Buying and selling cryptocurrency online can be a daunting task, especially for the uninitiated. Many programs in the market can assist, but they require experience and pre-learned knowledge.
However, there are some trading programs that work well for those who are ready to get started. One of those platforms is known as Gemini.
This Gemini Exchange review was written specifically to better help users who are starting out with Gemini. It will help them understand what makes Gemini so popular and why it is perfect for first-timers.
What Is Gemini?
Gemini is a cryptocurrency exchange program that was developed by Cameron and Tyler Winklevoss. Interesting trivia: They are the twins who won a $65 million lawsuit against Facebook.
The platform was developed after they invested over $10 million into Bitcoin, and it was launched in 2014. It also became the first licensed Ether exchange program two years later in 2016.
Gemini is based in the United States of America and primarily operates and handles cryptocurrency traffic within the country. However, it is also available in other countries such as Canada, Singapore, and the UK.
User-Focused Account and Dashboard
Registration for Gemini requires detailed background information, including a link between mobile numbers and bank accounts for authentication. While this is an extensive process, it is necessary especially for those wondering if Gemini exchange a safe choice.
Gemini’s dashboard is an easy-to-use, easy-to-read page with details on each aspect of the current status of your cryptocurrency. For example, they have a record of the last price of Bitcoin in USD.
The statuses also contain a 24-hour change report and range, previously recorded trades, and your current account value. This is a helpful guide that can help users keep track of their expenses and transactions.
You can also find important information about your account, specifically regarding the value, on there. You can see how much you have in your fiat currency, Bitcoin, and Ether currency.
Exchanges and trades happen instantly, so you do not need to wait long for updates on your account. In fact, Gemini is one of the few platforms that allows the direct exchange from Bitcoin to USD.
Users in America will enjoy the trustworthy transaction system, which connects directly to some mainstream banks in the country. The platform complies with all banking standards, so you can start buying with very little complications.
The transaction board comes with an accurate tracking chart that lists buyers and sellers. It can be set to refresh in different intervals, from five seconds to one minute.
It also has many other options for your order, such as the type, price in USD, and quantity of cryptocurrency. This leads to an overall projection of what you will get, which is perfect for predicting how much your Bitcoin will get you.
Gemini has a standard fee of roughly 1% for both miners and takers. This is written in a detailed percentage list, so all types of traders can keep track of how much their transaction will cost.
Gemini has an outstanding reputation for security. In fact, the only noteworthy downtime the system has experienced was on 28 November 2017 wherein the system was down for several hours due to a technical glitch. Its owners vouched for the protective measures back in 2015.
To be on the safe side, users can enable a two-factor authentication password. Gemini can update them with any changes or issues via SMS as well.
Registration itself takes a while, since users need to submit an activation code to even get their account started. After that, they will need to link their Gemini account to their bank accounts, which requires the uploading and processing of bank documents.
Storage for the money itself is kept mostly offline, while online assets are protected by Amazon Web Services. This reflects on the high security standards and measures employed by the app.
There is a record of high traffic crashes, so Gemini has spent time improving their customer support for their clients. Thankfully, the service is well-refined and easy to navigate, which makes it easier to isolate problems, should they come up.
They also have a detailed FAQ that users can utilize to check for different types of problems. If they have any special concerns, they can send an email to the team for more detailed assistance.
The issues with their customer support is that it does not have phone or chat options. This means users might have to wait a while for a resolution to their issue.
Aside from focusing on technical problems, the FAQ also deals with using the program itself. Gemini is one of the few to give detailed tutorials for using their service.
Through it, you can learn to buy and sell Bitcoin and Ether. Here is a quick guide on how to use the exchange properly:
4.3 out of 5 stars. The robust security and seamless transaction is a great asset. The limited cryptocurrency supported by the app, the country availability, and the overall integrity of the user interface could use some improvement.
This Gemini Bitcoin review proves that the app is an accommodating platform with high-end security measures and user-friendly interface. While it is limited in country and currency range, it has great navigation for first time traders.
The user account is a comprehensive list, reflecting its strict security requirements. Thankfully, there is also an in-depth FAQ guide for issues and proper use.
The biggest issue for the platform is its range and delay in customer response. Only a few countries outside the US can enjoy Gemini, and they do not have a chat or phone option for immediate concerns.
- Comprehensive registration, for both user and bank account
- Easy-to-understand dashboard
- Immediate transaction response and tracking
- Detailed miner and taker fees
- Two-factor authentication for users
- Cold storage wallets
- SMS authentication
- Extensive FAQ for technical problems
- Tutorial blog for buying and selling
- Limited range in country support
- USD, Bitcoin, and Ether only platform
- Tendency to crash in times of high traffic
- No direct customer service contact, such as phone or chat
The Gemini Bitcoin wallet is one of the most user-friendly programs in the market. It has a secure platform, easy navigation, and use for transactions.
The only drawbacks to Gemini are its limited range in trade and the lack of direct customer support. With a detailed and practical FAQ, users can still fix their issues without delay.
For both experienced and first-timers users, especially in the US, Gemini can be the best launchpad. It can help users tackle cryptocurrency without a hitch.