A short review of Gemini Exchange

A short review of Gemini Exchange, TraderActive vs Mobile App features

Low commission trading experience


Gemini Exchange, founded in 2014, is a centralized exchange platform for trading of cryptocurrencies. It is available in web and mobile interfaces, and supports many common fiat currencies for crypto trading. Setting up the account is quite a breeze but have to go through the usual KYC. I set up my account about three years ago. 

Funding the account


The account can be easily funded by fiat or cryptocurrencies. If you do not have USD, simply deposit in SGD to trade by linking up your SGD bank account. The transfer (in/ out) is done via FAST through Xfers so it is fast! Do note that a maximum of 20,000 SGD can be sent per deposit transaction. Each account holder has a unique bank account number assigned, so be sure to input that correctly under Transfer details. 


If you prefer to trade in USD, you can link up a multi-currency account and remit USD which takes about 1-2 working days to be reflected when you make a deposit or withdrawal. Be sure to input your reference code under "comment/remark" when making the bank transfer (no unique bank account number, which is only for SGD). Withdrawal back to your multi-currency account only incurs bank transfer fee of USD10. Do note that you will need to verify the bank accounts that you link up by following the instruction to make a first deposit, after which, you will be able to make fiat withdrawals.


If you hold GUSD (the Gemini stablecoin), you can also send it to the Gemini Exchange for use as trading fund. GUSD will be burnt when transferred to the platform and converted to USD. 


You can also use ETH and BTC for trades as there's a few their trading pairs (except on Mobile app). Note that fees will be charged in % terms of ETH and BTC when you choose to trade in those base pairs. 






What I liked about ActiveTrader platform

  • Real time bid-sell spread can be seen.
  • Able to place limit buy / sell orders.
  • Email notifications for order placed, order cancellation, order filled, deposit and withdrawal.
  • Low trading fee
  • No fee for transfer of cryptocurrencies (up to 10 per month)


What I disliked about it

  • Orders cannot be amended. Need to cancel them and place the orders again if I want to change price / qty.
  • Not as many cryptocurrencies available as Coinbase or Binance.com
  • No performance analytics
  • No account statement for download
  • Need to pop over to Gemini Earn (icon on the top left side of screen) to see the total portfolio value and transaction history better


ActiveTrader vs Mobile App


I use the ActiveTrader platform most of the time but the Gemini mobile app is not without its merit. Besides the convenience of trading on-the-go, Gemini mobile app is easy to use and has some handy features not available on the web version. If you are not used to a trader platform interface, Gemini also has a simple web interface that is similar to its mobile app for spot price purchase and sale of cryptocurrencies.


Below is a comparison table of their features


Security Features

Gemini supports 2FA for logins. 

The majority of crypto there is held in an offline, air-gapped Cold Storage system. Only a small portion is held in their online Hot Wallet, which is insured. Reference here.


This is a non-sponsored post. Thanks for reading!


If you wish to open an account with Gemini, sign up with my referral link to get USD 10 worth of bitcoin when you trade $100 or more (in USD equivalent) within 30 days.



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