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Written by Beau Jordan on January 26, 2022
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How To Transfer From Binance To Gemini 2022

Binance has certainly gained popularity in recent years due to its massive collection of cryptos - over 500 to trade!

However, the platform is not available to US citizens. Instead, US citizens can use their Binance.US version, though it is more limited in its available cryptos.

Because of this, you might be wanting to transfer your crypto assets to another platform.

Gemini is a great choice for many as it still has a large collection of cryptos. US citizens are also fully allowed to use the platform, which is an added plus. They also have exceptional security features.

One of the greatest callouts for Gemini’s security features is that a majority of your crypto is kept offline in a cold storage system. This is one of the safest ways to hold crypto as it limits risk to cryptocurrency hackers. 

Whatever the reason may be for wanting to transfer from Binance to Gemini, we will show you how to execute this transfer step-by-step!

How To Transfer From Binance To Gemini

The process for transferring your crypto from Binance to Gemini can be completed through 3 steps:

  1. Open and verify your Gemini account
  2. Locate your Gemini wallet address
  3. Send crypto from Binance to Gemini

These steps will be described in detail in the paragraphs below!

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1. Open A Gemini Account

gemini logo

Gemini enables cryptocurrency investors to buy, sell, and store cryptocurrency. This trading platform is one of the few cryptocurrency trading platforms that has never been hacked as security is the number one priority. 

Gemini has also built a reputation as an investing platform with a simple user interface, so it is considered to be beginner friendly in that sense. 

As with any crypto trading platform, Gemini does charge platform fees.

Since crypto fees are often complex and vary from crypto to crypto, the list of fees can be found on the official Gemini website.

The process to open a new Gemini account is straightforward and can be completed by following the below steps:

  1. Sign up for a Gemini account by clicking here!
  2. Create your account sign in. This is completed by providing your name and email address and then by creating an account password. 
  3. Verify your email address by following on-screen prompts.
  4. Set up 2FA (2 factor authentication) by providing your home address and phone number. You will also be asked to verify your phone number during this step.  
  5. Add a bank account or skip this step by clicking the “I’ll do this later” button in the top right of the platform. 
  6. Verify your identity by providing your legal name, address, date of birth, and social security number. This step is for user verification as well as for tax purposes. 
  7. Upload required documents to finalize the account setup. You can either upload a picture of your passport or a picture of your driver's license. 

After completing the above steps and uploading the required documentation, you will then submit your verification information for review. 

According to the Gemini website, verification typically takes 2-3 business days to complete. If the process is taking any longer you can contact customer support for help. 

2. Locate Your Wallet Address

Now it's time to locate the wallet address within Gemini for the crypto you are looking to transfer from Binance:

  1. There is a “Transfer” button in the top right corner of your newly formed Gemini account.
  2. From that point, click “Deposit into Gemini” to proceed. 
  3. You will use the dropdown menu to select the specific crypto that you are planning on transferring over to Gemini from Binance.
  4. You will then copy the unique deposit address for your account and that specific crypto.

Be sure to remember that you can only transfer over the type of crypto that you have selected at this stage.

If you attempt to transfer over a different crypto later during this transfer with that same deposit address, your assets will almost certainly be lost!

3. Send Crypto From Binance To Your New Gemini Wallet

binance-logo

Lastly, it is time to send your crypto over from Binance to Gemini:

  1. Open the app and click “Wallets” and then “Withdrawals."
  2. Click the cryptocurrency you want to transfer.
  3. Paste your Gemini unique deposit address and select the correct network (make sure the Binance network is the same as the Gemini platform or you will lose your funds).
  4. Finalize your transfer amount (at this stage you will also see the transaction fee and the total amount you will transfer).
  5. Click “Withdrawal” to continue and then “Confirm” when you have double checked everything.
  6. For security purposes, you will then need to verify the transaction on your 2FA (2 factor authentication) device.
  7. The final step is to patiently wait as your funds are transferring (confirmation time varies depending on network traffic and the crypto blockchain).

It is always a good idea to test this out with a small percentage of your crypto before transferring over all your assets. Sometimes it is just better to be safe than to be sorry!

However, be sure to consider the fees associated with Binance first before initiating a transfer.

Since the fees vary from crypto to crypto, you should check out their official website to learn more.

how to transfer from binance to gemini
Article written by Beau Jordan

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