Gemini Dollar (GUSD) Stablecoin Review
Best For
- Traders
- Financial Institutions
- Exchanges
- Investors
Gemini Dollar (GUSD) is a stablecoin pegged to the US Dollar. Issued and maintained by Gemini Trust LLC, GUSD is audited monthly to ensure a 1:1 collateralization to the US Dollar with customer funds held in FDIC insured bank accounts. GUSD is the smallest centralized stablecoin by market cap and is exclusively issued as an ERC-20 on the Ethereum blockchain.
Gemini Dollar Stablecoin - 2020 Comprehensive Review
Gemini Dollar stablecoin Overview
| Ticker | GUSD |
|---|---|
| Current Price | $1.00 |
| 24H Volume | $4,620,474.96 |
| Market Cap | $229,522,675.00 |
| Circulating Supply | 229,089,484 |
| Market Rank | 151 |
| Collateral Type | Fiat-Backed |
| Base Currency | USD |
| Exchanges | OKEx, Bitfinex, Gemini, IDEX |
| Blockchains | Ethereum |
| Hardware Wallets | Ledger, Trezor |
| Deposit Insurance |  |
| Audit Frequency | Monthly |
| Minimum Purchase | 100 |
| Minimum Redemption | 1 |
Gemini Dollar (GUSD) Exchanges
| Exchange | Rating | Price | Pairs | 24hr Volume |
|---|---|---|---|---|
| Gemini | 6/10 | $1.00 | 2 | $86,948.36 |
| OKEx | 7.5/10 | $0.00 | 0 | $0.00 |
| Bitfinex | 7/10 | $0.00 | 0 | $0.00 |
| IDEX | 6/10 | $0.00 | 0 | $0.00 |
Gemini Dollar (GUSD) Wallets
| Wallet | Rating | Type | Price |
|---|---|---|---|
| Ledger | 10/10 | Hardware | $69.99 |
| MetaMask | 8/10 | Browser Extension | $0.00 |
| Ledger Nano M | 7/10 | Mobile Application | $96.00 |
| Trezor | 9/10 | Hardware | $149.99 |
| MyEtherWallet | 9/10 | Web | $0.00 |
| MyCrypto | 9/10 | Web | $0.00 |
| TrustWallet | 9/10 | Mobile Application | $0.00 |
Gemini Dollar Borrow Rates
| Platform | APR Rate | Collateral LTV | Loan Amounts |
|---|---|---|---|
| BlockFi | 6.5% - 15.25% | 20% - 50% | $5,000 - $1,000,000 |
| Celsius Network | 3.46% - 6.26% | 25% - 50% | $1,500 - $1,000,000 |
Gemini Dollar Interest Rates
| Platform | APY Rate | Lockup Terms | Deposit Amounts |
|---|---|---|---|
| Celsius Network | 11.55% | Flexible | $1 - $100,000 |
| BlockFi | 8.6% | Flexible | $1 - $1,000,000 |
Gemini Dollar Stablecoin Alternatives
Pros and Cons
Pros
- ERC20 - GUSD is exclusively issued on the Ethereum blockchain as an ERC20 token. ERC20s are easily stored in personal hardware wallets and benefit from the many pros of the Ethereum blockchain: Transparency, security, and fast transaction speeds.
- BlockFi Interest Account - The BlockFi crypto interest account currently yields an 8.2% APR on GUSD for account holders
- Monthly Audits - Gemini Trust’s US Dollar account balances are audited monthly by BPM, LLP to ensure that GUSD is fully collateralized 1:1 to US Dollars.
- Regulated & Compliant - Gemini Trust LLC is fully regulated and licensed to operate GUSD by the NYDFS (New York Department Of Financial Services).
- Strong Institutional Backing - Gemini Trust Company, LLC was founded by billionaire investors Tyler & Cameron Winklevoss and is extremely well funded.
Cons
- Liquidity - GUSD does not have sufficient liquidity across the top cryptocurrency exchanges.
- Centralized - GUSD is a centralized stablecoin issued and maintained by the Gemini Trust Company, LLC. All centralized stablecoins are subject to regulations and can therefore be censored, seized, or confiscated in the event that activity or transactions deemed illegal has occurred.
- Redemption KYC - Privacy focused users should be aware that withdrawing GUSD for USD requires personal identification documents and passing of standard KYC procedures.
Frequently Asked Questions
What is Gemini Dollar (GUSD)?
Is Gemini Dollar (GUSD) an ERC20?
Where can I buy Gemini Dollar (GUSD) with USD?
Where can I sell Gemini Dollar (GUSD) for USD?
Can I earn interest on Gemini Dollar (GUSD)?
Summary
GUSD is a very legitimate stablecoin issued by the Gemini Trust Company. From a regulatory and compliance standpoint, the company has done everything right with GUSD - monthly public audits and routine smart contract security tests. Unfortunately, liquidity has been and continues to be a major issue with GUSD.
GUSD has seen a rapid decline in market cap and overall usage compared to its thriving centralized competition in USDC, PAX, & TUSD. Even worse, the majority of GUSD exchange traded volume is on exchanges that are known wash trading offenders.
While Blockfer does not recommend GUSD for trading, the stablecoin does have a use case for investors looking to earn interest. BlockFi currently offers a crypto interest accounts paying 8.2% APR on GUSD balances.
| Learn More | Best Features |
|---|---|
|
Legal & Regulation - Facts & Figures
| Legal Name | Gemini Trust Company, LLC |
|---|---|
| Incorporated Country | United States |
| Headquarters | New York, NY |
| Year Founded | 2015 |
| CEO | Tyler Winklevoss |
| Total Employees | 101-250 |
| Regulators | New York State Department of Financial Services (NYDFS) |
| Links | Website, Crunchbase, Whitepaper, Source code, Twitter, Blog, LinkedIn |
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About The Author
Delton has been writing about blockchain finance & technology, decentralized applications, and crypto assets since 2017. His work has been published and featured by several independent news publications and blockchain projects.
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