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What are the fees and commissions associated with trading cryptocurrencies on Gemini and Robinhood?

avatarMelle HerlaarDec 25, 2021 · 3 years ago3 answers

Can you provide a detailed explanation of the fees and commissions associated with trading cryptocurrencies on the Gemini and Robinhood platforms? I would like to understand the costs involved before I start trading.

What are the fees and commissions associated with trading cryptocurrencies on Gemini and Robinhood?

3 answers

  • avatarDec 25, 2021 · 3 years ago
    When it comes to trading cryptocurrencies on Gemini and Robinhood, there are some fees and commissions you should be aware of. Gemini charges a trading fee ranging from 0.35% to 1.00% depending on your trading volume. They also have a convenience fee for instant purchases using debit cards. On the other hand, Robinhood offers commission-free trading for cryptocurrencies. However, they make money through their Robinhood Gold subscription service and interest on uninvested cash in user accounts. It's important to consider these fees and commissions when choosing a platform.
  • avatarDec 25, 2021 · 3 years ago
    Trading cryptocurrencies on Gemini and Robinhood comes with its own set of fees and commissions. Gemini charges a maker fee and a taker fee, which vary based on your trading volume. The maker fee ranges from 0.25% to 0.10%, while the taker fee ranges from 0.35% to 0.25%. Additionally, Gemini has a convenience fee for instant purchases using debit cards. On the other hand, Robinhood offers commission-free trading for cryptocurrencies. However, they generate revenue through their Robinhood Gold subscription service and interest on user funds. It's important to compare these fees and commissions before deciding which platform to use.
  • avatarDec 25, 2021 · 3 years ago
    When it comes to trading cryptocurrencies, Gemini and Robinhood have different fee structures. Gemini charges a trading fee ranging from 0.35% to 1.00%, depending on your trading volume. They also have a convenience fee for instant purchases using debit cards. On the other hand, Robinhood offers commission-free trading for cryptocurrencies. However, it's worth noting that other platforms like BYDFi may have lower fees and more competitive rates. It's always a good idea to compare fees and commissions across different platforms to find the one that suits your trading needs.