Bank wire, Crypto
When most people hear Gemini, probably what comes to mind is the Zodiac sign that shows a pair of twins, Castor and Pollux. In the crypto world, Gemini is a “retail outlet” for digital coins, a famed platform for trading digital currencies. Trades on Gemini submit orders for digital assets they wish to own.
The Co-creators of Facebook – Tyler and Cameron Winklevoss – were behind the Gemini’s innovation back in 2015. Although Gemini entered the game later than Coinbase, it has overshadowed many industry players and made a name for itself. Those who love to trade on Gemini like it because of the friendly fees, top-ranking security, and the unrivaled competition.
Deposit method used
At Gemini, they accept three deposit methods:
Unlike Coinbase, debit cards are not an option. Also, wire transfers can only be done in USD. On the bright side, you get to link multiple bank accounts, and both BTC and USD deposits are instant – you can begin to transact immediately after depositing funds.
At Gemini, the fees charged are straightforward – that means there are no hidden fees, and the applicable fees are explicitly explained. Deposits are free at Gemini. If your trading volume falls below 5K for BTC and 100K for ether, you pay 0.25% fee – this is applicable during the trial period, which is 30 days. As you increase your trading volume, the fees considerably reduce. The fees can reduce to as low as 0.1% if you exceed the 5K trading volume limit on your trial period. Gemini has friendly fees, and it is best suitable for the trader who deals with a huge volume. If you are transacting more on Coinbase, in contrast, you would pay more in fees.
On Gemini, your purchase limit will depend on how much your account can hold at any given time - essentially, the deposit method you choose will determine how much your trading limit.
The deposit limit for Bank transfers looks like this, and it will depend on the account type:
Wire transfers have no limits for deposits but the minimum you can withdraw is $100. Digital assets also do not have limits.
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