Step-By-Step Guide To Transferring Crypto From Gemini To Metamask
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Step-By-Step Guide To Transferring Crypto From Gemini To Metamask

The world of decentralized finance (defi) provides unlimited on-chain opportunities.

but there is only one problem. how do you get your funds? today, we will settle this once and for all.

Reading: How to connect gemini to metamask

this article will focus on using gemini as the main centralized exchange (cex) from which we will transfer tokens to metamask, the most popular hot wallet. Some other exchanges I use personally, and which are mentioned in this article, include Kucoin and Crypto.com.

how to finance gemini

To get started, we need to send funds (fiat currency like sgd or usd) from our bank account to a cex.

In this article, we use gemini because of the 10 free withdrawals per month which will come in handy later on.

However, it is also possible to send funds directly to other exchanges, such as crypto.com and ftx. there are 2 ways you can deposit funds on gemini.

  1. send sgd to gemini via fast transfer. you should receive the deposit in a matter of hours. buy btc or eth with sgd then sell it for usd. now, you can buy any other currency on gemini.
  2. send dollars to gemini via dbs remit (how i personally do it). take note while there are no transfer fees, there is a spread (around 0.75% based on last time I calculated). deposits typically arrive at the end of the day, before midnight, as they are cleared by a US bank.

once your funds are in gemini, you can start buying your favorite tokens to connect with metamask. but before that we need to make sure we have the relevant network added in mmtamask.

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you see, metamask only comes integrated with the ethereum network. this means that if you wanted to connect to the polygon network, you would have to add the network.

add custom rpc

Take polygon as an example. you can find the details here. this link also provides the details of bsc and avalanche mainnet.

These are the details you would need to enter into metamask to configure the mainnet. follow the screenshots below for a step by step guide:

here are the network details for harmony and fantom.

use the details in the first screenshot and paste as appropriate in step 3. once you have successfully added the polygon network you should see it in your wallet metamask when you click on the dropdown box.

you can do the same for other networks with the details I’ve linked above.

entry process

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now comes the important part where we finally move the tokens from gemini to metamask. to begin with, moving eth is the easiest.

you can simply withdraw eth or any erc20 token from gemini by pasting your metamask address in the gemini withdrawal tab.

In a few minutes, your tokens will be in metamask. using gemini i recommend buying your favorite coins using activetrader as the fees are lower.

For trades below $500,000, it is 0.35% for a market order (taker) and 0.25% for a limit order (maker). just go to settings > account and activate activetrader.

however, while sending eth is easy, this is not the case for the rest of the coins, and this is where kucoin and crypto.com come into play.

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You see, different tokens are available on different networks similar to how trains can’t travel on highways and cars can’t travel on railway tracks.

step by step entry guide (example using crypto.com)

for matic

step 1: buy matic on gemini with activetrader

Image credit: Gemini

Step 2: Send MATIC to Crypto.com

When withdrawing to crypto.com, make sure to copy the erc20 address from matic. at crypto.com, balances > matic > Deposit.

use the address under the erc20 network. this is important as it is the network that gemini uses.

step 3: remove matic from crypto.com to metamask

once the matic has been transferred, go to balances but choose “withdraw” this time. click on that and choose “external wallet address”.

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then you will have to “add withdrawal address”. at this point, be sure to paste your metamask address from the main network of the polygon. the label is for your own reference and can be named anything. you know you are transferring to the matic network when the transaction fee is 0.08 matic.

step by step access guide (using kucoin)

for bnb

step 1: since we can’t buy bnb directly on gemini, we can start by buying btc using activetrader

step 2: withdraw btc to kucoin using the bitcoin network

go to kucoin and there you can find the btc address by clicking “deposit” and choosing btc. there is only one address. paste that in gemini

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step 3: exchange for bnb in kucoin

once your btc has been deposited. go to trade > spot trading. there, choose the bnb/btc pair. you will want to sell btc for bnb. I recommend using the market order as it is faster and the fees are the same (0.1%)

step 4: withdraw bnb from kucoin to metamask using bep20 network

Copy the bsc address of your metamask wallet and paste it into kucoin. remember to choose bsc (binance smart chain bep20) for the network.

comments are not required if you post to your own metamask account.

exceptions

While most addresses can be copied directly from the metamask wallet and pasted into a cex’s withdrawal form, it’s slightly different for harmony.

for harmony, you’ll first need to paste the address you copied from metamask here. then you will paste the address starting with one1 into kucoin or crypto.com to withdraw via harmony network

fee summary

*Need to withdraw via AVAX (C-Chain)

Conclusion

The login process is difficult to implement due to the different networks of each chain. but I think this could become drastically easier as it defi gains mass market adoption.

also read: how to create a terra station wallet and send native $luna tokens from crypto.com, gemini

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