Aiming to provide a sturdy and reliable bridge to the future of money – according to its own slogan – Gemini (gemini.com) is a New York-based crypto currency exchange launched in October 2015, by the Winklevoss twins of Winklevoss Capital Management LLC. The company behind the exchange is Gemini Trust Company LLC, and Tyler Winklevoss is its CEO. Having been involved in various Bitcoin-related investments for years, the Winklevoss twins saw it fit to err on the side of caution this time, pushing their startup through a series of regulatory hoops, earning a license as a New York State Limited Liability Trust instead of operating under Bitlicence. This way, the exchange can serve corporate as well as retail clients.
Gemini currently has offices in most of the US states, in Canada, as well as in the UK, in London. The current address of the Gemini Trust Company headquarters is 600 Third Avenue, 2nd Floor, New York, NY 10016. They can be contacted via toll-free phone at +1(866)240-5113.
Open 24/7, the exchange features three currency-pairs: BTC/USD, ETH/USD and BTC/ETH.
Gemini runs on three distinct order-matching engines, one for each of the above said currency pairs. Every trade executed through the Gemini marketplace is reported both to the public and the customer through the market data API. Gemini is a full-reserve exchange meaning that all trades hosted by its platforms are pre-funded. Gemini also features public and private REST APIs for which full documentation is available at gemini.com. Amazon Web Services acts as the host of the hot wallet of the operation, while cold-storage tasks are fulfilled by state-of-the-art systems.
All Gemini Customers trade from pre-funded accounts. Personal accounts are the default ones. Institutional traders have to go through a separate registration process.
Commissions and Fees
The current deposit and withdrawal fees are 0, and there is an 0.25% trading fee taken of both sides of a trade. There’s a dynamic fee schedule across all three order matching engines. Liquidity-making trades can generate rebates of up to 0.15%, while liquidity-taking trades incur a fee of 0.15%.
Gemini Trust Company LLC operates in full compliance with the New York Banking Law and its activity is regulated by the New York State Department of Financial Services. As a fiduciary, it can work with retail- as well as institutional customers. The company has an account with FinCEN too, though it isn’t required by law to register with the authority.
Customer support is apparently one of the more maligned aspects of the operation. Gemini support can only be reached through a Zendesk-powered email form. The Help Center provides an FAQ section too.
Gemini accepts deposits and honors withdrawals through Bitcoin, Ether, Wire Transfer and ACH. In all cases, no fees are associated with the operations.
With well-known celebrity investors in its background, Gemini is a genuine US-based and fully regulated crypto currency exchange, that has thus far done its work without significant hiccups. Admittedly however we could not find a lot of testimonials and reviews from Gemini customers. This most likely indicates that Gemini a trustworthy bitcoin exchange, otherwise we would surely find some bad reviews.
If you traded with Gemini, please leave a comment below detailing your experience with this bitcoin exchange.
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