Anyone who’s traded ethereum or any ERC-20 tokens before knows this is a big deal! If you’re withdrawing fiat from Gemini, there is no fee as long as you’re withdrawing less than 10 times per calendar month. This means you don’t have to pay network fees for a specific crypto.
#GEMINI FEES FREE#
If you’re withdrawing cryptocurrency from Gemini into a hardware /software wallet or a crypto account on another exchange, this is free for the first 10 withdraws in a calendar month. *For 10 or fewer transactions per calendar month. It isn’t very hard to have fees less than those of Coinbase, though. Gemini’s fees are less than Coinbase’s fees, but are more than Binance or KuCoin’s fees. This can include buying crypto with fiat, selling crypto for fiat, trading one crypto for another, and depositing money. There are several types of transactions that happen on a crypto exchange that the exchanges charge fees for. For all other withdrawals into countries not using those currencies, you’ll likely face a conversion fee from your bank.
Gemini operates in 60 different countries and offers withdrawals in USD, GBP, CAD, AUD, Euros, HKD, and SGD. You can sell your crypto and withdrawal money into your bank account at any time on Gemini. Can I withdrawal fiat from Gemini into my bank account?
#GEMINI FEES FULL#
Keep in mind that Gemini does have the full know your customer (KYC) process, which is a bit of a pain. If you are a crypto trader living in New York, Gemini is one of the exchange options open to you. Gemini is officially registered with New York state as a banking institution, meaning all deposits are insured by the FDIC up to $250,000. Other exchanges don’t do this, and can be subject to being hacked and having private keys stolen. Gemini has a lot of things going for it, including cold storage of cryptos that customers hold on the exchange. If I had to choose an exchange that was the ‘safest’, I’d choose Gemini. Users pay for the exchange’s safety and security. TL DR- Gemini charges 1.49% for crypto trades, no fees on bank deposits and withdraws, a 3.49% fee for using a debit card, and a 0.5% fee for buying crypto.
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