Buy On Gemini

Gemini currently offers 2 cryptocurrencies for purchase on it’s platform.  Those are BTC and ETH.  While this is not a big selection, they allow you to make purchases in cash.  This makes it a good on-ramp to the crypto world.  This guide will go over how to buy on Gemini.

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Steps to Buy on Gemini

1. Go to the Gemini website and login

2. Go to the “Buy” tab

Gemini buy tab and options

 

3. There are currently 3 choices.  We can buy BTC with USD, ETH with USD, or ETH with BTC.  In this example I am choosing to buy ETH with USD, so I select the “ETHUSD” option.  It then takes me to the screen shown in the bottom screenshot.  Note that this guide covers the “Continuous Orderbook” and not the “Auction” section for buying.

Gemini buy options, highlighted the ETH USD pair

Gemini buy screen for the ETH and USD pair

 

4. Choose your “Order Type” (1), input a “Price” (2), and input a “Quantity” (3).  In this example, I am placing a limit order to purchase 1.25 ETH at $680.90 per ETH.  This brings the total to $851.13 USD (before fees).

Entering order details to buy on Gemini

NOTE: Limit and Market orders are the most commonly used.  The different order types are explained in this graphic from Gemini’s help section.  Comment below if you have questions on any of these and I would be glad to clarify!

Different Gemini Order Types

 

5. Check the details at the bottom and make sure you are ok with the total cost of your order.  Then click the “BUY” button.    

Checking buy order details and then confirming

 

6. Double check the details and then click “Confirm

Gemini buy order confirmation screen

 

That’s all you have to do buy on Gemini.  Since this was a limit order, it may take some time to fill.  If we had placed a Market order it would have filled instantly, and the ETH would already be in our account.  There is an Order History section underneath where you place your buy order that will show the status of your orders. 

 

Summary

The Gemini exchange does not offer a lot of choices for cryptocurrency, but allowing purchases in USD makes up for it.  I would assume they will begin adding more cryptocurrencies as well to stay competitive.  A lot of people will likely buy on Gemini and then transfer to a personal wallet or another exchange.  Check out the wallet and exchange tutorial pages for more guides!

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