Gemini Exchange Review: Is It Safe and Legit to Buy Bitcoin (BTC) and Ethereum (ETH)?

Gemini Exchange is a fully regulated cryptocurrency platform based in New York. It allows you to buy, sell, and store over 70 digital assets

Gemini Exchange is a fully regulated cryptocurrency platform based in New York. It allows you to buy, sell, and store over 70 digital assets, including Bitcoin and Ethereum. Gemini is known for its strong security standards and simple user interface. The best features of the Gemini exchange are the mobile trading app, insured custody service, institutional-grade security, ActiveTrader platform, Gemini Wallet, and staking services.

What Is the Gemini Crypto Exchange?

Gemini is a crypto exchange and custodian that was founded in 2014 by Cameron and Tyler Winklevoss. It has its main office in New York City but operates in more than 60 countries across the globe, such as the United States, Canada, the United Kingdom, South Korea, and Singapore. It enables trading in over 70 different cryptocurrencies, like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).

Gemini offers products and services for individual as well as institutional investors. There is the Gemini Mobile app that enables users to trade on their mobile devices and has a simple interface for buying, selling, and holding digital assets. There is also an upgraded ActiveTrader platform, which has enhanced charting features as well as multiple order types. Institutions can also use Gemini Custody. It is an insured storage solution for digital assets.

The exchange is extremely secure. It is SOC 1 Type 2 and SOC 2 Type 2 certified, as well as adhering to ISO/IEC 27001:2013 standards. Also, the exchange demands 2FA as well as hardware security keys for additional login security measures. Plus, address allowlisting is available on the platform. This allows users to limit cryptocurrency withdrawals only to pre-authorized addresses.

What Are the Pros and Cons of Gemini?

Pros of Gemini:

The pros of Gemini are strong security measures, U.S. licensing, a user-friendly interface, advanced trading tools, and institutional-grade custody services.

Cons of Gemini:

The cons of Gemini are a limited selection of coins, the unavailability of derivatives trading in the U.S., and limited staking options.

What Countries Are Supported and Restricted by Gemini?

Gemini supports users in over 60 countries, including all 50 U.S. states. The platform is also available in regions across North America, South America, Europe, Asia, Oceania, and Africa. So, does Gemini work in New York? Yes, Gemini is also available in New York for buying and selling crypto. However, Gemini Derivatives is not available to customers in the United States, the United Kingdom, or the European Union.

Gemini is restricted in certain countries due to sanctions or regulations, such as Afghanistan, Iran, Iraq, Libya, North Korea, Pakistan, Sudan, Syria, and Yemen.

What Is the Net Worth of Gemini Exchange?

The net worth of Gemini Exchange is $7.1 billion. This was after the November 2021 funding round, which was for $400 million and was headed by Morgan Creek Digital. This was Gemini’s first funding from an outside source. To be clear, $7.1 billion was the market value of the company at that moment. It may vary based on market trends and investments in the future.

What Are the Fees of Gemini?

The fees on Gemini include trading fees, deposit and withdrawal fees, transaction fees, ActiveTrader fees, and custody fees.

Gemini Trading Fees

Gemini offers three main types of orders: instant orders, recurring orders, and limit orders. If you use the standard Gemini platform, a 1% convenience fee is added to the quoted price for each trade. Each type has its own fee structure:

Gemini Withdrawal and Deposit Fees

Gemini does not charge any fee when you deposit money with ACH transfers or wire transfers. They make it easy and inexpensive to transfer money into your account through your bank account. If you do decide to deposit money with your debit card, you may pay some percentage of the value of the transaction.

For withdrawals, there are no costs if you make ACH transfers to withdraw funds to your bank account. Wire withdrawals, on the other hand, are charged a single $25 fee per transaction. The fee does not vary with the amount you withdraw.

All deposits made into your Gemini wallet are zero-cost. Gemini does not charge you to send crypto from an outside wallet or exchange into Gemini. When you make withdrawals from your Gemini account in the form of blockchain cryptocurrency, the charge is not static; rather, it is dynamic and will depend on the traffic on the current blockchain network and associated costs. Those network costs will vary based on what asset you are sending and how congested the blockchain is when you make the transfer.

Gemini Transaction Fees

Gemini charges a 1.49% transaction fee on all order types. If you buy crypto using a debit card, the exchange adds a 3.49% fee. When you use PayPal to