Crypto
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2 mins read
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April 02, 2023
Gemini Fees: A Detailed Guide
Here’s the full breakdown of all fees charged by Gemini
You can choose from numerous crypto platforms and exchanges in the US. What’s important is to evaluate how much fees and what different kinds of fees they charge so it doesn’t put a dent in your pocket when you buy Bitcoin or crypto every time.
One of the US exchanges, Gemini, charges high fees to its users. Here’s a quick and detailed breakdown of all the different types of fees charged by Gemini and alternatives you can choose from.
Account Fees
Gemini doesn’t charge any fee for creating an account.
Trading and Transaction Fees
Gemini charges a dynamic base fee when you use ‘Instant buy, sell’ feature on its platform. Applicable for both transactions on mobile and web as well.
The dynamic fee is based on a combination of different components,
- Convenience fees
- Processing fees
- Spreads
Whenever you place an order on Gemini, you will see your fee in the trade preview section. Here, you get an estimate of how much you are charged —the expected fee ranges are as follows.
Note - above section only includes trading and transaction fees and additionally excludes fiat deposits/withdrawal fees
On the Gemini Active Trader section, the fee component is standardized, depending upon the users’ trading volume. It doesn’t include spread fees as the orders are placed and matched directly with its order book.
-
For market makers, the fee range starts from 0.1% (0 to $10k monthly trading volume)
to 0.00% (+ $500M)
-
For takers, the fee range starts ranging from 0.4%(0 to $10k trading volume)
to 0.03% (+ $500M)
-
For stable pairs, the maker and taker fees are standard 0.00% and 0.01%
, respectively
Earn fees
Gemini charges a net agent fee ranging from 0.06% to 0.429% ( depending on the coin) and it is subjected to change and modified by Gemini from time to time. The interest rates charge on the coin will deduct net agent fee.
Fiat Deposit and withdrawal fees
On Gemini, every payment method has its respective deposit and withdrawal fees and respective waiting time.
For quick transfers, you can use the following methods
Remember that the above charges are only for depositing fiat(USD).
For example, to buy crypto worth $100 via Debit card, you will have to pay a 3.49% fee for depositing USD and an additional trading fee(2.99%) to purchase crypto
.
Crypto Deposit and withdrawal fees
Gemini doesn’t charge additional deposit fees. For crypto withdrawals, you will have to pay standard network or withdrawal fees depending on where you are transferring your crypto from.
Custody fees
Unlike other crypto services, Gemini charges custody fees ( charges to keep your crypto assets on the platform).
Custody fees on Gemini are 0.4% annualized or $30 per month per asset, whichever is higher.
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Disclaimer - Please note that the information provided regarding various fees is sourced from official channels and is subject to change as per the evolving business requirements
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Crypto Platforms and Exchanges Fees and Charges
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Kunal Shivalkar
Kunal is a crypto native marketer and content writer
