Gemini Review 2024: Pros, Cons and How It Compares
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Our Take
4.3
The bottom line:
on Gemini's website
Pros & Cons
Pros
Strong selection of cryptocurrencies.
Available in all U.S. states.
Cons
Higher fees than some other crypto exchanges.
Limited crypto-to-crypto trading pairs on mobile app and web. (100+ on ActiveTrader.)
Compare to Similar Brokers
Current Product
NerdWallet rating 4.3 /5 | NerdWallet rating 4.8 /5 | NerdWallet rating 3.9 /5 |
Fees 0.03% - 3.49% depending on payment method and platform | Fees 0% - 4% varies by type of transaction; other fees may apply | Fees $0 per trade |
Account minimum $0 | Account minimum $0 | Account minimum $0 |
Promotion $20 of BTC for new users after trading $100 or more within 30 days | Promotion Get $200 in crypto when you sign up. Terms Apply. | Promotion None no promotion available at this time |
Learn more on Gemini's website | Learn more on Coinbase's website | Learn more on Robinhood's website |
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Full Review
Where Gemini shines
Accessibility: Some cryptocurrency exchanges are available only in select states, but Gemini is available to residents in all 50 states.
Good for both beginner and advanced traders: Gemini has a simple interface for new crypto investors, while more experienced traders will appreciate its ActiveTrader platforms.
Where Gemini falls short
Smaller cryptocurrency selection: Gemini offers access to a comparatively low number of cryptocurrencies.
Limited staking: Although Gemini has recovered from issues related to its Earn program, it now offers a slimmed down staking program of just a few coins.
Gemini is best for
Cryptocurrency beginners.
Advanced investors, via the ActiveTrader platform.
Gemini at a glance
Trading and transaction fees | Around 1.99% depending on trading platform; 3.49% for debit card purchases. |
Minimum trade | 0.00001 BTC |
Number of cryptocurrencies | Around 70. |
Crypto-to-crypto trading pairs | Around 20. 100+ on ActiveTrader. |
Website transparency | Important information easily found on the website. |
Staking and rewards | Gemini has options for earning rewards on 3 cryptocurrencies. |
Customer service | Email and chat support. |
More details about Gemini's ratings
Trading and transaction fees: 3 out of 5 stars
Gemini’s fees are slightly higher than some other crypto brokerages and vary depending on the platform you’re using. Gemini doesn’t charge transaction fees for deposits from U.S. bank accounts or wire transfers (although your bank might). But If you’re using a debit card for purchases, the fee is 3.49%, and other fees may apply.
For mobile and web users, Gemini charges a flat 0.5% above the current trading price (which Gemini calls its “convenience fee”).
On top of that, it charges a transaction fee, similar to Coinbase, based on the amount traded: a tiered flat fee up to $200; orders above $200 are charged 1.49%. So, together, the fee to buy $200 worth of Bitcoin would be about 1.99%.
Total trade amount | Fee |
|---|---|
$10 or less | $0.99. |
More than $10 and up to $25 | $1.49. |
More than $25 and up to $50 | $1.99. |
More than $50 and up to $200 | $2.99. |
More than $200 | 1.49% of your web order value. |
For more serious, high-volume crypto traders, Gemini has a different rate structure based on 30-day dollar-volume of trades on its ActiveTrader platform. Rates also are based on liquidity of the asset at the time of purchase; if immediately available, you're charged a “taker” fee, and if your order needs to wait for a buyer, you are charged a “maker” fee. The “auction” option allows the sale of blocks of cryptocurrency at a maximum buy price or minimum sell price.
Pricing tier | Taker fee | Maker fee |
|---|---|---|
Less than $10,000 | 0.40% | 0.20% |
≥ $10,000 | 0.30% | 0.10% |
≥ $50,000 | 0.25% | 0.10% |
≥ $100,000 | 0.20% | 0.08% |
≥ $1M | 0.15% | 0.05% |
≥ $5M | 0.1% | 0.03% |
≥ $10M | 0.08% | 0.02% |
≥ $50M | 0.05% | 0% |
≥ $100M | 0.04% | 0% |
≥ $500M | 0.03% | 0% |
Minimum trade: 5 out of 5 stars
Gemini has low minimum trade amounts, which vary by the type of cryptocurrency you want to trade. For example, the minimum Bitcoin trade is 0.00001 BTC.
Number of cryptocurrencies: 4 out of 5 stars
Gemini offers around 70 cryptocurrencies.
Crypto-to-crypto trading pairs: 2 out of 5 stars
Around 20 crypto-to-crypto trading pairs are available on mobile and web, with more than 100 through Gemini’s ActiveTrader platform.
Staking and rewards: 2.5 out of 5 stars
Gemini previously had a Gemini Earn program that advertised rewards on some cryptocurrencies. But in November 2022, the company said it had to delay withdrawals from that program amid the fallout from the collapse of rival exchange FTX. By June 2024, Gemini announced that it had returned 100% of the assets that it owed back to customers.
The company has since restarted a modest staking program, with three eligible assets earning somewhere between 3% and 4%.
Mobile app: 5 out of 5 stars
Gemini offers a free app for both iOS and Android. Both versions are highly rated by app store users and mimic many of the same functions and features as the desktop site.
Customer support options: 2 out of 5 stars
Gemini offers customer support via email and chat.
Other features you should know
Platform: Gemini has two platforms, both of which are free to join. The basic platform — a straightforward, simple interface to purchase cryptocurrency based on the total amount of crypto or the total amount of U.S. dollars you want to spend.
Gemini’s ActiveTrader platform has more bells and whistles, such as advanced charting, tracking multiple order types and block trading.
Is Gemini right for you?
Gemini offers a quick setup and convenient interface for new cryptocurrency investors, as well as strong tools for more serious traders. While some fees may be higher than some competitors on its mobile and web apps, Gemini’s security features, such as insurance for digital assets, are attractive — especially for those new to the crypto world.
Methodology
How do we review cryptocurrency platforms?
NerdWallet’s comprehensive review process evaluates and ranks platforms and companies that allow U.S. customers to buy and/or sell cryptocurrency. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgments on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 10 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating brokers and our process, read our full methodology.
on Gemini's website
