Gemini Website Review
- Gemini is a cryptocurrency exchange that offers over 75 cryptocurrencies that users can buy, sell or even trade.
- The platform provides a high level of account security as well as measures for compliance.
- Users can gain access to a multitude of products as well as services, such as a cryptocurrency rewards credit card, as well as the opportunity to earn interest in cryptocurrencies.
- The Gemini exchange also has a built-in hot wallet, as well as the ability for users to pay specific retailers through the utilization of cryptocurrencies.
Gemini is a United States-based cryptocurrency exchange that features Federal Deposit Insurance Corporation (FDIC) protection, which is an independent agency specifically created by Congress as a means of maintaining stability as well as public confidence within the financial system. This exchange has never been hacked, and it is a straightforward platform that is extremely simple to use and puts security at a high level.
To truly see what all of this means and to see how all of it works, we will be taking an in-depth look at the overall website. Let’s dive in.
From the very moment that we enter the official Gemini website, we are introduced to a simple user interface that gives us the information we need at the moment when we need it. Specifically, it keeps things as straightforward as possible.
On the top navigation bar, we will be going over the menu from left to right, just so you have a clear perspective of all of the options that are on offer and that you can expect when you dive into the website for the very first time.
First, you will find the Gemini logo. Right next to it is one of the main pages that you will be visiting consistently, known as the product page. Here, you can get access to the following subpages:
- Gemini Exchange - this is the cryptocurrency exchange that will give you access to buying over 75 cryptocurrencies, and after that, you can even sell them or store them within the exchange's hot wallet or even your own.
- Gemini Earn - this is a service offered by Gemini and available in the US, SG, and HK, where users can essentially earn up to 8.05% interest on their cryptocurrencies.
- Gemini Credit Card™ - This is a credit card available only to residents in the United States and lets them earn up to 3% in crypto rewards on every purchase that they make.
Additionally, there is an advanced menu that features the following products:
- Gemini Clearing
- Gemini Dollar™
- Gemini Pay
- Gemini Custody
- Gemini Wallet
Right next to the products page, you will be able to view the Prices page, the Security Page, and the Institutions Page.
Near the end, there is another interesting menu that you will be able to view, known as the Resources menu. Here, through it, you will be able to visit multiple subpages, including:
- About - this page gives you additional information surrounding cryptocurrencies as well as the Gemini exchange.
- Careers - this is a page that is specifically developed to onboard new people into the Gemini team and help them build their products further.
- Support - This page specifically features answers to some of the most frequently asked questions (FAQs) and even teaches people how to connect to their customer support team.
- Blog - as the name might imply, this is a page specifically created to update people on product announcements, company updates as well as industry perspectives.
- Newsroom - this is a specific page created regarding news and stories about Gemini from a global perspective and scale.
- Videos - this gives users access to webinars, Twitter Q&As, as well as more on the fundamentals surrounding cryptocurrencies.
- Cryptomeria - this is a platform that was specifically designed to provide free as well as high-quality crypto education for everyone.
With that out of the way, on the right side of the navigation bar, you have the "Sign In" as well as the "Get Started" buttons.
Underneath the navigation menu, you have an enormous text that tells you to sign up and get $7 in ETH as a promotion. This is only valid for new US customers after they get onboard. On the right side, there is a GIF explaining how the mobile application works.
Underneath this section, you have a clear view of all of the social media outlets in which the Gemini exchange has been featured, such as the New York Times, Bloomberg, Wall Street Journal, Forbes, Fortune, Wired as well as many more.
Underneath this section specifically, you have also showcased an introduction to the Gemini Credit Card™. Here, the initial information showcases that you can earn up to 3% back on purchases you make while using it and even earn rewards in Bitcoin or over 50 other cryptocurrencies. Additionally, the website claims that there is no annual fee. However, this is subject to cardholder and rewards terms which are available at the application.
However, the button right underneath it says "Join the Waitlist," which means that Gemini has started inviting select waitlist members to apply for the Gemini Credit Card™. This means that users will need to sign up for early access and see if they pre-qualify with no impact on their credit scores.
Underneath that section specifically, you are showcased additional information about the Earn Interest on Gemini product, which lets you earn up to 8.05% APY.
Furthermore, as you scroll further down the page, you have showcased information regarding the premier NFT marketplace known as Nifty Gateway. Here, you can get access to a service that will let you buy, sell and store non-fungible tokens (NFTs) on the blockchain. It is important to note that Nifty Gateway is owned by Gemini.
When we move further down the page, we have showcased information about industry-leading security from day one. Specifically, Gemini showcases that it is a licensed New York trust company that undergoes regular bank exams and is subject to any cybersecurity audits which are conducted by the New York Department of Financial Services. Furthermore, Gemini is also SOC 1 Type 2 and SOC 2 Type 2 compliant.
Through Gemini, each user can secure their account with a hardware security key by utilizing WebAuthn. All crypto that is held in the exchange wallet is also insured.
Near the bottom of the page, Gemini is also showcasing its high-performance tools for active traders, and you are introduced to the exchange through a "Get Started" button near the bottom of the page.
There is also a bar at the bottom that you can fill to enter the newsletter, and on the footer page, you can also find official links to download the Gemini official application on the App Store, Google Play Store, and Galaxy Store.
History of Gemini
Gemini is a cryptocurrency exchange that was originally launched in 2015 as a cryptocurrency trading platform with the goal of appealing to newcomer cryptocurrency investors as well as the most active crypto traders, with many options available to them when it comes to buying as well as selling cryptocurrencies.
Tyler Winklevoss and Cameron Winklevoss are the founders of Gemini, and while they originally announced Gemini in July of 2013, the company went live on October 25, 2015.
One of the key functionalities and services offered by Gemini is their Gemini Earn program, which essentially lets users earn interest in their cryptocurrencies. Each user can earn up to 8.05% on various tokens, or 1.49% if they specifically choose to earn with Bitcoin (BTC).
Furthermore, Gemini also offers mobile trading through an official mobile application. This application is easy to use and comparable in terms of features to the desktop platform. While conducting more complicated trades might still be easier on the desktop, it does allow this functionality on mobile as well.
Another interesting functionality and feature surrounding Gemini is its Credit Card. Customers can join a wishlist to join the Gemini rewards card. Specifically, those that get access to the Gemini Credit Card™ are able to earn up to 3% back across their transactions without an annual fee.
Alongside all of this, there is also the Gemini Dollar™. The Gemini Dollar™ is a stablecoin that can be used in all kinds of transactions, such as spending, lending, or even investing. Specifically, this is a stablecoin that is backed by US dollars which are held at State Street Bank and Trust Company, where it offers 1:1 transferability back to U.S. dollars at any point in time. Furthermore, Gemini has also conducted a partnership with BlockFi as a means of offering savings accounts for the Gemini dollars.
Another key functionality surrounding Gemini is the Nifty Marketplace. Specifically, Nifty Marketplace is a non-fungible token (NFT) marketplace that was launched by Gemini as a means of letting users buy and sell digital art as well as collectibles on the blockchain.
A great aspect surrounding Gemini is that any USD which is stored within the Gemini account is insured by the FDIC.
Pros and Cons of Gemini
- Over 75 cryptocurrencies are available on the exchange.
- The Gemini exchange features a high level of security as well as insurance.
- There is a native mobile application that is available on both iOS as well as Android Devices.
- This is an exchange that is available in all U.S. states.
- The website design is simple, and anyone can navigate through it without much prior experience.
- The fees can be a bit higher when compared to competing cryptocurrency exchanges.
- The overall fee structure can be complicated to understand for beginners.
- There are specific popular cryptocurrencies that aren’t included yet on the platform.
The Bottom Line
Gemini is a highly secured as well as insured cryptocurrency exchange platform that lets users, both just starting out as well as experienced traders, engage in the process of buying, selling, and storing cryptocurrencies. The exchange features many built-in security features and additional functionalities such as the credit card, Gemini Earn, and a hot wallet that makes the entire experience a lot easier.
The website design is simple and to the point, and nobody should have a hard time finding the information they need at the moment that they need it.
Frequently Asked Questions (FAQs)
What Cryptocurrencies Are Currently Available on Gemini?
Gemini supports over 75 cryptocurrencies in total, some of the most popular being Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Solana (SOL), XRP (XRP), Terra (LUNA) as well as many others.
Are My Cryptocurrencies Safe While Using Gemini?
The Gemini exchange claims that the majority of user assets are stored offline in cold storage, and this essentially means that the crypto is stored on servers that are not connected to the internet and, in turn, are difficult to hack. Gemini also offers user-level security features, including two-factor authentication (2FA) as well as the ability to restrict withdrawals to specified pre-approved addresses.
Does Gemini Require Know-Your-Customer (KYC) Completion?
Gemini is a trusted company and a qualified custodian that is charted by the New York State Department of Financial Services. What this means is that in order for Gemini to keep its license, it is required to verify the identity of all of its customers, and this means that each user will be required to complete the Know-Your-Customer (KYC) procedure in order to use Gemini.
Is a Cryptocurrency Wallet Required to Use Gemini?
Gemini is a cryptocurrency exchange that does offer an online hot wallet that each user can make use of in the exchange directly. What this means is that you are not required to have a wallet prior to creating a Gemini account, as one will be created for you throughout the account creation process.