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Written by Sam Pennington on June 30, 2022
Category: 
FTC Disclosure

How To Transfer From FTX To Gemini 2022

On November 11th 2022, the FTX cryptocurrency exchange announced a bankruptcy filing. This guide was written prior to the filing, which may impact user withdrawals and deposits. Please refer to the official FTX website for more information.

FTX is a popular crypto platform that offers members access to over 300 cryptocurrencies.

The company is based in the Bahamas, and its platform is available worldwide. However, due to US regulations, the full platform is not available in the United States. Instead, FTX has a unique platform available to US citizens, though this version of FTX is highly limited.

With this in mind, US investors may want to move their cryptocurrency to a different platform without limitations.

In this article, we cover all the steps required to transfer from FTX to Gemini. Let's jump right in!

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How To Transfer From FTX To Gemini

Transferring crypto assets is actually a fairly simple process as it is stored in digital wallets.

In order to transfer from FTX to Gemini, follow the steps below:

  1. Open and verify your Gemini account
  2. Copy Gemini Wallet Address
  3. Transfer From FTX to Gemini

Each of these three steps have a few important nuances - let's review them now in more detail.

1. Open A Gemini Account

gemini logo

Gemini is a top cryptocurrency platform that offers members the ability to buy, store, and sell cryptocurrency. The platform supports over 50 coins!

Because cryptocurrency is held digitally, it is often the target of hacking. Gemini is actually one of the few platforms to have never been hacked. Security is a top concern for the company.

Creating an account with Gemini is pretty simple. You can create your new Gemini account with the steps below:

  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 submitting your application, your account will go through verification. This can take as long as 2-3 business days, though it is often completed much sooner.

2. Copy Your Gemini Wallet Address

Now that you have opened and verified your Gemini account, it is time to locate your crypto wallet address.

Each crypto has a unique wallet address, so it is imperative that you copy the correct one. For example, if you want to transfer Bitcoin, but you use an Ethereum wallet, then you could lose your crypto forever.

Follow the steps below to locate the desired crypto wallet:

  1. ​There is a “Transfer” button that you will click in the top right corner of your newly formed Gemini account
  2. Tap the section “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 FTX
  4. You will then copy the unique deposit address. This address will be pasted into the FTX platform to submit the transfer

3. Transfer From FTX to Gemini

Now that you have a Gemini account and you have located the correct wallet address, you are ready to initiate the transfer.

Before we jump into those steps, there are a few things to be aware of.

First, in order to send crypto out of FTX, you will need to set up your account with 2FA through Google Authenticate. Both iPhone and Android users can download the Google Authenticate app.

Second, when you transfer crypto from one platform to another, there are typically fees involved. This is true when transferring from FTX to Gemini. You can view applicable fees on the FTX withdrawal fee page. FTX pays a majority of fees for their members, though for withdrawals, you will pay a small fee for every transfer.

Steps To Transfer From FTX To Gemini

  1. Open and log in to the FTX app
  2. Tap on the "Wallet" button in the bottom navigation menu
  3. Tap "Withdraw"
  4. Type in the search bar for the crypto that you would like to transfer to Gemini
  5. Enter in the amount you would like to transfer
    • You can tap "Max" if you want to transfer all of that particular coin
  6. Paste in the address you copied from Gemini
  7. Paste in the 2FA code
    • Use the Google Authenticate app to create a 6 digit 2FA code. This requires leaving the FTX app and opening the Google Authenticate app. After generating a 6 digit code, copy it and return to the FTX app. Paste in the code you just copied in the "Withdraw" screen you were on previously
    • If you need additional information regarding 2FA set up with FTX, you can view their 2FA set up page
  8. Tap "Withdraw" after double checking that the information you have entered is correct

After you have clicked "Withdraw," you can check on the status of the transfer by clicking on the "Withdrawals" tab within the wallet page on FTX.US.

Once the transfer is confirmed, you will receive an email informing you of the finished withdrawal.

Transfer From FTX To Gemini: Final Thoughts

Moving crypto from FTX to Gemini is an easy process. After creating an account with Gemini and verifying your account, you can easily initiate a transfer.

This process is completed by copying the wallet address for the desired crypto in Gemini and then pasting it into FTX's platform.

If you want to learn more about Gemini, be sure to read our complete review.

Article written by Sam Pennington
Sam is a personal finance writer. While in college, he dedicated his spare time to learning about personal finance, investing, and real estate. Sam currently works as a business analyst for one of the top food manufacturers in the world.

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