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Gemini is the exchange founded by Cameron and Tyler Winklevoss in New York in 2014, and it has always sold itself on regulation first. Our verdict: a well-supervised place to hold bitcoin, and a fair one to buy on if you use its ActiveTrader screen, but its simple buy mode is one of the costliest around and the company has had a rough couple of years.
| Founded | 2014 |
|---|---|
| Based in | New York City, New York, USA |
| Coins | Roughly 100+ cryptocurrencies (125 listed as tradable in May 2026), plus US stocks and ETFs |
| Fees | ActiveTrader 0.60% maker / 1.20% taker at the entry tier; simple Gemini Mode buys carry an unpublished fee plus a spread; ACH free, debit card 3.49%, USD wire withdrawal $25 |
| Custody | Custodial (Gemini Trust Company, a New York-chartered qualified custodian); withdraw to your own wallet with a network-based fee |
| Best for | US buyers who prioritize a New York-regulated, audited custodian and are willing to learn ActiveTrader |
Compare Gemini side by side with other exchanges
What it is
Gemini Trust Company is a limited-purpose trust chartered by the New York Department of Financial Services. In plain terms, it is supervised like a bank-style custodian rather than a plain tech company. The parent, Gemini Space Station, went public on the Nasdaq in September 2025 under the ticker GEMI. Tyler Winklevoss is CEO; Cameron is president.
Gemini lists roughly 100 cryptocurrencies (125 marked tradable in its May 2026 disclosure), and in July 2026 it added commission-free US stock and ETF trading. It also runs a crypto-rewards credit card and, since December 2025, regulated prediction markets. In 2026 it closed its UK, European and Australian retail accounts to focus on the US.
There are two trading modes: “Gemini Mode,” the simple screen in the app, and ActiveTrader, an order-book interface with published fees.
Fees
ActiveTrader uses maker and taker fees. A maker order waits on the book at your price; a taker order fills immediately against someone else’s. The simple mode instead quotes you a price that already includes a spread (a markup) and then adds a transaction fee on top.
| Item (as of 2026) | Cost |
|---|---|
| ActiveTrader, entry tier (under $10,000 in 30 days) | 0.60% maker / 1.20% taker |
| ActiveTrader, $25,000+ in 30 days | 0.25% maker / 0.50% taker, falling further with volume |
| Gemini Mode (simple buy) | Spread plus a fee; no rates published |
| ACH deposit or withdrawal | Free |
| Debit card deposit | 3.49% |
| PayPal deposit | 2.50% |
| USD wire withdrawal | $25 |
| Bitcoin withdrawal | Network fee, shown before you confirm |
The catch is Gemini Mode. Gemini’s official schedule says the fee “may be influenced by” your payment method, order size and location, and shows it only on the review screen. Independent tests in 2026 found the all-in cost of a simple buy can exceed 2%. ActiveTrader’s 1.20% entry taker fee is not cheap either; place limit orders to pay the 0.60% maker rate instead.
Buying bitcoin step by step
- Register with your email and create a strong password.
- Complete identity verification with a photo ID and your address.
- Enable two-factor authentication. Gemini supports authenticator apps and hardware security keys.
- Link your bank and deposit dollars by ACH. It is free; skip the debit card and its 3.49% fee.
- Switch to ActiveTrader (in the app menu or on the web), open BTC/USD, and place a limit order slightly below the current price to pay the maker rate.
- Withdraw to your own wallet from the Transfer menu. Gemini quotes the network fee before you confirm and asks you to approve new addresses.
Security and trust
Custody and audits
Gemini has never suffered a known hack of its exchange systems. It states that customer funds are held one-to-one, and it has completed SOC 1 and SOC 2 Type 2 audits by Deloitte every year since 2019 plus ISO 27001 certification. Two vendor incidents leaked customer contact and bank details in 2022 and 2024, with no reported loss of funds.
The Earn collapse
The big blemish is Gemini Earn, a program that paid interest by lending customers’ crypto to a firm called Genesis. When Genesis failed in November 2022, about $940 million belonging to roughly 340,000 Earn users was frozen. In February 2024 New York regulators fined Gemini $37 million for weak oversight of Genesis, and Gemini agreed to return at least $1.1 billion; Earn customers were repaid in full, in kind, by mid-2024. The SEC’s own Earn case was dismissed in January 2026.
Separately, Gemini paid a $5 million CFTC penalty in January 2025 over statements made in 2017; in May 2026 the CFTC itself asked the court to vacate that order.
The company today
Since its IPO Gemini has reported large losses, cut around 30% of staff in early 2026, and seen its COO, CFO and chief legal officer leave. Its share price fell more than 80% from the $28 offering price by September 2026. None of that touches how customer bitcoin is held, but it is worth knowing.
Pros and cons
Pros
- New York trust charter, annual Deloitte audits, and one-to-one holding of customer funds.
- Free ACH deposits and withdrawals.
- Available to New Yorkers, unlike Kraken, River or Crypto.com.
Cons
- Simple-mode pricing is unpublished and can total more than 2%.
- Card buys cost 3.49% and wire withdrawals $25.
- The Earn episode and post-IPO turmoil show a company that has taken real risks with its reputation.
Who it’s for
Gemini fits a cautious buyer, especially one in New York, who wants a custodian supervised by state banking regulators and is willing to use ActiveTrader with limit orders. It is a poor fit if you will only ever tap the simple Buy button; you will pay far more than on the Pro screens at Kraken or Coinbase, or on the flat-fee bitcoin-only apps.
Whatever you choose, plan to move your bitcoin to your own wallet once you are comfortable. This is education, not financial or tax advice.
Next
- How to buy bitcoin: the complete beginner process.
- Compare all the exchanges.
- Wallets and self-custody: holding your own keys.