What is Gemini Crypto? Gemini Exchange Review in 2024
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It can be difficult to find a cryptocurrency exchange that is secure, has enough liquidity for trading, and has a diverse coin offering. If you also want the company to be situated in the United States, you may have already considered Coinbase. However, you might be surprised to learn that Coinbase isn’t the only game in town that satisfies all of those criteria. Gemini is a US-based corporation with FDIC protection for USD and has never been hacked (as far as we know). It’s a plain platform that’s simple to use and prioritizes security. We’ll go through Gemini crypto in depth in this review.
[/fusion_text][fusion_separator style_type=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” flex_grow=”0″ top_margin=”10px” alignment=”center” /][fusion_imageframe image_id=”8334|full” custom_aspect_ratio=”100″ lightbox=”no” alt=”Gemini Crypto” linktarget=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” align_medium=”none” align_small=”none” align=”center” hover_type=”none” bordersize=”2″ caption_style=”off” caption_align_medium=”none” caption_align_small=”none” caption_align=”none” caption_title_tag=”2″ animation_direction=”left” animation_speed=”0.3″ filter_hue=”0″ filter_saturation=”100″ filter_brightness=”100″ filter_contrast=”100″ filter_invert=”0″ filter_sepia=”0″ filter_opacity=”100″ filter_blur=”0″ filter_hue_hover=”0″ filter_saturation_hover=”100″ filter_brightness_hover=”100″ filter_contrast_hover=”100″ filter_invert_hover=”0″ filter_sepia_hover=”0″ filter_opacity_hover=”100″ filter_blur_hover=”0″]https://www.tastyreferrals.com/wp-content/uploads/2021/07/what-is-gemini.png[/fusion_imageframe][/fusion_builder_column][fusion_builder_column type=”1_1″ layout=”2_3″ align_self=”auto” content_layout=”column” align_content=”flex-start” content_wrap=”wrap” center_content=”no” target=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” order_medium=”0″ order_small=”0″ hover_type=”none” border_style=”solid” box_shadow=”no” box_shadow_blur=”0″ box_shadow_spread=”0″ background_type=”single” gradient_start_position=”0″ gradient_end_position=”100″ gradient_type=”linear” radial_direction=”center center” linear_angle=”180″ background_position=”left top” background_repeat=”no-repeat” background_blend_mode=”none” animation_direction=”left” animation_speed=”0.3″ filter_type=”regular” filter_hue=”0″ filter_saturation=”100″ filter_brightness=”100″ filter_contrast=”100″ filter_invert=”0″ filter_sepia=”0″ filter_opacity=”100″ filter_blur=”0″ filter_hue_hover=”0″ filter_saturation_hover=”100″ filter_brightness_hover=”100″ filter_contrast_hover=”100″ filter_invert_hover=”0″ filter_sepia_hover=”0″ filter_opacity_hover=”100″ filter_blur_hover=”0″ last=”true” border_position=”all” first=”true” min_height=”” link=””][fusion_separator style_type=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” flex_grow=”0″ top_margin=”10px” alignment=”center” /][fusion_text hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]Gemini was founded in 2014 in New York City by twins Tyler and Cameron Winklevoss, who notably sued former Harvard classmate Mark Zuckerberg over the invention of Facebook, as depicted in the film “The Social Network. According to CoinMarketCap, a statistics and analytics organization, Gemini’s exchange was launched for U.S. users in November 2015 and is now one of the top 15 cryptocurrency exchanges by trading volume. Unlike some other exchanges like Binance, Gemini is available in all 50 states of the United States (and more than 50 countries). Gemini provides a basic interface for inexperienced crypto investors, while more experienced traders may appreciate its ActiveTrader platforms. Although there are exchanges that charge lower costs for crypto trades, Gemini’s security features and insurance against internet breaches may help newcomers to the cryptocurrency realm relax.[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]
Gemini Overview
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Availability of over 40 cryptocurrencies
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Spread and fee per transaction are included in the trading fees.
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The minimum trade amount is the same as the minimum amount of crypto that can be traded.
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No account Minimum
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Gemini has an Earn Program that allows you to earn interest on your crypto holdings.
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Available in all states in the U.S.
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Insurance plan
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Offers multiple products like Gemini ActiveTrader for frequent buyers and sellers, Gemini Pay to use your cryptocurrency at stores, and more
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Pros and Cons
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Who Is Gemini Best For?
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We’ve studied a lot of inputs before making this Gemini review. From what we have gathered, Gemini is a good exchange for both beginners and seasoned crypto enthusiasts. Still, it’s more targeted toward individuals with at least a basic understanding of cryptocurrencies — and it includes many options for those who want to do more than just purchase and hold Bitcoin.
It gets bonus marks for having top-notch security features and the ability to earn money on your investments with Gemini Earn. Gemini is an excellent place to start if you want to dip your toe into the world of cryptocurrency investing, with over 40 cryptocurrencies to select from. It provides new investors with a simple mobile and internet experience and instructional features to help them learn more.
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However, Gemini also provides many options and tools for more expert traders and cryptocurrency users, which may be intimidating for complete newbies. Trading and selling cryptos account for a large portion of the exchange’s additional costs, which long-term HODLers don’t have to worry about.
These costs can add up quickly if you plan on purchasing or trading bitcoin for a long period, but they may be worth it for all of Gemini’s tools and extra security measures. Apart from this, this Gemini review also gives you an outline of what you can possibly get from the platform. Continue scrolling for the features below.
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What Does Gemini Have to Offer?
[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]Gemini has approximately 20 cryptocurrencies, including its own Gemini dollars currency (GUSD). Gemini allows you to exchange and store cryptocurrencies. Additionally, Gemini powers the Samsung Blockchain thanks to collaboration with Samsung. Customers in the United States and Canada can trade currencies by connecting their Samsung Blockchain Wallet to the Gemini app.[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]
Gemini Wallet and Gemini Earn
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You must fund your account with money from a bank account. It is not possible to fund it with a debit or credit card. The maximum daily funding limit is $500, and the monthly funding limit is $15,000. The maximum daily withdrawal is $100,000. If you have cryptocurrencies in an off-site wallet and want to use them to finance your Gemini account (crypto-to-crypto), you can do so as long as the currencies are in BTC, ETH, BCH, LTC, or ZEC.
Gemini Earn is a new feature that allows you to earn interest in your cryptocurrency. You can make up to 7.4% on various tokens right now, or 3.05% if you use your Bitcoin.
[/fusion_text][fusion_imageframe image_id=”8336|full” hover_type=”none” bordersize=”2″ align_medium=”none” align_small=”none” align=”center” lightbox=”no” alt=”Gemini Earn” linktarget=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” caption_style=”off” caption_align_medium=”none” caption_align_small=”none” caption_align=”none” caption_title_tag=”2″ animation_direction=”left” animation_speed=”0.3″ filter_hue=”0″ filter_saturation=”100″ filter_brightness=”100″ filter_contrast=”100″ filter_invert=”0″ filter_sepia=”0″ filter_opacity=”100″ filter_blur=”0″ filter_hue_hover=”0″ filter_saturation_hover=”100″ filter_brightness_hover=”100″ filter_contrast_hover=”100″ filter_invert_hover=”0″ filter_sepia_hover=”0″ filter_opacity_hover=”100″ filter_blur_hover=”0″]https://www.tastyreferrals.com/wp-content/uploads/2021/07/gemini-earn.png[/fusion_imageframe][fusion_separator style_type=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” flex_grow=”0″ top_margin=”10px” alignment=”center” /][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]
Mobile Trading
[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]Gemini, like many other crypto exchanges, provides a mobile app through which you may trade. It’s straightforward to use and equivalent to the desktop platform. If you wish to make complicated trades, you should probably use the desktop platform. On the smartphone app, complex trades can become tiresome.[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]
Gemini Dollar
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The Gemini dollar is a stablecoin that may be used for various purposes, including spending, lending, and investing. It’s backed by U.S. dollars kept at State Street Bank and Trust Company, and it can be exchanged for U.S. dollars 1:1 at any moment. In addition, Gemini has collaborated with BlockFi to offer Gemini dollar savings accounts with interest rates as high as 7.4% APY.
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Flexa
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Do you prefer to spend your cryptocurrency straight from your wallet? You can with Gemini. You may use bitcoins to buy things at participating stores thanks to cooperation with Flexa. Nordstrom, GameStop, Whole Foods, and Home Depot are among the retailers. You can use Gemini dollars (GUSD), Bitcoin, Bitcoin Cash, and Ether to make purchases.
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Features of Gemini
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Cryptocurrencies offered:
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For U.S. dollar trades, Gemini now supports 33 cryptocurrencies, including major cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. (Want to find out more? Know what cryptocurrencies are and how they function. The type of cryptocurrency determines the trading minimums: Trades in Bitcoin start at 0.00001 bitcoin, while Ethereum trades start at 0.001 Ethereum.
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Crypto trading costs and transaction fees:
[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]Gemini imposes a fixed cost of 0.5% above the current trading price for mobile and web app customers (dubbed the “convenience fee” by Gemini). Furthermore, it charges a transaction cost dependent on the amount transacted, similar to Coinbase: a tiered flat price up to $200; transactions over $200 are charged 1.49%.[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]
Crypto-to-crypto and Peer-to-peer trading:
[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]Gemini allows a little more than 20 crypto-to-crypto trading pairs, the majority of which are linked to Bitcoin, Ethereum, and the following cryptocurrencies: Zcash (ZEC), Litecoin (LTC), Bitcoin Cash (BCH), Orchid (OXT), Basic Attention Token (BAT), Chainlink (LINK), and Dai (DAI).
Gemini’s Clearing portal allows buyers and sellers to trade directly; costs are based on the spread. There is no minimum order size (Binance’s equivalent OTC service has a $10,000 order minimum).[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]
Platform and App for mobile devices:
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Gemini Basic is a plain, easy interface for desktop users to purchase cryptocurrencies depending on the total amount of cryptocurrency or the total amount of U.S. dollars they want to spend. Advanced charting, tracking numerous order types, and block trading are all available on Gemini’s ActiveTrader platform.
The free Gemini app for iOS and Android is well-received by users and mimics many of the same functions and features as the desktop site.
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Crypto wallet:
[/fusion_text][fusion_imageframe image_id=”8337|full” hover_type=”none” bordersize=”2″ align_medium=”none” align_small=”none” align=”center” lightbox=”no” alt=”Gemini Wallet” linktarget=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” caption_style=”off” caption_align_medium=”none” caption_align_small=”none” caption_align=”none” caption_title_tag=”2″ animation_direction=”left” animation_speed=”0.3″ filter_hue=”0″ filter_saturation=”100″ filter_brightness=”100″ filter_contrast=”100″ filter_invert=”0″ filter_sepia=”0″ filter_opacity=”100″ filter_blur=”0″ filter_hue_hover=”0″ filter_saturation_hover=”100″ filter_brightness_hover=”100″ filter_contrast_hover=”100″ filter_invert_hover=”0″ filter_sepia_hover=”0″ filter_opacity_hover=”100″ filter_blur_hover=”0″]https://www.tastyreferrals.com/wp-content/uploads/2021/07/gemini-wallet.png[/fusion_imageframe][fusion_separator style_type=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” flex_grow=”0″ top_margin=”10px” alignment=”center” border_size=”2″ /][/fusion_builder_column][fusion_builder_column type=”1_1″ layout=”2_3″ align_self=”auto” content_layout=”column” align_content=”flex-start” content_wrap=”wrap” center_content=”no” target=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” order_medium=”0″ order_small=”0″ hover_type=”none” border_style=”solid” box_shadow=”no” box_shadow_blur=”0″ box_shadow_spread=”0″ background_type=”single” gradient_start_position=”0″ gradient_end_position=”100″ gradient_type=”linear” radial_direction=”center center” linear_angle=”180″ background_position=”left top” background_repeat=”no-repeat” background_blend_mode=”none” animation_direction=”left” animation_speed=”0.3″ filter_type=”regular” filter_hue=”0″ filter_saturation=”100″ filter_brightness=”100″ filter_contrast=”100″ filter_invert=”0″ filter_sepia=”0″ filter_opacity=”100″ filter_blur=”0″ filter_hue_hover=”0″ filter_saturation_hover=”100″ filter_brightness_hover=”100″ filter_contrast_hover=”100″ filter_invert_hover=”0″ filter_sepia_hover=”0″ filter_opacity_hover=”100″ filter_blur_hover=”0″ last=”true” border_position=”all” first=”true” min_height=”” link=””][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]For those who don’t already have a bitcoin wallet, the exchange offers Gemini Wallet. Losses resulting from a security breach or hack, a fraudulent transfer, or employee theft are covered by digital asset insurance.[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]
Security and insurance:
[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]Gemini takes pride in its security precautions and claims to have never experienced a successful hacking attempt on its website. The site’s digital assets are protected against security breaches and hackers, and the majority of them are stored in “cold storage,” away from online dangers that could compromise security. However, Gemini insurance does not cover assets lost due to unlawful access to your accounts, such as stealing your secret codes and logins.[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]
Availability in every state in the United States:
[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]Unlike some cryptocurrency exchanges, Gemini may be used in all 50 states and over 50 countries across Asia, Europe, Africa, South America, and Oceania.[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]
Gemini Fees
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When you purchase or sell cryptocurrency on Gemini, you’ll be charged a convenience fee as well as a transaction fee. These fees apply whether you purchase using Gemini’s website or the mobile app. Before you complete your purchase, both will be presented as your “quoted price.”
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Fee for Convenience
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The convenience fee for a specific deal is roughly 0.5% of the Gemini market price, though it varies according to the market. This fee is included in the price of the cryptocurrency you purchase. For example, if Bitcoin (BTC) is now trading at $30,000 per unit, the total cost of 1 BTC would be $30,150, including the charge.
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Transaction Fee
[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]You’ll be charged a transaction fee based on the amount you exchange in addition to the convenience cost. This charge is a normal 1.49% for crypto conversions, such as trading Bitcoin for Litecoin. The fee for buying and selling crypto varies depending on the type of currency you use and can range from a flat fee for less expensive orders to a percentage for more expensive purchases.[/fusion_text][fusion_code]W3RhYmxlIGlkPTE0NyByZXNwb25zaXZlPXNjcm9sbC9d[/fusion_code][fusion_separator style_type=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” flex_grow=”0″ top_margin=”10px” alignment=”center” /][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]
Let’s imagine you wanted to purchase $100 worth of Bitcoin at a price of $30,000 per BTC. The convenience charge raises the price of 1 Bitcoin to $30,150 on Gemini. So, if you order $100, Gemini will deduct the $2.99 transaction charge before calculating your portion of 1 BTC based on a $30,150 pricing. You’d end up with a total of 0.00321758 BTC instead of 0.00333333 BTC.
That may not seem like much in terms of fractional Bitcoin numbers, but if you acquire more crypto over time, it can pile up and lessen the amount you invest now. Despite the cost, the security measures that Gemini provides can make it valuable, particularly for novices. As your trading skills improve, you may choose to switch to Gemini’s ActiveTrader service. Different (and less expensive) fee structures are available on Gemini’s ActiveTrader and custodial trading platforms, albeit these interfaces can be far more difficult to utilize.
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Fees for Deposits
[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]To trade on Gemini, you can either transfer crypto from your wallet or another exchange or put U.S. dollars into your account. Unless you use a debit card, there are no fees for depositing money into your Gemini account.[/fusion_text][fusion_code]W3RhYmxlIGlkPTE0OCByZXNwb25zaXZlPXNjcm9sbC9d[/fusion_code][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]
Withdrawal Fees
[/fusion_text][fusion_text rule_style=”default” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]You won’t be charged if you withdraw crypto from your account or withdraw U.S. dollars from your account after selling your crypto if you make less than 10 withdrawals per month. Most cryptos charge a fee if you withdraw more than that. Coinbase, for example, charges a fee when you move your cryptocurrency to a non-Coinbase wallet. In contrast, withdrawals of U.S. dollars (through most methods, including bank account or PayPal) are free.[/fusion_text][fusion_text hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” animation_direction=”left” animation_speed=”0.3″]
Gemini Referral Program
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This Gemini review also covers Gemini’s referral program. Join the Gemini Referral Program to refer a friend to Gemini and earn money at the same time. You can earn $10 in Bitcoin by referring people to the digital currency exchange. Not only that, but your referred user will receive a welcome bonus of $10 in Bitcoin. To get started as an affiliate marketer, you’ll need the Gemini app on your Android or iOS device.
You are free to share your referral link with anybody. Just keep in mind that they must be a first-time Gemini user to qualify for the referral bonus.
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Within the first 30 days of signup, your friend must trade $100 and completely verify their account to qualify. When they do, your Gemini account will be credited with $10 worth of BTC for you and your friend. Gemini will send you an email once your friend has registered. They’ll send you another email once they’ve finished the referral requirements to keep you informed.
Within 24 hours of completing a qualified referral action, your money should be in your wallet. If your referral meets all of the above conditions and you haven’t received your credited $10 worth of BTC within 24 hours, you can contact Gemini’s excellent customer service staff. Both accounts will be awarded $10 worth of bitcoin.
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Read everything that you need to know about the referral program in our Gemini referral article.
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How does Gemini compare?
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Comparing Gemini to SoFi and Binance.US
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We also have something to say about Gemini and its competitors in this Gemini review. Both Gemini and SoFi provide $0 minimum account options; however, fees, account features, and cryptocurrency availability differ between the two investment sites. On transactions, SoFi adds a 1.25% markup (which is added to each crypto purchase), whereas Gemini’s web and mobile transaction fees range from $0.99 to $2.99. (and larger transactions carry higher fees). The whole fee schedule can be found here. Although the minimum deposit in Binance.US is slightly greater than Gemini and SoFi, this exchange provides access to more than 50 cryptocurrencies. You’ll only have to pay 0.1%or 0.5% for transactions if you deposit by wire or ACH transfer. Read more about Binance in this Binance Review.
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Take Home on Gemini
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Now, let’s sum up this Gemini review. Gemini is regarded as one of the safest cryptocurrency exchanges around. Its key selling point is security. It is a corporation established in the United States, and the platform is simple to use. If you usually trade popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, or Zcash, you’ll probably like Gemini. For all of these reasons, Gemini is a cryptocurrency platform worth investigating.
However, before you go into cryptocurrency trading, keep in mind that digital currencies are typically volatile assets that should only account for a small fraction of your overall investment portfolio. Interested in other competing platforms? We’ve got you covered. Read about Webull Referral and Coinmetro Referral to earn more referral bonuses
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