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What is Gemini Exchange?
Since its launch in 2014, Gemini is a crypto exchange platform that has been predominantly touted for its security. As of late, however, lots of reviews have been downgraded due to poor customer support and account resolution issues.
Each Gemini account comes with a hot wallet and enables buying, selling, and trading crypto. Users can also acquire a crypto debit card that offers up to 3% back in bitcoin (or other cryptos) or cash on every purchase.
As far as we are aware, Gemini has never been hacked, which is a testament to its top-notch security. It’s a straightforward platform that is easy to use and puts data protection at the highest level.
Gemini Company Overview
In 2014, Cameron and Tyler Winklevoss developed the Gemini exchange platform. The two creators could never find a crypto wallet or a crypto exchange that met their security needs, so they decided to create one themselves. This is what ultimately set Gemini apart from other crypto exchanges.
Since then, the Gemini exchange has received millions of users all over the world. They are also one of the few crypto exchanges/wallets to accept US citizens from all 50 states.
Gemini’s advanced security features led it to become the first-ever crypto exchange to receive the SOC 2 certificate for excellent security. Gemini is also one of the few crypto businesses that regularly undergo regular bank exams. These exams and audits are done by the New York Department of Financial Services. In the world of online gambling, having a well-protected crypto exchange and crypto wallet is invaluable.
Pros and Cons of Gemini
- Only supports about 100 cryptocurrencies
- High trading fees
- Lousy customer support
How to Create a Gemini Account?
To create a Gemini account, follow these simple steps:
- Visit the official website and select [Get Started]
- Pick your country/state and select [Continue]
- Fill out your personal details and pick a strong password
- Select [Create My Account]
- Pass the 2-minute security quiz to complete the sign-up process
Optional: Set up 2FA (Two-factor authentication)
US citizens: Enter your Social Security number and date of birth
After the sign-up process, you can fund your account and go through the KYC check-up procedure. Depending on the payment method you choose, you can either have more or fewer KYC requirements. For example, US citizens who directly link their bank account have fewer KYC checkups than those who use a different payment method.
Using Gemini in Online Casinos
Gemini works great with online casinos. While it functions just like all other exchange websites, the accessibility and the security it provides can be a real game changer for players.
Firstly, Gemini is really friendly with new crypto casino players by offering a really easy-to-use platform. Buying, selling, and trading cryptocurrency is very straightforward with the Gemini exchange.
Secondly, Gemini offers some great security features – the most useful being the hot-wallet insurance features. Should a player’s crypto account get compromised/hacked, Gemini is obliged to reimburse all the funds that got taken from the player’s account.
The downside to this is that Gemini tends to have higher fees than most other crypto exchanges but we believe that the benefits outweigh this disadvantage. Casino players who apply for a Gemini credit card can also visit fiat casinos and earn crypto rewards for using their cards.
Gemini Accepted Cryptocurrencies
Gemini accepts around 20 cryptocurrencies, which is not a lot compared to other crypto exchange platforms. This may explain why many crypto investors tend to stay away from Gemini.
With that said, each of their supported cryptocurrencies is covered by their trademark security system.
For online casinos, a Gemini account supports all the major cryptocurrencies found in crypto casinos. These include cryptos like:
PC and Mobile App
Gemini does not have a PC application for its exchange platform. Instead, users can simply use their browser of choice to login into their Gemini account and do all their crypto trading. Logging in through a browser is extremely simple and the account page can be easily navigated. This is a great method for users casino players who like to play their casino games on the PC and like to keep their crypto account in check at all times.
Most Gemini users prefer to use the Gemini mobile app because they can access the exchange and their wallet wherever they might be. The Gemini mobile app can be downloaded from both the PlayStore and the AppStore. Not only does the mobile app allow users to keep track of all their digital assets wherever they might be, but it also allows users to have an easier method of sending and receiving crypto funds.
For example, many online casinos will have a QR code for making deposits and withdrawals. Instead of entering the wallet address manually, users can simply scan the QR codes with their mobile app and directly send/receive funds.
The mobile app can also have extra security features such as fingerprint ID or Face ID recognition which is great for users who want even more security on their crypto exchange account.
Users who want to bring their crypto assets into the real world can apply for a Gemini Mastercard. This feature is available to all users who have assets on their Gemini accounts. Users can simply access their Gemini account (from the PC or through the mobile app) and navigate to the debit card section.
Users who apply will instantly get access to a virtual debit card with the option of getting a physical card as well.
With a Gemini Mastercard, casino players can even play at non-crypto casinos using their cryptocurrencies. This is a great feature because players won’t have to involve their bank accounts when visiting fiat-only casinos. Naturally, the Gemini Mastercard can also be used in casinos where Mastercards are accepted.
The entire reason why Gemini Exchange was created was to create a secure platform for buying and selling cryptocurrencies. While the exchange provides all the standard security features that all other crypto exchanges do, there is also a hot-wallet insurance feature.
With this feature, if hackers actually break through Gemini defenses and steal your assets, the exchange will actually return all your assets back to you. We cannot stress how happy we are with this feature, especially with so many shady crypto websites out there.
One of the cons of having a Gemini exchange account is the high transaction fees. When compared to other crypto exchanges, Gemini isn’t the most generous when it comes to fees. The idea is that the more you spend, the less your fees get, however, you would have to spend quite a bit to get to standard trading fees.
Users who spend less than $500,000 in trading (during a 30-day period) will get a tracker fee of 0.35% per transaction and Marker and Auction Fees of 0.25% per transaction. These get lower if you go over the $500,000 mark but it’s still much higher than other crypto exchanges.
Gemini Customer Support
Customer support is another aspect where Gemini falls short. The platform offers a lengthy FAQ section and chatbot support. Just like many other crypto exchanges, Gemini does not offer direct customer support (no live chat with actual human beings and no direct phone support).
Because of this, many users are dissatisfied with how this cryptocurrency exchange platform handles customer disputes.
What users like
Users really like the added security benefits and how easy it is to use the Gemini platform. Many are relieved that their hot-wallet funds are secured. Advanced users also find the addition of investing and staking to be a great feature of an, otherwise, beginner-friendly crypto exchange platform.
What users dislike
Users dislike the lack of customer support. Many users have left the platform because they ran into issues that Gemini couldn’t/refused to address. Users also don’t like how the platform only supports around 100 cryptocurrencies when compared to other platforms.
Gemini Review Summary
Gemini is a pretty good crypto exchange platform for online gambling. If you are looking for an easy-to-setup and use platform to get into crypto gambling, this is a great pick. Yes, there are a few shortcomings but the added security should make up for what the platform lacks. Thank you for reading our review!
Is Gemini safe?
Yes, Gemini is one of the safest crypto exchange platforms on the market. Not only does it offer standard security features but it also offers hot-wallet insurance, something that many other crypto exchange platforms don’t.
Is Gemini good for online casinos?
Yes, Gemini is good for online casinos. If you are looking for an easy-to-use crypto exchange platform with an extra layer of security, Gemini is a pretty good pick.
Is Gemini available in my country/region?
Gemini is available in all 50 US states as well as 60 other countries.
Is Gemini Exchange better than Coinbase?
Overall, Coinbase has a slight edge, especially since it’s available in more countries and offers more currencies. Gemini supports institutional investors, whereas Coinbase rewards users with crypto while learning about trading.