{"id":624364,"date":"2023-05-12T09:53:07","date_gmt":"2023-05-12T09:53:07","guid":{"rendered":"https:\/\/info.cashtocode.com\/?post_type=product&p=624364"},"modified":"2024-01-17T07:42:45","modified_gmt":"2024-01-17T07:42:45","slug":"gemini-card","status":"publish","type":"product","link":"https:\/\/info.cashtocode.com\/en-ca\/reviews\/gemini-card\/","title":{"rendered":"Gemini card review"},"content":{"rendered":"\n
7.3<\/span>Expert Score<\/span><\/div>
Editor's comment<\/div>The Gemini card is a cutting-edge credit card that allows you to earn rewards on spending instantaneously in 60 different cryptos, including Bitcoin and Ethereum. The card has many distinguishing factors such as its 75% recycled stainless steel frame, rewards for dining, groceries and at electric vehicle charging stations, as well as the fact that it\u2019s one of the only cards on the market to offer such a wide range of crypto rewards that are automatically available in your Gemini account the moment you swipe your card and complete the purchase. As well as exclusive access to offers with MasterCard merchants like DoorDash, HelloFresh, Lyft and ShopRunner, the card even comes with advanced security features like MasterCard ID theft protection and EMV chip technology. Despite the card\u2019s plentiful features, you can only earn 1% back on purchases which is quite low, there\u2019s a waitlist to apply for the card and a low maximum annual purchase limit of $6,000.<\/div><\/div><\/div>
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Fees<\/span><\/div>\r\n\t\t\t\t\t\t\t\t
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9<\/div>\r\n\t\t\t\t\t\t\t<\/div>
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Limits<\/span><\/div>\r\n\t\t\t\t\t\t\t\t
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4.4<\/div>\r\n\t\t\t\t\t\t\t<\/div>
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Rewards<\/span><\/div>\r\n\t\t\t\t\t\t\t\t
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6.4<\/div>\r\n\t\t\t\t\t\t\t<\/div>
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Security<\/span><\/div>\r\n\t\t\t\t\t\t\t\t
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9<\/div>\r\n\t\t\t\t\t\t\t<\/div>
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Support<\/span><\/div>\r\n\t\t\t\t\t\t\t\t
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7.9<\/div>\r\n\t\t\t\t\t\t\t<\/div><\/div>
PROS<\/div>
  • Earn up to 3% rewards in 60 different cryptos\r<\/li>
  • Custom card colours of black, silver and rose\r<\/li>
  • Advanced security features like MasterCard ID theft protection and EMV chip technology\r<\/li>
  • No annual, transaction, issuance, ATM or conversion fees\r<\/li>
  • Exclusive access to offers with MasterCard merchants <\/li><\/ul><\/div><\/div>
    CONS<\/div>
    • 1% rewards on purchases \r<\/li>
    • A waitlist to apply for the card\r<\/li>
    • Low maximum annual purchase limit of $6,000<\/li><\/ul><\/div><\/div><\/div><\/div>\n\n\n\n

      The Gemini card doesn\u2019t charge <\/strong>annual, transaction, issuance, ATM or conversion fees<\/strong>.<\/p>\n\n\n\n

      Type of fee<\/th>Amount<\/th><\/tr><\/thead>
      Annual<\/td>No fee<\/td><\/tr>
      Topup<\/td>No fee<\/td><\/tr>
      Transaction<\/td>No fee<\/td><\/tr>
      ATM withdrawal<\/td>No fee<\/td><\/tr>
      Currency exchange (non CAD)<\/td>No fee<\/td><\/tr>
      Account closure<\/td>No fee<\/td><\/tr>
      Reissue card<\/td>No fee<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      In contrast, the Crypto.com card doesn\u2019t charge transaction fees but you need to pay a relatively high <\/strong>2% foreign currency administration fee. <\/strong>The card has zero transaction, annual, maintenance, issuance or ATM fees but there\u2019s an extortionately high reissuance fee of $70 if you lose your physical card. <\/p>\n\n\n\n

      Limits<\/h2>\n\n\n\n

      Gemini hasn\u2019t disclosed its credit card ATM withdrawal, maximum balance or load frequency limits as they exist on a case-by-case basis, decided by your individual credit score. In order to be eligible for the card, your credit history and financial information is used to determine your final credit score, which must be at least 670 to receive the card. You can spend up to $6,000 a year<\/strong> which is quite low and the card also comes with a credit limit, which is the maximum amount of money you can borrow based on your credit score.  <\/p>\n\n\n\n

      Type of limit<\/th>Amount<\/th><\/tr><\/thead>
      Free ATM withdrawal<\/td>All ATM withdrawals are free<\/td><\/tr>
      ATM withdrawal limit<\/td>Undisclosed<\/td><\/tr>
      ATM withdrawal frequency<\/td>Undisclosed<\/td><\/tr>
      Max balance<\/td>Undisclosed<\/td><\/tr>
      POS purchase <\/td>$6,000 a year<\/td><\/tr>
      Load frequency<\/td>Undisclosed<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      With the Crypto.com card, ATM withdrawal limits are based on your tier. <\/strong>For example, the highest Obsidian tier has a daily limit of $2,500 and $15,000 for the month, while the lowest Midnight Blue tier has a daily limit of $700 and $7,000 for the month. All card tiers are subject to no yearly ATM withdrawal limits. You\u2019re allowed a high maximum balance of $35,000 for all tiers and the Terms and Conditions of the card mandate that you can load at a frequency of up to 12 times a day or 140 times a month.<\/p>\n\n\n\n

      Merchant and POS network<\/h2>\n\n\n\n

      The Gemini credit card is issued by WebBank and uses the MasterCard network which is available in Canada and at 37 million merchants worldwide. For instance, you can use the card at leading Canadian stores <\/strong>like Sobeys, Loblaws or Tim Hortons. <\/p>\n\n\n\n

      Rewards<\/h2>\n\n\n\n

      The Gemini card offers up to 3% rewards on spending, which enables you to integrate crypto into your daily shopping and save money on transactions but you can only earn 1% on purchases.<\/strong> Gemini categories purchases as transactions with merchants that operate in accordance with Merchant Category Codes (MCCs) but dining, groceries and electric vehicle charging stations are excluded from the 1% rewards program. <\/p>\n\n\n\n

      You can earn 2% crypto rewards on groceries which includes specialty food stores like Costco and Sam\u2019s Club but candy stores and bakeries are excluded from this category. In addition, you can earn 3% on dining<\/strong> which includes restaurants and fast food places. Gemini also offers 10% crypto rewards for using electric vehicle charging stations but you must spend at least $200 a month to qualify. <\/p>\n\n\n\n

      Spending   <\/th>Crypto rewards <\/th><\/tr><\/thead>
      Purchases<\/td>1%<\/td><\/tr>
      Groceries <\/td>2%<\/td><\/tr>
      Dining <\/td>3%<\/td><\/tr>
      Electric vehicle charging stations<\/td>10%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      Staking<\/h2>\n\n\n\n

      Gemini card users can stake their cryptos and earn rewards as this is available for 35 eligible cryptos. For instance, you can earn annual percentage yields of up to 4.29% on your Ethereum<\/strong>, 3.74% on Polygon or 1.03% on Bitcoin. <\/p>\n\n\n\n

      Is Gemini card safe?<\/h2>\n\n\n\n

      Gemini has been in operation since 2013, amassing over 13 million users across the world and has comprehensive security measures in place<\/strong>. For example, there\u2019s a coordinated disclosure program related to hacking research, geographically distributed hardware security modules (HSM) with a FIPS 140-2 level rating, IP address whitelisting, a digital multi-signature scheme and the company runs a private bug bounty program. Gemini is also secured by PCI DSS, has SOC 1, SOC 2 and ISO 27001 certifications and is regulated by the NY Department of Financial Services, Monetary Authority of Singapore (MAS) and Financial Conduct Authority (FCA).<\/p>\n\n\n\n

      Trustpilot<\/td>1 star<\/td><\/tr>
      Investopedia<\/td>4.6 star<\/td><\/tr>
      Forbes<\/td>4.5 star<\/td><\/tr>
      Nerdwallet<\/td>4.2 star<\/td><\/tr>
      Business Insider<\/td>4 star<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      A low percentage of users (3%) rate Gemini with five stars on Trustpilot, which is a low indicator of safety. The most common issues raised are related to accounts, deposits and refunds. In addition, Gemini experienced large-scale controversy in February last year when $36 million in customer funds was stolen and laundered. The IRA Financial Trust subsequently filed a lawsuit against Gemini for this hack. However, Gemini has received high ratings<\/strong> from various sites like Investopedia and Forbes, while many people praise them for a great selection of available cryptos, as well as their staking program. <\/p>\n\n\n\n

      How to get a Gemini card?<\/h2>\n\n\n\n

      Registration<\/h3>\n\n\n\n

      You need to sign up for a Gemini account in order to apply for the card and this can be done by:<\/p>\n\n\n\n

        \n
      1. Visiting the website or mobile app and inputting your email address and full name so you can create a password and start the process. <\/li>\n\n\n\n
      2. After verifying your email address, enter your phone number to receive an SMS verification text message.<\/li>\n\n\n\n
      3. After verifying your phone number, you have to enter your residential address and date of birth. <\/li>\n\n\n\n
      4. You then have to submit your occupation, annual income and source of wealth before being redirected to a page where you can complete full KYC verification.<\/li>\n\n\n\n
      5. Upon successful registration and passing verification, visit the credit card dashboard and click on the \u2018Get started\u2019 option. <\/li>\n\n\n\n
      6. You are then redirected to a new page where you have to click \u2018Apply now\u2019.<\/li>\n\n\n\n
      7. You then need to confirm the name you want to appear on the card and your delivery address in order to receive the card.<\/li>\n<\/ol>\n\n\n\n

        KYC<\/h3>\n\n\n\n

        Multi-step KYC verification is mandatory for all Gemini card users in Canada. The company asks you for proof of identity, which can be a drivers licence, government-issued ID or passport, as well as proof of address, which can be a utility bill, letter from your local municipality, house rental agreement, tax letter, credit card statement or bank account statement. You must provide a clear and visible picture of the front and back side of your documents and you <\/strong>need to provide your social insurance number <\/strong>and submit a selfie. <\/p>\n\n\n\n

        Delivery<\/h3>\n\n\n\n

        You can receive your physical card in up to seven working days <\/strong>and your virtual card becomes available for online use once your application is approved. <\/p>\n\n\n\n

        Loading or topup Gemini card<\/h2>\n\n\n\n

        The card is funded by the cash or crypto balance in your Gemini account <\/strong>and the accepted payment methods to fund your Gemini account include debit and credit card, wire transfer, bank transfer, PayPal, Apple Pay or Google Pay. <\/p>\n\n\n\n

        CashtoCode eVoucher<\/h2>\n\n\n\n

        You can\u2019t fund your card with a CashtoCode eVoucher as this isn\u2019t offered at Gemini.<\/p>\n\n\n\n

        Customer Support<\/h2>\n\n\n\n

        Customer service options are limited at Gemini with only an online Help Center that displays FAQs and no phone support or live chat function.<\/p>\n\n\n\n

        Live chat<\/td>No live chat function<\/td><\/tr>
        Phone support<\/td>No customer phone line available<\/td><\/tr>
        Email<\/td>support@gemini.com<\/td><\/tr>
        FAQs<\/td>Available<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

        Gemini uses a ticketing system where you need to fill in an online form <\/strong>detailing if your request is related to deposits, withdrawals, account management or KYC verification. You then need to include your email address, a subject, description and additional attachment option. For users who are dealing with emergency account issues, there\u2019s no way to speak with customer service on the phone or through live chat. <\/p>\n\n\n\n