GEMINI EARN REVIEW ISO

If you don’t have a Gemini Earn account, you can make one with this link and get a signup bonus of $10 (in BTC).

GEMINI EARN REVIEW ISO

Gemini has completed SOC 1 Type 2, and SOC 2 Type 2 exams from Deloitte and earned an ISO 27001 certification.Īs of this writing, Gemini’s platform has never been hacked. It is a New York Trust company and is subject to the New York Department of Financial Services (NYDFS). So far, Gemini passes the safety benchmark. Users should also take note of the platform’s security. Gemini Earn Review: How Safe is Gemini Earn?Īssets in Gemini Earn are not insured by the company, which isn’t rare most crypto interest platforms (with the exception of Hodlnaut ) do not offer insurance for your assets after they’re loaned. It‘s essential to consider the risk you may be undertaking. Gemini’s terms state that users bear all the risk for its unsecured loans, as there is no collateral incentive to decrease the chances of a borrower default. While earning relatively passive income on cryptocurrency sounds good, it’s not risk-free. Here’s how they put it in their terms.Īs of this writing, Gemini Earn only has one corporate borrower: Genesis Global Capital, a digital asset lender offering liquidity to large firms.

It also informs users to whom it lends their funds.Īlthough well known for its top-notch security and insurance practices, Gemini does not insure funds you use in the Earn program. Instead, the company performs comprehensive background checks, regular asset evaluations, and in-depth risk assessments on its corporate creditors. Gemini does not charge any collateral for these loans. Its cryptocurrency interest account product, however, is able to pay its users’ interest by making loans to corporate borrowers with user deposits. Gemini, the parent company, has a few distinct revenue lines. However, Gemini Earn is just about a percentage point off of the stablecoin rates on Celsius and BlockFi, so it may be a good holding place for some of your stablecoin assets and collect relatively passive income. Still, neither platform comes with as established a reputation for security and custody as Gemini. You can earn about 5% on <0.5 BTC on BlockFi, and 6.2% on <2 BTC on Celsius. Users can earn 2.05% APY on BTC and ETH and up to 7.40% for DAI and GUSD.Īlthough Gemini Earn’s interest rates may be better than nothing, it’s worth noting that crypto interest accounts still pose a risk- not only are your assets under the custody of another platform, they’re also uninsured. Gemini Earn Review: Interest Account and Interest RatesĪlthough its rates on major coins like BTC and ETH are not as impressive as those of Celsius or BlockFi, Gemini Earn offers a fairly competitive 7.4% APY on stablecoins. However, if you’re new to Gemini or the cryptocurrency interest account space at large, let’s explore whether either would be a fit for you.

The platform is beginner-friendly and accessible via a mobile app or a desktop-accessible web app.įrequent users of the Gemini exchange can seamlessly use Gemini Earn, and they may find familiarity in the established brand.

Users can withdraw their cryptocurrency anytime, at no fees.

Gemini Earn is only available to Gemini users in the United States and Singapore.

It’s a regulated company with over $30 billion in crypto assets, industry-leading crypto security practices, and only up to some hundred thousand dollars in insurance coverage.

Gemini Earn lets users earn up to 7.40% APY on 50+ cryptocurrencies, including BTC at 1.65%, ETH at 2.05%, 7.40% on DAI, GUSD, and more.

The parent exchange, however, has been around since 2014 and is founded by Tyler and Cameron Winklevoss.

Gemini Earn Quick SummaryĪnnounced in February 2021, Gemini Earn is a relative newcomer to the cryptocurrency interest account niche. The following guide explores how Gemini Earn works, its features, the interest rates it offers on various cryptocurrencies, security, and how it compares to its competition. With Gemini Earn, Gemini throws its hat into the ring of the world’s best cryptocurrency interest accounts - an increasingly competitive industry that includes BlockFi, Celsius, and competing exchange Coinbase. It has built its reputation with a suite of products and features, such as the Gemini exchange and wallet, a stablecoin GUSD, and Gemini Pay, a feature for users to pay with crypto at traditional businesses like Bed, Bath and Beyond. Gemini is regarded as a pioneer in the cryptocurrency industry. Gemini Earn enables users to transfer funds into an “Earn” account and get up to 7.40% APY on BTC, ETH, stablecoins, and other altcoins. Gemini Earn is a cryptocurrency interest account feature on the cryptocurrency exchange Gemini.

Gemini earn review