What is Gemini.com? Does it have an edge over its competitors? Where does it stand out? These are some of the key questions that I hope to help you get answers to by the end of this review. We shall go through the review by getting down to the details under the following subtopics:
- What is Gemini.com?
- What are the outstanding features of the Gemini exchange platform?
- Which coins can you purchase on this platform?
- What is the Gemini Wallet like?
- The fees charged on this platform
- Is Gemini.com genuine or is it a Scam?
- Pros and Cons
Name of the platform: Gemini.com
Official Website URL: https://gemini.com/
Overall Rating: (3 / 5)
Recommended: Yes (If security is your main concern)
What is Gemini.com?
Gemini is a digital asset exchange platform that was founded back in 2015. The Winklevoss twins are behind the existence of this platform. In case you are wondering what the name Gemini has to do with a crypto company, then it is simply the zodiac sign that depicts a pair of twins. I think of it as a clever name for the brilliant idea that the Winklevoss twins put together and presented to the customer base.
The twins were actually popular way before the creation of this company. The most outstanding thing in their pre-Gemini era is the 2004 lawsuit, in which they sued Mark Zuckerberg for the theft of their idea. Tyler and Cameron Winklevoss claimed that Mark Zuckerberg plagiarized their idea when he created Facebook. The lawsuit saw the twins walk away with $65 million in damages. They, however, did not get to receive credit for the existence of this widely-known and used social media platform.
The two went ahead to purchase $11 million worth of Bitcoin back in 2011. At this point, BTC was worth $ 120. Currently, this investment is worth more than $1 billion. Gemini, the company, is based in New York, from where it facilitates the running of the crypto exchange activities. It is well-known for having been the first digital exchange platform to get the license to handle Ether exchanges (back in 2016).
This platform is not as large (by trading volume) as the well-known exchanges such as Binance. Gemini ranks number 39 in the entire world, based on its 24-hour trading volumes. One of the popular things. However, about the platform is that it is one of the most secure ones that you will come across in the market. Its security features are quite impressive, to the extent that it is one of the few platforms that are used to make CBOE Bitcoin futures settlements.
What are the outstanding features of the Gemini exchange platform?
Gemini has a very limited number of coins so far, as we shall see below, and this is probably one of the things that is bound to keep a significant number of customers away. That said, however, they are several features that you can enjoy when you use the Gemini exchange platform, including:
- A decent User Interface – using this exchange system is quite easy. Purchasing Bitcoin is simplified to a simple process that involves hitting the ‘ Buy Bitcoin’ button. The UI makes everything a breeze.
- The Mobile app– Gemini offers a desktop version of the exchange, but you can also access the app. The mobile app makes the buy/sell activities quite easy on the go.
- Easy cryptocurrency payments – with Flexa as Gemini’s payment processor, one can use the wallet to make quick payments to the sellers of specific products and services.
Which coins can you purchase on this platform?
Gemini has established its position in the market as an institutional-friendly crypto exchange. Initially, this exchange only supported BTC and ETH. It has, however, managed to bring in other coins, including LTC, ZEC, BCH, LINK, OMG, BAT, and DAI. The exchange keeps on adding new coins from time to time, so you can always confirm with them if they have your preferred coin.
What is the Gemini Wallet like?
Gemini offers a wallet to its customers so they can buy, sell, and send & receive cryptos at will. Depending on the ongoing transaction, your coins will be stored in the hot wallet or their cold storage wallet. Whichever option you go with, you can rest assured that your tokens are safe and secure. Some of the other features of this wallet are:
- It’s insured by world-class underwriters.
- All the capital in reserve is held by a New York Trust firm, which is also a licensed fiduciary.
- There are extensive internal controls in the production as well as storage environments.
The users of the wallet have access to what Gemini refers to as ‘world-class customer service”. The support team usually works to ensure that all the customers’ issues are resolved within the shortest time possible, and are available on a 24/7 basis.
The fees charged on this platform
Gemini has an extensive schedule of fees that you should pay when using the products and services it is offering. The fees and limits are defined on the official website, under the following categories:
- API fees
- Mobile fees
- Web fees
- Activity Trader Fees
- Custody Fees
- Transfer fees
- Market data fees
- Connectivity fees.
The crypto deposits here are entirely free from Gemini’s side. You may, however, incur some fees and charges from your bank. If you are familiar with crypto transfers, then you know that you can expect to be charged some network fees for every transaction you make.
Is Gemini.com genuine or is it a Scam?
So far, there’s nothing about Gemini.com that points to it being a scam. I think it is a genuine platform that is out to help people go about the digital asset exchange processes with ease. The one thing that stands out so far is that it is a secure platform that clients can trust if they want to not only buy and sell cryptos but also to store them safely. Gemini.com, unfortunately, has very few tokens to offer, and this can be a major downside to those who are out to maximize the benefits of having variety.
The customer reviews on Trustpilot (opens in new window) are not very comprehensive, but they prove that Gemini exists. It unfortunately still has very poor ratings (2.4/5) stars, but one thing still comes up – Gemini.com is secure and trusted.
If you are, therefore, looking for an average platform that offers few coins and a secure wallet, then this is the platform to use. If you are looking for a crypto exchange platform that offers many more cryptos without compromising on security and the quality of services, then you can look at my number one recommended alternative below.
Pros and cons
It might be wise to compare the positives against the negatives to get a better overall view of something, right? As always in our reviews we provide you with some clear points on both sides of the spectrum:
- User-friendly platform
- Limited banking methods
- A limited number of coins for purchase/sale
Final words and verdict:
Overall rating : (3 / 5)
Gemini.com is a legit platform that offers sufficient security to its customers as they exchange cryptos on the platform. It is a platform that I would be tempted to recommend, were it not for the fact that it has very few coins to offer, and that it is not popular for being very efficient. I think my number one recommended alternative to Gemini brings more to the table, as you can prove for yourself by reading my full review.
My #1 Recommended Alternative to Gemini.com (Get your free Crypto ATM Card + $50 Worth of FREE cryptos)
That will be it for today’s review of what Gemini.com is. If you’ve used Gemini.com, then you can share your experience with it in the comments section. If you have any questions about this platform, you can also leave them in the comments section, and I’ll get back to you ASAP. All the best in your endeavors.
Eric, investor, and team member on Gold Retired!