Welcome to this post, where we are going to see how you can withdraw your money from Gemini to your bank account step by step.
Also, we are going to see how you can withdraw your cryptocurrencies to other platforms or to your wallet to have it in a more secure way.
Gemini, unlike other more complex exchanges, allows you to withdraw money directly to your bank account, in a simple way and without many steps. This is perfect to be able to withdraw to your bank account the benefits you have had in Gemini or other platforms or wallets, and send your cryptocurrencies to Gemini to later withdraw the money to your bank account.
From Gemini to your Bank Account
In order to withdraw your cryptocurrencies to your bank account, you must first sell your cryptocurrencies, as we saw in the guide on how to buy and sell in Gemini. In case you don’t know how to do this, you can see this guide on our website.
Once you have your currency in your Gemini account, we will go to transfer and withdraw from Gemini. When you click on this, you will see a panel similar to the one for depositing funds, but in this case for withdrawing funds.
With this, we select withdraw funds and indicate our currency. You can click on withdraw all funds if you wish. Click on continue, and now we must select the way in which we want to receive the money. There are two options, receive it in our credit or debit card instantly, with a commission of 0.55€ or by bank transfer, which usually takes between 1 to 3 working days. In case you do not have any payment method added, it is as simple as clicking on add and add the information.
With this done, we select the method, click on continue and confirm with the codes that Gemini asks you, and with this, the money will be on its way to our bank account.
From Gemini to your Wallet
You may want to withdraw your cryptocurrencies to your wallet or another Exchange, either to use them in DEFI platforms, keep them more secure with a control on your part of the cryptocurrencies in your wallet or other reasons. Let’s see how you can do it.
It’s as simple as going back to transfer and withdraw from Gemini. Here, instead of selecting our currency, we select the cryptocurrency we want to withdraw from Gemini to another wallet or exchange, for example Bitcoin. Click continue, and we will have to indicate the address in transfer to. Always keep in mind that you must select the same network as the address you have copied.
If for example you send it to another exchange, check which network is selected when you copy the address. The same goes if you use a wallet like metamask, if your address is on the ethereum network, make sure Gemini uses the same network to send this cryptocurrency. My recommendation is to always send a small amount to see if it arrives well and there is no problem.
Once you have selected the wallet and the amount, click on continue, and confirm the transaction with the codes you are asked for and that’s it. This way, you should receive in your wallet or other Exchange the cryptocurrencies you have sent.
I hope this has helped you to be able to withdraw your funds from Gemini to your bank account. In case you don’t have an account with Binance, you can create your account just below.