Simple Guide for Gemini Exchange
The Gemini Exchange was founded in October 2015 by the Winklevoss twins, Cameron and Tyler Winklevoss, two of the largest holders of Bitcoins with a current valuation of over a billion dollars.
Gemini is overseen by the New York State Department of Financial Services (NYSDFS), which treats it as a trust company – meaning it serves both cryptocurrency traders and big-time institutional investors. Gemini is also the first US exchange to be officially licensed for both ether and bitcoin trading. Arguably the biggest benefit to using Gemini is the low fees which (for each the sender and receiver of trades) range from 0.00% to 0.25%, depending on your 30-day trading volume. Gemini has the lowest fees available and offers a convenient way to purchase Bitcoin or Ethereum.
Gemini Registration
Go to Gemini.com and click register.
Enter your full name, email address, and create a password.
After verifying your email address, it's necessary to:
Enter both your location and phone number
Add the bank account that you will make transfers to and from.
Upload your ID. In order to verify your account you are required to upload government issued forms of identification. This also allows its users to deposit, withdrawal, and trade in US Dollars. The verification time depends on the number of applications being processed and can take anywhere from a few to several days.
After this is done, the process is complete and you can move onto funding your account.
Making deposits
Once you’ve completed the sign-up process, you’re ready to load your account with funds.
First, click on Transfer Funds on the main menu bar. With Gemini, there are a two ways to put funds into your exchange account:
ACH deposit:
This is only available to users in the US. The cool thing about ACH deposits is that they are instant – you can begin trading with the funds right away. There is a hold on the funds when it comes to withdrawal, however. After 4-5 business days, the deposit will fully settle and you can withdraw those funds from your account.
Wire Transfer:
Wiring a deposit is more straightforward: because wire transfers are irreversible, you can begin trading and withdrawing the funds once Gemini receives the money. If you deposit before 3:00pm, your funds will be ready for trading the following business day with no holds for withdrawing.
Using an external bitcoin or ethereum wallet:
You can deposit either bitcoin or ether to your Gemini account, and it’s the same easy process for both cryptocurrencies. Simply select Deposit BTC or Deposit ETH, and Gemini will generate a deposit address for you.
Using an external bitcoin or ethereum wallet:
You can deposit either bitcoin or ether to your Gemini account, and it’s the same easy process for both cryptocurrencies. Simply select Deposit BTC or Deposit ETH, and Gemini will generate a deposit address for you.
If you’re using an ether or bitcoin wallet on your mobile device, you can simply initiate a transfer from your external wallet and scan the QR code that Gemini provides you. If you aren’t using a mobile device, just copy the bitcoin or ethereum address and paste it when your external wallet asks you where you want to send your digital currency.
The Gemini trading interface has a simplified design that makes learning how to place orders very easy. Simply select Buy on the main menu bar, and choose which cryptocurrency you want to purchase – and if you want to use USD, BTC or ETH to complete buy it.
Near the top of the screen, it shows you how much money you have in your account – both in USD value and bitcoin value to give you a more complete perspective before making trade.
To finish the purchase, just click Buy.
