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Gemini is a US based exchange that allows users to convert fiat to cryptocurrencies. The exchange was started by the Winklevoss brothers in 2016 and where the first licensed ETH Exchange. Gemini currently supports two cryptocurrencies, BTC and ETH.
Gemini does comply with AML/KYC compliance requirements which makes the process of setting up an account time consuming. Gemini’s process is relatively easy compared to other sites like Coinbase. Setting up an account and loading your banking information can take 1-4 business days depending on the volume of new users. Based on our experience it is easiest to setup your account on your computer.
To verify your information, Gemini will require the following information:
- E-mail address
- Phone Number
- Full Name
- Birth Date
- Address of Current Residence
- Taxpayer Identification Number (Social Security Number)
- Government Issued Identification
Once verified, you can upload funds one of two ways, each having their own restrictions. Below is a table with the information.
|Methods of Upload||Processing Times*||Fee’s||Daily Limits||Monthly Limits|
|ACH||4-5 Days||Free (USD)||$500||$15,000|
|Wire||1-2 Days||Free (USD)||$500||$15,000|
For a complete list of fiat currency it accepts and countries it services, click here.
Unique Features about Gemini
- Ease of Use – Gemini is much easier to use and set-up compared to Coinbase and is much less confusing to use.
- Customer Service – Gemini gets back to their customers within 24 hours.
Drawbacks of Gemini
- Does not have a phone application.
- Limited access to the hundred’s of other cryptocurrencies available.
- Limited to daily deposits versus higher weekly deposits.
Additional Links for Gemini