What is Gemini.com? Is it one that you can trust? How impressive is it on the overall? These are just but some of the elements of Gemini.com that we shall be addressing in today’s review. To get an even clearer understanding of the platform, here are the subtopics that we shall go through:
- What is Gemini.com?
- What can you expect from the exchange platform?
- The coins offered on Gemini.com?
- The Gemini Wallet: What you should expect?
- The fees charged on this platform
- Is Gemini.com Legit 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 you only need a limited number of cryptos)
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What is Gemini.com?
Gemini.com exists as a cryptocurrency exchange and trading platform that saw the light of day back in 2015, as the brainchild of the famous Winklevoss twins. The name Gemini was picked from the Zodiac sign, Gemini, as you might have already guessed. The name has since then become a trademark and has helped the twins push their agenda in the world of cryptos.
The Winklevoss’s twins’ popularity actually came before they created and launched Gemini. Back in 2004, they were involved in a legal battle with Mark Zuckerberg. The twins claimed that Mark stole the Facebook idea. The twins managed to get a $65 million settlement in damages.
Apart from this legal battle, then twins are also well-known for their 2011 Bitcoin purchase that left many amazed. The two managed to make a purchase of $11 million worth of BTC a time when one coin went for $120 only. To date, their tokens are worth $1 Billion+.
This platform is based in New York. Here, its staff members oversee its main operations and see to it that the customers are well-attended to. It is perhaps safe to say that Gemini.com is not as large as platforms like Binance and Coinbase, based on the 24-hour trading volumes, but it is popular for security. Gemini.com strives to maintain its edge in the market by guaranteeing safety so that the clients can have the peace of mind as they go about their daily activities. Some of the security measures that have been put in place include a comprehensive KYC process that is meant to encourage compliance. The other one is the presentation of insured wallets to the customers.
What can you expect from the exchange platform?
Gemini.com has an exchange platform that unfortunately has very few tokens for now. If you are looking for a platform that will give you a wide variety of coins then Gemini is not your go-to option. If you want the few tokens, however, you can look forward to the following features on the exchange platform:
- An easy-to-use UI– Gemini has created an exchange platform that is very easy to use. You can begin buying or selling cryptos simply by the touch of a button
- The Gemini Mobile app– Just like most major crypto exchanges, Gemini.com does offer a mobile app, alongside the web-based platform. The app is meant to make things easy for those who are interested in buying or selling cryptos on the go.
- Easy crypto payment – Gemini.com recently partnered with Flexa, a payment processor, in a bid to deliver the capability to pay for products and services using cryptos to its customers.
The coins offered on Gemini.com?
With Gemini.com, you can only purchase a very limited number of tokens, which some is something that some customers would be okay with. For the longer period of its existence so far, this platform only supported BTC and ETC. With time, however, this exchange has introduced a couple of extra popular cryptos, including:
You can check their official website from time to time to see if the coins you are looking for have been added to their offerings.
The Gemini Wallet: What you should expect
The Gemini wallet makes it possible for customers to purchase, sell, send, and receive cryptos. Your coins can be stored in cold storage or hot wallet, depending on the nature of the transaction at hand. Either way, here are some of the features of the Gemini Wallets that you can benefit from directly:
- They are insured by internationally recognized underwriters.
- The capital in reserve is usually held by a New York Trust that doubles as a licensed fiduciary.
- Gemini has very extensive controls both in the production and storage environments.
With your Gemini wallet, you are usually promised world-class customer service, for all the problems that you experience as you do various transactions. The Gemini.com support staff are available on a 24/7 basis, to see to it that you receive help as soon as you need it.
The fees charged on this platform
Gemini has very defined fees structures for the services and products that it offers to its customers. They are all comprehensively explained on this platform’s official website, and they fall under the categories listed below:
- API fees
- Transfer fees
- Mobile fees
- Web fees
- Activity trader fees
- Market data fees
- Connectivity fees
The crypto deposits are however free from Gemini’s end. You may however be charged varying fees, by your bank. The crypto transfers will also cost you some network fees for every transaction that you make.
Is Gemini.com Legit or is it a Scam?
In my own opinion, I think Gemini.com is a genuine platform. It is one that is delivering valuable products and services in the crypto space, which is something that is actually helping with the mass adoption of cryptos on a global scale. The only drawback is that this platform only offers a limited number of crypto assets, and this may not auger well with a number of investors. Those who only want a secure platform to access a few coins can, however, rely on Gemini.com, since it is quite secure. There are hardly any concrete and comprehensive customer reviews about this platform, though it has a (2.4/5) star rating on Trustpilot. There’s not much to pick about the nature of customer service from these reviews, though it is apparent that Gemini.com is well-known for being a secure crypto exchange.
If you want to access a wider variety of cryptos on a secure and efficient platform, then you can try out my number on the recommended alternative to Gemini.com.
Pros and cons
- It is secure
- It is a user-friendly platform
- You can expect lower fees on the overall
- Very limited banking methods
- There are a limited number of coins available for purchase or sale.
Final words and verdict
Overall rating: (3 / 5)
Gemini.com is a secure platform that offers a limited number of cryptos that you can purchase or sell at will. Its fees are generally lower than most competitors in the crypto industry, which is a good thing for customers who want to exchange the few cryptos it offers quite often. I, however, believe that a crypto exchange should not be limiting. You should have the liberty to choose from as many coins as possible since this comes with numerous benefits, moreso if you are trying to make an income as you purchase and sell cryptos. To that regard, you can have a look at what my number one recommended crypto exchange platform has to offer. Hopefully, it will satisfy your crypto exchange needs.
Thank you for sticking through to the end of my review about what Gemini.com is about. I hope you gained enough knowledge about it to make a decision about whether you will be relying on it or not. All the best!
Blogger, Bitcoin Investor, and team member on Start Make Stop Waste!