Gemini Cryptocurrency Exchange Review

AVAILABLE CURRENCY

All in all, Gemini currently allows customers to buy around 60 different types of crypto currencies including Bitcoin, Ethereum, Litecoin, ZCash, Bitcoin Cash, ZRX, Chainlink, Balancer, and many others. Although other crypto exchanges might allow trading from a larger universe of crypto currencies, Gemini is more selective in the coins they allow while still offering the top digital currencies available. 

Customers can fund their Gemini account with fiat by automatically or manually linking their bank account. They can also fund their Gemini account with external crypto wallets. 

SUPPORTED COIN PAIRS

Through the ActiveTrader platform, Gemini supports trading pairs for dozens of crypto currencies. Some of the published crypto trading pairs on the Gemini website are Bitcoin/Dai, Ethereum/Bitcoin, ZCash/Bitcoin, Bitcoin Cash/Ethereum, Litecoin/ Bitcoin, Linkchain/Ethereum, and several other combinations of the aforementioned.

RATES & PAYMENTS

Gemini is completely transparent in its trading fees and pricing.  The website publishes fee schedules for the exchange each with its own page section including its Mobile fee schedule, Web fee schedule, ActiveTrader fee schedule, custody fee schedule, and Transfer fee schedule. 

Fees vary due to several factors such as transaction type, amount, and frequency. For example, transactions made through the web platform or mobile app can run anywhere from 99 cents for transactions less than $10 to $2.99 for transactions up to $200. Transactions for amounts over $200 have a fee equal to 1.49% of the transaction. Other fees may apply and customers are encouraged to look over the fee schedules to understand what the total price of transactions might be.

SECURITY, ACCOUNTABILITY & REPUTATION

As part of its security measures, Gemini’s Trust and Safety Team applies the industry's best practices to protect its customers. Using custom-developed tools, the company aims to mitigate scams by blocking wallet addresses known to have committed fraudulent acts. It also uses account takeover mitigations that allows it to respond quicker and more effectively against suspicious activity.

The company reviews and approves new accounts following industry-established protocols and provides customers with security controls for their profiles and wallets. Measures such as multi-factor authentication, strong password policies, and verification of new devices helps protect against unauthorized logins.

Gemini is a part of the New York Trust Company and subject to regulations from the New York Department of Financial Services (NYDFS), one of the few cryptocurrency exchanges held to such high standards.

USER EXPERIENCE

Gemini’s online resources are some of the best we’ve seen. Educational material including videos, explainers, articles, and glossaries are available through its Cryptopedia platform. Gemini’s stated goal is to “empower individuals through crypto” which means providing a platform where anybody can access to learn and understand the ins-and-outs of cryptocurrencies, the mechanics behind trading, and the possibilities the new technology presents.

The company’s website has an extensive FAQ section that answers most of the pressing questions about trading, security, and account management. Customer service is provided via chatbot or a help desk, available to receive customer email queries at any time. There’s also a status page that has real-time updates of any system outages or maintenance issues with the Gemini platform.

It should be noted that the company currently has an alert on the Better Business Bureau (BBB) page related to a pattern of complaints regarding account management and customer service issues. The BBB has noted an increase on its page of consumer complaints since January 2021, most of which mention an inability to access currencies and a delay in transactions due to the verification process.