Gemini Review 2026: Is It Available In Canada?

What Happened To Gemini In Canada?

Gemini joined Binance and OKX on the list of big exchanges that left Canada after the CSA's tightened rules on custody, leverage and stablecoins. It filed a pre-registration undertaking with the Ontario Securities Commission in 2023, and then, in autumn 2024, told Canadian customers it would close their accounts on December 31, 2024 and asked them to withdraw cash and crypto first. Gemini gave no reason in its announcement.

One detail I noticed back when I tested it: Canada did not appear in the list of licences on Gemini's own website, which showed the United States, the United Kingdom, Italy, Ireland and Greece. That was an early sign that Canada was never a settled market for it.

If you still hold anything on a Gemini account, you should log in and confirm it has been returned to you. Keep your trade records for tax, because the CRA treats crypto as a commodity.

What Was Gemini Like When I Tested It?

Gemini was an award-winning US-based cryptocurrency exchange offering over 80 cryptocurrencies, including its own stablecoin, which was available to Canadians. As someone who has been trading crypto since 2016 and has tested over 60 exchanges, I signed up for an account to evaluate its features. (Spoiler: it was just so-so.)

What Did Gemini Offer Canadians?

Gemini offered Bitcoin, Ethereum, Polygon and the rest of the popular list. It positioned itself as beginner-friendly, with an emphasis on security and ease of use, while serving experienced traders with an advanced platform. Derivatives trading and a crypto cashback card existed, but not for Canadians. I did find the NFT marketplace and staking services accessible from Canada. Staking was available for ETH and MATIC at up to 3.84% APR when I wrote this, and Staking Pro was open to people with 32 ETH.

Gemini ran an OTC desk for large trades with a surprisingly low minimum of $1,000, and it served institutions too. It reported $2.8 billion in assets, mostly in Bitcoin and Ethereum, which I took as a sign of deep liquidity.

How Did Verification Work?

Gemini was big on compliance, so the KYC asked for a lot. I entered my name, email and phone number, verified the phone, and then was asked for a Social Security Number, which Gemini said was used only to confirm identity. It is not something you would normally hand to a company. After that I entered my address, uploaded a photo of government-issued ID and took a selfie. You had to be 18 or older and hold a government ID.

What Did Gemini Cost Canadians?

The fees I recorded were a 1.49% transaction fee, 0.30% maker and 0.10% taker fees up to $10,000 in 30 days, a 3.49% debit card buy fee, and mobile fees of up to 1.49%.

Gemini's fees were expensive for Canadians because Interac was not available. You had to pay the card fee on top of the trading fee and the transaction fee. All of it added up to roughly 5%, a lot next to other large exchanges. Even without the card fee, 1.49% was still high. One thing I did like was the transparency: you could see the fees up front when paying by card.

The only ways to fund an account were a debit card or a more expensive wire. Buying meant picking a coin, clicking Purchase, entering the amount and the card details, then verifying the card by photo scan or by confirming micro-transactions in your bank account.

How Was The App And Platform?

Gemini was one of the few exchanges that suited beginners and experienced traders equally. The "basic" platform let you see your portfolio and buy or sell in a few clicks. The advanced platform had order types, detailed charts and an order book.

The mobile app was user-friendly, with a 4.6-star rating on the App Store and 4.3 on Google Play when I checked.

Was Gemini Safe?

I felt so at the time. Wealthsimple Crypto used Gemini's custody for its own crypto storage, which Gemini described as backed by a large insurance policy. Gemini used cold storage, multi-signature wallets and strict access controls, and its Trust Centre showed its holdings.

Gemini was a qualified custodian in New York and said it kept strict capital reserves. It was registered with FINTRAC, though, as I noted then, Canada was not among the licences Gemini listed on its site.

How Was Gemini's Support?

Support ran on an online ticket and email, with replies typically within 24 hours, plus a large knowledge centre. Trustpilot was a different story, sitting at 1.2 stars when I checked, and many people reported trouble withdrawing funds or poor service. Gemini could freeze or restrict an account on suspicion of money laundering or scams, which any exchange can do.

As with every exchange, Gemini could see where you sent and received crypto, since blockchains are public and KYC ties your wallets to your name.

What Should Gemini Users Use Instead?

Gemini's strengths were a clean app and a security reputation. You can get both in Canada from a registered platform, and with Interac funding.

Every one of these costs far less than Gemini's roughly 5% on a card buy, because every one accepts Interac. See the best crypto exchanges for Canadians for the full ranking.

Was Gemini Worth It For Canadians?

Gemini was a security-focused exchange that prioritised transparency, and its strength in the regulated US market was a real selling point. For Canadians, though, it was one of the more expensive exchanges, and standout features like the cashback card were US-only. It was hard to justify when cheaper Canadian platforms existed. Now it has closed, and the question is settled. Pick a registered Canadian exchange, and use a hardware wallet for anything you plan to hold.

Protect yourself while you move: avoid clicking suspicious links, check the official URL before depositing, and only engage with verified social media accounts. Scammers love an exchange exit, because users are anxious about their balances.