gemini review

Gemini Review: Pros, Cons and How It Compares

Gemini offers more than 50 cryptocurrencies, including bitcoin and ether, as well as a limited selection of crypto-to-crypto trading pairs.

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The bottom line: For casual investors, Gemini offers a trading platform that’s easy for beginners, an advanced platform for serious traders and a portal for peer-to-peer trading.

67% of retail investor accounts lose money when trading CFDs with this provider. You have to ask yourself if you can afford to take the high risk of losing your money.

gemini review

Pros & Cons

 

Pros

  • More than 50 cryptocurrencies.

  • Site insurance of digital assets against exchange hacks.

  • Available in all U.S. states.

Cons

  • Higher fees than some other crypto exchanges.

trading sites comparison

Where Gemini shines

Accessibility: Many cryptocurrency exchanges are available only in select states, but Gemini is available to residents in all 50 states & All of Europe.

Good for both beginner and advanced traders alike: Gemini has a simple interface for new crypto investors, while more experienced traders will appreciate its ActiveTrader platforms. You can find exchanges that charge fewer fees for crypto trades, but Gemini’s safety measures and insurance against online breaches might ease the minds of those new to the cryptocurrency trading world.

Where Gemini falls short

 

Fees: Gemini has a lot to offer, but that comes with slightly higher fees than some other crypto exchanges.

Gemini is best for:

  • Cryptocurrency traders.

  • Peer-to-peer trading.

  • Crypto-to-crypto trading.

Gemini at a glance

gemini at a glance

More details about Gemini's ratings

Minimum trade

 

Gemini has low minimum trade amounts, which vary by the type of cryptocurrency you want to trade. For example, the minimum bitcoin trade is 0.00001 BTC and the minimum ether trade is 0.001 ETH.

Trading and transaction fees

 

Gemini’s fees are slightly higher than some other crypto brokerages and vary depending on the platform you’re using, topping out at 1.49%. If you’re using a debit card for purchases, the fee is 3.49%, and other fees may apply. For mobile and web app users, Gemini charges a flat 0.5% above the current trading price (which Gemini calls its “convenience fee”). On top of that, it charges a transaction fee, similar to Coinbase, based on the amount traded: a tiered flat fee up to $200; orders above $200 are charged 1.49%.

more details on gemini rating

67% of retail investor accounts lose money when trading CFDs with this provider. You have to ask yourself if you can afford to take the high risk of losing your money.

Where Gemini has an edge on its competition is in withdrawal fees. With most brokerages, withdrawing crypto from the platform incurs at least a network fee (the cost of running a transaction on the underlying blockchain), but with Gemini, you can make up to 10 withdrawals per crypto per month for free. However, it’s important to note that beyond these 10 withdrawals, the fees are high. For example, your 11th bitcoin withdrawal in a single month would cost 0.001 BTC — about $57 as of Oct. 14, 2021.

Unlike Coinbase, Gemini doesn’t charge transaction fees for deposits from U.S. bank accounts or wire transfers (although your bank might).

For more serious, high-volume crypto traders, Gemini has a different rate structure based on 30-day dollar-volume of trades on its ActiveTrader platform. Rates also are based on liquidity of the asset at the time of purchase; if immediately available, you're charged a “taker” fee, and if your order needs to wait for a buyer, you are charged a “maker” fee. The “auction” option allows the sale of blocks of cryptocurrency at a maximum buy price or minimum sell price.

gemini fee calculation

Number of cryptocurrencies

 

Gemini offers more than 50 cryptocurrencies.

Crypto-to-crypto trading pairs

 

21 crypto-to-crypto trading pairs are available through Gemini’s ActiveTrader platform.

 

Digital wallet options and security

 

The exchange offers Gemini Wallet for users who don’t already have a cryptocurrency wallet. Digital assets are insured against losses that result from a security breach or hack, a fraudulent transfer or employee theft.

Gemini prides itself on its security measures and hasn’t recorded a successful hacking attempt on its site. The digital assets on the site are insured against security breaches and hacks, and the bulk of its assets are kept in “cold storage,” away from online threats that could breach security. That said, loss of assets due to unauthorised access to your personal account — such as theft of your private codes and logins — isn't covered by Gemini insurance.

Mobile app

 

Gemini offers a free app for both iOS and Android. Both versions are highly rated by app store users and mimic many of the same functions and features as the desktop site.

Customer support options

 

Gemini offers customer support via email and chat.

Other features you should know

 

Peer-to-peer trading: Gemini offers direct trading between buyers and sellers through the Gemini Clearing portal; fees are the cost of the spread and have no minimum order size.

Platform: For desktop users, Gemini has Gemini Basic — a straightforward, simple interface to purchase cryptocurrency based on the total amount of crypto or the total amount of U.S. dollars you want to spend.

Gemini’s ActiveTrader platform has more bells and whistles, such as advanced charting, tracking multiple order types and block trading.

Is Gemini right for you?

 

Gemini offers a quick setup and convenient interface for new cryptocurrency investors, as well as strong tools for more serious traders. While its fees may be higher than some competitors on its mobile and web apps, Gemini’s security features, such as insurance for digital assets, are attractive — especially for those new to the crypto world.

No matter where you decide to make your purchase, understand that investing in cryptocurrencies like bitcoin is highly speculative and known for its volatility. It’s wise to never invest any more than you can afford to lose.

How do we review crypto exchanges and platforms?

 

SafeNetTrading’s comprehensive review process evaluates and ranks the largest U.S. cryptocurrency exchanges, along with emerging industry players, using a multifaceted and iterative approach. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed

on Gemini's website

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Your capital is subject to risk. You have to ask yourself if you can afford to take the high risk of losing your money.

REGULATED TOP BROKERS

Screenshot 2021-08-26 at 11.49.28.png
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visit site.png
trading on avatrade
Screenshot 2021-08-26 at 11.49.34.png
Screenshot 2021-08-26 at 12.16.21.png
visit site.png
trading on etoro
visit site.png
trading on libertex
Screenshot 2021-08-26 at 11.49.39.png
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trading on binance
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visit site.png
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Screenshot 2021-09-13 at 02.22.38.png
visit site.png
admiral markets website

Your capital is subject to risk. You have to ask yourself if you can afford to take the high risk of losing your money.