Gemini Exchange: Worth It? COMPLETE Beginner's Guide!!
❓ Who is Gemini? ❓
Gemini went live back in 2015 - that’s eons in the crypto space. But even back then, Gemini was best known for its regulatory compliance. Yes, that may sound boring but it is becoming increasingly important in the crypto space these days - particularly for people based in the US. The exchange has even run ads in the past proclaiming how regulated they are. That’s actually something to shout about, seeing that they are regulated by the New York State Department of Financial Services. This means they are one of the new crypto exchanges that can take users from New York. It also means that Gemini is one of the top exchanges of choice for corporations, asset managers and wealth managers. But who are the good boy founders that seem to love regulation? Well, that would be the Winklevoss twins.
🔒 Gemini Security 🔒
Gemini deploys some of the most stringent security precautions out there. I get into the nitty gritty about Gemini’s security procedures and account security in my vid - so watch that if you want to learn about this. ₿ Supported Cryptos ₿ Around 50 crypto assets are available to buy and sell on Gemini. Yes, that’s not the widest selection out there, but it should be more than enough choice for most. The exchange also supports users from every US state, as well as customers from around 60 other countries.
🕵️♂️ Verification Requirements 🕵️♂️
Gemini is a full KYC exchange. So, if you are not comfortable with that then this is not the exchange for you. So, you’ll need to provide documents such as a proof of address, like a utility bill and a government issued ID document like a passport or a driver’s license.
💵 How To Deposit Fiat? 💵
Watch my vid to see all the steps to deposit fiat on Gemini.
⏬ How To Deposit Crypto? ⏬
Depositing crypto on Gemini is a breeze. If you want to make sure you're doing it correctly then check out my step-by-step guide in the video.
📈 Trading Fees 📈
If you trade on Gemini’s mobile app or are using their default trading method then you’ll pay through the nose for that convenience. You’ll literally be paying 2% in fees here. However, if you use the ActiveTrader platform then you’ll slash those fees to a maximum of 0.35%!
📊 How To Trade? 📊
I show you exactly how to place your first trade using ActiveTrader in my vid. So, be sure you check that out if you want to pay the cheapest fees on Gemini.
🤷♂️ Other Features 🤷♂️
Gemini has focused on being a straight up exchange and doesn’t have the bells and whistles that some of its other competitors have. However, they also have a great mobile wallet, which means you can store your coins and piggyback off Gemini’s impressive security infrastructure.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.