What is Gemini
Gemini is an absolutely regulated cryptocurrency exchange. It is located in New York and is available either to individuals and organizations.At this moment, the exchange is completely regulated by the government. The amount of this current stock is rapidly growing day by day as well as trading volume is dounbles every second day.
Where is Gemini Located
The exchange is located in the USA. It started to operate in 2015 after getting approval from the State Department of Financial Services of New York. The owners are Cameron and Tyler Winklevoss. They set a goal from the very beginning to create the digital cryptocurrency exchange completely regulated worldwide. At this moment, the platform is fully accessible from these countries:
- USA (except Alaska, Arizona, Oregon and Wisconsin)
- Hong Kong
- South Korea
- United Kingdom
The exchange lets its users to deposit and withdraw dollars directly. To make this, you need to set up your bank account when registering on the website. Gemini doesn’t take comissions for deposits or withdrawals though some banks could take several fees for making transactions. The exchange works only with two main cryptocurrencies which are Bitcoin and Ethereum. This is why only three trading pairs are available:
You can trade any time 7 days a week. The work stops only during technical issues or troubleshooting. The platform is always warns the customers about this kind of problems.
Private traders and organizational ones create different accounts on the platform. In the first case, you just need to mention your name, e-mail and password. You will receive an activation code. Just enter it in the appropriate line to confirm your e-mail. Registering as an organization is way more complicated. You will have to enter the following information:
- the name of the company
- your area of work
- legal address of the company
To start trading you will have to confirm your identity and your address. Complete all the information and add scans of your documents. Note that you can only do this if you are a resident of the countries where platform is available.
Gemini doesn’t take fees from the most of the operations and provides comfortable limits on the operations for individuals and organizations. Specific transactions are available for several organizations with unlimited balances. There are some cryptocurrency trading fees applied.
Is Gemini Safe?
Safe work is top priority of the exchange founders. Cem Paya, who worked at Airbnb security department previously and also took part in the creation of Google Wallet, is responsible for safety in Gemini. There are 4 key levels of security that make Gemini a safe place to trade. Multisignature is an integral part of the blockchain technology. It increases the safety of transactions. With cold storage, the biggest part of money is kept on the devices not connected to the web. Meanwhile they are located in different parts of the country. This is called geographical distribution. Regarding user accounts, multi-factor authentication is mandatory during registering process.