Gemini Review – Are They Safe or a Scam?
Our Gemini Review 2023
One of the biggest challenges with crypto exchanges is regulation. But what if you could have an exchange that allows you to buy and sell over 40 cryptocurrencies, and also enjoys the highest level of regulation? Welcome to Gemini Exchange.
Apart from being an exchange, Gemini also offers wallet and custodian services. The famous Winklevoss brothers, who are known for suing Mark Zuckerberg, established this company in 2015. Now this exchange is servicing all states in the US and is available in other countries. We’ll begin our Crypto Parrot Gemini Review by looking at the new customer offers.
Gemini is one of the most respected exchanges on the market today. So, it came as no surprise at all when we discovered that it also rewards new customers for signing up. To earn with Gemini crypto, you need to use a referral link to sign up for a new account. Though Gemini has a more robust sign-up process than your average exchange, the process is still straightforward. When you join and trade $100 in your first 30 days, you will receive $10 Bitcoin for free.
Our Gemini review found that its generosity doesn’t end there. You can also earn free bitcoin by inviting your friends to sign-up. You will be provided with a referral link, which your friends must use when creating a Gemini account for the first time. When they trade $100 or more in the first 30 days, you will both receive $10 bitcoin.
The range of products at Gemini are not only trusted but also easy to use. We will go through each one in this Gemini Review. The Gemini exchange is probably what most people recognize this company for. Most online Gemini reviews by real customers not only praise how safe it is, but they also highlight the convenience with which you can buy and sell crypto.
Our Gemini review also revealed a great range of other products too. The Gemini app gives you one of the most trusted crypto exchanges in the world in your pocket. The Gemini wallet is as safe as you will get if you only want to store your crypto. Professional crypto traders, however, will find more joy in the advanced functionality of Gemini ActiveTrader.
Our Gemini review also considered the accounts you get here. What we found was unmatched. You would be hard-pressed to find an exchange that’s so thorough in providing customers with a regulated crypto trading experience. First off, we looked at the Gemini account opening process. After going through this section, we guarantee that customers who had reservations and were asking ‘is Gemini safe’ will be answered.
This Gemini review showed that the exchange has developed a comprehensive program called BSA/AML. This is Gemini’s effort to meet the highest level of compliance. Before you can open a Gemini account, you need to go through this program. Gemini will ask for a long list of your details and check if you are on the government’s watch list. Your name will also be passed through the Office of Foreign Assets Control to ensure that you have committed no crimes in other jurisdictions.
Each Gemini account has 3 subaccounts. These are the associated account, your fiat currency account, and the digital assets account. The digital assets sub-account is where you will store all your cryptocurrency. You can also use Gemini to review your account history, including all your trades, withdrawals, deposits, and pending orders.
Most real customer Gemini reviews that we came across praised this exchange for the inclusivity of its trading platforms. Whether you are a fresh-faced newbie or a seasoned investor, the options available here are more than adequate.
If you are starting your crypto journey, our Gemini review advises you to use the default market trading view. It gives you access to all the digital assets you can trade here and a range of helpful details. Here, you can also execute market trades with ease. We found the entire experience similar to what we covered in our Coinbase review. We also particularly enjoyed the alerts feature – you can use it in Gemini to set alerts on specific price levels that you are interested in.
If you are looking for more advanced buying and selling options like limit orders, you will need to use Gemini’s trading platform, ActiveTrader. We spent a fair amount of time on ActiveTrader while compiling this Gemini review. We not only found it easy to use, but were also impressed with the fact that you can use it to cut down on transaction fees.
Like in any crypto exchange, there are many fees that you can be subject to. Going through each one in this Gemini Review will not be practical. Instead, we have cherry-picked the ones that we feel will affect your Gemini experience and rating the most. We also look at how you can get the best deals when buying crypto on the Gemini exchange.
Gemini is a heavily regulated exchange, but all this security comes at a cost. A standard market order through the exchange will attract a rate of 2.25%. These fees vary depending on how you are executing your trade. The different platforms at your disposal are via the mobile app, API, web or ActiveTrader.
The cheapest way to buy crypto on Gemini is through ActiveTrader. Here you have access to limit orders which have more reasonable maker or taker fees. For a transaction of less than $500,000, you can expect taker and maker fees of only 0.35% and 0.25%, respectively.
Any Gemini review worth its salt wouldn’t be complete without a rational assessment of the customer service. If you look at the cryptocurrency exchange reviews online, you see that this is an area in which most falter. As such, we reviewed it thoroughly and knew it would answer one of the most asked questions – is Gemini reliable?
Gemini has many investor support features, of which you can take advantage. The first is the comprehensive frequently asked questions. Gemini has created a concentration of some of the most common pain points traders have. Whether you are a novice or have been trading for a while, you will find lots of helpful information here.
You can also use the Gemini help desk to get assistance. This feature works on a ticket-based system where you submit a request and wait for it to be resolved. To use this feature, you need to provide details of your problem by filling in a simple form. You will also need to provide a valid email address. Once a request has been submitted, live customer service agents will look through it and get back to you at the earliest convenience.
This exchange has left no stone unturned, and neither did we in our Gemini review. We found out that you can use email to contact customer support. That’s not all. You will also get a live chat feature you can use to get instant help. The live chat, however, is manned by a trusty bot, which will direct you to the appropriate FAQ.
Gemini is one of the most trusted exchanges on the market today. A large part of this is thanks to the fact that Gemini adheres to strict regulatory standards. There are a plethora of such standards that you as an investor also need to abide by. Examples of some laws and regulations you need to consider are state money transmission laws, tax laws, FinCEN stipulated regulations, the New York Banking Law and much more.
Voluntary compliance with all these has earned Gemini a reputation as a sound exchange. We must admit, it seems to be working. During our Gemini review, we found no instances where there were any Gemini scams. Gemini proudly boasts that it has completed the SOC 1 Type 2 and SOC 2 Type 2 exams. Rightly so, because it is the first crypto custodian and exchange in the world to do so. Investors and traders can transact with ease knowing their digital assets are insured here.
What is Gemini? Well, the focus of this exchange has been on trust from day one, and It is apparent that this is the first thing they want you to think about when you hear their name.To earn this trust, Gemini has narrowed down on three clear areas – defending against threats from outside, eliminating human error, and ensuring that there’s no misuse of insider access. We were impressed by how far Gemini will take this commitment – even locking out the CEO and President from exclusive access.
Our Gemini review also revealed that this is more than just an exchange. There are many other things you can do with a Gemini account. For starters, you can use it as a wallet to store all your digital assets. During this Gemini review, we were impressed by how much you can earn by lending out your cryptocurrency. Any account holder can opt-in to the Gemini earn program and start earning interest on their digital assets instantly. This can be as high as 7.4% APY on Bitcoin and other stablecoins like the Gemini dollar.
It would be impossible to go through every feature you find here in this Gemini review. This exchange has not held back and provided traders with security and convenience previously only seen in banking institutions. All accounts in Gemini can also benefit from the secure 2FA system. You will be notified any time your account is accessed and you need to authorize that action.
Gemini is one of the best crypto exchanges for bitcoin that you can use to buy, sell and store your digital assets. It is available across the United States and in other countries in Europe and Asia too. When you think about Gemini, think of regulatory compliance and security.
This exchange has built trust over the years by keeping to the best standards of practice and security protocols.
Apart from that, Gemini also offers competitive fees on the 40 crypto markets they offer. Our Gemini review also noted this as another area where the exchange excels. Through using limit orders in Gemini ActiveTrader, we were able to bring down fees to 0.35%, which is impressive in any crypto exchange.