GEMINI

Overview of GEMINI

GEMINI, a U.S.-based virtual currency exchange established in 2014 and regulated by the NYSDFS, offers a diverse range of cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Exclusively avoiding margin trading and leverage, GEMINI operates through its user-friendly Gemini Trading App available on mobile and web platforms. Committed to education, the Gemini Academy provides resources for cryptocurrency trading. With a strong emphasis on regulatory compliance and security, GEMINI is overseen by multiple agencies, including NMLS, FCA, and NYSDFS, instilling confidence in users. Despite a thorough verification process, its focus on security and user support positions GEMINI as a reliable choice in the virtual currency landscape.

Pros and Cons

Pros

• Regulated exchange overseen by NYSDFS: Gemini is a regulated cryptocurrency exchange licensed by the NYSDFS. This means that it adheres to strict regulatory standards and is subject to regular audits.
• Wide range of cryptocurrencies available: Gemini offers a wide variety of cryptocurrencies to trade, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Zcash. .
• User-friendly trading platform (Gemini Trading App): Gemini's trading platform is designed to be user-friendly and easy to navigate, even for beginners. It offers a variety of features, such as charting tools, order types, and market data.

Cons

• No margin trading or leverage offered: Gemini does not offer margin trading or leverage, which means that users cannot borrow funds from the exchange to increase their trading size. This can limit potential profits but also reduces the risk of losses.
• Thorough verification process can cause delays for users: Gemini's verification process is thorough to ensure the security of its users' funds. However, this can also cause delays for new users who are trying to open an account.

Regulations

GEMINI is regulated by multiple regulatory agencies. It is regulated by the Nationwide Multistate Licensing System (NMLS), with a Regulation Number of 1518126 and a Regulation Status of “Regulated.” The license type associated with this regulation is MTL License, and the license name is Gemini Trust Company, LLC.

Additionally, GEMINI is regulated by the Financial Conduct Authority (FCA), with a Regulation Number of 900988 and a Regulation Status of “Regulated.” The license type for this regulation is EMI License, and the license name is Gemini Trust Company, LLC.

Furthermore, GEMINI is regulated by the New York State Department of Financial Services (NYSDFS). However, the specific Regulation Number for this agency is unreleased. The Regulation Status is “Regulated,” and the license type is Digital Currency License. The license name is Gemini Trust Company, LLC.

Security

GEMINI has implemented various security measures to protect user assets. One important aspect is the platform's regulatory compliance, which helps ensure the security and legitimacy of the exchange. GEMINI is regulated by multiple agencies, including the Nationwide Multistate Licensing System (NMLS), the Financial Conduct Authority (FCA), and the New York State Department of Financial Services (NYSDFS). These regulatory bodies set standards and conduct audits to ensure the safety of user funds.

In addition to regulatory oversight, GEMINI prioritizes the safety of customer funds by offering cryptocurrency custody services. This reduces the risk of theft or loss and provides an added layer of protection.

While it is difficult to provide specific user feedback, GEMINI has gained a reputation for its focus on security and transparency. The exchange has not experienced any major security breaches or hacks, which can be seen as a positive indication of its security protocols.

Trading Market

Gemini operates a bustling trading market that caters to a wide range of traders, from beginners to experienced professionals. Its expansive marketplace encompasses a variety of trading products and services, providing traders with the flexibility and tools they need to navigate the dynamic cryptocurrency landscape.

• Spot Trading Market

At the heart of Gemini's trading market lies the spot trading market, where users can buy, sell, and trade cryptocurrencies at prevailing market prices. The spot trading market offers a diverse selection of over 70 cryptocurrencies, including established blue-chip coins like Bitcoin (BTC) and Ethereum (ETH), emerging altcoins, and DeFi tokens.

• Futures Trading Market

For traders seeking to speculate on the future price of cryptocurrencies, Gemini's futures trading market provides a sophisticated platform with leveraged positions. Popular futures trading assets include Bitcoin Futures (BTC) with up to 150x leverage and Ethereum Futures (ETH) with up to 100x leverage. USDT-Margined Futures offer flexibility and risk management options by using USDT as collateral.

• Lending and Staking Market

Gemini's lending and staking market enables users to generate passive income on their cryptocurrency holdings. By lending cryptocurrencies to borrowers, users can earn interest payments. Staking certain cryptocurrencies allows users to participate in validating blockchain transactions and receive rewards.

• Over-the-Counter (OTC) Trading

For institutional clients and large-volume traders, Gemini's OTC trading desk provides a customized approach to trading cryptocurrencies. OTC trading facilitates block trades, allowing for the execution of large orders with minimal impact on market prices.

• Gemini Dollar (GUSD) Market

Gemini Dollar (GUSD), a stablecoin issued and backed by Gemini, plays a crucial role in the trading market. Its peg to the US dollar provides stability and serves as a reliable medium of exchange for cryptocurrency transactions.

Gemini's trading market stands out for its liquidity, tight spreads, and robust security measures, ensuring a reliable and efficient trading experience for its diverse user base.



Cryptocurrencies available

GEMINI offers a variety of cryptocurrencies for trading. Some of the cryptocurrencies available on GEMINI include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Zcash (ZEC), Orchid (OXT), Chainlink (LINK), Compound (COMP), Basic Attention Token (BAT), and Dai (DAI).

Cryptocurrency prices can be subject to fluctuations on exchanges, as they are influenced by various factors such as market demand and supply. It is important for users to stay updated on the latest cryptocurrency prices and market trends when engaging in trading activities.

Services

Gemini offers a suite of services that extend beyond mere cryptocurrency buying and selling. These services cater to various aspects of cryptocurrency ownership and management, providing users with a holistic and convenient experience.

• Gemini Wallet:

Gemini's secure and user-friendly wallet allows users to store, send, and receive a variety of cryptocurrencies. The wallet offers robust security measures, including two-factor authentication and multi-signature support, to safeguard users' digital assets.

• Gemini Credit Card:

The Gemini Credit Card, issued by WebBank, enables users to earn crypto rewards on everyday purchases. Cardholders can earn 3% crypto back on dining, 2% crypto back on groceries, and 1% on all other eligible transactions. Rewards can be redeemed in over 60 cryptocurrencies, expanding users' crypto holdings passively.


• Staking and Lending Services:

Gemini's staking and lending services provide opportunities for users to earn passive income on their crypto holdings. By staking certain cryptocurrencies, users can participate in validating blockchain transactions and receive rewards. Lending allows users to lend their cryptocurrencies to borrowers and earn interest payments.

• Gemini Dollar (GUSD):

Gemini Dollar (GUSD), a stablecoin issued and backed by Gemini, offers a stable asset pegged to the US dollar within the cryptocurrency market. GUSD serves as a reliable medium of exchange and can be used to hedge against the volatility of other cryptocurrencies.



Institutional Services:

Gemini caters to institutional clients with a suite of tailored services, including custody, eOTC trading, and customized solutions for businesses, private wealth, professional traders, and fintechs.

Custody Services: Gemini's institutional-grade custody service safeguards institutional clients' digital assets with industry-leading security measures.

eOTC Trading: Gemini's eOTC (electronic Over-the-Counter) trading desk facilitates large-volume cryptocurrency transactions for institutional clients.

Businesses and Private Wealth: Gemini partners with businesses and private wealth management firms to integrate cryptocurrency into their investment strategies and client portfolios.

Professional Traders: Gemini caters to professional traders with advanced trading tools and features, including ActiveTrader, API access and Competitive fees.

Institutional Investors: Gemini provides institutional investors with secure and compliant access to a diverse range of cryptocurrency investment products, including Spot trading, Futures trading, Lending and staking.

Fintechs and Banks: Gemini partners with fintech companies and banks to facilitate the adoption of cryptocurrency into their financial services offerings.



GEMINI APP

The Gemini app is a mobile application that allows users to buy, sell, and trade cryptocurrencies. It is a user-friendly and secure platform that is available on both iOS and Android devices. The app offers a variety of features, including:

• A simple and intuitive interface that is easy to use
• A variety of order types, including market orders, limit orders, and stop-loss orders
• Real-time market data for all supported cryptocurrencies
• The ability to set up price alerts
• A built-in wallet for storing cryptocurrencies
• 24/7 customer support


How to open an account？

The registration process of GEMINI consists of the following steps:

1. Visit the GEMINI website and click on the “Get Started” button to begin the registration process.



2. Provide your email address and create a strong and secure password for your GEMINI account.



3. Verify your email address by clicking on the verification link sent to your registered email.

4. Complete the KYC (Know Your Customer) process by providing your personal information, including your full name, date of birth, and residential address.

5. Upload a copy of your government-issued identification document, such as a passport or driver's license, to verify your identity.

6. Once your identity is verified, you can proceed to set up two-factor authentication for an added layer of security for your GEMINI account.

By following these steps, you can successfully register and create your account on GEMINI to start trading cryptocurrencies.

How to Buy Cryptos？

Below is a detailed, step-by-step guide on how to purchase cryptocurrencies on GEMINI:

How to Buy Cryptos on the Web Interface:

• Navigate to the Market page and choose your desired cryptocurrency.
• Click on “Buy” and decide between a one-time purchase (Once) or a Recurring buy.
• Enter the amount you wish to buy and click “Continue.”
• Choose your preferred payment method, then proceed to the confirmation screen.
• Review your order details and, if satisfied, click “Confirm” to execute the order instantly.

How to Buy Cryptos on the App:

• Tap on the “Market” tab at the bottom left of your screen.
• Choose the cryptocurrency you want to purchase.
• Tap “Trade,” then “Buy.”
• Opt for a Single buy or Recurring buy.
• Enter the purchase amount and tap “Continue” to select your payment method.
• Review your trade on the next screen and “Swipe to confirm” for the order to execute instantly.


Fees

Below is an in-depth overview of the trading fees structure on Gemini:

ActiveTrader Fee

The ActiveTrader fee schedule is based on your 30-day trailing trading volume. For those with a notional volume below $10,000, the Taker Fee stands at 0.40%, with a Maker Fee of 0.20%. As trading volume increases, the fees progressively decrease, showcasing a commitment to incentivizing higher activity. Notably, for substantial volumes exceeding $500,000,000, both Taker and Maker Fees reach a minimal 0.03%, providing a competitive edge for high-volume traders. This tiered approach ensures a dynamic and fair fee structure, encouraging users to engage in diverse trading activities on the Gemini platform.

30-DAY TRADING VOLUME IN (USD NOTIONAL)	TAKER FEE	MAKER FEE
0	0.40%	0.20%
≥ $10,000	0.30%	0.10%
≥ $50,000	0.25%	0.10%
≥ $100,000	0.20%	0.08%
≥ $1,000,000	0.15%	0.05%
≥ $5,000,000	0.10%	0.03%
≥ $10,000,000	0.08%	0.02%
≥ $50,000,000	0.05%	0.00%
≥ $100,000,000	0.04%	0.00%
≥ $500,000,000	0.03%	0.00%

Web Fee

Gemini's Web Fee Schedule applies to all website orders, encompassing a Convenience Fee and a Transaction Fee. Prior to order placement, users receive a Quoted Price, inclusive of the Convenience Fee. The Transaction Fee, dependent on the order amount, is transparently displayed. See the provided Fee Examples for detailed breakdowns.

WEB ORDER AMOUNT - USD	TRANSACTION FEE¹ - USD
≤ $10.00	$0.99
> $10.00 but ≤ $25.00	$1.49
> $25.00 but ≤ $50.00	$1.99
> $50.00 but ≤ $200.00	$2.99
> $200.00	1.49% of Web Order value

Mobile Fee

The Mobile fee schedule is identical to the Web fee schedule.

Custody Fee

The custody fee is 0.4% or $30 per month per asset.

Deposit & Withdrawal

Gemini supports a variety of payment methods, including:

• ACH Transfers: ACH transfers are the most common form of bank transfer in the United States. They typically take 4-5 business days to settle, but funds are typically available for trading instantly (at Gemini's discretion).
• Wire Transfers: Wire transfers are a faster way to deposit funds, typically taking 1-3 business days to settle. Funds are also available for trading instantly (at Gemini's discretion).
• Debit Cards: Debit cards can be used to make instant purchases of cryptocurrencies. However, funds will not be available for withdrawal for 24 hours.
• Google/Apple Pay: Google/Apple Pay can also be used to make instant purchases of cryptocurrencies. Funds are also available for trading instantly.
• Bank Transfer (EUR and GBP): Bank transfers in EUR and GBP are available to residents of the European Union and the United Kingdom. They typically take 1-3 business days to settle and are available for trading instantly.
• FAST transfer (SGD): FAST transfers in SGD are available to residents of Singapore. They typically take up to 48 hours to settle and are available for trading instantly.
• PayPal: PayPal is available to residents of the United States and Canada. Deposits typically take 1-5 business days to settle and are available for trading instantly. Withdrawals to PayPal are not supported.
• CBIT™: CBIT™ is available to residents of the United States. Deposits and withdrawals are instant.
• Plaid Direct Payments (UK): Plaid Direct Payments are available to residents of the United Kingdom. They typically take 1-2 business days to settle and are available for trading instantly (at Gemini's discretion).

The minimum deposit for all payment methods is $100. However, the minimum deposit for PayPal is $25.

Gemini charges a variety of fees, including:

• Platform Fee: A 3.49% platform fee is charged on all instant purchases made with a debit card or Google/Apple Pay.
• Trading Fees: Trading fees are charged on all trades. The trading fee schedule is based on your 30-day trailing trading volume.
• Withdrawal Fees: Withdrawal fees are charged on all withdrawals. The withdrawal fee schedule is based on the payment method.

Payment processing times vary depending on the payment method. The following table summarizes the payment processing times for each payment method:

Payment Method	Deposit Processing Time	Withdrawal Processing Time
ACH Transfer	4-5 business days	2-5 business days
Wire Transfer	1-3 business days	1-3 business days
Debit Card	Instant	1-5 business days
Google/Apple Pay	Instant	1-5 business days
Bank Transfer (EUR and GBP)	1-3 business days	1-5 business days
FAST transfer (SGD)	Up to 48 hours	Up to 48 hours
PayPal	1-5 business days	Not supported
CBIT™	Instant	Instant
Plaid Direct Payments (UK)	1-2 business days	2-5 business days



Customer Support

GEMINI offers customer support to assist users with their inquiries and concerns. The customer support team is available 24/7, allowing users to reach out for assistance at any time.

Gemini provides responsive customer support through various channels.

Users can contact them via phone at 1-800-342-3736 or reach out through the official website, https://gemini.com/.

For inquiries related to the Asia-Pacific region, the dedicated page is https://www.gemini.com/apac/hong-kong. Additionally, support is available via email at support@gemini.com.

Gemini maintains an active presence on Twitter (https://twitter.com/gemini), offering timely updates and assistance.



Is GEMINI a Good Exchange for You？

Gemini is the best exchange for beginners and intermediate traders seeking a user-friendly platform with a comprehensive suite of educational resources and a strong focus on regulatory compliance.

GEMINI is suitable for various trading groups due to its regulatory compliance, security measures, and range of available cryptocurrencies. Here are some target groups that may find GEMINI a suitable platform:

1. Beginner Traders: GEMINI's emphasis on security and regulatory compliance provides a reassuring environment for newcomers to the cryptocurrency market. The platform's user-friendly interface and educational resources, such as trading guides and video tutorials, can help beginner traders navigate the complexities of cryptocurrency trading.

2. Experienced Traders: Experienced traders who are looking for a secure and reliable exchange may appreciate GEMINI's regulatory oversight and custody services. The platform's tiered fee structure and discounted fees for market makers can also be advantageous for traders with higher trading volumes.

3. Global Traders: GEMINI's availability in multiple countries and its regulation by reputable agencies like the FCA and NYSDFS make it a suitable choice for global traders. The platform's support for wire transfers and cryptocurrency transfers provides flexibility for traders from different regions.

Controversies the exchange has experienced

Gemini, a cryptocurrency exchange founded by the Winklevoss twins, has been involved in a few controversies over the years.

2016: Gemini was fined $500,000 by the New York Department of Financial Services (NYDFS) for failing to implement adequate anti-money laundering (AML) controls. The NYDFS alleged that Gemini had failed to file suspicious activity reports (SARs) and that it had not properly vetted its customers.

2017: Gemini was accused of insider trading by the Securities and Exchange Commission (SEC). The SEC alleged that Gemini employees had traded on insider information about upcoming price movements. Gemini denied the allegations and settled with the SEC for $900,000.

2018: Gemini was criticized for its decision to delist Bitcoin Cash (BCH). BCH is a hard fork of Bitcoin, and some users believe that it is a legitimate cryptocurrency. However, Gemini argued that BCH was too volatile and that it did not meet its standards for liquidity and security.

2020: Gemini was criticized for its decision to suspend trading of the Basic Attention Token (BAT). BAT is a cryptocurrency that is used to reward users for viewing ads. Gemini argued that it was suspending trading of BAT because it was not satisfied with the way that the BAT team was managing the token.

FAQs

Q: What are the trading fees on GEMINI？

A: GEMINI charges trading fees based on a tiered fee structure that depends on the user's trading volume within a 30-day period. The fees range from 0.25% for users with lower trading volume to 0.10% for those with higher trading volume.

Q: How can I deposit funds into my GEMINI account？

A: GEMINI offers two options for depositing funds: wire transfer and cryptocurrency transfer.

Q: What educational resources are available on GEMINI？

A: GEMINI provides various educational resources, including trading guides, video tutorials, and webinars.

Q: How can I contact GEMINI's customer support？

A: Users can reach out to GEMINI's customer support team through email or a support ticket system. The support team is available 24/7 to assist users with their inquiries and concerns.

Q: Has GEMINI been involved in any controversies？

A: As of now, GEMINI has not been involved in any major controversies or publicized incidents.