Gemini competes on trust, not price. Customer funds are held 1:1, client assets are segregated from the company balance sheet, and the Trust Center publishes audited financials and SOC examinations annually. For US users who want a compliance-first exchange, that disclosure stack is stronger than most centralized peers offer. The fee structure is the main friction point. ActiveTrader base spot starts at 0.60% maker and 1.20% taker, and users who stay on the default retail flow pay more than they need to. Switching to ActiveTrader and using limit orders fixes most of that, but it requires knowing the option exists. There is also no user-verifiable Merkle-tree proof of reserves, so independent solvency verification relies on audit reports rather than direct balance checks. Use Gemini if you are a US user who prioritizes custody transparency and a regulated domestic platform. Skip it if you want low entry fees, broad international access, or a user-queryable proof of reserves.