Gemini Custody Review

Do you want an easy-to-use cryptocurrency custodian that doesn’t charge any setup fees?

My Gemini Custody review inspects your investment choices, security standards, wallet service, platform tools, and more.

See why many individuals, companies, and financial institutions trust this platform and decide if it fits your portfolio well.

The Verdict for Gemini Custody

I’ve given them a rating of 9.1 out of 10.

Criteria	Rating (out of 10)
Security Standards	9.5
Pricing & Fees	9.2
Asset Segregation	9
Insurance Coverage	9
Services & Offerings	9
Regulatory Compliance	9
Onboarding & Integration	9
Overall Rating	9.1

In this review of Gemini custody I’ve followed BIC’s detailed criteria for evaluating the crypto custodian.

About Gemini Custody

Gemini Custody provides cryptocurrency trading and storage for institutional investors, businesses, and high-net-worth households. 

Its corporate headquarters are in New York City, operating as Gemini Trust Company, LLC.

It is the qualified custodian for several prominent financial institutions and investment funds, including Betterment, State Street, Samsung Blockchain, and Van Eck. 

The Gemini Exchange started in 2015 by brothers Cameron and Tyler Winklevoss and started offering institution-grade custody in 2019.

The Winklevoss brothers continue to serve as the President (Cameron) and CEO (Tyler). 

It’s one of the largest cryptocurrency exchanges in the United States. International investors from over 60 countries are also eligible. 

Over 130 cryptocurrencies are available for trading:

• Native assets like Bitcoin, Ethereum, Litecoin, and Solana
• Stablecoins including Gemini Dollar, USD Coin, and Tether
• ERC-20 tokens such as 0x, Aave, Chainlink, PAX Gold, and Uniswap
• SPL tokens like Dogwifhat, Moo Deng, and Peanut the Squirrel

The cryptocurrency selection is relatively limited. Still, the investment offerings and easy-to-use platform make it a competitive choice for most short-term and long-term strategies.

No minimum investment requirements make joining easy when you need more features and safeguards than a standard retail exchange. 

Further, your assets are stored in hot and cold storage with up to $200 million in insurance coverage.

The company has been one of the first to implement the best security practices to protect accounts from digital crime and theft.

Specifically, your assets are in custodial wallets with instant trading capability and digital crime insurance coverage.

However, self-custody wallets are unavailable and Gemini maintains control of your keys. Other custodians offer more diverse wallet services.

This platform has many advanced trading tools for taxable accounts. It’s also the trading partner for select crypto IRAs. 

There is much to like about the platform and its loyal customer base.

However, the lack of Better Business Bureau (BBB) accreditation and ongoing actions involving discontinued services may deter some potential investors.

Security Standards

As it’s the most secure crypto key storage method, cold wallets are the default storage method.

Custody customers can enjoy the flexibility of issuing governance roles to multiple team members and customizing security protocols to avoid sacrificing safety. 

The custodian utilizes many industry-leading security practices:

• Offline key storage: Every private key remains offsite in high-security data centers instead of a Gemini office. The hardware security modules are encrypted, tamper-resistant, and have separate interfaces for critical security topics.
• Two-factor authentication (2FA): Required for all accounts, the platform also supports hardware security keys like YubiKey.
• Multi-signature technology: Multiple parties must approve transaction requests. You can also employ biometric access controls.
• Customizable controls: Assign role-based governance to team members, such as allowlists for withdrawals. You can designate managers and traders to particular portfolios.
• Withdrawal protection: Add known wallet addresses to your Address Book to prevent erroneous transactions. You can also delay withdrawals to newly added addresses by up to seven days.
• Recurring security audits: Yearly SOC 1 and SOC 2 examinations occur, maintains ISO 27001 certification for data security practices, undergoes third-party penetration tests, and supports coordinated disclosure programs to find security vulnerabilities.

In fact, according to Deloitte & Touche LLP, Gemini became the world’s first cryptocurrency custodian and exchange to become SOC 1 Type 2 and SOC 2 Type 2 certified.

Pricing & Fees

There are no setup fees or minimum balance requirements, which makes Gemini Custody potentially cheaper than similar platforms.

However, you will want to keep a sizable balance per crypto asset as the custody fees are expensive for small holdings.

Gemini Custody customers will pay two fees:

• Custody fee: 0.4% or $30 per month per asset (whichever is higher)
• Staking service fees: 15%
• Administrative withdrawal fee: $125 

Exchange fees also apply when making buys, sells, or swaps. The custodian will work with you to create a tailored pricing plan for your portfolio size and trading goals.

I really like that the platform discloses its monthly custody fee.

Most competitors only provide this pricing after an initial consultation.

Asset Segregation

Each customer’s crypto is kept in offline, cold storage and further segregated by a unique cryptocurrency address.

These addresses can be verified and audited on their respective blockchains using an independent service.

You can grant auditors view-only access for balances, transactions, and other activities.

Additionally, Gemini keeps the bulk of exchange wallet balances in cold storage. These cold wallets are air-gapped for maximum security.   

Moreover, the company and its founder-President or CEO cannot individually or jointly transfer cryptocurrency from the platform’s hot or cold wallets.

Insurance Coverage

Custody accounts qualify for up to $125 million in digital asset insurance:

• $100 million of cold storage coverage
• $25 million of commercial crime insurance for assets in hot wallets 

Covered incidents include a direct security breach, hack of Gemini’s systems, or theft by a Gemini employee.

Gemini also operates its own insurance company, Nakamoto Ltd., to provide an additional $75 million in coverage.

As a result, Custody customers have up to $200 million in total coverage.

Cash balances qualify for FDIC pass-through insurance through banking partners.

These insurance limits are sufficient for many customers, yet lower than some institutional custodians.

As a quick comparison, Coinbase Custody and BitGo offer up to $250 million in comparable coverage.

While the total coverage is relatively lower, I appreciate the transparency of knowing the eligible balances for cold and hot storage upfront.

Services & Offerings

Several hands-on features can help high-volume traders trade easily at competitive market rates.

Instant trading

The Gemini Instant Trade® feature lets you trade directly from cold storage instead of transferring to a hot wallet first.

You can also instantly withdraw funds to an exchange wallet with a self-service account portal or customizable APIs. 

Custody accounts also integrate with Gemini Exchange for a seamless single-platform exchange. 

The standard exchange interface makes basic trades easy to submit and execute quickly.

Receive sub-account support and institutional investment insights too. Frequent traders can opt for ActiveTrader web platform.

This advanced, customizable dashboard displays a real-time order book, in-depth charts, and allows viewing over 100 trading pairs.

You can also simultaneously monitor and trade two markets.

Over-the-counter trading

In addition to exchange access, institutions can fill large order requests on the eOTC platform.

This feature makes it easier for orders to achieve the best price execution as Gemini works with several prominent liquidity providers.

TWAP orders and delayed net settlement aid with price optimization.

Along with electronic order tickets, the platform offers a voice OTC desk with 24/7 trading team coverage for a high-touch bespoke experience. 

This service is currently available in 70 jurisdictions, including the United States. Unfortunately, New York State residents are ineligible.

Staking rewards

You can stake cryptocurrency and earn rewards under the protection of offline Gemini crypto storage.

Rewards currently pay out on Ether (ETH), Solana (SOL), and Matic (MATIC).

Companies of any size qualify and can assign stake positions immediately after buying participating tokens. 

There are two different staking methods:

• Staking: No minimum balance requirements, proportionally share rewards between participants, and receive rewards in a single wallet address. This plan is ideal for basic users as it doesn’t require a personal validator but doesn’t track on-chain positions.   
• Staking Pro: For advanced users who can meet the network minimum and are willing to run a personal ETH validator. Receive your staking rewards at segregated addresses and track positions on chain.

The platform automatically deducts a 15% staking service fee from your earnings, plus any network transaction or gas fees.

Regulatory Compliance

Gemini Trust Company LLC is a limited purpose trust company and fiduciary under New York banking law.

It abides by this state’s capital reserve requirements and performs the necessary Know-Your-Customer (KYC) and anti-money laundering (AML) screening. 

It is also subject to the security requirements of these global regulators:

• New York Department of Financial Services (NYDFS)
• Central Bank of Ireland
• Monetary Authority of Singapore (MAS)
• UK Financial Conduct Authority (FCA)

Overall, Gemini Trust is trustworthy. However, it paid a $5 million fine in January 2025 related to producing misleading bitcoin futures product statements in 2017.

The company also paid a $50 million settlement related to its now-defunct Earn program.

Onboarding & Integration

It’s possible to complete the initial application in as little as 20 minutes:

1. Apply online: Provide your business details and personal information. This initial step creates your admin account and you can onboard sub-accounts later. Enjoy expedited onboarding and 24/7 customer support during the application process.
2. Upload documents: You will upload an official, W8/W9, bank statements, and business organization documents to satisfy the KYC and AML protocols. The compliance team will review your application and respond within two business days.
3. Deposit funds: There are no minimum deposit requirements, although you will pay a minimum $30 per-asset monthly custody fee. You can transfer existing crypto tokens from an external wallet to your unique Gemini deposit address.
4. Trade: Crypto trading is available 24/7 with the Exchange and eOTC platforms. Your balances stay within your custodial cold wallet, allowing you to trade and stake offline.

Gemini Custody Alternatives

These exchanges also offer flexible institutional-grade custody and trading services for businesses and wealthy individuals.

Coinbase Prime

Coinbase Prime lets you trade over 250 cryptocurrencies and custody more than 430 assets using the self-managed platform or white-glove trading desk.

Custody-only solutions are also available with custodial wallets eligible for up to $325 million in digital assets insurance.

Ripple Custody

Ripple Custody caters to businesses and financial institutions primarily needing custody and payment services for cross-border transactions.

Self-custody wallets and real-world asset tokenization services are also available.

BitGo

BitGo offers prime trading services for over 1,100 digital assets. Custodial cold wallets are the default storage method and are eligible for up to $250 million in insurance coverage.

Self-custody wallets are also available if you prefer holding your private keys.

Is Gemini a custodian you can trust?

Gemini is one of the largest and most reputable custodians for individual and business cryptocurrency portfolios.

It has strict and encompassing security protocols along with generous insurance limits. 

Its trading platforms are easy to use for entry-level and advanced order types to avoid trading mistakes.

The hands-on support and customizable controls also provide the help and privacy you need at that moment.

Since Gemini doesn’t directly offer retirement accounts, it can supplement the tax-advantaged assets you have at the best crypto IRAs.

FAQs