If you are situated in the US and looking for a regulated exchange that will allow you to buy cryptocurrency using US dollars, then we’ve something for you. Gemini cryptocurrency exchange is among the top exchanges worldwide that let you trade in cryptocurrencies. It is also the first US exchange to get a license for crypto trading. Whether you are an advanced trader or a newbie, Gemini is a perfect fit for all. It has advanced trading tools as well as an easy to use interface that even lets beginners use the platform without getting confused.
Story Behind Gemini Cryptocurrency Exchange
Gemini is mostly known for its founders, the Winklevoss twins who once sued Mark Zuckerberg for stealing their idea of Facebook. The twins were among the first Bitcoin billionaires who had more than $11 million worth of Bitcoin by 2013. Gemini cryptocurrency exchange was launched later in 2015 and became the first regulated Bitcoin exchange in the US. This was the primary reason the platform got so much attention immediately and got the title among top cryptocurrency exchanges.
This was not the only reason the exchange earned so much attention, but it includes other factors such as appealing and intuitive interface, low fee on trading that varies between 0 to 0.25%. The more the volume of trades, the less the trading charges. So, we guess if you are here and reading this, you are already interested in trading on Gemini. Trading on Gemini exchange is as simple as ABC, but you will need some basic knowledge of cryptocurrency and trading before getting started with the procedure. If you still need help, use the step to step guide mentioned below to know how to buy.
How to Sign Up On Gemini?
Singing up on the Gemini exchange is straight forward. You would need to provide some necessary details like your full name, email address etc. To get started, visit the official website of Gemini first and hit the register button on the home page. Select whether you want to create an account for personal use or institutional use. Once, you select your option; you would have to fill up your details and provide them with your email address. After that, you need to verify your email by clicking on the link sent to your inbox. Your Gemini account is created as soon as you confirm your email and you can continue with the next step.
Provide your ID verification
Like most other exchanges, Gemini also requires ID verification for trading on the platform. You cannot take the benefits of its services without verifying yourself. But before you get started with the verification, we suggest you enable two-factor authentication first. You get the prompt to enable 2FA and provide your mobile number just after creating an account on Gemini. Two-factor authentication put a second layer of protection on your account to keep it safe from unauthorised access. Once you verify your mobile number and enable 2FA successfully, continue with your ID verification.
To verify your ID on Gemini cryptocurrency exchange, you need to provide some of your personal details like date of birth, home address and valid ID proof. After you submit all the necessary documents and details, the exchange will verify it and respond to your through email.
Deposit Funds into Your Gemini Cryptocurrency Exchange Account
To trade crypto on Gemini, at first you need to transfer funds into your account. Then you can use it for making your purchase or exchanging it for other cryptocurrencies. To know how to deposit funds into your account, follow the steps below:
- Go to Deposit into Exchange section and select Transfer Funds option.
- After that, you need to select the method of deposit, i.e. wire transfer, bank transfer or cryptocurrency.
- If you are depositing USD in your account, the best way is to use bank transfer. It lets you transfer the funds directly from your bank account, and the payment gets processed entirely within 3-4 days.
- However, if you want to transfer funds more than the Bank transfer (ACH) limit, you can use the wire transfer option. The method requires you to contact your bank and fill out some forms to use the option.
- The last option is to transfer cryptocurrency, which is the easiest, quickest and cheapest way of all. You can transfer your cryptocurrencies directly from your wallet to Gemini wallet. Make sure you only transfer the currencies that are supported on the platform because there’s no way to get them back once sent. To deposit Bitcoin or any other cryptocurrency into Gemini, scan the QR code or use your Gemini Bitcoin wallet address.
How To Trade On Gemini with USD?
Use the steps below to start trading on Gemini cryptocurrency exchange with your deposited currency.
- First of all, what you need to do is select the asset you want to trade from the list available on the platform. For example, if you’re going to buy Bitcoin, click on the Bitcoin option.
- Click on Buy and select recurring or once option.
- Enter the amount for which you want to trade.
- Hit the Review order button.
- On the next page, you will see the total amount of Bitcoins you are buying along with the trading fee.
- To continue with it, click on Place order option.
In case you are purchasing cryptocurrency using Bitcoins, you need to first put a request for the ActiveTrader user interface. Once you will get upgraded to the next tier, trade with cryptocurrency pairs.
We hope you’ve successfully bought cryptocurrencies from Gemini cryptocurrency exchange and made profits from it. In case you want to sell out your currencies, you can follow the same procedure and select “sell” instead of “buy” when asked. Once, you make profits and complete with your trading, it’s smart to withdraw your funds right away from your account. No matter how safe your exchange is, there’ are always chances of it to get hacked. So a smart trader would never keep their currencies in the exchange account.
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