name, email address, and a password. After that, you’ll need to verify your account which can take up to a few working days to complete. Verifying your account isn’t that complicated, meaning that you can do this with your government-issued ID, passport, etc.
After verification, you’ll be able to take advantage of Gemini’s options. You can now make fiat purchases, trade cryptocurrencies, and simply enjoy what Gemini has to offer.
Don't waste time, quickly sign up and start trading!
Given the vast possibilities and tight security that Gemini has to offer, we can pretty much say that the company is in a great position. If we check its stats, it's surely not the most popular company worldwide, which isn't strange, since the worldwide support isn't great. However, Gemini shines within the USA. In the USA, Gemini stands for one of the best crypto exchange companies.
On top of that, its reputation is enhanced thanks to NYSDFS, which made sure that Gemini is compliant to every possible standard in the USA. After all, the company was started by Winklevoss twins that are known for series of successful companies under their wing. Gemini built a diamond-hard reputation that isn’t so easy to dispute, and we believe that this trend will continue in the future.
Gemini is known for its relatively low fees. The great thing about their fees is that they are applied only to trading, leaving deposits and withdrawals without fees. Like it or not, we think that Gemini did a pretty good job here, as you’ll probably spend more time withdrawing your money to your wallet or sending it to your Gemini account. On the other hand, the trading fees are fair by today’s standards.
The highest that we got was around 0.4%, which is nothing, when compared to the fees of various cryptocurrency exchanges around the world. Some users complained about higher trading fees, but we’re not exactly sure why this issue was even mentioned. Also, we’re not sure how things were a couple of years ago. For now, Gemini is an undisputed king when it comes to fees, especially on the US market.
Now is the time to start buying cryptocurrencies!
When it comes to the payment methods, Gemini isn’t exactly the most generous exchange service. However, we do appreciate that they’ve included bank transfers and Wire transfers, which makes the payment much more convenient. Sure, we would like a couple of options on top of that, although we rarely use anything besides the bank account to transfer and withdraw funds.
So, if you want to use the bank transfer, you’ll need to have a verified account on Gemini, as well as a valid bank account and a credit/debit card. The best thing here is that the fees stay the same – basically, non-existent. The same goes for the wire transfer, though. You can expect your transfer to be done within a few hours and sometimes faster.
All in all, we can’t say that we have a plethora of payment options at our disposal, but what we have is more than enough. You can’t beat good old bank transfer, at least not in the near future.
Sending cryptocurrencies from Gemini is a simple process that can be done in a matter of minutes. Before sending your crypto to your wallet, you need to buy it first. But, before that, you’ll need to deposit money from your bank account to your Gemini account. After you’ve done this, simply click on the “Buy” button in the upper left corner and you’ll see a new menu where you can purchase the desired amount of your preferred crypto.
When you select the amount you wish to purchase, simply click on Buy to complete your purchase. You can then save your crypto on your Gemini account or simply send it to your wallet, if you have one. If not, consider making yourself one, as this process takes no more than five minutes. After you buy crypto, you’ll receive it in a matter of minutes, but this tends to take longer at times. Overall, we’re satisfied with the simplicity and speed of the buying process.
Thanks to Gemini's numerous cold storages, receiving crypto to your Gemini account very secure. To receive crypto or fiat currencies to your Gemini account, simply buy crypto or deposit your fiat currency. Unfortunately, Gemini supports only one fiat currency and that's obviously USD. To withdraw your fiat currency from theGemini account, simply click on Transfer Funds and follow the instructions. You’ll be able to receive your cash within few days, depending on the verification of your account.
On the other side, you can receive crypto. Receiving crypto can be done by purchasing it directly on Gemini and storing it using their cold storage, which has maximum safety. The other way is to use the Transfer Funds option and transfer it via an external wallet. We usually dislike when an exchange company includes a wallet, but we’ll have to make an exception here since this one is pretty safe and secure.
If we take into an account our review up until this point, it’s pretty clear that Gemini is one of the best crypto exchanges in the USA. But, when there are numerous benefits, there are also some downsides. First, Gemini puts a huge emphasis on the USA as their primary area of work, making it far superior platform for the users there. Secondly, the company supports USD as the one and only fiat currency.
We know Gemini as one of the best crypto exchanges with the lowest fees out there. This means that you won’t be charged any fees, except for trading. While their customer support isn’t the best out there, we still find it satisfying, to say the least.
Finally, the reputation that Gemini has is very hard to beat, if not impossible. Their numerous connections with the important investors and government are definitely something to take into an account. For the users that live in the US, Gemini is a great choice for starting their crypto voyage.
You can check out all of the most popular cryptocurrency exchanges in one article here.
Have you traded on Gemini? Do you have any advice or suggestion for the other readers? Let us know in the comment section below!
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