![]() ![]() Lacks live customer support: Although the wallet has other support channels, it does not have a live customer support channel where users can instantly get tailored solutions to their wallet challenges.Requires a lot of personal information: Signing up for the Gemini Wallet requires a lot of personal information, like a home address and an ID, which might not sit well with privacy-focused users.However, this insurance only covers assets affected by a security breach or hack, not those lost by a user's carelessness or fault. Insurance of crypto asset loss: Gemini claims that third-party insurance companies insure all crypto deposits.Staking rewards available: Gemini users can earn up to 8% APY using the staking or “Grow” feature.Interactive user interface: Users can easily navigate between sections and locate features thanks to the wallet's easy and interactive interface.Supports 100+ cryptocurrencies: The Gemini Wallet supports up to 133 different cryptocurrencies including Bitcoin, Ethereum, and Litecoin.Transaction fees apply for buying and selling cryptocurrency. Free crypto withdrawals for 10 or fewer withdrawals per month. Hot wallet available for Android and iOS and devices, web wallet available for desktop This data breach raises concerns among users, mainly because Gemini stores a lot of personal user information. This hack compromised millions of users' personal information, like email addresses and phone numbers. In a blog post on November 16, 2022, Gemini admitted it would not be able to pay out deposits to its Earn users due to the crisis.īarely a month later, one of Gemini's third-party data vendors was hacked. Its lending partner for the Earn program, Genesis Capital, paused withdrawals after losing a billion dollars to Three Arrows Capital. Gemini currently owes customers who participated in its Gemini Earn program $900 million in rewards. But in November 2022 it became entangled in the crypto space's crisis caused by FTX's collapse. To date, it maintains compliance in 60+ countries, including the U.S., U.K., Ireland, and Hong Kong. Gemini focuses on compliance, as it was the first crypto exchange to receive a "BitLicense" from the New York State government. The famous twins created Gemini as an LLC trust company to provide a "high-integrity choice" option to users who desire a simple, elegant and secure way to carry out crypto transactions. Gemini was founded by the Winklevoss twins, Tyler and Cameron, in 2014.
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