Gemini Review: Is it Legit or Scam | Reviewed in 2018

With the emergence of a large number of exchanges, it is inevitable that you have a hard time choosing your options. And when it comes to bitcoins (or cryptocurrency) trading, you need to consider a lot of aspects.

So, do you run after the lucrative or the more logical approach? The answer is dependent on your investment. Though, having said that, a large number (about nearly 90%) need a stable, authentic, secure, liquid trading platform.

There is umpteen number of cryptocurrency trading platforms these days. Coinbase, Bittrex, Poloniex, and Binance are a few among them topping the list in popularity and user base.

But there is one exchange which has done pretty well over the past few years and has introduced various trading features. So, In this article, you will get to read Gemini Exchange review.

What is Gemini Exchange?

Gemini exchange

Gemini Exchange is one of the fastest growing bitcoin and ether exchange which allows to buy/sell crypto with fiat currency.

It was founded in 2015 by the Winklevoss Twins, Tyler and Cameron who also claimed to be a co-creator of Facebook.

The twin brother accused that Mark Zuckerburg stole their idea and in return, they got $65 million in the lawsuit. At that time, they invested $11 million in BTC making them one of the largest shareholders of Bitcoins. Moreover, The Winklevoss twins claim that they own around 1% of the total bitcoin with over a Billion dollar in valuation.

winklevos twins

Though Gemini exchange is not much old they managed to become of the most reputable Bitcoin exchange in the world.

To your surprise, Gemini is the first licensed exchange in the world. Initially, they started their operation in the USA and later expanded to Canda and U.K.

Getting Started with Gemini to buy BTC & Ethereum:

Buying Bitcoin and Ethereum on Gemini is quite easy even if you are a crypto beginner.


Registering with Gemini is done in a few steps.gemini exchange register

First of all, you need to signup with the email Id and Password to create your account.

gemini exchange signup

Once you verify your email, you need to:

  • Enter your Location and phone number, after that you need to enable 2-Factor Authentication(2FA) that will add an extra layer of security to your account. With 2FA you will get a code via email, every time you log in to your account.
  • Add a bank account which you will use to make the deposit and withdrawals. Make sure to enter your main account as you can add only 1 account at a time through which you will do bank and wire transfers.
  • Upload and Verify your government issued ID. User verification is a very common process undertaken by almost every cryptocurrency exchange available in the market.gemini getting started

Once the verification is completed you can move on to fund your account.

Depositing Funds

Now you need to visit transfer funds section and click on USD bank transfer/Wire Transfer/BTC/ETH. You can select any payment mode as per your requirement.

gemini deposit funds

Once your funds are transferred to Gemini’s bank account, the funds will reflect in your account aswell.

Now its time to buy Bitcoin and Ethereum. One thing that I really liked about Gemini is that you can instantly buy crypto as soon as you make the deposit. However, you cannot withdraw the funds until your bank transfer has been processed, although you can sell the Bitcoin you purchased on the exchange.

This is a good thing because some people might take an unethical advantage of instantly buying and selling the crypto without actual completion of the transfer.

Buy Bitcoin(BTC) or Ethereum(ETH)

On the top header, Click on “Buy“. Select the trading pair you wish to trade like BTC/USD from the right side.

Once selected, you need to enter the price and the quantity you are willing to buy.gemini exchange buy btc

After the order is processed, BTC/ETH will reflect in your Gemini wallet.

Since you know how to buy BTC/ETH on Gemini exchange, now let’s have a look at some important info about it.

Which are the supported countries?

Gemini started its operations from U.S. and currently, it serves customers in 46 states of United States, Canada, United Kingdom, Puerto Rico, Hong Kong, South Korea, and Singapore.

gemini exchange availability

You can find the complete list of supported countries here.

Are there any deposit/withdrawal limits?

Yes, there are limits on both deposit and withdrawals.


Bank transfer$500 per day, $15,000 per 30 days
Wire transferUnlimited

For individual investors, the limit is $500/day, and $15,0000/day. However, Institutions has a high deposit limit of $10,000/day, or $300,000/month.


Bank transfer$100,000 per day
Wire transferUnlimited

What is the Fee Schedule?

Gemini does not have any fee on deposit and withdrawals. However, transaction fees vary between 0.10% between 0.25% for maker & taker. Here you can get a detailed fee structure.

gemini fees

How Secure is Gemini?

Security is one of the top priority which makes them think if their money won’t get stolen in any hack. Hence, Gemini has tried their best to make this exchange extremely secure for the users.

gemini security

There are a few things that give a positive signal for Gemini’s security:

2-Factor Authentication

2FA helps to keep the account safe as you receive a passcode every time you log into the account using your email id. This is a very common security measure practiced by most of the exchanges of the current times.

Storing the fund in Cold Storage

In order to store the users’ funds safely, Gemini store the majority of funds in Cold storage rather than Hot storage. In simple words, the funds are not stored on the live servers thus preventing the loss in case of any hack.

Moreover, Multi signature technology is used to eliminate a single point of failure.

Also, Fiat funds up to $250,000 are insured by  FDIC. These funds are secured from the company operational funds and can be used in case of a mishap.

Ever after such good security, I won’t recommend you to store a large sum of crypto in any exchange for a long period of time, rather shall buy a Hardware wallet like Ledger Nano S.

Compliance with the Regulations

As I told above, Gemini is a licensed company, hence it has to meet strict regulations of New York State Department of Financial Services (NYSDFS). Under these regulations, Gemini needs to keep check of consumer protection, cyber security, funds insurance and much more.

Apart from this, tiered access is granted to the employees/developers on the basis of their roles, following the principle of least-privilege.

All these strict security measures show that Gemini is extremely committed to providing the highest level of security. And this is the main reason that attracts Institutional and high net worth individuals along with regular investors to this exchange.

Pro and Cons


  • User-friendly, good for any trader, novice or experienced
  • It is a licensed exchange
  • Secure and transparent
  • High liquidity
  • Very good customer support and service
  • Competitive trading fee
  • Great capital reserve
  • Experience Team


  • Only available in a few countries
  • Supports only BTC and ETH
  • No mobile app
  • No tools to benefit experienced traders.

Gemini Exchange Review in a Nutshell

As one of the top trading exchanges for cryptocurrencies, it does provide a great deal of customer satisfaction. Be it the unconventional ways it sort of regulating, or its transparency to detail its security measure over its site, Gemini is credible, to say the least.

While it still has to open up to diversity and reach a larger worldwide audience, Gemini is taking the right steps. It is truly bridging the gap between people and financial institutions of future.

That being said, Gemini is a great exchange to buy/sell Bitcoin and Ethereum with fiat currency. In order to improve their service, more cryptocurrencies should be added and it should serve more countries.

In the current times, Gemini is somewhat similar to Coinbase where users can easily buy Bitcoin and Ethereum.

I hope in the near future, we can see Gemini exchange to diverse more in terms of supported countries and cryptocurrencies.

Overall, Gemini is a robust exchange with low trading fee and high security. So I would recommend you to give it a try if it supports your country.

So, This is it for today!

Don’t forget to comment below and tell us your experience with Gemini or any other exchange you have used.

Meanwhile, You can have a look at:

Gemini Review

Gemini Review

Ease for Beginners


Customer Support






Payment Methods



  • High security of funds
  • High Liquidity
  • Average Fee


  • Available only in few countries
  • Supports only BTC and ETH
  • No mobile app

Comments (No)

Leave a Reply