Gemini Crypto Currency Exchange Review : Must Read

Investment in cryptocurrency is gaining momentum these days, with the growing number of investors the industry is booming with the recent bull run. Not only retail investors many big companies are also investing in cryptocurrencies. Cryptocurrencies have shown massive growth in the last few months. And that has gained the confidence of the retail investors. The first step of your starting your investing journey is to select an exchange. That’s where the main confusion starts for most people. There are many cryptos exchanges in the market that have different merits and demerits, so people automatically get really confused that which exchange to select.

Today, through this article I will review one exchange and list all the merits and demerits of the same that will ease your confusion a little. I will review Gemini Exchange.

Introduction

Gemini exchange is famous for the newcomers in the industry It was founded in the year 2014 by the twin brothers Cameron Winklevoss and Tyler Winklevoss, who have sued Mark Zuckerberg over Facebook. They have created ConnectU before Facebook. The exchange is based in New York and that makes it one of the few exchanges that are based in the U.S. It is one of the few regulated and the most secured exchanges in the industry. This exchange is regulated by the New York State Department of Financial Services. It supports more than 20 cryptocurrencies including its own native cryptocurrency called Gemini Currency (GUSD). The exchange is available in almost all US states, along with Canada, Hong Kong, Puerto Rico, Singapore, South Korea, and the UK. Gemini is also an ideal platform for users who takes many trades every day. And the professional traders will enjoy the enhanced security features to protect both their normal and digital currency deposits. This feature gives them more confidence in putting large sums online that they need to trade on a larger scale which some professional traders do every day.

Features

User Interface – This exchange is very easy to use and its user interface is just amazing. Customers believe that if you are looking for an exchange that works as beautifully as it works then there is no better place than Gemini exchange.

Mobile APP – Just like the desktop version the exchange’s mobile app is also very simple and gives you a great experience. With the introduction of the app now you can trade from anywhere in the world with just a few clicks.

Easy Payments – Recently, a crypto payment processor called Flexa has created considerable waves in the blockchain industry. Many retailers like Gametop, Nordstrom, Home Depot, and Whole Foods have partnered with them to accept crypto payments that are a major adoption milestone for digital currencies. And Gemini also recently partnered with Flexa that enables its customers to easily spend cryptocurrency from the comfort of the Gemini wallet.

Customer support – The company has excellent customer support services. According to the customers, the platform is filled with helpful tidbits that should solve their questions, but if they need a more personal touch, they can mail them and they can usually expect a reply by email on the same day.

Also Read : Bityard Review

Deposit methods

Gemini now accepts a normal currency that is USD only as well as various crypto digital assets such as BTC, ETH, LTC, BCH, BAT, Link, and others. It also accepts deposits made by automatic clearinghouses in the United States and transfers the wire elsewhere like Canada, Hong Kong, Singapore, South Korea, etc. No other deposit methods are currently accepted by the exchange.
So to sum up, the deposit methods and withdrawal channels of the company are as follows:
Credit/Debit Card are accepted and the cards that are accepted Visa, MasterCard, and American Express.
Local banks transfer from American banks.

Fees

All the payment methods like bank transfer, wire transfer, etc are completely free to deposit on behalf of the company. But in addition to this, users will have to pay a network fee for either crypto Bitcoin/Ethereum deposits. The exchange’s fees are slightly different from those offered on other crypto digital assets exchange platforms. They depend on 30-day trading volume. There are six tiers of fees. And This ranges from light traders to huge amounts of crypto and ether.
There is a facility fee of 0.50% below the market rate. If you want to find the convenience fee amount, multiply 0.50% (1.005) by the amount of the currency you want to buy. And there is also a flat wire transfer for orders placed through their web or mobile application. The transaction fee ranges from $0.99 to 1.49%.

Advantages

• The exchange doesn’t store all the assets online instead, they store most of the assets offline so that they can be safe from any kind of hacking activity.
• Gemini is fully registered and compliant with banking standards that make it a suitable platform for institutional investors.
• As I already mentioned that they have great customer support services, so it is an amazing quality of the exchange.
• The website is very user-friendly and easy to use. That’s the reason it is famous among beginners.
• The trading fees are also less than other exchanges in the industry.

Disadvantages

• The registration process is very long and they need many personal data that many users are not comfortable giving.
• Gemini cannot handle high volumes, customers say that it often goes offline in times of high volume.
• The biggest demerit is that it has a limited way of payment methods available.
• And they also have limited cryptocurrency support as compared to other exchanges.

Process of opening an account

1. Visit the website Gemini.com.

2. Then click Register at the top of the page.

3. Then you have to fill in the information on the next page. That includes your full name, your email address, and a password. When you have completed it, read the User Agreement and Privacy Policy.

4. After that click on the link Create my account.

5. You have to fill in your phone number on the next page. They will send a code to your phone to check your real number. You must enter it in the corresponding box.

6. The next step is to link your bank account details to the Gemini exchange account. Just fill in the answers to the questions that are asked.

7. After adding your bank account, they will need to verify your identity. For that, you have to submit the asked documents.

8. It will take one to three days to thoroughly verify your deposit.

At last, we can say that we can just inform you about all the details of the exchange but it is good or bad, it is suitable for you or not that depends on you. So select an exchange according to your criteria.