Crypto investors may be looking to move some or all of their tokens from Coinbase to Gemini for a number of different reasons.
Gemini has some of the best security features in the industry when it comes to crypto storage, for example. When you invest through Gemini, 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 Coinbase to Gemini, we will show you how to execute this transfer step-by-step!
The process for transferring your crypto from Coinbase to Gemini can be completed through three steps:
These three steps will be described in detail in the paragraphs below!
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Gemini enables investors to buy, store and trade cryptocurrencies.
This exchange is one of the few cryptocurrency platforms that has never been hacked. This means that Gemini’s security precautions are working.
Gemini has also built a reputation as an investing platform with a simple user interface. However, Coinbase has a very simple and easy to use platform too.
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:
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.
Now that you have opened and verified your Gemini account, it is time to locate your crypto wallet address.
You will have a different address for each type of cryptocurrency that you hold within Gemini. Each one is 100% unique, and mixing them up could result in the loss of cryptocurrencies. You need to make sure you send Bitcoin to a Bitcoin address only, for example.
Here's how to locate your wallet address on Gemini:
Last step, time to send your crypto from Coinbase to Gemini:
It is always a good idea to test the above steps by transferring over a small percentage of your crypto before transferring over all your assets. However, be sure to consider any applicable fees before doing so.
Sometimes it is just better to be safe than to be sorry!
If you are looking to move multiple different types of cryptocurrencies from Coinbase to Gemini, you will need to repeat this process (step 2 and 3) for each different one.