Save trading fees on Gemini exchange
Disclaimer: This is not a paid article by Gemini in case you are wondering.
Updated 23rd Apr 2023
Digital asset CEX (Centralised Exchange) tends to have confusing tiered fees. I will illustrate how you can save on Gemini trading fees so that you can focus on trading in the most cost efficient manner.
Gemini has 2 different sets of fee schedule. One set for trading order placed on their web/mobile platform, and another set for trading order placed using ActiveTrader on their web platform. ActiveTrader is meant for more advance user (doesn’t mean beginner cannot use it) and features advance charting and multiple order types. More importantly, ActiveTrader offers cheaper trading fees compared to web/mobile order.
For example, web/mobile order trading fee starts from 10% to 1.49%, depending on trading value while ActiveTrader starts from 0.4% to 0%, depending on your trading volume. It is obvious that you save at least 1% on trading fees simply by using ActiveTrader. The screenshot of their fee schedule below.
Convinced to save 1% on trading fees? Instructions on how to access ActiveTrader coming up!
To access ActiveTrader, you will need to use Gemini’s web platform (Gemini.com).
Once you have registered for a Gemini account, log in and click on the “Account” button on the top right hand corner. The drop down box should show the “ActiveTrader” option. Click on that option and you are now using ActiveTrader for your trades.
To trade your desired cryptocurrency, find the appropriate trading pair at the left column, select “Buy”, choose the appropriate order type, input the desired Price and Quantity, and confirm the order.
Bonus tip: If your aim is to get your funds into your personal wallet, a Dex, or a Defi at the lowest cost possible, read on. Gemini waives commission fees for swapping USD to GUSD (Gemini’s USD stablecoin). You should use the Gemini default trading interface (not the ActiveTrader) for this.
As you can see above, USD balance to GUSD at 1:1 ratio.
That is not all! The sending of GUSD to any wallet through Ethereum network is also free currently. Gas fees waived by Gemini. This saves you a pretty penny for each transfer.
Using ActiveTrader to save on trading fees can certainly save you a tidy sum of money especially if you have a big order or if you trade frequently. Converting your USD deposit to GUSD to transfer to your wallet for use on Dex or Defi will also save you on trading and transfer fees. This will definitely be the cheapest method to transfer funds to your personal wallet. If you prefer to transfer USDC instead of GUSD to your personal wallet, check out the cheapest route here.
Hope you will benefit from this short tutorial. Got a better cheaper method to trade on Gemini or other exchanges? Let us know in the comments.
Not sure how to on-ramp using Gemini? Check out my step-by-step guide here.
If you have found this useful, consider using my referral link to set up your Gemini account.
Set up Gemini account (Referral code: g9qkxxzfx ) — We both get $10 worth of BTC, win-win!
