How do I withdraw money from my Gemini savings account? To reach customer service, you need to raise a ticket via the app or website and wait to be answered. Gemini do not provide a contact telephone number or live chat function. This section contains useful information to make your experience at Gemini as seamless as possible. To give you an indication of the fees and number of coins offered at Gemini, I have provided this table. Many cryptocurrency exchanges will charge a withdrawal fee so the 10 free withdrawals is a welcome addition here. There are too many coins to list all these fees here but this information is available on the Gemini website. Over and above that amount you will be charged a small fee which is calculated according to the cryptocurrency you are withdrawing. Withdrawals are totally free for the first 10 withdrawals you make each month. Deposit feesĪll deposits into your Gemini account are free of charge unless you are using a credit card. This amount is in line with most of the competition. This can fluctuate according to the market however it will usually come in around 0.5% of the market price and is included in the price when you place an order. This is the spread Gemini charges above the trading price and is in addition to the transaction fee. These fees can add up over time should you start to trade frequently although, as you gain experience, it is possible to reduce these significantly by moving to the Active Trader platform which offers reduced fees. The full details of transaction fees is outlined in the table below: Total Transaction Amount What you are charged will depend on the amount that you trade unless you are trading crypto for crypto in which case you will be charged a flat fee of 1.49%. This is the fee you will pay every time you buy or sell crypto on Gemini. From the app, you can easily manage all aspects of your Gemini account as well as trade, store and spend on the go. It has scored a very respectable 4.7 out of 5 on the app store which is no mean feat and testament to the great design and easy to use interface. Gemini have taken all your crypto needs fully mobile with the Gemini app. Gemini Pay can be used at over 30,000 locations free from any transaction fees.However, at this time, Gemini Pay is only available in the United States and Gemini have no plans to roll this feature out across other countries. Whilst I still believe crypto to be too new to use for everyday purchases, Gemini have put this possibility in place should you feel inclined. This comes at a cost of 0.4% of your holdings each year. This is the cold storage system offered by Gemini, keeping your digital off the network and thereby ensuring their safety. Gemini’s ActiveTrader Platform provides a number of advanced features which should satisfy most experienced traders. This is the advanced platform for more professional traders with advanced charting, multiple order types, auctions, and block trading. It offers 1:1 transferability back to USD guaranteed and comes with a savings account provided by BlockFi with interest rates of up to 7% APY. This is a USD backed stablecoin that can be used for spending, lending, and investing. Of course, there is always a slight risk when it comes to lending your crypto and I wouldn’t recommend this for anyone who is a complete beginner although for people holding a substantial amount of crypto this does represent a way of making your holdings earn whilst you retain complete control of your digital assets. How safe is this? Well Gemini have partnered with Genesis to offer this and all borrowers are vetted and obliged to return funds according to the terms of the agreement. The rate of interest is up to 8.05% APY depending on the type of coin you hold. Gemini Earn provides scope for you to earn interest on your crypto holdings by lending it to institutional borrowers.
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