Gemini review
Gemini is the regulatory heavyweight of the US exchanges. Founded in 2014 by Cameron and Tyler Winklevoss, it operates through Gemini Trust Company, a limited-purpose trust company chartered by the New York Department of Financial Services in October 2015, which is why it serves every US state including New York, the state most platforms sit out. It was among the first exchanges to complete both SOC 1 Type 2 and SOC 2 Type 2 examinations, and the exchange itself has never suffered a major hack.
The blemish on the record is Gemini Earn, the lending program frozen in November 2022 when its partner Genesis collapsed. The story ended better than most: Earn users received their digital assets back in kind through May and June 2024, roughly 232% of the dollar value at the time of the freeze, alongside a $37 million NYDFS penalty and a $40 million contribution from Gemini. The SEC's related lawsuit was dismissed with prejudice in January 2026, and the company listed on Nasdaq as GEMI in September 2025, raising about $425 million.
The trade-off is price. Instant buys on the web and mobile interface carry a convenience fee of roughly half a percent plus a flat transaction fee, which is more than Kraken Pro or Binance.US charge. ActiveTrader, its volume-tiered maker and taker interface, is far cheaper and the right place for anything beyond pocket-size orders. Funding covers ACH, wire, debit cards, Apple Pay, Google Pay, and PayPal, the broadest verified rail set of any US exchange we track.
- Founded
- 2014
- Headquarters
- New York, United States
- Fees
- Instant buys carry a convenience fee of about 0.5% plus a flat transaction fee. ActiveTrader uses volume-tiered maker and taker pricing that is far cheaper for anything beyond small orders.
- KYC
- Required
- Payment methods
- ACH transfer, Wire transfer, Credit or debit card, Apple Pay
- Status
- Operating
How you can pay on Gemini
Every deposit rail Gemini supports in at least one market. Which of them you can use depends on your country; the country guides below list the exact methods per market.
- ACH (United States)
- ACH transfer
- International wire
- Wire transfer
- Pay wallet
- Apple PayGoogle Pay
- Local e-wallet
- PayPal
As published by Gemini: ACH transfer (US), Wire transfer, Debit card, Apple Pay and Google Pay, PayPal.
Pros and cons
What works
- NYDFS trust charter since 2015, so it serves all 50 states including New York
- SOC 1 Type 2 and SOC 2 Type 2 examinations completed, with no major hack of the exchange itself
- The broadest verified US funding set we track: ACH, wire, debit card, Apple Pay, Google Pay, and PayPal
- A Nasdaq-listed public company since September 2025, with the disclosure obligations that brings
What to watch
- Instant-buy pricing is among the highest of the major US exchanges; ActiveTrader is the only cheap way in
- The Earn program froze customer assets for about eighteen months in 2022 to 2024, even though users were made whole in kind
Fees in detail
- maker
- Volume-tiered on ActiveTrader, falling with 30-day volume
- taker
- Volume-tiered on ActiveTrader, falling with 30-day volume
- spread note
- Instant buys on web and mobile include a convenience fee of roughly 0.5% plus a flat transaction fee; use ActiveTrader for the published maker and taker rates.
- deposit note
- ACH deposits are free; debit card, Apple Pay, Google Pay, and PayPal deposits carry processing fees.
- withdrawal note
- Bitcoin withdrawals carry a network-based fee; fiat withdrawals by ACH are free, wires vary by bank.
Where we recommend Gemini
Countries where Gemini ranks in our local guide. Availability beyond these is possible but unverified by us.
United StatesFrequently asked questions
Can I use Gemini in New York?
Yes. Gemini operates through a New York trust company chartered by the NYDFS in 2015, so New York is its home turf rather than an excluded state. It serves all 50 states and the District of Columbia.
Has Gemini ever been hacked?
The exchange itself has not suffered a major hack, and it completes SOC 1 Type 2 and SOC 2 Type 2 examinations. Its worst episode was the Earn lending program freezing in November 2022 when Genesis collapsed; users received their assets back in kind by mid-2024.
What happened to Gemini Earn?
Earn users were frozen out in November 2022 when the lending partner Genesis failed. Through May and June 2024 they received their digital assets back in kind, roughly 232% of the value at the freeze, and Gemini paid a $37 million NYDFS penalty plus a $40 million contribution. The SEC's related case was dismissed with prejudice in January 2026.
What is the cheapest way to buy bitcoin on Gemini?
Use ActiveTrader, the volume-tiered maker and taker interface. The instant-buy flow on web and mobile adds a convenience fee of roughly half a percent plus a flat transaction fee, which is the expensive path.