Description of Gemini
What Is Gemini?
Gemini is a New York-based cryptocurrency centralized exchange (CEX) regulated by the New York State Department of Financial Services, available in all 50 U.S. states and over 60 countries. The platform was built with a focus on security and compliance, although it offers fewer crypto assets than its competitors, notably over 120 cryptocurrencies and over 21 crypto-to-crypto trading pairs.
The platform is aimed at both beginners and advanced traders. In addition to an intuitive user interface, the project has a library of educational content for crypto newcomers. Customer accounts are well protected, the crypto exchange was one of the first to receive ‘SOC 1 Type 2’ and ‘SOC 2 Type 2’ certification. The exchange also offers insurance coverage against certain types of losses.
The core products are Gemini ActiveTrader (for skilled traders and investors), Gemini Earn, Gemini Exchange, Gemini Wallet, Gemini Mobile, Gemini Clearing, Gemini Dollar (GUSD) and Gemini Custody.
Who Are the Gemini Founders?
The company was co-founded by brothers Tyler and Cameron Winklevoss. They are identical twins, former Olympic rowers, investors and founders of Winklevoss Capital Management.
The brothers are co-founders of the social networking service — HarvardConnection (or ConnectU) and co-founders of the social media website — Guest of a Guest. They were also classmates of Mark Zuckerberg at Harvard. In 2004, they sued Zuckerberg and accused him of stealing their idea (implying the ConnectU project) to create the popular social network — Facebook. As a result, the twins won a $65 million settlement from the lawsuit.
When Did Gemini Launch?
Gemini Trust Company, LLC announced the launch of the Gemini exchange in early 2014, although it went live in October 2015.
Gemini Restricted Countries
The exchange is available in over 60 countries, including the United States, the United Kingdom, Canada, Australia, Hong Kong, Singapore, South Korea. The entire list of available countries can be found on their website.
What Coins Are Supported on Gemini?
With Gemini, traders and investors can buy, sell and store over 100 cryptocurrencies, including BTC, ETH, GUSD, ADA, AAVE, DAI, LINK, LTC, USDC and more.
How Much Are Gemini Fees?
The ecosystem charges several types of fees depending on the product you use, including: API fee, mobile fee, app fee, custody fee, Active Trader fee, transfer fee and more.
Trading fees under Active Trader are charged under a maker-taker model, depending on the user’s 30-day trading volume. Maker fee ranges from 0.40% ($0 trading volume) to 0.03% (over $500M trading volume), and taker fee ranges from 0.20% ($0 trading volume) to 0.00% (over $500M trading volume).
Stablecoin pairs are charged 0.00%/0.01% in maker/taker fees.
Is It Possible To Use Leverage or Margin Trading on Gemini?
Leverage or margin trading is not available.