Crypto is taking the world by storm. In fact, it's estimated that over 16% of Americans have traded cryptocurrency at least once.
With the rising popularity of crypto, investors are noticing multiple new trading apps hitting the market. Each of the apps come with a variety of features, promotions, and available tokens.
Gemini, one of these apps, quickly gained attention for its vast security measures, crypto rewards credit card, and interest bearing accounts.
Crypto.com is another platform that comes with a plethora of features. They also tout a crypto debit card, interest bearing accounts, and over 250 tradable tokens.
For whatever reason, if you want to make the switch from Gemini to Crypto.com, then this is the article for you. Below we highlight the steps required to transfer from Gemini to Crypto.com.
The process to execute a transfer between the two platforms is actually quite simple. It takes just 3 steps:
Let's dive into each of these steps in more detail.
Crypto.com was designed to be more than a simple trading platform. They also offer members a metal visa card with up to 8% rewards and over 250 cryptocurrencies.
In order to send crypto from Gemini to Crypto.com, you will need a Crypto.com account.
If you already have a Crypto.com account, skip to the next step!
If not, here are the steps to open an account:
If your information is correct and your images are clear, this verification can be completed in as little as 5 minutes!
Crypto is held in a wallet. Each wallet has a unique address. When sending crypto from one location to another, you will need a location or wallet address to send it to. Additionally, each crypto has a unique wallet address.
If you want to send Bitcoin, for example, then you will need to ensure you are using a Bitcoin wallet. Or, if you are sending Ethereum, then you need an Ethereum wallet.
Sending a particular cryptocurrency to a non matching wallet could result in the loss of your assets forever.
Finding this crypto address in Crypto.com is easy:
You will use this address in the Gemini app to initiate a transfer from Gemini to Crypto.com.
When executing a transfer from Gemini, you could be charged a withdrawal fee. The platform allows up to 10 free withdrawals each calendar month. After 10 withdrawals, you will start to be charged for each transfer out of Gemini.
This fee varies by crypto. As an example, if you have already transferred crypto out of Gemini 10 times in the given calendar month, and want to transfer AMP out of Gemini, then you will pay a fee of 10 AMP to execute the trade. You can view Gemini's fee schedule at the link.
To transfer a cryptocurrency from Gemini, follow the steps below:
Be aware that you will not be able to withdraw cryptocurrency from Gemini until it has cleared. If you purchased a crypto in Gemini using a bank account, it takes 4-5 days to clear. With a debit card, it can take as little as an hour.
Transferring crypto is generally an easy process as each crypto has a unique wallet associated with the logged in member. This is certainly the case when transferring from Gemini to Crypto.com.
It is critical to ensure you use the correct wallet address. If you are transferring Bitcoin for example, and you accidentally copy and paste an Ethereum wallet, then your Bitcoin could be lost forever.
After copying and pasting the correct address, the process is as simple as tapping a few buttons!