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Review: Gemini cryptocurrency exchange

Gemini prides itself on being “the regulated cryptocurrency exchange”. What does that mean for you?

  • Great for its tightly-regulated trading
  • Higher fees than other exchanges

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Fiat currencies



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Product Name Gemini Cryptocurrency Exchange
Fiat Currencies USD, AUD, CAD, EUR, GBP, SGD, HKD, COP
Cryptocurrencies BTC, ETH, BCH, LTC, ZEC, ZRX, MKR, BAT, AAVE, XRP & 93+ more
Deposit Methods Bank transfer (ACH)
Debit card
Wire transfer
Trading Fee Order amount below AUD 250: AUD 1.50 - AUD 4.50
Order amount over AUD 250: 1.49%
Convenience fee: 0.50%
Deposit Fees Cryptocurrency: None
Wire transfer: None
Bank transfer (ACH): None, bank fees may apply
Debit card transfer: 3.49%
Withdrawal Fees Cryptocurrency: None for first 10 withdrawals of each month
Other: None for first 10 withdrawals of each month
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is Gemini

Gemini is a cryptocurrency exchange with a simple UI that's user friendly and accommodating to newcomers and experienced traders alike. Gemini is a New York trust company, which ensures that the company is compliant with a number of security and financial regulations. It is one of the very few cryptocurrency exchanges in the world to own a New York BitLicense. Gemini allows users to earn interest on eligible cryptocurrency balances.

Some more notable currencies aren't available on the platform, namely some of the non-ERC20 tokens from the top 20 range of currencies.

Gemini's most notable weakness is its fee structure. Fees are competitive if you turn on ActiveTrader. However, if you don't, the fees can add up quickly. Buying through the mobile app has very high fees compared to using ActiveTrader, and the fees are the same on the desktop site without ActiveTrader on.

  • If this is your first exchange: Gemini is a pretty good place to start given its intuitive design and tight regulations. Gemini's fee structure can punish small trades and may not be worth it if you make a large number of small trades.
  • If you're switching exchanges: Gemini offers some pretty bold guarantees and assets held in their hot wallet are fully insured. Gemini also offers a number of compelling features, including Gemini Earn, however, this service isn't available for Australian customers.

Pros and cons of Gemini


  • Wide range of currencies to exchange
  • Incentives for newcomers, welcoming UI
  • Insurance on currency balances up to $250,000


  • Varying fee structure with highest fees on mobile app
  • Missing some notable top 20 currencies
  • Limited advanced features for Australian residents

Verdict: Is Gemini any good?

Gemini has a unique fee structure that may be appealing to certain users – this gives the exchange a competitive edge. Gemini offers referral incentives for newcomers to the platform and its easy-to-use interface lends itself to inexperienced and experienced traders alike. Gemini allows users from certain countries (United States, Hong Kong and Singapore) to earn interest on their balances. Interest rates can be as high as 7.4% depending on the tokens in a user's balance. However, this service isn't currently available for Australian users, so those looking to reap a passive income on their investments may wish to try an alternative exchange. Gemini has a wide selection of cryptocurrencies available for exchanging on the platform. However, some notable entries from the top 20 by market cap are missing, such as Cardano and Cosmos. All in all, Gemini is a good, welcoming exchange for users of all skill levels.

What to know about Gemini

User balances are covered by a robust insurance plan and cold storage of wallets. However, it is worth noting that Gemini is still holding the private keys to these wallets. Additionally, Gemini's insurance does not cover losses due to theft from unauthorised access of an individual's account – so if, for example, somebody guesses your password, you wouldn't be protected by insurance.

Gemini is a good exchange to use as long as you activate ActiveTrader and execute trades on the desktop site. Otherwise, you are subject to very high fees that are outlined in Fees and costs.

Finder ratings for Gemini Crypto

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Supported cryptocurrencies

Gemini supports over 70 cryptocurrencies, but some notable assets are missing. Namely, Cardano, Polkadot and Cosmos, but there are others from the top 20 by market cap missing from what's available on Gemini. Selection is wide, but could be better. Below are some of the supported coins and tokens on Gemini – be sure to visit the exchange for a full list:

Transferring fiat and cryptocurrency with Gemini

New users can connect their bank accounts instantly to Gemini using the Plaid system, however there are no Australian banks supported for this method. Manual bank transfer deposits are made available for trading immediately. However, the account must first be verified using a deposit, which can take up to 5 business days. Debit cards can also be added to process crypto instantly, although these incur a higher fee than other transfer methods. Crypto deposits and withdrawals are processed immediately and their wait times depend on network congestion.

Gemini Fees and costs

Deposit fees for fiat are free unless using a debit card, which incurs a 3.49% fee. Withdrawals are free via bank transfer. Crypto fees are free for deposits. Crypto withdrawals are free as well, as long as you are within your free withdrawal quota.

Trading fees are complicated on Gemini. They have multiple fee structures. There are different fees for using the mobile app and the desktop site, in addition to there being an ActiveTrader setting that can be turned on.

Without ActiveTrader turned on, users are subject to a set fee structure that is quite high (see the image below). With ActiveTrader turned on, fees drop from set amounts to 0–0.25% for maker and 0–0.35% for taker. The only way to use ActiveTrader on mobile is to use your web browser with the setting turned on and access the exchange that way. Using the mobile app incurs the fee structure below.

Note: Gemini fees for using the desktop site without turning on ActiveTrader are the same as for mobile.

Gemini image 1

Fiat withdrawal and deposit fees
Free for bank transfers.
3.49% of total purchase amount for debit card transfers.
Crypto withdrawal and deposit fees
Free for all cryptocurrenciesFree if you make less than or equal to 10 withdrawals a month as an individual customer, or less than or equal to 50 withdrawals a month as an institutional customer.

Going above those limits will begin to incur fees. Each currency has its own respective fee associated with it.

What is it like to use Gemini?

Before you can even get started trading on Gemini, you have to go through the rigorous verification process. This can take quite a long time, although the process is automated. The reason for this is Gemini's commitment to certifications, and compliance with regulations and insurers. The upside is when it's time to do your taxes, you won't have to worry about the status of your crypto. Gemini's compliance makes it quite easy to manage your obligations.

Gemini has 2 interfaces: the basic interface which is very newbie-friendly, and the ActiveTrader interface for the advanced trader. Gemini prides itself on being easy to use and it achieves just that.

Gemini app
Gemini's mobile app is robust and easy to navigate. All of Gemini's features are made easy-to-use in a mobile setting.

Gemini image 2

Getting started with Gemini
Gemini offers a quick and simple way to navigate getting started. A more detailed guide of setting up an account can be found below. It is a simple process, but users have reported long wait times when registering financial data.

Gemini Image 3


Gemini's desktop markets are easy to navigate. Users are able to favourite coins and add them to a watchlist.

Portfolio hub

Gemini has a live-tracking portfolio where you can view your assets in real-time. You can also view any outgoing or upcoming transactions.

Does Gemini have good customer support?

Gemini has customer support, but user reports vary. Averages reported by the company look favourable, but customers report waiting for as long as weeks to receive emails back from the company and long hold times.

Support offeredWait times
Contact Us formUnder 2.5 hours on average
Live chatLive chat is offered, but it's a bot that directs users to other support lines.
EmailAt least 24 hours after receiving the email on average.

List Gemini services

Trading on Gemini

There are earning opportunities on Gemini, but they're limited to residents from certain countries. Australians can perform most basic buy/sell functions on Gemini, as well as place recurring orders as part of a dollar-cost averaging strategy.

Gemini Mastercard

Gemini is offering a credit card that is yet to be released, but is coming soon. Once implemented, it will allow users to spend their crypto anywhere Mastercard is accepted. This service will not initially be available for Australian residents, but this may change in the future.

Promotions on Gemini

Currently, new users can earn $10 in Bitcoin when someone they've referred buys or sells US$100 within 30 days of creating their account.

Trust rating

Gemini rates highly for security. Gemini has never been hacked. Security features of Gemini include 2-factor authentication, SOC 2 compliance (the first-ever cryptocurrency exchange to do so), and insurance for assets held in the platform's hot wallets.

Past hacks

No hacks have ever taken place.

Security audits

Gemini has undergone heavy-duty auditing. Gemini is the first ever cryptocurrency exchange to pass the SOC 2 type 1 examination. They will be audited for compliance with this examination every year.

Gemini are registered with Australian regulatory body AUSTRAC.


The company has full FDIC insurance, just like a bank does, for fiat currencies up to $250,000.

Signing up on Gemini

Compare Gemini against other exchanges

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Digital Surge Cryptocurrency Exchange
Bank transfer, Cryptocurrency, POLi, Osko, PayID


Finder Exclusive: Receive $10 BTC on sign-up and verification.
An Australia-based exchange with a focus on simplicity that allows users to purchase a range of cryptocurrencies with AUD.
CoinSpot Cryptocurrency Exchange
Bank transfer, BPAY, Cash, Cryptocurrency, POLi, PayID


CoinSpot lets you buy, sell and swap 100s of cryptos from its simple-to-use desktop or app trading accounts.
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID


Finder Exclusive: Receive $20 BTC on sign-up and verification.
Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Disclaimer: Star ratings are only displayed for products with 10 or more reviews.

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Gemini FAQ

Who owns Gemini?

Gemini is an independent company, co-founded by the Winklevoss twins, Cameron and Tyler of early Facebook fame.

Is Gemini a good exchange?

Gemini is a reliable crypto exchange that has undergone thorough audits.

Is Gemini FDIC insured?

Yes, Gemini is FDIC insured.

What is Gemini USD?

Gemini USD is a stablecoin managed by Gemini.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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