Gemini Exchange Review
Verdict: Founded in 2014, quickly amassed over 13.6 million users. Never hacked, utilises cold storage & 2FA. Supports over 23 currencies with users assigned a multi-currency wallet. Convenience fee 0.50% higher than standard market rate. Only supports one Fiat currency, USD. A great exchange for experienced traders, newer traders may have difficult with interface. KYC checks add security, although some users may wish to remain private. No credit checks or deposit fees. Low withdrawal fees with a free <10 per calendar month, per withdrawal.
Gemini are an established cryptocurrency exchange, operating since 2014 with no security flaws or hacks. Due to its role as a private exchange, Gemini is fully licensed and maintains a great level of reliability. This platform makes a great choice for experienced traders, with an immersive interface and over 23 supported currencies. Their sandbox mode also allows for simulated trading, should you want to practice.
With no deposit fees free withdrawals of <10 per month, we feel these fees are fair. However, some fees remain higher than competitors, such as a convenience fee 0.50% above market rate and a transaction fee ranging between $0.99 to 1.49%. This is marginally higher than other exchanges. Users can buy, sell and hold a number of different coins at once, thanks to the multi-currency wallet.
- Fully licensed
- No deposit fees
- Cold wallet storage
- Multi-currency wallet
- Very secure - never hacked
- Over 23 supported currencies
- Free withdrawals <10 per month
- A good exchange for experienced traders
- Gemini Sandbox allows for simulated trading
- No margin trading
- Limited deposit options
- Supports only one Fiat currency - USD
- Holds user keys - security issue for some
- Interface may prove tricky for new traders
- KYC checks improves security, however some may wish to stay anonymous
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