Complete Guide to the Gemini Crypto Platform

Cryptocurrency is hailed as the future of finance and wealth building. It has already disrupted the world of finance with its rather wild and volatile tendencies. Most industry experts view bitcoin and the cryptocurrency market as a long-term solution to investment rather than running for short-term gain.

In this article, we will review Gemini, one of the largest and most well-respected cryptocurrency exchanges.

Gemini Crypto Overview

Launched in 2015, Gemini is a cryptocurrency trading platform marketed towards active traders and those who are starting their investment journey. Gemini offers several options to its customers who are interested in buying and selling cryptocurrency. It is regulated by the New York State Department of financial services.

The core aim of Gemini is unlocking the transformative power of digital assets and blockchain technology in today’s highly digital world. The company makes cryptocurrency a widely accepted form of transaction with a broad range of financial services. Currently, Gemini is a mobile app that 30,000 retailers accept, and the company is on its way to releasing an exclusive credit card with MasterCard.

For many, Gemini is infamous because of its founders Tyler and Cameron Winklevoss, who are currently in a legal battle with Mark Zuckerberg over Facebook. Keeping this legal history aside has some exciting offerings to its customers. As of now, Gemini offers over 40 currencies and information guides to help investors understand how to make money from cryptocurrency.

As a young corporation, Gemini is at the cusp of innovating and integrating young entrepreneurs interested in transforming financial services globally. With heavy investment and research into crypto education and providing allied services, Gemini is pioneering financial education and access through a cohesive ecosystem.

Crypto Available on Gemini

The Gemini crypto exchange does not have a heavy trading volume like its competitor Coinbase or Kraken. However, it has emerged as a space for beginners exploring the world of cryptocurrency. Gemini offers over 40 cryptocurrencies to its customers. here are some of the popular cryptocurrencies available on Gemini:

• Ethereum (ETH)
• Bitcoin (BTC)
• Chain-link (LINK)
• Dai (DAI)
• Dogecoin (DOGE)
• Uniswap (UNI)
• Litecoin (LTC)
• Filecoin (FIL)
•  Polygon and many more.

Each cryptocurrency council has its terms and conditions and withdrawal fees. Gemini offers different trading minimums for all its cryptocurrencies that can be traded. For example, the minimum amount of bitcoin for trade is 0.00001 BTC. However, the good news is that Gemini does not charge any account minimum.

How to Use Gemini

Gemini has a sleek and sophisticated online platform that has an easy user interface. Follow the instructions below to set up your account with Gemini:

• Open the Gemini website (https://www.gemini.com/)
• Click on the get started button on the right-hand side corner
• You will be redirected to a form asking for your details. This includes your name, email address, and password.
•  Once you have set and verified your account, you can set your bank account details.
• With your details and bank account information verified, you are now ready to start exploring cryptocurrency on Gemini,

Gemini Crypto Fee

Gemini charges its customers a transaction and convenience fee for every trade made on the platform. The fee structure is uniform for their mobile and desktop platforms. Both are displayed as ‘quoted price” before finalizing the purchase.

Following is a brief guide on their fee structure:

Convenience Fee

Gemini charges a convenience fee of 0.5% after Gemini market price for a given trade. However, the convenience fee varies depending on the market. A feast is levied on cryptocurrency users. For instance, if Bitcoin is trading at $30,000 for 1 BTC, the user would pay  $30,150, including the convenience fee.

Transaction Fee

Along with the convenience fee, users are expected to pay a transaction fee based on the number of cryptocurrency traders. For all cryptocurrencies, there is a standard fee of 1.49% levied. For example, if you trade Bitcoin or Litecoin, Gemini or any other crypto exchange will levy a transaction fee. This transaction fee varies from currency to currency, ranging from flat to percentage based on the amount transacted.

As you move up in skill and practice with trading cryptocurrency, users have the choice to move to Gemini’s premium services called the active trader service. The active trailer service offers users custodial trading platforms with lower fee structures that are generally more complicated to manage.

Deposit Fee

Users have the option to move crypto coins to a new wallet or other crypto exchanges. With Geminis services, users can withdraw their crypto in the form of US dollars into their bank account after making a trade. Gemini does not levy any depositing fees unless the user is making the transactions with a debit card. With a debit card, Gemini charges 3.49% of the total purchase amount.

Withdrawal Fee

Gemini does not have any withdrawal fees attached when users withdraw crypto from their accounts or withdraw dollars after selling the crypto assets. This benefit is limited to the first ten withdrawals made every month. Beyond this, most crypto withdrawals will come with a fee, the standard operating procedure for all crypto exchanges.

Gemini Crypto Security

Money invested in cryptocurrency is not FDIC insured compared to more traditional banking solutions. But with Gemini, users can secure their investments with digital assets through multi-layered security solutions.

According to the company, a large chunk of your cryptocurrency investments is held in an offline cold storage system, which is secured against hackers. Using state-of-the-art measures, a minor portion of these investments is kept in an online hot wallet protected against fraud and theft.

Their insurance policy does not cover any loss due to unauthorized access to the user accounts. With Gemini, you can create a list of approved addresses that have access to your Gemini account. These authorized people can make withdrawals and operate security settings from your account. However, in the case of identity theft or password change, the possibility of recovering the account is low.

Read More

• How to Make Money with Cryptocurrency
• How to Withdraw from Binance
• How to Transfer From Coinbase to Coinbase Pro
• How to Transfer from Coinbase to Binance
• How Does Cryptocurrency Gain Value?
• How to Read Crypto Charts

Conclusion

Gemini is a reputed and dependable exchange for those interested in trading cryptocurrency. With great security features and easy trading options, Gemini is an excellent place for new investors exploring the world of cryptocurrency. For professional traders, Gemini offers a bevy of advanced trading options and tools.

With mobile and desktop versions, Gemini can be accessed anytime, anywhere. With additional features like Gemini earn, cryptopedia, Gemini wallet and Gemini pay, and many others, Gemini offers a holistic platform to know everything about cryptocurrencies.

So, if you are planning to take the plunge with cryptocurrency, be sure to give Gemini a shot!

Frank Gogol

I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.

See author's posts