Gemini, found online at Gemini.com, is a digital asset platform for businesses and investors. Find out everything you need to know about Gemini in our review.
What is Gemini?
Gemini is a digital asset platform that lets you buy, sell, and store Bitcoin and Ether while enjoying benefits like superior trading features, security, and regulatory oversight. It’s a popular exchange for businesses and investors. You can open a personal account or register as an institution.
Gemini is based in New York. The company was founded in 2014. Today, Gemini is particularly popular for its two-sided auctions, which take place twice daily (one auction takes place at a time convenient for North American clients, and the other for Asian clients, although anyone can participate in either).
Gemini offers all of the following features:
Custody Services: Gemini is held to the highest level of capital reserve requirements and banking compliance standards. That means, just like an ordinary financial institution, they need to maintain a certain level of reserves based on their clients’ accounts.
Marketplace: Gemini lets you trade bitcoin and ether across three order books with six different order types, including daily two-sided bitcoin auctions.
Regulatory Oversight: Gemini was the first US exchange licensed for bitcoin and ether trading. The organization is regulated as a trust company by the New York State Department of Financial Services (NYSDFS).
Fund Security: Clients’ US dollar deposits are held at FDIC-insured banks. Meanwhile, the majority of clients’ digital assets are stored offline in proprietary cold storage systems.
Good Customer Service: Gemini offers customer service around the clock from real human beings – so “you’ll never receive an automated response or speak with an outsourced call center.”
Superior Trading Experience: Gemini’s maker-taker fee schedule offers fee discounts and rebates for high-volume traders, making it popular for institutional investors and high-volume individual investors. All deposits and withdrawals are processed free of charge.
Gemini Auction Data
Gemini is popular for its auctions, which take place daily at 4pm Eastern Time and 7pm Singapore/Hong Kong time. They take place every day, including weekends and holidays.
The two-sided auctions match buyers and sellers at a single moment of the day. It allows large and small participants to trade more efficiently and effectively without being subject to price fluctuations during the rest of the trading day.
Any registered Gemini user can participate in Gemini’s daily auctions. You can also view a list of upcoming auctions – and auctions that have taken place over the past few months. View auctions by their volume, their notional value in USD, and the price of BTC sold during that auction.
The reason Gemini’s auctions are “two-sided auctions” is because each of the order matching engines conducts two auctions or crosses every day (4pm ET and 7pm Singapore Time). This gives an opportunity for both buyers and sellers to trade in an instant of elevated liquidity and price discovery. Gemini actually uses a mechanism similar to the New York Stock Exchange’s Arca marketplace as well as the NASDAQ, Bats, and other large stock exchanges across Europe and Asia (this is also sometimes called the Walrasian equilibrium).
Gemini Order Types
Gemini offers all of the following order types:
Market Orders: Filled immediately against resting orders.
Limit: Filled at or more favorably than the specified price against resting orders. If a quantity remains unfilled, it rests on the continuous trading order book until traded against.
Immediate or Cancel (IOC): Just like a Limit Order, an IOC order is filled immediately at or more favorably than the specified price against resting orders. If any quantity cannot be filled, that remaining quantity is canceled and does not remain on the continuous trading order book.
Maker or Cancel (MOC): Similar to Limit Order, MOC orders rest on the continuous trading order book at the specified price. However, if any part of the order can trade against resting orders, it’s immediately canceled instead.
As mentioned above, Gemini conducts two high-volume auctions a day. These auctions give buyers and sellers a period of high liquidity where they can conduct trades more easily at their desired prices. The two auction order types include:
Auction-only (AO) Market: Attempts to be filled at any price only during the auction.
Auction-only (AO) Limit: Attempts to be filled at or more favorably than the specified price only during the auction.
Gemini Trust Company, LLC is the world’s first licensed bitcoin and ether exchange. The company is fully regulated and fully compliant. They’re regulated by the New York State Department of Financial Services (NYSDFS). They also abide by capital reserve requirements and banking compliance standards.
Gemini was founded in 2014. You can get in touch with the company at [email protected]
Gemini was named after its two founders, the Winklevoss twins (yes, the same twins that made headlines for their involvement with Facebook and Mark Zuckerberg). The exchange officially launched on August 10, 2015.
To sign up for Gemini, or to learn more about the trading platform, visit the exchange online today at Gemini.com.