Gemini is a cryptocurrency exchange founded in May 2015 by brothers Cameron and Tyler Winklevoss.
Gemini is one of the most well-known cryptocurrency exchanges on the market, mainly due to the fact that it is owned and operated by the Winklevoss Twins, who have become popular thanks to their images on social media and media.
The Winklevoss twins announced that back in 2013, they had purchased 1% of all Bitcoin in circulation, and shortly after, they announced their intentions to create and launch a Bitcoin ETF product. While the U.S. Securities and Exchange Commission was still delaying the launch of the Bitcoin ETF, the Winklevoss twins were able to launch their own cryptocurrency exchange, known as Gemini.
The most notable aspect of this exchange is that the Winklevoss twins have established a close relationship with regulators and have done their best to convince users that they can use a trusted, reliable brand that will last for many years.
Gemini Exchange is a trademark of Gemini Trust Company, LLC. Since the company is registered in New York and meets the standards of the American bank, it enjoys a very good reputation among customers and individuals.
Gemini currently operates throughout the US and in some other markets around the world, including Canada, Hong Kong, Puerto Rico, Singapore, South Korea, and the UK.
Gemini offers a number of unique features compared to competing cryptocurrency brokers, including:
Different platform options. Gemini offers both a standard, simple web interface and a more advanced ActiveTrader platform. This allows you to customize your Gemini experience to suit your trading skill level.
A wide range of cryptocurrency offers. Gemini provides support for 26 different cryptocurrencies, from large projects to small altcoins.
Function of dynamic price alerts. Mobile investors will love the alert features in the Gemini app, which allow you to receive a push notification when the asset you are interested in reaches a pre-set target price. You can even set alerts to inform you when an asset increases or decreases in price by a predefined percentage.
Fees for trading cryptocurrency on Gemini will depend on which version of the platform you interact with on your device. For example, the fees paid for transactions made through the mobile app are higher than for transactions made through the full trading platform, which is accessed via a computer.
Whether you use a simple interface or a full trading platform, the fees are structured by tiers, which is quite common in the crypto exchange industry.
Gemini also charges a convenience fee on top of the amount you pay per transaction. Gemini's current commission fee is 0.50% of the current market price of the coin you are buying. When you place an order, you will see that the convenience fee is included in the coin price.
When you enter your order, Gemini also applies a 1.49% transaction fee to your purchase, which is deducted directly from your trading funds.
For users who buy and sell on the Gemini API platforms and
ActiveTrader, different commission schedules apply.
Gemini fully complies with the strict rules for the protection of digital assets (cryptocurrencies) and the consumer protection act provided for by US law. Customer accounts in US dollars on the Gemini exchange are insured by the FDIC (the Federal Deposit Insurance Service of the United States - a company of the federal government acting as an agency established to supervise and guarantee deposit securities in US banks).
All digital assets are stored in cold wallets, while online assets are stored in Amazon web services in order to increase information security for people.
To date, Gemini has not encountered any cases of fraud and has never been attacked by hackers. Gemini is a very secure exchange in the United States, which is estimated to ensure the confidentiality of customer information and transactions on a par with major financial institutions in the United States.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.