Most Insured Bitcoin Wallet | Gemini (2024)

FAQs

What is the Gemini custody solution? ›

What is Gemini Custody? Gemini Custody provides a solution to store your crypto in a regulated, secure, and compliant manner with our secured offline storage systems.

In January 2023, Gemini and Genesis were charged by US regulators with illegally selling crypto assets to hundreds of thousands of investors. The companies were accused of breaking the law by offering and selling the products through Earn, which launched in 2021.

U.S. dollars in your Gemini account are also protected. These cash deposits have the same FDIC insurance that many banks and credit unions offer, covering up to $250,000 per eligible account. In a nutshell, the answer to the question of "Is Gemini exchange safe?" is yes.

Our Exchange platform was built with a “security-first” mentality and uses institutional grade technology and protocols to custody Exchange cryptoassets. The majority of assets are held in our off-line cold storage system, with only a small portion held in our online hot wallet.

Be ready to talk intelligently about any topic you're passionate about. You can play Gemini at his own game by fascinating him and beating him in friendly debates. Send him an intriguing news article and ask for his thoughts on it, or talk to him about your favorite movies, books, and other media.

The annual fee for storing your cryptocurrency in Custody is 0.40% (40bps) with an additional fee of $125 per withdrawal. Our fee schedules can be found here: Custody Fee Schedule. What is Gemini Custody?

Earn customers were promised interest payments, but lost their money when Genesis defaulted on approximately $1 billion worth of loans in November 2022. Genesis declared bankruptcy two months later, leaving more than 200,000 Earn customers unable to access their digital currency.

Gemini Earn customers will receive 100% of their assets – possibly more than $1.1 billion – when Genesis Global Capital, Gemini's former partner on Earn, wraps up its bankruptcy case. Genesis filed for bankruptcy in January 2023.

Gemini is the worlds first SOC1 Type 2 and SOC 2 Type 2 certified crypto exchange and custodian*, click here to learn more. Today, every employee at Gemini continues our founders' focus on security and compliance, in order to build trust.

The reply he got two days later appears to be a standard response by Gemini customer service: "All fiat currency held by Gemini to redeem your GUSD is held by our partner financial institutions in a secure account and is eligible for FDIC insurance."

Is Gemini legal in the US? ›

Is Gemini legal? Yes. Gemini legally operates in the United States.

Both Gemini and Coinbase are considered highly-secure exchanges. Let's walk through some of the techniques that Gemini and Coinbase use to keep your cryptocurrency safe. Two-factor authentication: To log in to your exchange account, you're required to go through two-factor authentication.

Gemini Wallet®

Use Gemini deposit addresses to store your assets in our insured hot wallet or institutional-grade cold storage system.

They enforce this holding when you fund your Gemini account via a linked bank account (ACH) or for a number of other reasons. Gemini claims that this holding period is enforced until your ACH bank transfer settles into Gemini's accounts.

Gemini, a prominent cryptocurrency exchange, reportedly experienced a data breach that led to the unauthorized access of customer information. The breach in 2022 raised significant concerns about the security of sensitive financial and personal information in the cryptocurrency space.

When you have control over your private keys, you have control over your digital assets. This is in contrast to the custodial wallets offered by centralized crypto exchanges such as Gemini, FTX, Binance, and Coinbase. In these wallets, third parties control their customer's private keys.

Gemini Clearing™ allows two institutional accounts to settle trades that are negotiated off-exchange or OTC. Such trades can either be arranged bilaterally between two parties or brokered via a third party to help to ensure timely settlements and mitigate counterparty risk.

Supported currencies

Gemini supports 100+ digital assets including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Zcash, and more.

Gemini Trust Company, LLC provides software solutions. The Company offers software for buying, storing, and selling bitcoin and crypto currency. Gemini Trust serves customers worldwide.