The Gemini cryptocurrency exchange is one of the largest places based in the U.S. to buy, hold, and sell cryptocurrencies. It offers a broad lineup of cryptocurrencies and has some pretty unique features. In this full Gemini review, we'll discuss the pros and cons of Gemini's platform, as well as some other essential information that can help determine if it's a good fit for you.
Ratings Methodology
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.
Rating image, 4.50 out of 5 stars.
4.50 stars
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.
Bottom Line
The low fees, simple-to-use trading platform, top mobile app ratings, and high interest rates explain why it's among the best cryptocurrency exchanges we've come across.
Fees:
$0.99-$2.99 for orders under $200, 1.49% for orders greater than $200
Account Minimum:
$0
Special Offer
New users: Earn $50 BTC when investing $1,000 or more within 30 days
Full Gemini exchange review
This cryptocurrency exchange is a good fit for: Investors and traders of all skill levels who want a full-featured cryptocurrency platform.
Pros
- Wide cryptocurrency selection
- Low minimum purchases
- Highly-rated mobile app
- Advanced trading platform
- Earn interest on cryptocurrency balances
- Available in all U.S. states
Cons
- Some popular cryptocurrencies aren't on the platform
- No linked debit cards available
- Fee structure is expensive for small trades
$50 Bitcoin bonus
New users can get a $50 Bitcoin bonus when investing $1,000 or more within 30 days. Just sign up through the "Open Account" option on this page to qualify for this bonus.
Top perks
Low minimums
Gemini has minimum order amounts, but they are very low. For example, the minimum quantity of Bitcoin (BTC) a user can buy is 0.00001 BTC. Other digital tokens have similarly small investment requirements.
$50 new user bonus
New Gemini users get a bonus of $50 in Bitcoin when investing at least $1,000 within 30 days. While some cryptocurrency exchanges offer bonuses, this one is on the higher end and can be earned easily. Use the "Open Account" option on this page to qualify.
Mobile app
Gemini has an excellent mobile app that allows users to buy, sell, and convert digital currency from their smartphones or tablets. Users can set up price alerts on cryptocurrencies they're tracking. The Gemini app has a 4.8 out of 5 star rating on the Apple App Store and a 4.5 out of 5 on the Google Play Store.
Advanced trading platform
Gemini offers an easy-to-use desktop trading platform that is more than enough for most cryptocurrency buyers and sellers. You can set recurring buys, sell and convert digital currency, and more.
The company also offers the Gemini ActiveTrader platform that is designed to be a professional-quality trading system. It includes the ability to place multiple order types (such as market or limit orders), features advanced charting tools, and more. What's more, ActiveTrader is mobile-optimized, so it can be used from wherever you are.
Gemini Earn
Gemini Earn is perhaps the biggest differentiator between the Gemini exchange and its competitors, as it allows customers to earn interest on their idle cryptocurrency balances. Interest rates are subject to change, but as of January 2022, customers can earn around 1.5% on Bitcoin deposits and over 8% on stablecoins like the Gemini dollar -- more than what the best online savings accounts pay.
Gemini Pay
Gemini offers the Gemini Pay feature through its mobile app. This allows users to pay for goods and services with their cryptocurrencies at more than 30,000 retail locations in the U.S. with QR code technology. Users can choose which cryptocurrency to use -- for example, you can choose to spend Ethereum (ETH) to buy dinner, but leave your Bitcoin balance intact.
Educational resources
Gemini offers perhaps the most impressive collection of cryptocurrency learning content in its Cryptopedia educational library. From introductory pieces about Bitcoin and other cryptocurrencies to more advanced discussions about trading, blockchain technology, and more, Gemini has what you need.
Available in all U.S. states
Several cryptocurrency exchanges aren't able to offer their services in every U.S. state, especially those that pay interest on crypto deposits. Gemini's commitment to compliance means it can operate throughout the country.
Credit card offering
Gemini hasn't yet launched its crypto rewards credit card but the waitlist is open. U.S. customers will be able to apply for this no annual fee card that offers robust rewards. Customers can opt to earn rewards in Bitcoin or a wide array of available cryptos.
TIP
Our top crypto play isn’t a token - Here’s why
We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market — Bitcoin, Dogecoin, and all the others. In fact, you've probably used this company's technology in the past few days, even if you've never had an account or even heard of the company before. That's how prevalent it's become.
Sign up today for Stock Advisor and get access to our exclusive report where you can get the full scoop on this company and its upside as a long-term investment. Learn more and get started today with a special new member discount.
What could be improved
Even the best cryptocurrency exchanges can be improved. Here are a few drawbacks to the Gemini platform that investors and traders should be aware of.
Some tokens aren't available
There are thousands of different cryptocurrencies in the world, and over 70 of them trade on the Gemini platform today. To be sure, many of the cryptocurrencies in existence are small, obscure, and don't really deserve a place on any major exchange platform. However, there are some top-20 cryptocurrencies by market cap that aren't available for trading on Gemini. Gemini primarily lists ERC-20 tokens (ones built on the Ethereum ecosystem), so as other ecosystems grow more popular, Gemini users are missing out.
No debit cards linked to accounts
Gemini Pay is certainly a nice feature that opens up cryptocurrency as a payment method at thousands of merchants. But it isn't nearly as universal as the Visa-branded debit card offered by one of Gemini's key rivals. It does have a Mastercard-branded crypto credit card in the works, but it isn't clear if this will allow cardholders to spend digital currency directly.
Expensive for small trades
Gemini's fee structure is competitive, especially when it comes to larger trades. The company's 1.49% transaction fee on orders over $200, for example, is certainly in line with its peers. However, the fees can get expensive on smaller transactions.
As you'll see in the fee table below, if you were to order $5 worth of Bitcoin on your Gemini app, the platform would charge a $0.99 transaction fee, or roughly 20% of your order amount.
Alternatives to consider
If you want to trade stocks as well: Robinhood is primarily known as a stock trading platform, but it also has a good selection of cryptocurrencies available for a platform that isn't a traditional digital currency exchange. In addition to being one of the best stock brokers for beginners, there are many different cryptocurrencies available on the platform, and it's 100% commission-free.
If you want a larger selection of cryptocurrencies: Gemini's closest competitor is Coinbase, and there are some unique features that might appeal to users. For starters, there are more cryptocurrencies available to trade. And Coinbase offers a linked debit card that allows customers to spend cryptocurrencies anywhere that Visa is accepted.
Thinking about Robinhood? See The Ascent's guide on Gemini vs Robinhood.
| Offer |
New users: Earn $50 BTC when investing $1,000 or more within 30 days |
Robinhood
Certain Limitations Apply |
Earn $5 in bitcoin when you place your first trade. |
|---|---|---|---|
| Rating |
Rating image, 4.50 out of 5 stars.
|
Rating image, 4.50 out of 5 stars.
|
Rating image, 4.50 out of 5 stars.
|
| Commissions |
$0.99-$2.99 for orders under $200, 1.49% for orders greater than $200
|
$0 for stocks, ETFs, options, and cryptocurrencies
|
$0.99-$2.99 (Coinbase), 0%-0.50% (Coinbase Pro)
|
| Next Steps |
|
How Gemini works
Users can buy, store, and sell cryptocurrencies through Gemini's web-based platform, highly rated mobile app, or through the company's active trading platform.
Gemini provides several products for crypto investors. These include:
- Gemini Exchange and ActiveTrader tools for trading cryptocurrencies.
- Gemini Earn to pay interest on crypto balances.
- Fully insured Gemini online wallet.
- Gemini Clearing to facilitate off-exchange crypto trades.
Unlike some of the places you can buy cryptocurrencies, Gemini is purely a digital currency exchange and custodian. It doesn't offer stocks, options, or other types of investment.
Fees overview
Gemini charges a fee structure that includes a convenience fee and a transaction fee. The convenience fee is included in the quoted price of whatever cryptocurrency you're buying and is typically a markup of 0.5% over the quoted price for buy orders. The transaction fee depends on what currency is being used and the size of the transaction. For transactions made with U.S. dollars, the Gemini transaction fee schedule for both mobile and web-based orders is as follows.
| Order Amount | Transaction Fee |
|---|---|
| $10 or less | $0.99 |
| $10.01–$25 | $1.49 |
| $25.01–$50 | $1.99 |
| $50.01–$200 | $2.99 |
| Greater than $200 | 1.49% of order value |
There's also a separate fee schedule that applies to orders placed through Gemini's ActiveTrader platform, which can be significantly less expensive, especially for traders who have high trading volume (think millions per month).
It's free to deposit money to your Gemini account through ACH, wire transfer, or transfer of cryptocurrencies from external accounts. However, debit card deposits have a relatively high 3.49% fee. Withdrawals from Gemini's platform are free for the most part, which sets it apart from many other platforms. But if you need to make more than 10 withdrawals a month, be sure to check out the fees, which vary from crypto to crypto.
Cryptocurrency selection
There are currently over 70 cryptocurrencies available for trading on Gemini's platform. It supports some native assets, such as Bitcoin (BTC) and Ethereum (ETH). But the majority of tokens are ERX-20 tokens built on the Ethereum blockchain. This means several popular cryptocurrencies are not available. For example, Gemini does not list Solana (SOL), Cardano (ADA), or Avalanche (AVAX) -- all important smart contract cryptocurrencies.
Learn more: Find out which cryptocurrencies are available from each exchange.
Is your cryptocurrency safe with Gemini?
Yes. Gemini stores the majority of assets offline in "cold storage," which means on servers that aren't connected to the internet and are difficult to hack. The small proportion that's in a "hot wallet" -- online and readily accessible -- is insured. Gemini maintains insurance against the theft of customer assets due to a security breach, fraudulent bank transfer, or employee theft.
However, Gemini's insurance does not cover losses resulting from unauthorized access to user's accounts (say, if someone figures out your password). So, it's still important to take steps to keep your account credentials safe.
Gemini also has all the user-level security features you'd expect, such as two-factor authentication and the ability to restrict withdrawals to certain pre-approved addresses.
It's also worth noting that if you maintain a U.S. dollar balance in your account, that money is FDIC insured up to $250,000 per customer, just as if it were kept in a savings or checking account.
Gemini also takes compliance seriously and sees regulation as a way to demonstrate its commitment to keeping investors safe.
Gemini is right for you if:
- You want a user-friendly platform with a great mobile app to buy, store, and sell cryptocurrencies.
- You want to be able to spend individual cryptocurrencies at real-world merchants.
- You want to earn interest on your unused cryptocurrency balances.
About the Author
Matt is a Certified Financial Planner® and investment advisor based in Columbia, South Carolina. He writes personal finance and investment advice for The Ascent and its parent company The Motley Fool, with more than 4,500 published articles and a 2017 SABEW Best in Business award. Matt writes a weekly investment column ("Ask a Fool") that is syndicated in USA Today, and his work has been regularly featured on CNBC, Fox Business, MSN Money, and many other major outlets. He’s a graduate of the University of South Carolina and Nova Southeastern University, and holds a graduate certificate in financial planning from Florida State University.
Share This Page
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. The Motley Fool has a Disclosure Policy. The Author and/or The Motley Fool may have an interest in companies mentioned.
Robinhood disclosure
This advertisement contains information and materials provided by Robinhood Financial LLC and its affiliates (“Robinhood”) and Publisher, a third party not affiliated with Robinhood. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Securities offered through Robinhood Financial LLC and Robinhood Securities LLC, which are members of FINRA and SIPC. Publisher is not a member of FINRA or SIPC.
Robinhood Crypto disclosure
This advertisement contains information and materials provided by Robinhood Financial LLC, Robinhood Securities LLC and its affiliates (“Robinhood”) and Publisher, a third party not affiliated with Robinhood. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Securities offered through Robinhood Financial LLC, a member of FINRA and SIPC and a wholly-owned subsidiary of Robinhood Markets, Inc. Cryptocurrency trading offered through Robinhood Crypto LLC. Robinhood Crypto and Publisher are not a members of FINRA or SIPC and cryptocurrencies are not stocks and your cryptocurrency investments are not protected by either FDIC or SIPC insurance.
The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.
Copyright © 2018 - 2022 The Ascent. All rights reserved.
About The Ascent
Legal