Gemini offers a solid experience for a variety of cryptocurrency investors, but trading costs do run at the higher end of the industry range. Those that are new to cryptocurrency will benefit from Gemini’s vast educational content available through its Cryptopedia site, while more experienced traders will appreciate the professional trading platform, ActiveTrader. You’ll be able to trade more than 50 different coins, which should satisfy most crypto investors. If you’re only looking to trade the most popular ones, you might consider more well-known financial apps Robinhood or Webull.
Trading costs run high for Gemini, especially through its website application. You’ll also be charged a fee if you choose to participate in the exchange’s staking program. Binance.US and Kraken might be better choices for customers who are particularly focused on costs.
- Active traders
- Crypto-only trading
- Educational material
Gemini at a glance
|Minimum balance:||None, but trade minimum varies by cryptocurrency type. (.00001 Bitcoin/.001 Ether)|
|Securities tradable:||More than 50 cryptocurrencies|
|Cost per trade:||
|Customer service:||Email, chat and self-help|
|Mobile app:||The Gemini mobile app is available on the Apple App Store and Google Play Store|
Pros: Where Gemini stands out
No deposit/withdrawal fees
You won’t have to worry about getting nickel and dimed on fees when making deposits and withdrawals with Gemini. Wire transfers can be made from your bank account to Gemini without any fees (make sure your bank doesn’t charge a processing fee). You can also avoid fees on withdrawals if you stay under ten each month. Once you go over ten, fees will kick in and the amount varies by cryptocurrency.
Active traders won’t be disappointed by the trading experience offered by Gemini. Advanced charting, different order types, auctions and block trading are all available through Gemini ActiveTrader, the exchange’s top trading platform. Trades can be executed in microseconds and visibility into the order book helps deliver a professional feel to the platform. The site is designed to work with most mobile browsers, so you shouldn’t have a problem accessing it while you’re on the move.
Gemini also stands out for its educational resources available online. You can find answers to basic questions through its support site, but Gemini’s main differentiator is its cryptocurrency educational site known as Cryptopedia.
Cryptopedia aims to answer questions that come up from both novice and experienced cryptocurrency traders. Gemini sees the lack of comprehensive education available as one of the main barriers to crypto adoption and offers Cryptopedia as a solution. You’ll find lots of information on cryptocurrency trading and security, the decentralized finance ecosystem and even NFTs. With so many new traders interested in cryptocurrency, other exchanges would be wise to add similar educational material.
Cons: Where Gemini could improve
High trading fees
Gemini’s trading fees come in at the higher end of the industry and can run very high depending on the platform being used. Trades placed through Gemini’s website application are charged a convenience fee and a transaction fee. The convenience fee is 0.5 percent above the cryptocurrency’s current trading price, while the transaction fee varies based on the size of the order. For orders above $200, a 1.49 percent fee is applied.
For users of the Gemini ActiveTrader platform, the exchange follows the common maker-taker model used by most exchanges and brokers in the industry. Orders that add liquidity (maker) are charged slightly less than orders that take away liquidity (taker). The fees drop to almost zero if you’re trading more than $15 million each month. Here’s how Gemini’s ActiveTrader fees break down based on trading volume.
|30-day trading volume||Maker||Taker|
|Less than $500,000||0.25 percent||0.35 percent|
|$500,000 – $2,500,000||0.15 percent||0.25 percent|
|$2,500,001 – $5,000,000||0.15 percent||0.25 percent|
|$5,000,001 – $10,000,000||0.10 percent||0.15 percent|
|$10,000,001 – $15 million||0.10 percent||0.15 percent|
|$15,000,001 – $50 million||0.00 percent||0.10 percent|
|$50,000,001 – $100 million||0.00 percent||0.075 percent|
|$100,000,001 – $250 million||0.00 percent||0.05 percent|
|$250,000,001 – $500 million||0.00 percent||0.04 percent|
|$500 million and up||0.00 percent||0.03 percent|
Like other exchanges, Gemini gives customers the opportunity to earn rewards by holding deposits of cryptocurrency with the firm through a process known as staking. The process is similar to a bank savings account but comes with significantly greater risks. Unlike Binance.US, which does not charge for its staking program, Gemini charges an agent fee as part of its program. Though it’s not much for popular coins – Bitcoin’s is just 0.03 percent – the fees can add up, especially for more obscure cryptocurrencies. The fee for 1INCH is nearly 3.5 percent, for example.
Gemini’s mobile app provides a satisfactory user experience and will be fine for most cryptocurrency traders. You can track dozens of different coins, place trades and even set price alerts through the app. But if you’re looking for the same professional experience you get from Gemini’s ActiveTrader platform, you’ll need to use a desktop or mobile browser. Adding the features and experience available through ActiveTrader in the mobile app would really set it apart from other exchanges.
Gemini gives both new and experienced cryptocurrency traders reasons to choose its platform. New users will appreciate the strong educational material available through the Cryptopedia website, while experienced traders will benefit from the professional feel of Gemini’s ActiveTrader platform. You also won’t have to worry about withdrawal fees as long as you stay below the monthly limit.
But trading fees run high, especially if you’re using the web application. Cost-conscious users might consider Binance.US or Kraken, which offer similar benefits with lower trading costs.
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