Gemini Crypto Exchange Singapore 2024

Gemini is an online cryptocurrency exchange headquartered in New York City, co-founded by the Winklevoss twins, Cameron Winklevoss and Tyler Winklevoss.

Gemini is an online cryptocurrency exchange – meaning it helps buyers match sellers on the platform. Gemini comes in 3 versions – a regular website exchange, a pro version called ActiveTrader, and a mobile app.

Gemini has an easy-to-user interface that's suitable for beginners, and an array of features such as Gemini Earn, credit card, and Pay for daily use. For pro crypto traders, Gemini has an ActiveTrader with higher performance and lower fees.

1.49% (of order value) for mobile and web orders above S$250, from 0.35% maker and taker fees on Gemini ActiveTrader

Free for crypto deposits and bank wire transfers, 3.49% for debit card transfer deposits

10 free withdrawals per calendar month, after which withdrawal fees will be charged. Withdrawal fees vary from coin to coin – 0.001 BTC for Bitcoin, 0.01 LINK for Chainlink, 0.001 ETH for Ethereum, 0.002 LTC for Litecoin, and more.

0.35% taker and 0.1% maker fee (for 30-day trading volume below US$1 million)

0.4%

3.49%

To deposit SGD into your Gemini account, you'll have to link or create an Xfers account (if you are new to Xfers, an account will be automatically created for you on the Gemini app). Once your Xfers and bank account has been verified, you'll receive a unique SGD bank account number (Gemini's) – add that as a new recipient in your bank account so you can transfer your funds to your Gemini account (through Xfers).

If you hold any of the crypto coins or tokens that Gemini supports, you'll be able to deposit them to your Gemini account. Go to the "Deposit" section on your Gemini account, and select the crypto that wanted to transfer to your Gemini account. Get the deposit address, and copy and paste it into your other wallet's withdrawal page.

You can also key in your Mastercard or Visa debit cards to directly make trades up to $1,000 every 24 hours. You'll be able to add your debit card to your account under the "Funding" section.

First, you'll need to create a Gemini account on the website. The process will take 5 to 10 minutes. Next, you'll need to add a payment method to be able to purchase crypto coins such as Bitcoin, Ethereum, Litecoin.

If you're in Singapore, click on "Manually link bank account" to link your Singapore bank account via your mobile number registered with Xfers (or create a new Xfers account if you're new). You'll then be able to key in and register your local bank account, and you'll be given a unique Xfers SGD Gemini account number and prompted to make a FAST deposit. You may see your deposit updated on your Gemini account anytime in a couple of minutes or up to 48 hours for verification.

Once your deposit has been verified, you'll receive an email notification. After that, you'll be able to click into your coin of choice, choose your order type, "Buy", set your one-time or recurring order, and key in the amount (in SGD) that you'd like to buy. Once that's done, you can click "Continue" to read any agreements, view your final order ticket, and complete the order. You'll then receive an email of confirmation detailing your order. You will also be able to see your purchased coins in your portfolio.

When you make an order for a crypto coin or token on Gemini, you will see an option to submit your purchased crypto to the Gemini Earn programme to generate interest. Gemini Earn is a staking programme which allows users to hold their cryptocurrencies in a cold storage for a fixed period of time to earn rewards and interest. You could liken it to a "fixed deposit" scheme in a traditional bank.

When you trade crypto on Gemini, your coins and tokens will go to your Gemini hot wallet by default. Given that these are places where you keep your keys and coins – at least until you find the right cold wallet or offline wallet for yourself – you'd want to know how secure Gemini's hot and cold wallets are. Gemini states that their wallets' security are continually upgraded to support newer coins. It's also reportedly insured against digital theft.

Gemini Custody is an offline cold storage operated by Gemini. There are several security features of the custody programme, including 2FA (two factor authentication) for logins, whitelisting withdrawal addresses beforehand to prevent illegitimate hacks, limiting login attempts, hashed and encrypted password and information, and hardware security keys. As of 11 May 2021, Gemini announced that there were over US$30 billion worth of crypto kept in their Custody.

Gemini Clearing is basically an electronic clearing (settlement and transfer of funds) system for off-system trades. Off-chain transactions basically include coins that don't leave the deposit address it's been sent to, examples may include you passing on your private keys to a family member or friend on a piece of paper, or the internal transactions that occur within Gemini's own storage and ledger of coins and tokens (e.g. when you transfer 1 LTC from your Gemini account to your friend's Gemini account).

ActiveTrader is Gemini's version of a higher performance interface with more detailed charts (that means its interface is more complex), and lower fees as compared to the basic Gemini Exchange or mobile app. If you're using Gemini Exchange, you can switch your trading interface to ActiveTrader for free from your "Account" settings.

If you prefer a simplified and easy-to-use interface on your mobile, you'll be able to download Gemini on the Apple App Store, Google Play store, and Galaxy Store. However, do note that fees are higher when you make purchases on the mobile app.

Gemini Pay is the payment mobile app of your Gemini Wallet. Gemini users based in the US with the Gemini Pay app downloaded on their phones will be able to spend their crypto (BTC, GUSD, TH, LTC, ZEC, or BCH) at retail stores. Gemini Pay is not available in Singapore.