A couple months ago, Harsh recommended I sign up for Gemini. Instant Bitcoin Trading Exchange Litecoin Poker took his advice and decided to go through the process.
But after having a very difficult time signing up, I’m not having good feelings about Gemini. Before I tell you about my signup process, let me give you a brief history on Gemini. Bitcoin, making them among the largest holders of Bitcoin in the world. They started this platform in the middle of 2016, and are desperately trying to become the most active and reputable Bitcoin exchange on the market. But you wouldn’t know any of this unless I told you. Because there’s nothing about any of that on their website. It’s a very big put off to not know anything about the company which I am about to share my sensitive personal and financial details with.
This cryptic website does not look very friendly in any way. That’s not exactly what I’m looking for when I’m about to make a substantial monetary investment. So that said, because Harsh told me to sign up, I did. Signing Up For GeminiI went to Gemini.
First, notice on the top left of this screenshot how the words are overlapping. It doesn’t fill me with great confidence that their design team can’t properly build a website, yet they’re supposed to be the most advanced and trustworthy BTC trading platform out there. Update: This has since been fixed. Anyway, I filled out my name, email, and created a password. Got an email and entered the activation code.
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I hesitantly filled out my personal information. I am living in a place that does not get mail service. I can not use a bank statement to verify my physical address because the bank only has my mailing address. I said I can show them a voided check from my bank, but aside from that, I was unable to verify my address.
The agent was curt, unhelpful, and a little rude. At the same time, I had to go to the DMV to renew my driver’s license. I got to the DMV and a customer service agent there very graciously and helpfully walked me through everything that could be done. We outlined several possibilities, but eventually, I was unable to get a driver’s license as well, though the DMV agent suggested I go across the street, open a bank account, and come back with a bank statement for my physical address. I’m not sure why that worked because I just told the bank my address and they didn’t need any proof.
So now I went to back to email Gemini with my bank statement. Note: At the time of writing, Gemini has updated their verification process to include bank statements. When I was doing this, Gemini would not allow bank statements as proof of verification. I had to plead with this anonymous Gemini support person to let them accept it. For a company that requires you to prove your identity to the extent that Gemini does, they sure do like hiding any shred of their own humanity. For instance, why is there no mention of who is running the platform? Why did I have to prove myself worthy to someone hiding behind an anonymous Gemini support email address?
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The hypocrisies here don’t make me want to engage with this company. The lack of accountability and the unintuitive platform make me want to stay far away from ever engaging with Gemini. Gemini does not give me a good feeling. It would be nice if we as consumers got together and demanded some transparency and respect from our online services. UPDATE: I have since used the platform and found it to be quite speedy and effective. It took me a while to be comfortable enough giving them my bank account info, but after doing so, it turned out to be OK, and I have only had good interactions with them.
However, I am still bothered by their arrogance and secrecy. There are plenty of other exchanges out there that don’t make me feel as irritated as Gemini. But I want to hear from you. What have been your experiences with Gemini? Have you traded with them before?
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Did you have trouble signing up and getting verified? Share your thoughts in the comments below. If you would like to contribute a guest post, kindly see our guest submission guidelines. I only had to send a pic of my drivers license.
I did set up the banking at the same time though. I signed up on the 19th and was approved on 21st. The fees and pricing were much better than coinbase. Hope it works out, good luck. Yeah, I’ve since used the platform and definitely had no more troubles.
Danced with them for over three months. Sent digital images of requested ID four times in that time period. Every time there was something wrong with the images. Maybe they need to get their vision checked. At one point they mentioned a passport in a reply.
I asked if a DNA sample might help resolve their problems. Got fed up and deleted the my data from their site. I would rather go to the dentist and get a root canal done than ever have to deal with them again. Apparently nothing I can do to prove my identity will satisfy Gemini. I am forced to stay with GDAX. That seems to be a common complaint.
Within 24 Hrs I was in. I used my U Passport since it was already in my Mac. I am MORE curious as to what is the best method to use for gaining some extra. Where is the best place to educate a newbie? Thanks for your input and sincerity Eric! I had a wire transfer in limbo for 3 weeks.
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What is the next best option to purchase bitcoin? I’ve had some more bad experiences with their customer service. I’m sure as it becomes more mainstream, it’ll get easier and cheaper to buy into. However I’ve been waiting 2 weeks for bank verification, still pending. Yeah, sometimes these services take a long time to kick in. I’m not a big fan of how long it takes to get money into this exchange.
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I just signed up, took 5 min. Hey Ian, I believe based on some earlier reviews they’ve gotten that the signup process has become easier. I still have a few qualms with their service, and try to use other exchanges when I can. I have noticed that their support is not the best. Hope you don’t need support for any reason! So I always start with just sending a wire to fund the account. Wires are preferred by recipients anyway because very difficult to play games and when the money arrives it is locked in.
Then when I’m up and running I figure out the ACH verification later. Having said that, the wire process with Gemini is a little tricky because they send you a code to be included in the wire instructions from your bank. Call me crazy but the only people I’m giving my SSN to are the IRS, my bank, and my employer. I’ll gladly pay higher fees to keep the twins from having all that info on me. After changing my number user Authy to generate security numbers, someone managed to get into my acount and sell my ethereum. I contacted gemini the next day and i have not heard from them. No receipt of a message being sent to support.
I thought that was strange but contacted them again. By the looks of things someone had placed a scaraper or used their logon on screen to intercept my data being entered as well as to intercept the dynamic id I receive on my cell phone. I got in just in time to see three transactions using my fiat funds to purchase ETH, trades BTC for ETH and then to remove all ETH. Had there been a telephone number handy I could have stopped before transactions went through. Emailed and explained what happened and I was told it was my responsibility to keep my logon info secure and they recommended I change my password.
Sorry to know that and thanks for writing it here. This is very disturbing and sounds like a trend in the last month as this happened to me as well. Did they specify anything like that during signing up? What is with all the whining? The challenges posed by Gemini should give you confidence rather than irritate you. I seriously researched all major exchanges.
These guys are taking security and professionalism seriously. Of course they will hold your deposit for a few days! Try depositing a check at your bank from Uncle Bill who banks in another state and see what happens. I don’t blame them for holding deposits for a couple of days. What I do hold them responsible for is NOT holding transfers out at all, allowing compromised accounts to transfer out money within seconds.