EST 5'000 BTC
Gemini is one of the prominent exchange platforms for digital currencies. Gemini is a next-generation digital currency exchange platform founded by the Winklevoss twins Cameron and Tyler in 2015. It is the world’s first licensed cryptocurrency exchange. It offers you the appropriate avenue to buy, store and exchange a large amount of Bitcoin and other digital assets in a secured, reliable and regulated fashion.
Gemini was created to accommodate the conventional currency and the cryptocurrency. It allows users to buy, store and sell cryptocurrencies in exchange using Fiat currencies. Bitcoins can also be exchanged for Ether. In order to carry out an exchange on Gemini, you have to create an account and add your bank and get verified. Upon verification, which takes one to three days, you will initiate the transfer of Fiat currencies from your bank account. This is done through an Automated Clearing House (ACH) transfer. These funds can be used to purchase Ethereum and Bitcoin instantly.
Gemini was launched in the United States of America in 2015 and since then, has widened its operations into Asia (Hong Kong, Japan, South Korea, Singapore etc) and Europe( the UK). There is no law in its countries of operation that prevents its usage. Therefore, users are liable to use it to perform digital asset exchange.
This is because of the Gemini’s ability to embrace regulations and comply with the banking standards that set it apart from other exchanges and makes it a licensed and authentic cryptocurrency exchange. It also accepts wire transfers but this service is specifically meant for users based in the USA. The U.S. Bank Secrecy Act (BSA) and anti-money laundering (AML) rules guide it. Users are eligible for an insurance coverage from the Federal Deposit Insurance Corporation (FDIC).
The Gemini exchange fees are among the lowest among the cryptocurrency exchanges. The exchange fees range from 0.00% to 0.25%. There is no withdrawal fee attached to making a withdrawal. It is totally free. There are also no fees attracted for depositing USA currency through an ACH deposit or wire transfer. These make it a suitable platform to save costs associated with cryptocurrency exchanges.
Users can deposit as high as $500 per day or $15,000 per month. Businesses or institutions can deposit Fiat currencies as much as $10,000 per day and $300,000 per month. Both individuals and businesses can withdraw $10,000 per day and $100,000 per month.
Gemini does not accept credit cards for the transfer of Fiat currencies. In order to fund your Gemini account for the purchase of cryptocurrencies, you have to initiate the transfer with an ACH deposit. There has never been any recorded attempt of hack into the platform. The verification process takes an ample of time (two to three days) and the customer care system is slowly responsive.
Gemini is one of the safest and most reliable cryptocurrency exchanges around. There are growing efforts to counter any posing threat to it. It safe, cheap, regulated and reliable to use.