- Solid and trustworthy company
- Low or no fees
- Is available for residents of New York state
- High level of security
- Slow verification process
- No privacy
- Poor support
Gemini is a fully regulated, fully compliant, New York-based digital asset exchange for both individuals and institutions. Also it received full license as an Ethereum Exchange first. Gemini provides its services for the US, Canada, Hong Kong, Korea, Japan, UK, etc. Also, customers from New York state are welcome. In conjunction, Gemini offers custodial services for institutions exclusively.
Fees calculation run in a real time. Furthermore, many other exchanges take cryptocurrency rate especially from Gemini. The rate updates work flawlessly.
Domestic bank transfers arrive the same or the next work day, ACH – immediately. However, sometimes it depends on your bank or a country. Cryptocurrency takes some time to go into account – it need 3 confirmations for BTC, and 12 confirmations for ETH.
For BTC or ETH has no limits at all. ACH deposit – $500 daily and $15,000 monthly for individual account, $10,000 daily and $300,000 monthly for institutional account. While ACH withdrawal – $10,000 daily and no monthly limits for Individual and Institutional accounts. Wire transfers (withdrawal and deposit) come with no limits for both types of accounts.
Verification process and privacy
They require to provide full personal details from the very beginning. ID, Driver’s License or Passport requested. Gemini states that verification process should take from 1 to 3 days, but some reports say that waiting time exceeded 30 days though. Furthermore, Gemini stores all full logs.
As usual, the main security feature is Two-Factor Authentication. It guarantees the basis for security. In addition, funds securely hang in a cold storage. Most noteworthy, assets kept by Gemini got insurance, so even in a case of a breach or hack, users will get back what was lost.
To get an answer from the Gemini, there’s an only option presented – support ticket. No phone or any other support options like live chat available, sadly. How long Gemini support takes to answer – it depends on the load of work mostly, so it varies.
First of all, Gemini has a great name and proved their name since it was founded in 2015 by Winklevoss twins. Besides private customers, Gemini allows institution accounts for trades use. Platform works stably, but for a newcomer it may seem a bit confusing from the first view.
However, since only two cryptos are presented for trading and exchanging, Gemini hardly competed with other big trading platforms like Bitfinex or Bitstamp. Also verification takes too long sometimes. Most of all, we missed mobile application for any OS. As a result, we cannot put it on the top list of cryptocurrency exchanges and trading platforms.
Reviewed by Coinsmaniac