Tyler Winklevoss and Cameron Winklevoss were the developers of the New York-based cryptocurrency exchange Gemini. Established in 2014, this cryptocurrency exchange came under the regulation of the New York State Department of Financial Services.
Gemini is presently one of the biggest cryptocurrency exchanges for traders. The U.S-based platform helps you in buying, selling, and holding cryptocurrencies. The distinctive features have drawn the attention of several investors.
As a Gemini user, you can trade in both cryptocurrencies and altcoins. Moreover, the streamlined interface is one of the major reasons for choosing Gemini. Advanced crypto traders can take advantage of the available tools. A brief review will let you learn more about Gemini.
There is nothing complicated in creating a new account at the crypto investment platform, Gemini.
You need to visit the official site to hit the option- Open a Personal Account.
Then, you have to provide your basic details and generate a password. Click on the Create My Account option.
You have to check the email and find the Activation Code. Enter the code and click on the Submit button. Then you need to go through some steps for identity verification.
You should link your mobile number with your Gemini account. It will help you in receiving the codes for login verification.
Then, connect a bank account with your banking login credentials. Supply the password and username for it. These steps are essential to deposit funds. You can also choose wire transfer for your bank account verification. In the last step, you have to submit the documents to verify your address and identity.
Bonus for new users
As you have recently joined Gemini, you have a chance to win a bonus amount of $150 in your Bitcoin account. To be eligible for this offer, your minimum investment in a month should be $1,000. Although you may find several cryptocurrency platforms offering bonuses, Gemini provides you with a lucrative one.
Gemini Active Trader versus Gemini Basic
The charge for Gemini Basic users, engaged in crypto transactions, is slightly higher. However, Gemini Active Trader users have to pay 0.35%. However, Active Trader has a complicated interface. Thus, novice investors may not find it easy to use it. They can find several options and numerical figures on the dashboard. Find the differences between these two options.
Order Panel– You can choose this section for setting your orders. There are Buy and Sell options, and you can select one based on your needs. You may also check your current balance.
Order Types– Active Trader users can choose any type of order-
It is another feature showing some little bars. You will learn about the trading volume in every period.
At Gemini, you can trade in 26 cryptocurrencies, and some of them are:
Gemini is available to more than 50 countries, and thus, you may also have a chance to use this platform. Some of these include Argentina, India, Myanmar, Belgium, Bulgaria, New Zealand, Egypt and Australia.
Gemini is a riskless platform to sell, purchase, and store your cryptocurrencies. Its team has taken a range of measures to ensure security.
But, insurance has not covered losses from unauthorized access to your accounts. That is why you must take essential steps to protect your account details.
It is essential to note that when your account has a proper balance of US dollars, FDIC insures an amount of up to $250,000.
As you have already created your Gemini account, you can deposit and withdraw assets. You can easily load money to your account from the Transfer Funds option.
The US users can choose ACH for the fund transfer. The best fact is that ACH helps you with instant deposits. You can start trading after depositing funds into your account. The deposited amount takes 4 to 5 days to get settled. Then, you may withdraw it from the account.
The better and easier option is the wire transfer, as it is irreversible. When you have deposited the amount before 3.00 PM, you can make funds ready for your trade on the subsequent business day.
You may also choose an external Ethereum and Bitcoin wallet for the deposit. Select the option Deposit ERH (or BTC), and Gemini will create a deposit address.
For funding your Gemini account, you must use your bank account and not your credit and debit card. The funding limit for your Gemini account is $500 USD in a single day and $15,000 USD in a month. You can withdraw up to $100,000 USD per day.
The best fact is that as you have a Gemini account, you also own a wallet to store funds. It differs from other external wallets and is a safer place for your cryptocurrency storage needs.
The withdrawal process is advantageous, as it does not charge an additional amount for it. In most cases, it takes 2 to 3 hours for the withdrawal process. When your Gemini account has received the cryptocurrency, you may convert it to US dollars and transfer it to the bank account.
Gemini has created a fee structure, which includes transaction fees and convenience fees.
Another thing to note is that the fee for debit card deposits is 3.49%. On the contrary, it is already mentioned that withdrawal is free. However, the number of withdrawals should not exceed 10 in a month to avoid an additional charge.
As a Gemini user, you can take advantage of Gemini Dollar, one of the stablecoins built on Ethereum. It has a value of about US$1.00. You can use stablecoin for all types of transactions, including investing, lending, and spending. Moreover, Gemini ensures 1:1 transferability, and thus, you can convert it into US dollars anytime. Gemini and BlockFi have made a partnership to provide you with savings accounts where you can store Gemini dollars. The interest rates for these savings can be 7.4% APY.
Gemini has an iOS and Android-friendly mobile app with an intuitive, secure, and elegant interface to buy cryptocurrencies, like Bitcoin. You may also store and sell cryptocurrencies, like Dogecoin, Ether, Bitcoin Cash, BAT, and Litecoin. The well-designed app also sends price alerts to help you know the market condition.
Moreover, using the app, you can develop your crypto portfolio, set recurring buys, and implement the best trading strategies. The recurring buys can be scheduled at any frequency. Thus, download the app and start trading in cryptocurrencies without any security issues.
Another notable feature of the Gemini mobile app is Gemini Pay. You can use it to pay for services and goods using cryptocurrencies. You have to use QR technology for the payment. During the payment, you may decide on the cryptocurrency that you like to use.
Peer-to-peer- Gemini enables you to engage in direct trading activities between sellers and buyers using the Gemini Clearing portal. There is no rule about the minimum size of the order.
Crypto-to-crypto- At Gemini, you can deal with 20 crypto-to-crypto pairs, and most of them are related to Ethereum, Bitcoin, Zcash, Litecoin, Orchid, and Bitcoin Cash.
Charges both a convenience and commission fee
It can be concluded that Gemini has designed its platform for both novice investors and professional traders. The company has invested resources in the development of the platform to help different types of traders. Although the fee schedule is a bit complicated, you can understand it with some effort. Sign up with Gemini and find what it offers for your cryptocurrency trading.
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