Business & Finance
Is Gemini Trading Legit?
Gemini is a New York-based crypto exchange that started in 2014. Gemini is one of the few U.S.-regulated cryptocurrency exchanges created by Tyler and Cameron Winklevoss. Gemini is regulated by the NYSDFS (New York State Department of Financial Services).
What Gemini Trading Offers?
Gemini offers to trade over 20 cryptocurrencies, including its own called Gemini dollars (GUSD). Partnerships with Samsung power customers in the U.S. and Canada to connect their Samsung blockchain wallet to the Gemini app and trade currencies. You can also store cryptocurrencies with Gemini. Here’s all that is offered when trading with Gemini:
Fund Your Account: First, you will have to fund your account from your bank account using a credit or debit card. However, there are daily funding and withdrawal limits, with the former being $500 daily and $15,000 monthly, and the latter being $100,000. You can also fund your Gemini account using cryptocurrencies from another wallet, provided these currencies are BTC, ETH, LTC, BCH, or ZEC.
Mobile Trading: Like many crypto exchanges, Gemini has a mobile app that allows you to trade anytime, anywhere. The mobile app is easy to comprehend with a user-friendly interface and can be compared to the desktop version. However, executing complex trades is best advised via a desktop platform as they can be a little tedious on the mobile app.
Gemini Earn: Gemini Earn was recently launched with the ability to earn interest on your crypto tokens, which means more crypto savings. You can earn up to 8.05% on various tokens and 1.49% on Bitcoin.
Credit Card: Gemini Credit Card will enable customers to earn up to 3% back on their transactions with zero annual fees. Customers should join the soon-to-be-launched waiting list for the reward card. Here are a few rewards offered:
- Grocery Stores: 2% back
- Restaurants: 3% back
- Everything else: 1% back
Gemini Dollar: The Gemini dollar is a coin that can be used for all sorts of transactions, be it lending or investing. It is backed by U.S. dollars and offers 1:1 transferability back to USD at any given point.
Nifty Marketplace: This is Gemini’s recently launched platform. It is a platform where you can buy and sell collectibles and digital art. Digital assets can also be stored in the marketplace, further increasing buyer and seller trust and security.
Is Gemini Trading Safe?
Gemini hasn’t been hacked ever since they began operations. USD stored in your Gemini account is FDIC-insured, hence safe. Security is the main selling point for Gemini. Therefore, utilizing all the security and compliance, Gemini is complacent in SOC 1 Type 1, SOC 2 Type 1 and Type 2. Though, with such compliances, users should be ready to share a bit of their info, like bank account details, email address, identity proof, etc.
Gemini Trading: Legit or No?
It is determined that Gemini began with a “security-first” mindset. Thus, it is one of the most secure cryptocurrency exchanges available. Gemini provides a smooth trading platform for beginners and advanced crypto traders, and its platform is easy-to-use. Hence, you can enjoy trading popular cryptocurrencies, like Bitcoin, Ethereum, Zcash, LTH, Binance, etc. Yes, Gemini trading is legit!
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