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by Lyle Daly | Published on Oct. 6, 2021
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With ample features and a user-friendly design, Gemini is a great crypto exchange for buying Bitcoin.
Since Bitcoin (BTC) is the biggest cryptocurrency by a wide margin, it's also the easiest to buy. You can find Bitcoin on just about any crypto exchange or app, as well as several stock brokers. If you're looking for the best place to buy it, Gemini is a popular option that's well worth considering.
Created by the Winklevoss twins, the Gemini exchange ranks among the largest cryptocurrency exchanges in the United States. To decide whether it's the right place to buy Bitcoin, let's look at what it does well as an exchange and how it compares to other options.
Here are the biggest reasons Gemini is a smart choice for buying Bitcoin.
As a crypto exchange, Gemini covers all the bases. It has a wide range of benefits with no glaring weaknesses. And though it's well-suited for beginners, it also has an advanced platform (Gemini ActiveTrader), which offers additional trading features for more experienced investors.
Gemini's trading fees depend on which version you use. Fees are about average on its regular platform, but Gemini ActiveTrader has some of the lowest trading fees.
The regular Gemini platform charges a flat fee on transactions of up to $200 and a percentage fee on larger purchases. Here's its fee structure:
|Order amount||Transaction fee|
|Up to $10||$0.99|
|Over $10 up to $25||$1.49|
|Over $25 up to $50||$1.99|
|Over $50 up to $200||$2.99|
A 1.49% fee isn't bad, but the flat fees on smaller purchases can be costly. However, if you're going to buy Bitcoin on Gemini, it makes more sense to use Gemini ActiveTrader.
Gemini ActiveTrader uses a maker-taker fee model. If you place an order that's filled immediately, you pay the taker fee. If you place an order that's not filled immediately, you pay the maker fee.
Taker fees on Gemini ActiveTrader start at just 0.35%, and maker fees start at 0.25%. It's also possible to get even lower fees, but those lower fees require at least $500,000 in 30-day trading volume.
Gemini is an excellent place to buy Bitcoin, whether you're a beginner, intermediate, or advanced crypto trader.
There are quite a few quality cryptocurrency apps and exchanges, and depending on your situation, you might find another option you like better. For example, a stock broker with crypto trading could work well if you also want to invest in stocks. Or, you may decide you want an exchange with more cryptocurrencies or different features.
It's always good to compare your options before committing to an exchange. That said, the combination of security, features, affordable fees, and top-notch design make Gemini a winner.
There are hundreds of platforms around the world that are waiting to give you access to thousands of cryptocurrencies. And to find the one that's right for you, you'll need to decide what features that matter most to you.
To help you get started, our independent experts have sifted through the options to bring you some of our best cryptocurrency exchanges for 2021. Check out the list here and get started on your crypto journey, today.
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