Gemini Cryptocurrency Exchange Overview: Features

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Gemini reviews and review of the official website of the exchange

Gemini cryptocurrency exchange began its activities in 2015 in the United States. The founders are the Winklevoss brothers, who, when creating, were guided by the best cryptocurrency exchanges and made Gemini a fully regulated international exchange. The exchange began to work after the New York State Department of Financial Services approved such activities.
The exchange works with private traders and institutional investors.
The exchange interface is available only in English, as it is designed for large players from developed countries (USA, Canada, Hong Kong, Singapore, South Korea, Great Britain).

It is noteworthy that Gemini was the first to launch BTC on the Winkdex bitcoin index.
Deposits are credited to the exchange account instantly, without waiting for confirmation of the record of transfers to the blockchain.

The brothers created infrastructure at the institutional level. As a New York trust company, they are licensed to provide digital asset swap and custody services.

The exchange is fiduciary and takes into account capital reserve requirements, cybersecurity requirements, and banking compliance standards set by the New York State Department of Financial Services and New York banking law.

Germini Market holds auctions for specific trading pairs every day (including weekends and holidays), which contribute to increased liquidity and price discovery.

Connectivity options satisfy the needs of all traders. These include REST, WebSockets, and FIX through cross-connect from Equinix NY4 or NY5 data centers. You can use these protocols to access public market data, as well as closed trading sessions.

A real-time tariff chart, a dynamic collector-developer provides a transparent and incentive-based trading experience.

Deposit accounts meet the needs of large and active traders who are looking for a safe place to store digital assets before and after the transaction.

Segregated custody accounts are ideal for institutional clients, such as hedge funds, mutual funds and exchange-traded funds, which may legally need to keep their digital assets with a licensed custodian such as Germini.

All deposits in US dollars are held in banks insured by the FDIC. Most digital assets are stored offline in a proprietary Cold Storage system.

Germini serves a diverse range of clients, including individuals, institutions, algorithmic traders, private traders, market makers, investment companies, hedge funds and various digital asset enterprises.

 Registration and Verification

For private traders and institutional investors, different accounts are created on the exchange. First you need to specify the name mail and password. Next, enter the activation code that came in the mail.

After that, the account registration process starts. To do this, enter your location and phone number. Connect two-phase authentication, so that every time you log into your account, an SMS with a code will come. Next, a bank account is added and the moment of verification comes. You must download a scan of your passport. For organizations, you will additionally need to enter all the information about the company, legal address, TIN, company name, position, home address. Only residents of those countries where the exchange operates can register.

 Methods of depositing and withdrawing funds

You can deposit funds on a deposit of the exchange only in dollars by bank transfer. To do this, go to the Transfer Funds menu and go to the Bank Transfer tab. Then indicate the amount of transfer. You can not transfer to the account more than $ 500.
Bank transfer for withdrawal of funds is 100 thousand dollars a day.

Trading on the Gemini Exchange

Gemini only works with Bitcoin and Ethereum. To purchase one of these cryptocurrencies, you need to select the appropriate pair in the list and click Buy. Then enter the value and quantity of the currency you are buying. You can also place a market order, which is filled instantly.

There are such types of orders on the exchange:

  • Market – an order at a market price;
  • Limit – the trader is waiting for the order to be executed at a fixed price;
  • Maker-or-Cancel (MOC) – an order is executed at the last price upon completion of trading;
  • Immediate-or-Cancel (IOC) – an order is either immediately executed or canceled.

The exchange operates around the clock seven days a week.

Commissions

The exchange does not charge a commission for depositing and withdrawing funds. Banks can only withdraw a certain percentage when transferring dollars from a bank account to a deposit on the exchange.

Fees in the amount of 0.25% are paid for trading on the exchange.

Auctions

The exchange holds bilateral auctions every day. To participate, you must enter a special auction market or limit orders.

Orders have a price that most participants agree to. Shortly before the opening of the auction, orders are transferred to the exchange. New prices are constantly calculated, and participants monitor the value of currencies and either raise their rates or exit the game.

Investors have the opportunity to purchase large volumes of Bitcoins or Ether for dollars. Thanks to auctions, the trading volume of the exchange is increasing at fair prices.

 Funds security

The creators of the exchange took great care of the safety of funds. At the moment, it is the safest exchange in the world.

  • All funds are stored in cold storage. The Cold Storage system provides two levels of offline storage called cold and cryo for increased security.
  • Used by HSMs who have reached the FIPS PUB 140-2 Level 3 (or higher) rating.
  • All cold and cryo-private keys are generated, stored and managed on board the HSM for the entire life of the key.
  • In addition, the exchange uses Multi-Signature technology to protect against hacker attacks, as well as the inability to access a key or object.
  • All HSMs are stored in secure, access-controlled facilities that are geographically distributed.
  • Equipment is supplied from different manufacturers to protect against supply chain risks.
  • All transfers of funds require the coordinated actions of several employees.
  • Account authentication consists of two steps. A message arrives on the phone with a code that must be specified when entering the account.

Gemini is a reliable, secure service for buying Bitcoin and Ethereum. It complies with all legal standards, but unfortunately, it does not work in all countries. If you are a Russian-speaking resident of one of the countries where the exchange operates and actively trade on it, we will be grateful if you share your impressions about Gemini in the comments.

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