Gemini is a beginner-friendly cryptocurrency exchange offering comprehensive trading, earning, and staking features. Like many exchanges, individuals and institutional investors can both benefit from Gemini's user-friendly interface and strong security features.
However, it charges relatively high fees compared to competitor platforms, and staking is limited to ether and polygon for US traders.
Business Insider's personal finance team compared Gemini to the best cryptocurrency exchange. We found its trading fees relatively high and complex.
Gemini Overview
Gemini is a web and mobile cryptocurrency exchange offering 80+ digital cryptocurrencies, digital wallet storage, and access to various advanced charting tools. Gemini prides itself on its "security-first" mentality and fiduciary status.
Its user-friendly platforms allow new investors to trade assets, set recurring buys, and earn staking rewards on popular cryptocurrencies.
Gemini's ActiveTrader is great for experienced investors looking for features like faster order execution, 100+ crypto trading pairs, and dual market tracking.
Like many of the best cryptocurrency exchanges, Gemini now offers an NFT trading platform through Nifty Gateway, a digital marketplace for trading, storing, and displaying NFTs.
A downside of Gemini's trading platform is its relatively high trading fees and complex fee structure.
Compare Gemini
Pros and Cons of Gemini
Pros
- Large selection of virtual assets, including hundreds of crypto trading pairs and auctions
- Fast order execution
- Access to NFTs through Nifty Gateway
Cons
- Derivatives not available in the US
- Only three staking options
- High fees and complex fee schedule
Ways to Invest with Gemini
Here's what Gemini offers.
Gemini Exchange
Gemini's web and mobile exchange offer straightforward trading and portfolio-building features suitable for active traders. Users get access to basic trading and managing features like setting up recurring buys, access to in-depth crypto research, account snapshots, waitlists, and Gemini's extensive library of educational content.
The exchange offers many of the most popular cryptocurrencies, including bitcoin, ether, litecoin, CRP, solana, and cosmos. It also offers multiple stablecoins like Tether and its native coin, Gemini Dollar (GUSD). Gemini does not offer Cardano.
The free mobile app offers similar features, with the ability to transition between Basic and Advanced trading modes. You can access over 300 trading pairs, set price alerts, and various order type options.
You also have the option to connect a Gemini Mastercard and earn cash back rewards in the form of bitcoin, ether, and other cryptos when you spend on dining, groceries, and other everyday expenses.
Most of Gemini's assets are held in an offline, cold storage system, with only a portion of each investor's holding held in Gemini's Hot Wallet. Additionally, all Gemini accounts are required to implement two-factor authentications.
Gemini ActiveTrader
ActiveTrader is Gemini's advanced investment platform for sophisticated traders. It allows them to execute high-speed trades, use trading pair selectors, access the platform's deep order book, and use multiple API options. API options include FIX, WebSockets, and public and private REST APIs.
The Duel Market feature allows you to compare multiple markets' activity in real time, allowing you to execute trades and hedge positions strategically. You can also access crypto-to-crypto trading options.
Gemini ActiveTrader does offer crypto derivatives, but it's not available for U.S. traders.
Gemini Staking
Gemini offers staking for three crypto assets: polygon (4.12% APR) and ether (3.81% APR). Non-U.S. investors can also stake in Solana (2.43% APR).
Regular staking on Gemini requires no minimum account balance, rewards are split across staking participants to a single address, and positions can't be tracked on-chain.
Staking Pro is a more advanced staking service with greater on-chain transparency, but it's unavailable to US investors.
Gemini Institutional
Gemini Institutional is designed for private clients, institutional investors, fintechs, and businesses to access advanced charting features and multiple order types. Institutional accounts can set administrators, managers, auditors, trustees, and more.
Client portfolios can be easily tracked and managed by investment managers. You can ensure your digital assets are safe with regulated cold storage through Gemini Custody. This feature uses multi-signature technology, biometrics, and role-based governance protocols to protect cryptocurrencies and other investable digital assets.
Private clients and institutional investors can access Gemini eOTC, an electronic over-the-counter trading platform for real-time visibility, price tracking, order status, and trade execution details.
Gemini Fees
Gemini fees on its regular exchange and mobile platforms are higher than competitor exchanges. Web orders vary by web order amount and will cost at least $0.99 per trade, but the fee can go as high as 1.49% of the web order value. Beginners may find Gemini's exchange and mobile fee structures difficult to understand.
ActiveTrader has lower trading fees compared to Gemini's exchange and mobile platforms. The platform operates on a maker/taker fee structure based on your 30-day gross trading volume and is calculated daily. The higher your trading volume, the less you'll pay in fees.
Maker fees range from 0.00% to 0.20%. Taker fees range from 0.03% to 0.40%. Mobile traders are also charged an additional 0.5% convenience fees on all trades.
Staking services charge a 15% fee.
Gemini Customer Support
Users can contact Gemini via email at support@gemini.com, by submitting a form linked on its customer support page, or by using the chat bot on the customer support page.
Gemini Trustworthiness
The Better Business Bureau has given Gemini Trust Company LLC an F rating. The BBB's ratings range from A+ to F, and it says it has given Gemini the "F" status due to various unresolved customer complaints. The bureau considers factors like time in business, the type of business, licensing and government actions, advertising issues, and more.
On January 12, 2023, TheSEC charged Genesis Global Capital LLC and Gemini Trust Company LLC with offering and selling unregistered securities to users through its Gemini Earn lending program. According to the complaint, investors were unable to withdraw crypto from their accounts due to an alleged lack of liquidity. Genesis filed for bankruptcy in 2023 and agreed to pay a $21 million penalty to settle charges.
On February 28, 2024, Gemini settled with the New York Department of Financial Services and agreed to return $1.1 billion to Earn program customers in addition to paying a $37 million penalty for compliance failures.
Gemini Alternatives
Similar exchanges to Gemini include the following.
Gemini vs. Robinhood
Gemini and Robinhood Investing are both beginner-friendly crypto-trading platforms for active traders with cold wallet storage. The platforms offer drastically different fee structures, investment options, accounts, and features.
Robinhood is better for investors looking to trade a handful of cryptocurrencies alongside traditional securities like stocks and ETFs. Robinhood has a no-commission brokerage model with relatively low fees, 24/7 customer support, and limited advanced charting features. It's the stronger platform for beginners.
Intermediate and advanced crypto traders may prefer Gemini despite the exchange's high and complex fees. Compared to Robinhood, Gemini offers a wide selection of advanced charting features through its AdvancedTrader platform, NFT platform, and crypto trading pairs.
Gemini vs. Coinbase
Gemini and Coinbase are both popular crypto exchange platforms offering a wide range of cryptocurrencies for retail traders and institutions. The platforms are similar but vary slightly regarding cryptocurrency selection and fees.
Coinbase is a better option for investors looking for a broader range of flexibility in investment types (it currently offers 200+ cryptocurrencies) and for investors wanting access to a free non-custodial wallet.
Gemini trading fees are slightly lower than Coinbase. Long-term investors concerned about fees eating away at potential gains will prefer Gemini over Coinbase.
Why You Should Trust Us: How We Reviewed Gemini
We examined Gemini using Business Insider's rating methodolo0y for investing platformsto compare pricing, account flexibility, ethics, security, and overall customer experience when reviewing investing platforms. Platforms are given a rating between 1 and 5.
Business Insider's Overall Gemini Rating
| Feature | Insider rating (out of 5) |
| Fees | 3.00 |
| Investment selection | 4.00 |
| Security | 4.00 |
| Customer service | 3.00 |
| Ethics | 2.00 |
| Access | 4.00 |
| Overall score | 3.35 |
Gemini FAQs
Is Gemini a safe exchange?
Gemini is a relatively safe exchange with fiduciary status. It requires all users to implement two-factor authentication. The company prides itself on offering safe and secure crypto trading services. However, Gemini recently settled charges for its alleged offering and selling of unregistered securities through its Earn lending program.
What are the fees on Gemini?
Gemini's fees are tiered, meaning they decrease with higher trading volume. Gemini has relatively high maker and taker fees compared to some competitor platforms. Also, beginner crypto investors may find Gemini's fee structure confusing.
Does Gemini offer staking?
Gemini offers staking for polygon (MATIC) and ether (ETH). Staking rewards for these two assets are up to 3.58% APR. Gemini also offers staking for Solana (SOL) up to 5.98%, but it's unavailable for U.S.-based investors.