Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.
- Gemini offers cryptocurrencies, interest-bearing perks, and more for both individuals and institutions.
- It doesn’t have an account minimum, but it charges different fees for web and mobile orders.
- Gemini also offers a separate Active Trader platform for more advanced cryptocurrency traders.
- Click here to set up an account with Gemini.
Legally known as Gemini Trust Company, LLC, Gemini is a cryptocurrency exchange offering trading and storage options for individuals and institutions.
Among Gemini’s offerings are interest-bearing account perks (allowing you to earn a high APY on certain cryptocurrencies), online and offline storage options, and the ability to pay with crypto at select retailers. The exchange also prides itself on being the only cryptocurrency exchange to offer interest-bearing account options to traders in all US states.
Founded in 2014 by Cameron and Tyler Winklevoss, Gemini says it abides by a “security-first” mentality and belief system of asking for permission, not forgiveness.
The mobile app is available on iOS, Android, and Galaxy devices.
Both Gemini and SoFi share the $0 minimum account options, but the two investment platforms vary when it comes to fees, account features, and cryptocurrency selection. SoFi charges a 1.25% markup (this amount is added to each crypto purchase) on transactions, while Gemini’s web transaction fees range from $1.50 to $4.50 (and larger transactions carry higher fees).
Gemini also has a separate fee schedule for mobile transactions. Transaction fees for mobile orders range from $0.99 to $2.99. You can find the complete fee schedule here.
Binance.US has a slightly higher minimum than Gemini and SoFi, but this exchange gives you access to more than 50 cryptocurrencies. And if you make deposits through wire or ACH transfer, you’ll only have to pay 0.1% or 0.5% for transactions.
If you’re interested in Gemini, though, keep reading to learn more.
Cryptocurrencies and ERC-20 tokens
Gemini’s crypto selection isn’t as vast as many of its competitors. It offers the following assets: Bitcoin,…
Read More: Pros, Cons, and Who Should Set up an Account