Gemini Review and Ratings

Updated on: July 8th, 2022

Gemini combines the good things about DeFi and card networks so that it can offer more financial services. The Winklevoss twins started the platform in 2014, and it now has 13.6 million active users, which is a big number.

You can set limit, market, and stop-loss orders, just like you would on a regular cryptocurrency exchange.
The various features of this crypto exchange include:

• Easy to use interface
• Supports payments worldwide
• Trading with several cryptocurrencies possible
• High level of security through AICPA
• Cashback on debit card purchases

Advantages and disadvantages of Gemini

Pros

Cons

Various trading opportunities on Gemini

You can’t use leverage or trade futures on a crypto exchange. Instead, crypto exchanges offer spot markets, which means that the trade happens right away. But this can be bad because the fees and market price are usually raised so people can get coins faster.

Also, Active Trader gives advanced users all of the trading options they could want. Spot, stop-loss, leverage, and limit orders can all be placed through the interface.

Automated trading via trading bots

More and more investors like to use a trading bot to do their trading for them. This has the benefit that emotions like fear and greed don’t get in the way of taking action. Trading bots are also able to respond to changes in the market much more quickly.

Do you want more information about trading bots? For example, we’ve had good experiences with Bitcoin Motion because you don’t need to know anything about trading to use it. There are no hidden fees, and it’s easy to sign up. The minimum deposit is only $250. Immediate Edge is also a good choice. If you are a beginner, you can open a demo account with this crypto trading bot. Again, the least you can put down is only $250. So, we can definitely tell you to use either of these trading bots.

Gemini Fees

When choosing a crypto exchange or a cryptocurrency trading broker in Canada, the most important things to think about are fees and processing times. Gemini is clear about how they make money from fees, and each type of fee has its own page on their website. When using a debit or credit card, there are fees of 1.4% for trades under $200 and 3.49 % for trades over $200.

Payment Methods

Using a bank card to buy cryptocurrencies is quick, and you can see the balance on your account right away. We’ll look at how to make a deposit and how to withdraw your money back.

Deposit Methods

Gemini gives its users many ways to put money into their accounts. Here are the most common choices:

• Bank account or card: You can add money to your balance with your bank account and then trade fiat currency for cryptocurrency.
• Other cryptocurrency exchanges: You can move coins from another cryptocurrency exchange to your balance. With the unique wallet address, you can send money to Gemini directly from a cryptocurrency exchange or wallet.
• Crypto wallets: With wallets like MetaMask and Exodus, users can send and receive cryptocurrencies. But make sure that your wallet is linked to Gemini so that you can use the deposit option.

Withdrawal Methods

On Gemini, you won’t find a button to withdraw your money like you can on other platforms. But you can use the “Send” button to send cryptocurrencies to other crypto exchanges or your wallet. Also, you can only use the withdrawal options with certain blockchains. So, you need to make sure you have the right wallet.

• Crypto Wallet: MetaMask and Algorand Wallet are great ways to get coins out of Gemini. But each coin only works with a certain blockchain. So make sure you are using the right blockchain that works with your crypto wallet.
• Crypto Exchanges: Users can send their coins to crypto exchanges by entering their unique wallet address. You won’t have to use a third-party wallet, and you’ll be able to trade coins much faster.

The amount of time it takes to process a withdrawal varies from coin to coin and from blockchain to blockchain. Also, fees are paid in cryptocurrency, and the amount depends on the type of coin you want to withdraw.

How to buy and sell cryptocurrencies on Gemini

How to buy crypto on Gemini

Step 1: Sign up for an account or sign in. Open the dashboard on the on the official website.

Step 2: Pick either “Gemini Exchange” or “Active Trader.”

Step 3: Pick the currency pair. If you want to buy ETH, for example, choose the USDT/ETH pair.

Step 4: After that, you type in how many coins you want to buy.

Step 5: Review the transaction and click “Confirm”. Now you can see the coins on your account.

How to sell crypto on Gemini

Step 1: Open “Active Trader” or “Gemini Exchange.”
Step 2: Decide which coin you’d like to sell. If you want to sell ETH, for example, you could choose a crypto pair like ETH/GUSD.
Step 3: Type in how many coins you want to trade.
Step 4: Check the details of the transaction and click “Confirm.” The money should now be in your Gemini wallet.

Gemini trading platforms

There are two ways to use the Gemini:

• Mobile app: Both Android and iOS users can get the app for free. It lets users access their Gemini wallet from anywhere and send or receive money. Users can also trade coins and read the latest news about cryptocurrencies.
• Desktop: Users can get to the platform through a browser on their PC or laptop. The website is easy to use, and new investors are welcome.

Security

Gemini has invested in a leading security program that is focused on transparency and keeping user privacy safe. Customers can make their accounts safer by turning on two-step authentication. Gemini has more than one way to keep your money safe. The platform has been approved by ISO and works closely with AICPA. Gemini platform also uses SSL encryption to keep your information from getting out.

Customer Support

Gemini gives you a lot of ways to get help. The most common ways to get help are through live chat and email. If there isn’t an employee around, the chat bot can tell you a lot about a subject. Most of the time, email support is quick, but for more important issues, it can take 1–5 days to get a response.

The Frequently Asked Questions section is another place where users can look for answers. The search bar at the top of the page also makes it easy to find articles and find answers quickly.

Conclusion

Gemini is a cryptocurrency exchange where you can quickly buy Bitcoin or Ethereum. This cryptocurrency exchange is so big now that they have their own cryptocurrency debit card that can be used to buy everyday things with cryptocurrencies. Also, the card lets you get up to 3% of your purchases back in cryptocurrency.

Gemini also gives you the chance to make money from passive crypto investments. The part about investing has been kept simple so that even people who aren’t very good at trading can understand it. Users can invest coins over time to build their portfolios and make the most money possible.

The design of the trading platform is impressive and makes it easy to buy cryptocurrencies. Gemini is great for both new and experienced traders because it has two trading platforms that are made for different levels of skill. But, as always, you should do your research before using a crypto exchange because virtual currencies are volatile and the rules vary from place to place.

FAQs

Is Gemini available in Canada?

Yes, Gemini is available worldwide including Canada.

Which is better Coinbase vs Gemini?

Gemini has features that help institutional investors, and Coinbase lets you earn cryptocurrency while you learn how to trade. Either platform is good for people who are just starting out. But Coinbase has a slight advantage because it is available in more countries and lets you buy more kinds of currency.

Can you trade with leverage on Gemini?

Gemini does not offer leveraged trading of crypto assets. Therefore, users have to switch to other providers for leverage trading.

Does Gemini charge a spread?

No, the spreads do not apply to the crypto platform offering.

What are Gemini trading volume and limits?

Gemini has no limits on how much you can trade as long as enough funds in the account to execute the order.

 

More Canadian Crypto Exchange Reviews:

• Binance Review
• KuCoin Review
• Coinbase Review