gemini high fees

Fee re-calc. Some fees may be incurred depending on the method and the bank you’re sending money from, though. Limit Buy 500 BTC @ $10,000. Fees. For more information on mobile fees, see our mobile fee schedule. r/LitecoinMining You can unsubscribe with one click. I guess this is ok, because they apparently do it all the time. So how much would it now cost to sell 1 BTC for USD on Gemini? Gemini’s default exchange interface streamlines the trading process, making it much easier for beginners to navigate and operate. [–]JeramiGrantLow Crypto Activity 7 points8 points9 points 3 years ago (1 child). Gemini’s interface fucking SUCKS. In this post, I’ll review the Gemini exchange, along with its services, fees and more. While Gemini’s mobile and web trading fees are on the higher side, you might want to think about trading through the platform’s ActiveTrader or API solutions. Gemini imposes a transaction fee, which varies by country. [–]ThosixRedditor for 7 months. You haven't earned anything and you haven't lost anything until you sell. Gemini is a great exchange but I'll still stick to Bitfinex, since low volume is not a good sign. They charge no reservation or cancellation fees and only a 25% or less trading fee. Gemini currently supports only REQ fiat pairings can’t come soon enough. For example, both platforms charge an estimated 0.50% fee per trade and $2.99 for a purchase using $100. and join one of thousands of communities. With Gemini, you can deposit and withdraw real dollars, without any hiccups – as long as you abide by their verification processes. For some use cases, Gemini is cheaper than Coinbase. Your Gemini account also doubles as an insured hot-wallet, which means your funds are easily accessible but also safe. You can correct innacurate link-flair assignments by typing the name of a flair label in a top-level comment and in full caps, e.g. r/OpenBazaar Gemini just increased their fees by 400%. [–]EnglishWopGold | QC: BTC 38 0 points1 point2 points 3 years ago (0 children). Are the fees high on Gemini Exchange? Well Gemini now charges 1%.. A wire transfer costs $30, but ACH is free.. They closed my account and kept my funds. [–]QuantainiumTrader -5 points-4 points-3 points 3 years ago (0 children). Gemini high fees. Ethos is guaranteeing the lowest fees in the industry. Anyway, I bought the crypto, fee was pretty high, $26 on a $500 buy, and then had to wait I … Although they did not list many cryptocurrencies to begin with, Gemini now has a selection of more than 45 coins and tokens that can be traded on the exchange. [–]EmersonEtemBronze 0 points1 point2 points 3 years ago (0 children). TRADING. The advantage when using either of these platforms is that you have the option to trade your cryptocurrencies in exchange for fiat currencies. Coinbase charges about 1.49% for sales of bank cards and 3.99% for purchases using a credit card or debit card. There are six tiers representing different amounts of Bitcoin or Ether bought or sold. Web Fee schedule -- https://gemini.com/web-fee-schedule/. REDDIT and the ALIEN Logo are registered trademarks of reddit inc. π Rendered by PID 31542 on r2-app-08bfff44043cacaf2 at 2021-05-19 18:44:10.533280+00:00 running 9385e0c country code: FR. Users can pay for their goods and services using any one of several major cryptocurrencies in their Gemini account, using the Gemini mobile app. I am sure they want a much business as possible, but they are working for building the biggest and strongest exchange that is robust to fill the void right now in compliant and reliable exchanges needed for institutional clients to get involved. If you purchase crypto using a debit card, you will incur an additional 3.49% fee. Cryptocurrency withdrawals are free for all coins and tokens for up to 10 withdrawals per calendar month. I just mean someone will spend 10,000 in fees if they are about to lose 50,000 otherwise. This is also known as the Dynamic Maker-Taker Fee. Gemini's infrastructure is massive (relative to the industry). r/Ethfinance Based in New York, they took a route that most others were desperately trying to avoid: regulation. There are also transaction fees and an inactivity fee to be aware of. Gdax has it issues, but it's interface is a million times better than the Gemini interface. [–]richyboycaldoKarma CC: 349 BTC: 1005 ETH: 777 25 points26 points27 points 3 years ago (0 children), [–]intertronPlatinum | QC: CC 251, BTC 55 3 points4 points5 points 3 years ago (0 children). Get an ad-free experience with special benefits, and directly support Reddit. Gemini charges two types of fees: a trading fee on each trade executed on the platform, and a transfer fee for each transfer of funds from one account to another. What the fuck are they thinking, [–]ThehydeparkkidRedditor for 9 months. Probably someone who doesn't want to lose $50,000. Before launching the exchange, it became a fully compliant and fully registered enterprise, and it held the highest levels of both capital reserves and compliance to banking standards. To determine which fee schedule is right for you, find our products and their corresponding fee structures below. AirSwap marketplace soon to launch. Feeless. Deposit and withdrawal fees, however, are cheap on Gemini. Gemini also offers all of their core services through a mobile app, which is available on both iOS and Android. They'll lose my business for this, thats for sure. Aside from the missing live chat support, Gemini’s overall customer service has the most lines of communication I’ve seen from a cryptocurrency exchange platform. Gemini’s current convenience fee is set at 0.50% of the current market price of the coin that you’re buying. Full details on fees can be found in the Gemini FAQ section. Looking past the issues, Gemini is a secure and insured exchange. Call the SEC. Users can buy, sell and store their crypto on the go, as well as set price alerts for their crypto assets. yes that's the problem with GDAX, it's not widely available for the world to use. From looking at the example on the website, the fees aren't pro-rated, meaning if you buy $1,000,000 worth of BTC, you'll end up paying $10,000 for that trade. Kraken and Gemini are both well-regarded cryptocurrency exchanges based in the United States that has grown in popularity in recent years. Both Gemini and Coinbase have fairly high fees for buying, selling, and trading cryptocurrency. GDAX, even Binance’s interface is 100x better. Gemini Exchange Fees There are two types of fees on this platform; trading fees and transfer fees. It looks like their revenue has dropped so they need to either increase their volume or increase the fees. I sent money, they took it and I received BTC. It's more expensive than gdax but coinbase itself has very high fees too. 67% of retail investor accounts lose money when trading CFDs with this provider. Fee re-calc. These types of platforms are known as “Fiat Gateways”. Whether or not that’s worth the extra hassle and fees, well, that depends whether you prefer your security over your anonymity. The fees from moving fiat are different then the fees for actual trading. Gemini is on the verge of releasing its own credit card in 2021, which will be available across all 50 US states. Taker 0.35%. That amount of fees is just so pathetic, who would want to pay $10k just for fees? Gemini also supports multiple fiat currencies including USD, AUD, CAD, EUR, GBP, SGD and HKD. I wasn't aware that Minnesota had no GDAX. Liquidity-making Orders are charged different fees than liquidity-taking Orders. Overall, the Gemini platform is very nicely designed to enhance user confidence. TAKER FEE MAKER FEE AUCTION FEE FEE PAID 30-DAY TOTAL; Day 1 @ 4PM. [–]TermiFaptor -3 points-2 points-1 points 3 years ago (1 child), same with GDAX, Bitfinex and coinbase, it is a trading platform where you can process your trading with crypto currency and will charge u a trading cost per transactions for using their platforms. 1 point2 points3 points 3 years ago (0 children), Dang this is the first I’ve heard of this, [–][deleted] 1 point2 points3 points 3 years ago (0 children), [–]ThosixRedditor for 7 months. Your actual Convenience Fee may be greater or lower than 0.50% due to price movement in the market between the time we provide you the Quoted Price and the time your Web Order … Unfortunately, neither of the two exchange platforms offers a large number of cryptocurrencies. Essentially you will pay 1% no matter what on your first trade of the month. Deposit and withdrawal fees, however, are cheap on Gemini. [–]daddyneedsmoohlahCrypto God | QC: VEN 226, BTC 34, CC 21 5 points6 points7 points 3 years ago (1 child). 0.15%. Ridiculous. The ‘Winklevii’ continue to strive to build a world-class exchange of digital assets. High trading and financing fees; ... Fees: Gemini fees are considerably higher than other exchanges and CFD brokers. LTD© All rights reserved. The company's 1.49% transaction fee on orders over $200, … 4 points5 points6 points 3 years ago* (3 children). [–]jimsturkeyRedditor for 6 months. This includes a 0.50% convenience fee on all trades, which is charged on top of regular trading fees. Just saying.... [–]ThosixRedditor for 7 months. Wow, that's crazy. Gemini charges 0.50%, so it's a fair bit higher than industry average. r/GPUmining. Many now see it as one of the most—if not the most—legitimate trading platforms in the world. Gemini doesn’t charge any fees to deposit. Fees are slightly better on their advanced exchange service, ActiveTrader, which has taker fees starting at 0.35% and maker fees as low as 0.25%. That’s pretty heavy. Some major exchanges, such as Binance, don’t have direct BTC-to-USD trading, so you have to use Tether’s ‘USDT’ (or other supported stablecoins) instead. Gemini is a cryptocurrency exchange most famous for being founded and owned by Cameron and Tyler Winklevoss, the twin Olympians who sued Mark Zuckerberg over Facebook. ActiveTrader Fee schedule -- https://gemini.com/activetrader-fee-schedule/. Crypto Devs The increase in fees isn't shocking. They’ll freeze your account if you try to withdraw crypto you have on their exchange. This sub, and other crypto subs, are dangerous echo chambers where most bearish posts are downvoted into oblivion. The trading fees range from %0.5 to %1.49 which is above the industry average. Daily videos sent straight to your inbox. I've never seen such a poorly designed UI before. The trading fee equals 0.35% for takers, which is significantly higher than industry average. Yes, trading fees are relatively very high on Gemini compared to other popular cryptocurrency exchanges. For the regular trader the active trader fees ranges from 0.25% to 0.15% 9 What is an "ITA" fee? Gemini Custody™ accounts are regulated as a New York State trust company, insured for up to $200 million, and provide same-day withdrawals for trading on Gemini’s exchange. 99 Coins International PTE. Welcome to /r/CryptoCurrency. r/EthTrader We hate spam as much as you do. Gemini charges two types of fees on its platform: Trading fees, which are charged on trades conducted by traders on its platform. It seems like no one is working there. This makes Coinbase’s fees actually look quite expensive by comparison. TRADINGGemini just increased their fees by 400%. These Include: You can view a list of all cryptocurrencies currently supported by Gemini here. [–]Spellorion 35 points36 points37 points 3 years ago (3 children). Several fiat currencies are accepted on Gemini Exchange. [–]Vehemoth 6 points7 points8 points 3 years ago (1 child). Warning: Background mining), IBM's ZeroToBlockchain (Free learning resources), r/Altcoin Unfortunately for Gemini, the exchange currently has a “poor” average rating on Trustpilot, with what appears to be a lot of unhappy customers. That’s Gemini in a nutshell. Gemini claims that GUSD sees a high turnover and redemption rate compared to other stablecoins, proving that they are highly liquid and reliably redeemable. Auction-Only (AO) Limit Buy 1,000 BTC @ $10,000. I really love their interface and switched to them from GDAX after the BCASH debacle in Dec. This includes simple line charts (no candlesticks! Very poor customer service. [–]MakeMeHappyAgainSilver | QC: CC 37 5 points6 points7 points 3 years ago (0 children), [–]happylittledancer123Tin 0 points1 point2 points 3 years ago (0 children). … If you place an Order that is filled immediately, this Order takes liquidity from the marketplace and, therefore, you are considered a taker and will be charged a taker fee. It also uses a proprietary cold storage system, and has insurance for assets in custody. [–]JeramiGrantLow Crypto Activity 8 points9 points10 points 3 years ago (4 children). Day 2 @ 4PM. Gemini Fees. In addition to the various fees listed below, Gemini charges a convenience fee when you place a trade, 0.50% of the market price. The interface is also a dark theme by default, which is easier on the eyes and caters to users trading around the clock. The trading fees are charged on all trades that are conducted by traders on the exchange, also known as dynamic maker-taker fees. $10,00. This includes a 0.50% convenience fee on all trades, which is charged on top of regular trading fees. Cheaper then what, ACH/Interchange fees? I do not recommend Gemini. [–]douser21Redditor for 7 months. Gemini vs Coinbase: Fees. Probably preparing for big payouts. Both platforms charge an average flat fee of approximately 0.50% per transaction. Be careful and stagger your trades. This represents the Gemini market price of $4000 USD, plus the 0.50% Convenience Fee (Gemini market price × 1.005). Be careful and stagger your trades. Lastly, the exchange also allows you to make instant crypto purchases using a debit card. I think it actually favors high frequency traders vs high volume long term investors (like institutions). 1 point2 points3 points 3 years ago (0 children), I think they are trying to copy Bitfinex when the latter eventually requires the traders of their platform a 10K USd Initial Deposit. When Alice enters her buy Mobile Order for $100 USD, the Transaction Fee of $2.99 USD is displayed on her mobile application along with the total BTC amount of 0.02413184 (($100 USD -$2.99 USD)/$4020 USD = 0.02413184 BTC) that she will … There is a 3.49% fee applied to your order when you initiate a purchase with a debit card. [–]bendy_straw_ftwMonero fan 2 points3 points4 points 3 years ago (0 children), Oh come on. Platinum | QC: BTC 332, CC 133 | r/Buttcoin 5 | TraderSubs 253. It's better to buy 5 BTC, 5 BTC, 90 BTC, 900 BTC, etc. Apparently they hike up the fees when buying or selling on the Gemini mobile app. [–]Nickoli1983 0 points1 point2 points 3 years ago (0 children). [–]crnulus6 yr account, > 45k karma 1 point2 points3 points 3 years ago (0 children), [–][deleted] 9 points10 points11 points 3 years ago (0 children). Only if less than 10ETH per month and .001 after that. For those who want to safely store large amounts of crypto for the long-term, Gemini also provides a cryptocurrency custody service called Gemini Custody™, allowing individuals and institutions to safely store their assets. Otherwise i'm stuck using Gemini since GDAX isn't available in my state. Gemini is a New York-based cryptocurrency exchange that is recognized for its safety and being compliant with US laws and regulations. Intermittent high volume traders will be hurt the worst unless they step up their daily volume before large trades. r/Blockchain It would be best if you use bank transfers instead. [–]douser21Redditor for 7 months. There are however fees to be aware of, including maker, taker and auction fees that vary depending on the 30-day trading volume. [–]Nucka574 19 points20 points21 points 3 years ago (4 children). [–]gizram84Platinum | QC: CC 173, BTC 102 1 point2 points3 points 3 years ago (0 children). Regardless, they gotta be making a killing. It is one of the few major cryptocurrency exchanges that has never been successfully attacked. Gemini is a solid exchange with a reputation for being safe, secure and compliant with regulations. Geez. That being said, Kraken is the obvious winner in this category. Yeah bud, they are scamming you out of your 40 cents. Rendered by PID 31542 on r2-app-08bfff44043cacaf2 at 2021-05-19 18:44:10.533280+00:00 running 9385e0c country code: FR. [–]gizram84Platinum | QC: CC 173, BTC 102 0 points1 point2 points 3 years ago (2 children), [–]ThosixRedditor for 7 months. 4 - 5 years account age. Gemini has fewer coins available on its exchange than Kraken or Coinbase, and fees are closer to what Coinbase charges. r/BitcoinMining So people who want a market to trade on are better off on gdax. The twin brothers brought Gemini to the world in 2015, and they used a very different approach to building a cryptocurrency company. It currently supports over 20 different cryptocurrencies with more than a hundred trading pairs traders can c… This is closer to what you see on other exchanges, showcasing a complete suite of trading tools including candlestick charts, limit orders (and other order types), order books and depth charts. eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. As expected, you can also freely withdraw your cryptocurrency balances directly to your own wallet. Gemini Dollars are pegged 1:1 to the US dollar, with reserves being regularly verified by an independent accounting firm. Really clunky switch between buy and sell books. It’s known for having a rigorous coin listing process, as well as providing insurance on user deposits. Depending on the volume traded, an additional transaction fee … r/XMRtrader Any other suggestions? I could not spend, or transfer, or withdrawal said BTC, so I requested my funds to be returned. For a complete look at the most current Gemini fee schedule, click here. Fair. r/CryptoTechnology Whether or not these are effective for resolving significant issues, however, is another question. Their UW and fiat gateway are releasing this quarter. But if you're talking more than $3000 on each buy, then yea a wire transfer at another exchange would be cheaper than Gemini using ACH. For most of these reviews, the main issues stem from slow customer support, difficult identity verification processes, and accounts being frozen upon being funded: Most of this seems to be due to very strict know-your-customer (KYC) processes, and perhaps an inability to handle high customer support traffic. If you meet our requirements and want custom flair, click here. 0 fees. Bought DOGE to move funds with cheap transfer fees but the withdrawal attempt caused them to freeze my account. From looking at the example on the website, the fees aren't pro-rated, meaning if you buy $1,000,000 worth of BTC, you'll end up paying $10,000 for that trade. 125 - 250 comment karma. Gemini vs Coinbase: Which Offers Better Security? [–]QuantainiumTrader 16 points17 points18 points 3 years ago (2 children). It also appears that users frequently run into issues because Gemini allows users to deposit funds before being fully verified, but will not allow withdrawals until KYC is complete. Users can currently sign up to join the Gemini Credit Card waitlist. Please make quality contributions and follow the rules for posting. hate this man. Gemini is your best bet if your goal is to save as many fees as you can. [–]MF_Price -4 points-3 points-2 points 3 years ago (0 children). Finally, Gemini have their very own stablecoin – the Gemini Dollar (GUSD). API and ActiveTrader fees. The card will allow users to earn up to 3% rewards on each purchase in the form of cryptocurrencies, and will charge no exchange fees for crypto rewards. Really? 0.25%. If you have your eth on the exchange is there any way to get it off without getting scammed by them now? You may also deposit fiat currency via domestic or international wire transfer, or via ACH bank transfer if you’re based in the United States. Be careful and stagger your trades. Lol. But which one should beginners use? I found it very simple to use. CryptoCurrencyMemes, r/Bitcoin r/Ethereum r/Binance r/Ripple r/Tether r/Dogecoin r/Cardano r/Polkadot r/Uniswap r/BitcoinCash. 300 - 1000 comment karma. Day 1 @ 7PM. I was curious if AirSwap will have fiat onramping. Gemini has waived their deposit fees for bank transfers (thanks to Plaid), wire transfers, and crypto transfers. This is ridiculous. Wire transfers including ACH payments are free when depositing and withdrawing from Gemini, while debit card transfers are subject to a flat rate of 3.49% of the total purchase amount. [+]PeakLL comment score below threshold-6 points-5 points-4 points 3 years ago (3 children). 0.25%. this is to weed out small traders and only have large volume traders use their exchange. If you want a more detailed review keep on reading, here’s what I’ll cover: The Gemini bitcoin exchange was devised by a famous pair of twins, Cameron and Tyler Winklevoss. Anybody not using GDAX as their FIAT gateway is doing it wrong. I think we're talking about two different things. [–]bittabetPlatinum | QC: BTC 332, CC 133 | r/Buttcoin 5 | TraderSubs 253 4 points5 points6 points 3 years ago (0 children). To everyone going through a tough time, here’s some bubble wrap to relieve some stress: Megathread: Cryptocurrency market falls significantly in 24 hours, This crash may have put us right back on track to repeat a 2017 bull run, I've been into crypto for a long time, let me explain how this sub and the wider crypto world really works. It would be best if you use bank transfers instead. If email support doesn’t cut it for you, Gemini offers a customer support phone number, Twitter support, and even a physical address for mail-ins. Gemini was one of my last on ramps available, I’m banned from Coinbase/GDAX. This information is useful for new traders who still haven’t filled their wallets with altcoins of any sort. Last thing to consider: Before depositing funds with Gemini, I would recommend that you ensure that you are comfortable handing over a large amount of personal information (including social security number and passport details), as well as confirming that you are fully eligible for opening an account with them. Although there is no live chat support, their email support service is known to receive very prompt replies – often within hours. Gemini Clearing™ is an over-the-counter (OTC) desk for cryptocurrency trading, which allows parties to settle trades off the exchange. Fiat currency withdrawals can be made using wire transfers or ACH , however you can’t withdraw to a debit card. [–][deleted] 2 points3 points4 points 3 years ago (0 children), as a minnesotan I now can't buy anywhere for under 1% :( , No Gdax here, [–]Nickoli1983 5 points6 points7 points 3 years ago (3 children). In the half-a-week it took them to unfreeze my account, DOGE dropped 25% taking a quarter of my money with it.

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