Overview
Gemini, a prominent cryptocurrency exchange, has officially expanded its services to Australia. Australian users can now access the Gemini app to trade on what the platform describes as "the regulated cryptocurrency exchange."
Supported Cryptocurrencies
Australian customers can trade and hold the following cryptocurrencies on Gemini:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Zcash (ZEC)
- Litecoin (LTC)
Leadership Statement
Tyler Winklevoss, Gemini's co-founder and CEO, emphasized the company's vision:
"Cryptocurrency is the future of money, and we’re committed to building a bridge to that future in Australia. We are thrilled to expand our global footprint and offer Australians a secure, trustworthy platform. Gemini was founded to instill trust in this emerging technology, and we look forward to fostering that trust in Australia."
Fee Structure
Gemini’s fees are higher than some local Australian exchanges:
- Base transaction fee: Starts at 1.49%.
- Additional spread (convenience fee): 0.5%.
By comparison, Australian exchanges like CoinSpot and CoinJar offer:
- Broader cryptocurrency selection.
- Lower fees (0.1%–1%).
Regulatory Positioning
Gemini markets itself as "the regulated cryptocurrency exchange." However, all Australian crypto exchanges must comply with local regulations, including:
- AUSTRAC registration.
- ASIC-imposed restrictions on certain cryptocurrencies.
Gemini may differentiate itself through stricter compliance measures.
FAQ Section
1. Is Gemini available to all Australian residents?
Yes, Australian users can download the Gemini app and start trading.
2. What cryptocurrencies does Gemini support in Australia?
BTC, BCH, ETH, ZEC, and LTC.
3. How do Gemini’s fees compare to local exchanges?
Gemini’s fees (1.49% + 0.5%) are higher than competitors like CoinSpot (0.1%–1%).
4. Is Gemini regulated in Australia?
Yes, but all Australian exchanges must meet AUSTRAC/ASIC requirements. Gemini emphasizes its compliance branding.
👉 Explore Gemini’s official website for more details
Note: Source material referenced from Finder.com.au.