How To Transfer Your Crypto From Gemini To BlockFi

Last updated on January 1st, 2022

You may have bought some crypto on Gemini’s platform, and are considering sending that crypto to BlockFi to earn some interest.

But how do you go about doing it?

Here’s what you need to know:

How to transfer crypto from Gemini to BlockFi

Here are 7 steps you’ll need to take to transfer your crypto from Gemini to BlockFi:

1. Select the crypto you want to deposit on BlockFi
2. Obtain the deposit address of your cryptocurrency on BlockFi
3. Go to Gemini and select the cryptocurrency
4. Select ‘Withdraw’ to send your currency to another wallet
5. Select the amount of currency you wish to withdraw
6. Paste the deposit address from BlockFi as the destination address
7. Review the withdrawal before confirming the transaction

#1 Select the crypto you want to deposit on BlockFi

You’ll need to select the crypto that you wish to deposit onto BlockFi. First, you’ll need to go to ‘Deposit Crypto‘,

and then select the currency.

BlockFi allows you to deposit 13 different currencies on their platform to start earning interest.

#2 Obtain the deposit address of your cryptocurrency on BlockFi

After selecting the currency, you will see the address that you’ll need to deposit your crypto to.

There is this warning that any amount that you deposit which is less than a certain amount of that currency cannot be withdrawn.

Even though BlockFi claims they do not have any minimum deposits, you may not be able to deposit withdraw those small amounts you’ve deposited!

You can use 2 methods to obtain the wallet address:

1. Copy your Wallet Address to your clipboard
2. Scan the QR code

If you are copying the wallet address, it may be best for you to double check the address before sending!

#3 Go to Gemini and select the cryptocurrency

Once you’ve obtained the deposit address, you can now go onto Gemini’s platform.

You’ll need to select the cryptocurrency that you wish to deposit to BlockFi. This can be done in the ‘Portfolio’ section.

#4 Select ‘Withdraw’ to send your currency to another wallet

After selecting the currency you wish to transfer, you’ll need to select ‘Withdraw‘.

#5 Select the amount of currency you wish to withdraw

After that, you’ll need to select the amount of crypto you wish to withdraw.

#6 Paste the deposit address from BlockFi as the destination address

You’ll be asked to paste the address that you wish to send your crypto to.

You can either scan the QR code, or paste the wallet address that you’ve copied from BlockFi

#7 Review the withdrawal before confirming the transaction

You’ll be able to review the details of your withdrawal, before confirming it.

After the confirmation, your crypto will start being sent to BlockFi.

The withdrawal may take a while to reach your BlockFi wallet. This really depends on how active the network is at the point of your withdrawal request.

Once your crypto has been deposited onto BlockFi, you can start earning interest on your crypto!

Conclusion

Gemini is a great platform to send cryptocurrencies to another platform. This is because you will not be charged for your first 10 withdrawals per month!

As such, you can consider buying your crypto using Gemini’s Active Trader platform, before sending it over to another platform.

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Here’s what you need to do:

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