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Anonymous
I saw on seedly that Gemini fees were 0.35% so i wanted to try it out but when i try to buy eth on it its 4%. Can someone tell me why
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Bobby Lee
08 May 2021
Investor at Investor@Singapore
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Hi Anon,
Perhaps you're using your card to buy crypto on Gemini? There are multiple ways to buy crypto on Gemini. Linking your debit card to Gemini and using it to buy crypto incurs a transaction fee of 3.49% and a convenience fee of 0.50% so that's how you were charged 4%. It would be wise to deposit your money from your bank account to your Gemini account via FAST transfer, then use the money in your Gemini wallet to buy crypto. Using Gemini ActiveTrader will result in your transaction fee being reduced to 0.35%.
Cheers!
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Chris
08 May 2021
Owner and Writer at Tortoisemoney.com
I'm guessing you're on Gemini Basic? Gemini Basic charges a fee based on the following fee schedule:...
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3.0
38 Reviews
60+
CRYPTOCURRENCIES
($1.50 to 1.49%) + Convenience Fee
TAKER FEES (FIAT)
Free
WITHDRAWAL FEES (FIAT)
3.49%
CREDIT OR DEBIT CARD FEES (FIAT)
Yes
MAS LICENSED OR EXEMPTED
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You'll need to activate the Active Trader platform. It's under your account settings. :)