How To Withdraw From Gemini

This article explores the Gemini withdrawal process on the crypto exchange for investors looking to transfer their crypto assets from Gemini to other platforms. We explain step-by-step how to withdraw from Gemini in fiat and crypto. We also detail withdrawal timelines, fees, and limits required for transferring funds out of the cryptocurrency exchange.

Can You Withdraw from Gemini?

Yes, Gemini users can withdraw their funds from the platform to an external wallet or exchange. Gemini offers both crypto and fiat withdrawals like USD to a connected bank account. Below, we list some of the various withdrawal methods supported by the exchange:

• Withdraw crypto to an external wallet. Transfer digital assets to an online cryptocurrency wallet. Depending on the underlying network, this process has differing deposit times and applicable network fees.
• Withdraw money to a bank account. Convert Bitcoin and other crypto assets to cash and withdraw. This withdrawal method is available based on the user’s territory and the fiat currency selected. Bank transfers take time to confirm and are a little expensive on Gemini.

To learn more about the Gemini withdrawal methods, limits, and fees, read our full Gemini review.

How to Withdraw Money from a Gemini Account

1. Login to a Gemini Account

Visit the Gemini website and click on the ‘Sign In’ button on the top right-hand corner of the screen. Fill in the verified email address and password, complete the captcha exercise, and tap on the ‘Sign In’ icon at the bottom to access the Gemini account.

2. Go to the fiat withdrawal page

Once logged in, the account balance and crypto assets in their online Gemini wallet are shown in the far right corner of the screen. The next step is to locate the ‘Transfer’ icon on the top of the dashboard and tap on it. Then select ‘Withdraw from Gemini’ to access the withdrawal gateway.

3. Choose the fiat currency to withdraw

Once the transfer funds page opens up, select between fiat and digital currency for withdrawal. To do this, click on the ‘Currency’ button and select ‘Fiat Currencies.’ Then select the underlying fiat currency to withdraw (assuming there is an available balance).

4. Select the payment method and enter amount

The next step is to select a receiving bank account by tapping on the ‘Select Destination’ icon below. Then click on ‘Continue’ and tap on ‘Enter Amount’ to insert how much fiat to withdraw. To transfer all available funds, tap on the ‘Max’ button on the right side or manually input a preferred figure.

5. Complete cash withdrawal to bank account

The final step is to review the withdrawal request before confirming the transaction. The Gemini exchange will display the transaction details including the amount to be withdrawn, receiving account, applicable fees, and the timeline for receiving the funds in the designated account. Once this checks out, tap on ‘Request Withdrawal’ to finalize the transaction.

How to Withdraw Crypto on Gemini

1. Login to Gemini

Visit the Gemini website and click on the ‘Sign In’ button on the top right-hand corner of the screen. Fill in the verified email address and password, complete the captcha exercise, and tap on the ‘Sign In’ icon at the bottom to access the Gemini account.

2. Go to the crypto withdrawal page

Once logged in, the next step is to browse the cryptocurrency wallets with an available balance to withdraw to an external wallet or another exchange. Select the ‘Transfer’ icon at the top of the page. Then select ‘Send Crypto’ from the drop-down menu. This will automatically redirect them to the withdrawal hub.

3. Choose a cryptocurrency

The next step is to select a preferred digital asset. To do this, tap on the ‘Currency’ tag and select ‘Cryptocurrencies’ to streamline the result. If you know the ticker symbol of the asset, type it in and select the relevant popup to avoid scrolling through hundreds of options. The final step in this segment is to select a preferred network. Gemini only supports the original blockchain network a crypto asset was developed with. For instance, Tether (USDT) can only be transferred via the Ethereum network. Cheaper networks like Tron or Polygon are not supported.

4. Copy the receiving wallet address

The next step is to head to the receiving network and generate a wallet address to deposit the funds. The selected network must be the primary one and not a hybrid. Once the cryptocurrency has been located, tap on ‘Deposit’ and click on the ‘copy' button or scan the QR code on the generated wallet address. If the receiving platform is an exchange, confirm if it supports the original asset network before proceeding with withdrawal.

5. Enter the receiving wallet address on Gemini

After copying the wallet address, click on ‘Continue’ on Gemini and paste the wallet address in the ‘Select Destination’ dialog box. It is important to double-check the wallet address and incorrect details can result in a missing deposit. Once confirmed, tap on ‘Continue’ and click on ‘Yes, I want to proceed’ in the pop-up message on the screen.

6. Enter the amount of crypto to withdraw

Enter the amount and click on the ‘Continue’ button to proceed to the review stage. Ensure there are sufficient funds within the crypto wallet to pay for the blockchain network fees. Gemini will show the available funds that can be withdrawn.

7. Review and confirm the withdrawal

The final step is the review stage to check all the withdrawal details. Once done, click the ‘Request Withdrawal’ button to initiate the withdrawal. If a user has enabled 2FA, the exchange will send a randomly generated six-digit code on either the mobile device or an authentication app like Authy. This code will only be valid for four minutes. Once the code is inserted, the withdrawal will be processed, and the user will receive an email when the transaction is executed.

How Long Does It Take To Withdraw From Gemini?

The Gemini exchange operates using different withdrawal timelines for each supported payment method, as each payment method comes with unique needs and requirements. For instance, fiat-based transactions or withdrawals have to be directly processed into a customer’s bank account. This usually requires the cooperation of the customer’s bank, which will need to verify the user’s details within their operating hours. The Gemini withdrawal speeds for different methods are shown below:

Gemini withdrawal method	Withdrawal speed
ACH	6 business days
Bank transfer (SWIFT)	1 to 3 business days
Crypto transfer	Network-dependent

Fees To Withdrawal From Gemini Exchange

For fiat transactions, Gemini charges nothing for ACH transfers. On the other hand, bank wire transfers are principally charged by the bank, not the Gemini exchange.

Gemini fees to withdraw cryptocurrencies are categorized into dynamic and flat fees. The former applies to Ethereum withdrawals and all ERC-20 token standard assets. However, this excludes the exchange’s proprietary stablecoin, Gemini US Dollar (GUSD), which operates using the same ERC-20 asset standard. All ETH and ERC-20 token standard withdrawal fees are fluid and largely determined by the network activity when the transaction is initiated. This means individuals are charged at the time of withdrawal and do not know the fees upfront.

The flat fee system is assigned to non-Ethereum-focused cryptocurrencies. Like the dynamic fee, they are meant to cover network fees and are not directly paid to the Gemini exchange. For instance, users are charged 0.0001 BTC to withdraw Bitcoin, meant to cover the transfer. Assets besides Bitcoin also have their stipulated withdrawal fees. Another instance is Avalanche, which incurs 0.05 AVAX, while Dogecoin withdrawals incur a fee of 4 DOGE.

Are There Limits to Withdrawing on Gemini?

Gemini imposes a transfer limit on all withdrawals. However, this depends on the selected payment methods. For instance, ACH transfers have a $100,000 daily limit, while bank wire transfers are unlimited. The difference between both is that while ACH has no withdrawal minimum and is free, Gemini customers must withdraw a minimum of $50 and consider the bank charges.

Frequently Asked Questions