Account setup and verification required the usual documentation:
I did not, however, have to submit a signed and dated photo which was nice.
How long does verification take?
It only took me 24 hours to get verified but I did see this warning after I submitted my info:
Yes — via Authy. I’m not sure if I just missed it, but it would be nice to be able to use Google Authenticator, or another 2FA option.
Yes – U.S. funds are eligible for FDIC insurance. Not sure if that’s some sort of legal workaround or just poor wording. Digital funds are not FDIC insured, however, the company is insured by a top-tier insurance company to protect against internal malfeasance.
Yes – the majority of digital assets are stored offline using cold storage.
Transfer Fees – 0 transfer fees to deposit or withdraw in crypto, wire, ACH, etc. However, banks may still charge a wire fee.
Trading Fees (Maker/Taker)
Gemini provides fairly detailed documentation on their fee structure, which is good given the complexity. Relatively speaking, their fees are very competitive and in most cases slightly less than other U.S. exchanges.
Gemini is the first U.S. exchange licensed for bitcoin and ether trading. And while several other exchanges fled New York regulation, Gemini embraced it. Today, they are a regulated trust company by the New York State Department of Financial Services, which will give them a significant advantage as U.S. regulators start to crack down on exchanges in the coming years.
Overall, Gemini is easy to use, provides good customer support and fair fees. They currently offer a super limited variety of trading pairs but there's decent liquidity for those pairs. Gemini delivers on their promise of security, liquidity, and trust.