Cheapest Way To Buy USDC On Gemini Exchange

DCV - December 6, 2021


Hi, this article will detail how I purchased USDC on the Gemini crypto exchange at the lowest rates. Gemini recently added USDC to their portfolio of currencies and this is the process I used to save some money while purchasing USDC with fiat.

Buying USDC on Gemini Mobile App

First, let me show how much it would cost to purchase USDC on the Gemini mobile app.

Here, I've selected USDC and tapped "Buy". I select "One Time Purchase" and input $1,000 dollars of USD. I'll select "Buy Only" and use my USD balance to purchase the USDC.

Before confirming, Gemini shows me how much it charges for the transaction fee. For a purchase of $1,000, I will be charged almost $15. This is a rate of about 1.5% of the transaction.

Using Gemini Web App For Purchase

The solution to avoid this large fee is to use the Gemini web app in the browser. I navigate to gemini.com and go to my account settings.

In the trading interface section, the default option selected is the basic interface. I want to switch this to "ActiveTrader".

Then, I'll go back to the Gemini Exchange.

Now, with this Active Trader interface, I will search for USDC to trade for. I select the USDC/USD pair, make sure I'm on the Buy page, and then input the amount of USD I want to swap for USDC.

In this case, if I want to swap $1,000 the transaction fee comes out to about $3.50. As a result, I save $11.50 on my transaction. If the transaction was much larger, I would save even more. All that's left to do is to click the "Buy" button. And that's it.

Here is the YouTube version of this video:



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