The Forex and CFD broker, which was founded in 2006, offers margin trading for more than 15 cryptocurrencies through a user friendly and intuitive web-based platform. We have listed some of the main disadvantages of Gemini:ĮToro is one of the world's leading social trading platform with more than 4.5 million members. The US-Based crypto exchange has mixed reviews for a reason (the exchange has poor reviews on TrustPilot). There are some notable flaws in the Gemini exchange. Gemini is regulated by the New York State Department of Financial Services (NYSDFS) and is the first-ever licensed ether and Zcash exchange. This exchange is suitable for those who are interested in exchanging large amounts of fiat currency and but one of the top five cryptocurrencies offered by Gemini. Gemini has based its product on the needs of clients who want to find a secure cryptocurrency platform. However, the truth must be said, the Gemini platform (including the Gemini ActiveTrader) is not really a trading dashboard where you can execute a large number of trades. Gemini was specifically designed as a web-based platform that enables users to buy and sell digital assets and, if necessary, to store these cryptocurrencies on its own built-in electronic wallet.Īnd yet, with all the benefits that the exchange has to offer, there are some Gemini alternatives that enable traders a much more effective way to trade cryptocurrencies. Think of it as Coinbase Pro without needing a separate app/website.Gemini has gained popularity since its launch and now has a market cap of over $26 million, counting with a large user base around the word. This gives you a more advanced trading interface and gives you the lowest fees. Go to account settings and scroll down to Trading Interface. How to get the low fees with ActiveTrader? It's simple. I just buy BTC and send it my exchange of choice. Then you can buy $100 of ETH and immediately move that ETH to another wallet without waiting. Example: Leave $100 of BTC on your Gemini Wallet. Workaround: Keep a small amount of crypto/fiat on Gemini to prevent the hold. Newly transferred funds from your bank account can't be transferred for a few days. ( Workaround: use your phone's web browser to access the Gemini desktop site) I only use the mobile app for checking balances or sending money to another exchange/wallet. You can still make wallet transfers for free. There is a standard Gemini app, but it has the high trading fees. Fees for the normal Gemini are 1.5% for buys over $200 or a fixed fee under of up to $3 for anything less. Must use select the ActiveTrader interface in your settings (see below), or else you will get hit with high trading fees. + Available in most US states and 60+ countries. + Instantly transfer money from your bank to buy crypto. Fees for most traders are 0.10% (maker) to 0.35% (taker). + Relatively low fees (but you must select ActiveTrader in your settings! See below). This is the biggest advantage of Gemini, and the primary reason why I ditched Coinbase. Seriously you could buy $1 of ETH, send it to your cold wallet, and still pay zero transfer fees. Gemini has low trading fees (0.10~0.35%), but you must select Gemini ActiveTrader. TL DR - Buy crypto on Gemini, and then send to any wallet for zero transaction fees (10x/month). Since Gemini gives you 10 free transfers a month, you can send your crypto to any exchange, or DCA small amounts into your cold wallet without getting ravaged with transfer fees. I'm not affiliated with them in any way, but Gemini has become my preferred method for turning that dirty fiat into sweet sweet crypto. r/CryptoCurrencyMemes r/CryptoCurrency_Tech r/CryptoMarkets r/CryptoRecruiting r/Best_of_Crypto r/BitcoinMarkets r/BitcoinMining r/CryptoTrade r/Ethfinance r/EthTrader r/Jobs4Crypto r/Liberland r/NFT r/OpenBazaar r/GPUminingĮveryone talks about Coinbase Pro, but I never see Gemini mentioned here. Mastering Ethereum (Open Source book) Exchanges IBM's ZeroToBlockchain (Free learning resources) See our Expanded Rules page for more detailsĬoinMarketCap (Cryptocurrency market cap info)ġ0k.pizza (Portfolio tracking.See our Expanded Rules page for more details about this rule.This includes "PM for referral", asking for referral codes or links, and linking to sites used solely for referral links. Rule #2.10 - Posting referral, promo links, or codes of any kind is strictly prohibited and will be met with a long-term or permanent ban.See our Expanded Rules wiki page for more details about this rule.If you meet our requirements and want custom flair, click here. Please make quality contributions and follow the rules for posting. This subreddit is intended for open discussions on all subjects related to emerging crypto-currencies or crypto-assets. Be nice to each other! r/CryptoCurrency is a welcoming place for all people and all cryptocurrencies.
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