Gemini is a US-based centralized cryptocurrency exchange (CEX) and custodian service. It offers spot trading, staking, and custody services. Additionally, customers can use the platform's digital wallet or access the NFT marketplace Nifty Gateway. Some trading options may be limited on the Gemini crypto exchange mobile app.
The Gemini cryptocurrency exchange can be accessed in all 50 states. Additionally, the platform is available in more than 60 countries. Access to some assets and services may be partly restricted due to regional regulations. Customers must comply with the KYC regulations.
Markets
The Gemini spot market is the platform's primary service. It does not offer a futures market or margin trading. There are over 100 assets listed on the platform, with more than 660 Gemini trading pairs. This number includes crypto-crypto and fiat-crypto pairs. Supported fiat currencies on Gemini include:
- USD – fully available on Gemini ActiveTrader and Gemini APIs;
- AUD – excluding Gemini ActiveTrader and Gemini APIs;
- CAD – excluding ActiveTrader and APIs;
- EUR – only BTC and ETH pairs are available on ActiveTrader and APIs;
- GBP – only BTC and ETH are available on ActiveTrader and APIs;
- HKD – excluding ActiveTrader and APIs;
- SGD – only BTC and ETH pairs are available on ActiveTrader and APIs.
Like many platforms, the Gemini crypto exchange hosts its native token, the Gemini dollar (GUSD). It's a stablecoin that has its value pegged to the US dollar. The asset is regulated and backed by assets held at FDIC-insured banks. There are no Gemini exchange fees when buying or selling GUSD with its fiat equivalent.
On crypto-fiat transactions, the Gemini crypto price determines the transaction fee. All fees are currency-dependent. Cryptocurrency and wire transfer deposits are free of charge. When using debit transfer, a 3.49% charge applies.
ETH and ERC-20 token withdrawal fees, excluding the GUSD token, are dynamic. Individual costs are calculated on non-ETH currencies. Gemini crypto fees may differ for individual and institutional customers.
Gemini ActiveTrader is a high-performance trading system for professional traders. It supports block trading and advanced charting. The Gemini exchange fees on ActiveTrader are determined based on the trailing 30-day trade volume. Customers' Gemini volume uses USD as the default currency on all order books.
All trades on the Gemini cryptocurrency exchange use the maker-taker fee model, with makers and takers subjected to different rates. There are ten fee tiers in total.
If the 30-day Gemini trade volume does not exceed $10,000, it's considered tier one, and the maker/taker fees are 0.20% and 0.40%, respectively. If the trade volume exceeds $50 million, makers are not subjected to Gemini exchange fees. At tier 10, the Gemini volume exceeds %500 million, and the taker fee is 0.03%.
Gemini trading pairs using stablecoins as the base currency and USD as the quote currency have fixed fee rates of 0.01% for takers and 0.00% for makers. Eligible stablecoins include GUSD, USDC, DAI, UST, and FRAX.
Other Services
Gemini Custody is an asset storage and management tool. It's connected to the Gemini crypto exchange, allowing for accessible trading. It's regulated by the New York Banking Law. The Gemini crypto price plans are customized according to the customers' needs. There is no minimum balance or setup fee. The custody fee is 0.4%.
Gemini Earn is an interest-earning program for the platform's customers. Investors that buy assets on the Gemini cryptocurrency exchange can transfer them to the Gemini Earn platform, which automatically generates interest. The interest rate is determined by the holdings in the account. There are no Gemini crypto fees on transfer or redemption.
Gemini Staking is a service that allows customers to earn passive income. Assets that can be used for staking are limited; however, any amount of the available assets can be used for this service. There is no minimum required staked Gemini crypto price. Customers are not charged any transfer or redemption fees for staking.
Gemini Clearing is a settlement system for pre-arranged trades. It allows investors to trade outside the Gemini spot market. Additionally, the tool can be used as a white glove service.
US-based customers are eligible to apply for the Gemini Credit Card. It provides instant crypto conversion for payments. No annual Gemini crypto fees or foreign transaction fees apply. Cardholders are eligible for rewards in one of the cryptocurrencies listed on the Gemini crypto exchange.
Gemini Wallet is a digital cryptocurrency storage system. It can also be used to hold non-fungible tokens (NFTs) purchased on Nifty Gateway.
Developers have access to Gemini API. It's used for order management, account data retrieval, as well as creating and viewing orders.
About the Company
The project was initially announced in 2013. Gemini was founded in 2014 by brothers Cameron and Tyler Winklevoss and went fully live in October 2015. In 2016, it became the first licensed US-based Ethereum (ETH) exchange. The company headquarters are in New York City, NY.
The platform holds a Limited Purpose Trust Charter, granted by the New York Department of Financial Services. It is one of the few cryptocurrency services permitted to operate in New York State.
In 2018, Gemini received approval from the New York Department of Financial Services to launch its stablecoin, Gemini USD. It has been listed on major cryptocurrency exchanges, including the Gemini spot market itself.
In 2019, Gemini acquired the NFT marketplace Nifty Gateway. According to market data, between May 2020 and September 2021, the platform saw sales amounting to more than $400 million. In November 2021, Gemini was valued at over $7 billion.
The global expansion of the Gemini cryptocurrency exchange is ongoing. In July 2022, the company was granted a license to provide virtual asset services in the Republic of Ireland. Gemini was affected by the crypto crash in June 2022, leading to a 27% drop in revenue compared to the same period in 2021.
Tyler Winklevoss is the CEO at Gemini, while Cameron is the company's President. They are both former Olympic rowers and founders of the social network platform ConnectU. The Winklevoss twins famously sued Facebook CEO Mark Zuckerberg in 2004, stating that he stole their concept for his social network.
