Gemini Bitcoin Exchange Review
5 stars based on
31 reviews
Gemini is a large cryptocurrency exchange that can sit comfortably next to some of the other larger exchanges on the market. With the continued growth of the crypto exchange market, it can be difficult to know which one to trust and which one to ignore. Let's be honest, we gemini bitcoin exchange reviews have time to go from site to site reading about small details of all exchanges. And sometimes, the information presented on one portal is simply not enough.
You also have to consider whether the information is credible. We have an in-depth analysis and detailed review of Gemini Bitcoin Exchange, having gone through the process of signing up gemini bitcoin exchange reviews actually buying through the exchange. Once you have read this, we hope you are positioned to make an informed decision about whether to use Gemini to trade cryptocurrencies. Gemini was founded in by the famous duo, the Winklevoss twins.
They are famous for many reasons, one is for suing Facebook creator Mark Zuckerberg for their original idea of the social networking website. They have had an interest in bitcoin and cryptocurrencies in general and were actually involved in Bitinstant - the website that was involved in facilitating drug-deals. The duo however stated that they were only passive investors, and were not aware about the operations at length.
Gemini is based in the US, and draws the majority of its traffic from the US itself. Their biggest market however is definitely the US. The company is expanding slowly, and so far has no history of being hacked, always a positive sign. The fact that it has not been hacked does not mean it will never be hacked in future. Any malware attack on a website is almost impossible to predict. Given the fact that Gemini has not fallen victim of an attack, trust from its user base continues to grow.
The brothers focused on regulating their cryptocurrency exchange, which went in the opposite direction to other exchanges who followed the decentralised blueprint started by bitcoin. Before becoming operational, gemini bitcoin exchange reviews became a fully registered and compliant enterprise, gemini bitcoin exchange reviews the highest levels of banking reserves they could.
It should not be confused with the auctions that happen on New York Stock Exchange, but there are similarities. Auctions happen twice a day, where large volumes of crypto-assets particularly Bitcoin and Ethereum are traded in the short-time. This is a risky practice, as small traders might try to predict the market by studying the shift, and place orders to maintain the balance. Where big traders often win big, small traders often take the brunt of the collateral.
As with all market sentiment, these auctions can increase trading emotions such as greed, fear and panic. It is advisable to be weary and not make sure you are correctly risk managed. The signing-up process is quite secure. Once gemini bitcoin exchange reviews new user adds his name, email ID and gemini bitcoin exchange reviews, he is sent an activation code to his email.
Gemini bitcoin exchange reviews after he enters that activation code, is he allowed to proceed with his new account. This depicts the high level of security and safety of the exchange. After this, it is advised the user activates 2FA, which actually comes almost as a mandatory option. After setting up 2FA two-factor authenticationthe user can link his bank account and must submit the relevant documents, and get their account verified.
The account verification is usually quick and relatively smooth. Gemini, operating in over 45 states of USA is gemini bitcoin exchange reviews with American code of conduct and is very much on the side of the government when it comes to legality. It allows customers from other international domains, but only allows USD deposits in their bank accounts, not ideal.
They are expanding their operations and trying to add more international diversity, however before they cross that bridge they must solve the issue of large influxes of traffic.
Their crashes and maintenance breaks have already cost the users heavily, and as a result has caused users to look elsewhere. When compared to popular competitors like coinbase.
It has constantly been below 50 million in views, while coinbase. Social media has a hand in the popularity of cryptocurrency exchanges. While studying about Gemini, it was discovered that YouTube contributes maximum As discussed earlier, Gemini supports only Ethereum and Bitcoin.
This restricts it from becoming popular among altcoin investors. Bitcoin and Ethereum are the two most common currencies on every cryptocurrency exchange, but Gemini is not doing anything different or unique by supporting these two coins, which could be seen as a disadvantage. Gemini does not support marginal trading, which may not be an issue for those who have a lot of backing but for traders who want to leverage their position, it does pose a serious stumbling block. The unique feature about the Gemini exchange is the auctions feature.
They allow users to predict the market shift, and speculate the changes. But it can be equally dangerous considering the high volumes involved. If speculations are on the wrong side, it can create a panic among public. And we all know, panic is never good! Gemini has one of the most reasonable fee structure of all exchanges. It charges a standard 0. They also have a maker-taker model, similar to Poloniex, in which they offer discounts and low fees to the ones who are 'buying' the cryptocurrency.
The fees further depends on the volumes as well. If the volume of the currency that you want to buy is high, the fees is lower. Gemini, however does not charge any deposit fees. ACH takes almost one business day to process. So, it is better to always keep some money in your crypto-exchange account to buy when the price dips. Instant orders can only happen if gemini bitcoin exchange reviews money is available.
When compared to other exchanges like Coinbase and gdaxthe fees of Gemini are lower. Coinbase charges almost 1. Gdax charges only takers, and it has kept maker fee zero. The takers price varies depending upon volume traded. If the volume traded is too high, the fees are reduced gemini bitcoin exchange reviews 0. Gemini has a very detailed and in-depth section of FAQs in which the users can find answers to all kinds of queries. They also have very active customer support executives who will respond typically in a couple hours, when you send them an email.
Their gemini bitcoin exchange reviews support responses used to be quick, but recently the users have been complaining about delays and no-replies, which gemini bitcoin exchange reviews ideal. Gemini must improve is technical issues that it continues to run into when overloaded with traffic. Gemini is undoubtedly one of the most popular cryptocurrency exchanges operating in the US, but if we talk about the global level, its reach is nowhere near to the likes of BittrexBinance and Bitfinex.
It is secure and safe, and they have offline reserves for storing the gemini bitcoin exchange reviews, which makes them a completely reliable wallet, but is certainly room for improvement.
They must focus on enhancing their customer support, followed by adding more cryptocurrencies to their system. But a big problem to resolve is the way the website reacts to increased traffic.
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