Gemini š Login
Last updated
Last updated
Gemini launched in 2015 as a cryptocurrency trading platform appealing to both beginner investors and active traders, with several options for buying and selling cryptocurrencies.
It doesnāt have as much trading volume as competitors like Coinbase or Kraken ā you may have only heard of Gemini because of its founders, Tyler and Cameron Winklevoss, who are famous for their legal battles with Mark Zuckerberg over the creation of Facebook. But the exchange offers over 40 cryptocurrencies, a learning hub to teach beginners all about crypto investing, and a suite of unique products which can add more value for seasoned investors.
Offerings like Gemini Earn, Gemini Pay, Gemini Wallet, and more can help investors tap into a more cohesive ecosystem than other exchanges may offer. Still, itās important to remember that for retirement-minded investors, buying and holding (or HODLing) is the name of the game, and you donāt need any of these special features to do that.
Hereās what you need to know about Gemini:
Strong security measures
Over 40 cryptocurrencies to choose from
Simple interface for beginners, combined with more advanced options for active traders
Available in all U.S. states
Earn up to 7.4% APY on your cryptocurrency balance with Gemini Earn
Learning hub
High fees based on market price
May be complicated for true beginners
Over 40 cryptocurrencies available
Trading fees include spread and fee per transaction
No account minimum
Minimum trade amount equal to the smallest amount of each crypto that can be traded
Gemini Earn program allows you to earn interest on your holdings
Available in all U.S. states
Cryptopedia education hub
Insurance plan and majority of assets held in offline cold storage
Offers multiple products like Gemini ActiveTrader for frequent buyers and sellers, Gemini Pay to use your cryptocurrency at stores, and more
Gemini supports over 40 cryptocurrencies including:
Bitcoin (BTC)
Ethereum (ETH)
Chainlink (LINK)
Dogecoin (DOGE)
Polygon (MATIC)
Dai (DAI)
Uniswap (UNI)
Bitcoin Cash (BCH)
Litecoin (LTC)
Filecoin (FIL)
Each crypto has its own withdrawal fees, if you plan to move your coins to your own wallet or another exchange, but these donāt kick in until you withdraw more than 10 times per calendar month. Coinbase, in comparison, doesnāt have any restrictions on how many times you can withdraw, but you may be charged a portion of the cryptocurrencyās network fee when you withdraw to a non-Coinbase crypto wallet.
Geminiās trading minimum for any coin is simply the smallest amount of each coin that can be traded (the smallest amount of Bitcoin you can trade, for example, is 0.00001 BTC). Gemini offers a list of trading minimums for cryptocurrencies available on its website.
Youāll be charged both a convenience and a transaction fee every time you buy or sell crypto on Gemini. These fees are the same whether you buy on Geminiās online site or through the mobile app. Both will be displayed together as your āquoted priceā before you make your purchase final.
The convenience fee is about 0.5% of the Gemini market price for a given trade, though it can vary depending on the market. This fee is also charged in the crypto you buy. For example, if Bitcoin (BTC) is currently trading at $30,000 for 1 BTC, youād actually pay $30,150 for 1 BTC including the fee.
On top of the convenience fee, youāll be charged a transaction fee based on the amount you trade. For crypto conversions ā such as trading Bitcoin for Litecoin ā this fee is a standard 1.49%. For buying and selling crypto, the fee varies by the type of currency you use, and ranges from a flat fee for less expensive orders to a percentage of more costly transactions.
Here is the fee schedule for U.S. dollar transactions:
Letās say you wanted to buy $100 worth of Bitcoin, when Bitcoin is trading at $30,000 per 1 BTC. The convenience fee makes the price of 1 BTC on Gemini actually $30,150. So when you place your order for $100, Gemini would subtract the $2.99 transaction fee, then calculate your fraction of 1 BTC based on a price of $30,150. Ultimately, youād end up with 0.00321758 BTC, rather than the 0.00333333 BTC.
That may not seem like much in terms of fractional amounts of Bitcoin, but it can add up if youāre buying more crypto over time, and reduce the actual amount youāre investing now. Despite the price, the security features you get with Gemini can make it worthwhile, especially for beginners.
As you get more advanced, you may choose to switch over to Geminiās ActiveTrader service. Geminiās ActiveTrader and custodial trading platforms offer different (and less costly) fee structures, though these platforms can be much more complicated to navigate.
You can move crypto from your own wallet or another exchange to trade on Gemini, or deposit U.S. dollars into your account to make a trade. Thereās no fee for depositing money into your Gemini account, unless you use a debit card.
You also wonāt be charged for withdrawing crypto from your account, or withdrawing U.S. dollars from your account after selling your crypto, as long as you make under 10 withdrawals per month. If you withdraw more than that, most cryptos will incur a fee. For comparison, Coinbase charges a fee each time you move your crypto to an outside, non-Coinbase wallet, while U.S. dollar withdrawals (via most methods, including bank account or PayPal) are free.
Any money you have in cryptocurrency is not FDIC-insured, unlike money in a bank account. But Gemini secures usersā digital assets through multi-layered security measures, which are highlighted on its website. https://www.gemini.com/
TRANSACTION AMOUNT
FEE
Less than $10
$0.99
Between $10 and $25
$1.49
Between $25 and $50
$1.99
Between $50 and $200
$2.99
More than $200
1.49%
DEPOSIT TYPE
COST
All cryptocurrencies, ACH transfer, Gemini dollar (redemption)
Free
Wire Transfer
Free
Debit Card Transfer
3.49% of total purchase amount