You should consider using Gemini Exchange if you are looking to invest or trade in cryptocurrency. It has advanced-level security features and a hot wallet, perfect for new investors and professionals. This exchange is an ideal choice for everyone. It is even recommended by the existing users that everyone should give this platform a try.
In this blog, we are aiming to give you all the information as to why you should use it and what are the reasons that make it different from other exchanges.
Available Currencies on Gemini
You might think that just because the platform offers a lower number of cryptocurrencies than others, it is not compatible. Gemini Exchange has more than 100 assets listed on its platform. The number might seem small, but they listed all the popular coins here that every trader needs.
Buying, selling, and trading all the popular assets can be made here. The list of those available assets is:
- UniSwap (UNI)
- Bitcoin (BTC)
- USD Coin (USDC)
- Ethereum (ETH)
- Cardano (ADO)
- Dogecoin (DOGE)
- Gemini Dollar (GUSD)
Security functions
The platform has some excellent security features such as enabling 2-factor authentication, whitelisting wallet address, and an option to view when you have logged in to your account and at what time. But to start using these security features, we the user will first have to first complete his KYC verification procedure. The KYC completion mainly involves uploading any document that confirms your identity, which has been authorized by the government itself. Usually, the said document is the user's Social Security Number. Completing of KYC process has become mandatory to minimize the risk of someone being a fraud.
What is an Approved Address?
This is an additional feature of Gemini Exchange that basically means that it is a list that contains the names of all the known wallet addresses of your account. You can only transact with the addresses that are mentioned in the list. Do not jump to the conclusion that this feature will be enabled automatically to your account. Because it will surely not, as it is an optional function. A user will have to enable the said option himself from the settings option.
Once you have turned on the toggle button in the settings option to start using this feature, you will have to create a list of those wallet addresses that you want to be marked as approved. But before making up your mind about this feature, read all the security guidelines of it. And only if you agree with them, proceed towards continuing with the process.
Final Thoughts
The ones who are looking for a platform that is user-friendly, a simple interface that is easy to navigate, and a simple process to buy or sell, then Gemini Exchange is the one for you. Although the fee structure of the platform is quite intimidating, at least they are not hiding their fees. So at the time of the transaction, you will not get a surprise about any additional fee being charged, unlike other platforms.