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There are maker and taker fees that decrease the more you trade. When you use the ActiveTrader option, you’ll find that their fee structure is very similar to Binance. Other than that, you’ll pay a flat transaction fee: Order Amount 50% above the Gemini market price for a particular coin. The amount of the transaction fee depends on the amount of money you spend and the platform you use to trade (phone, website, or ActiveTrader). Gemini exchange fees are more complicated, as you’ll pay a convenience fee and a transaction fee. They have a fee for using your card as well, but it’s only 3.49%, which is actually cheaper than Binance. You can transfer cryptocurrency onto Gemini for free, and you also won’t have to pay for an ACH or wire transfer. You also get a 25% discount when using BNB, which is Binance’s crypto token. If you want to get around this, you can always find an exchange with a lower fee and then transfer your coins to Binance for free.Ĭryptocurrency exchange rates on the platform are. You can use a card, but it will set you back 4.5%. If you use an ACH or wire transfer, you can deposit onto Binance for free. They have one of, if not the, best fee structures in the crypto world. If you’ve read articles here before, you know that one of the biggest reasons I love Binance is their low and straightforward fees. Gemini (with a little Coinbase thrown in for reference) to see how a platform with higher fees could still save you money long-term. As a case in point, let’s look at Binance vs.
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The main thing to consider is how those fees get applied. This isn’t to throw shade at these people…you’ve probably seen the same thing on this site before.įees aren’t a bad way to pick an exchange, especially if you have a lot of coins or trade in high volumes, but low fees aren’t the end all be all they used to be. Given all the love for Binance on every crypto website, it would seem like an easy choice. Gemini for example.Īt first glance, you’d think Binance would win a comparison because of Gemini trading fees, which are higher for most traders. In a way, yes…but it’s a bit more complicated than choosing the exchange with the lowest fees and opening an account. Are fees everything? Should they really be the deciding factor when choosing which cryptocurrency exchange you should use?