Gemini
Gemini is a centralised cryptocurrency exchange platform that targets US traders. It is registered as a New York State limited liability trust allowing it to deal with both individuals and institutions. It was started in 2014 by Cameron and Tyler Winklevoss.
The platform receives about 400 thousand unique visits every week.
It supports trading in 10 cryptocurrencies across 78 markets.
Accounts can be funded in USD
Low transaction costs
High bitcoin liquidity
Minimalistic platform design
Limited markets and tools to trade in
No advanced trading options available
Impossible to make instant deposits
Payment method and transaction costs
Gemini only allows deposit and withdrawal of USD fiat currency through ACH (Automated Clearing House) transfers. The advantage of ACH transfers is that they are free and faster compared to wire transfers.
A trading fee of 0.25% is charged on transactions. While Gemini does not put any deposit or withdrawal limits for both institutions and individuals, bank transfers via ACH have predetermined daily, weekly and monthly deposit limits for both individuals and organizations.
Platform
Web Platform design is simple with only the necessary buttons on each page making it easy to navigate. According to Google ranking, Gemini website has a page speed rank of 50/100. Therefore it takes several seconds to load. It is not optimized for mobile devices making loading speed on mobile devices slower. Gemini is not yet available as a mobile app.
Availability
Gemini is available in most US states apart from Arizona, Hawaii, Alaska, Oregon, and Wisconsin.
Security
It is considered one of the safest Bitcoin exchange platforms for US residents. It adheres to the Bank Secrecy Act and Anti-money laundering regulations. All customer deposits are insured under the Federal Deposits Insurance Corporation. Account verification procedure requires customers to reveal sensitive information about themselves. It also incorporates a 2-factor authentication process to be able to log in.
