What Are Gemini’s Fees?

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. Users pay for the exchange’s safety and security.

If I had to choose an exchange that was the ‘safest’, I’d choose Gemini. Gemini has a lot of things going for it, including cold storage of cryptos that customers hold on the exchange. Other exchanges don’t do this, and can be subject to being hacked and having private keys stolen. Gemini is officially registered with New York state as a banking institution, meaning all deposits are insured by the FDIC up to $250,000. If you are a crypto trader living in New York, Gemini is one of the exchange options open to you. Keep in mind that Gemini does have the full know your customer (KYC) process, which is a bit of a pain.

Can I withdrawal fiat from Gemini into my bank account?

You can sell your crypto and withdrawal money into your bank account at any time on Gemini. Gemini operates in 60 different countries and offers withdrawals in USD, GBP, CAD, AUD, Euros, HKD, and SGD. For all other withdrawals into countries not using those currencies, you’ll likely face a conversion fee from your bank.

Gemini fees overview

There are several types of transactions that happen on a crypto exchange that the exchanges charge fees for. This can include buying crypto with fiat, selling crypto for fiat, trading one crypto for another, and depositing money. Gemini’s fees are less than Coinbase’s fees, but are more than Binance or KuCoin’s fees. It isn’t very hard to have fees less than those of Coinbase, though.

*For 10 or fewer transactions per calendar month. **For amounts greater than $200. See below table for lesser amounts.

Gemini Withdrawal Fees

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. This means you don’t have to pay network fees for a specific crypto. 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.

Gemini deposit fees

For depositing fiat currency onto Gemini, there are no fees unless you’re using a debit card to do so. If you’re using a debit card, the deposit fee is a whopping 3.49%- so try and avoid that if you can. If you’ve taken the time to go through the KYC process, spend a little extra time and connect your bank account properly. Fees like this can quickly add up- don’t use a debit card!

Gemini buying and selling crypto fees

Various network fees can apply to the buying of crypto with fiat or the selling of crypto for fiat. Gemini has a fee schedule for this. The fee amounts are based off of the transaction size.

My experience with fees

In the time I’ve spent in cryptocurrency, I have surely racked up hundreds of dollars in fees. If I could go back and visit my crypto-naive self, I’d tell myself to do everything within my power to avoid fees at every angle. I’ve used regular Coinbase quite a bit, and spent far too much on network fees, trading fees, withdraw fees, and ethereum gas fees. My annual returns would absolutely have been a few percent greater each year had I done this. With compound interest, this really adds up. Don’t let others get rich off of you because you don’t know the game!

Crypto is still crypto

Please note that cryptocurrency security does NOT protect from the general volatility of the market. Gemini is the safest exchange their is- and they charge healthy fees for it. But prices of cryptos will swing violently despite where you buy or hold them. Because the crypto space is still so small, it’s subject to some rough seas. No exchange, no matter how good, will protect you from that. If you’ve been in crypto for a while or are new to the space know that it’s a bit of a jungle much like the old American west. The frontier has outpaced the law, and much safety and regulation. Stay on the righteous path and think long and hard before making any transaction!

Share this

The Fear & Greed Index

  • Today Neutral 51
  • Yesterday Greed 61
  • One week ago Neutral 51
  • One month ago Fear 27

Related articles:

Subscribe To Our Newsletter

Get the latest news and insights from the crypto world.