Sell On Gemini
Gemini currently offers the option to sell 2 cryptocurrencies on it’s platform. Those are BTC and ETH. While this is not a big selection, they allow you to sell them for cash. This makes it a good on-ramp to the crypto world. This guide will go over how to sell on Gemini.
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Steps to Sell on Gemini
1. Go to the Gemini website and login
2. Go to the “Sell” tab
3. There are currently 3 choices. We can sell BTC for USD, ETH for USD, or ETH for BTC. In this example I am choosing to sell BTC for USD, so I select the “BTCUSD” option. It then takes me to the screen shown in the bottom screenshot. Note that this covers the “Continuous Orderbook” and not the “Auction” section for buying.
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 sell 1.25 BTC at $8,500 per BTC. This brings the total to $10,625 USD (before fees).
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!
5. Check the details at the bottom and make sure you are ok with the total cost of your order. Then click the “SELL” button.
6. Double check the details and then click “Confirm”
That’s all you have to do sell 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.
If you want to withdraw the USD you just received to your bank account, check out this guide on how to withdraw cryptocurrency and cash from Gemini!
Gemini offers a small selection, but the ability to convert to USD is a great feature. More exchanges will start offering fiat conversions in the future, so I’m sure Gemini will add more cryptocurrencies to stay relevant. Check out the exchange and wallet pages for more crypto related guides!