Question On Using Gemini.com To Purchase Bitcoins

R40 · 07-23-17, 06:09 PM

You want to place a market order. If you place a limit order, you will only get executed at the price you choose. It is kind of awkward at first if you used to using Coinbase but it is a lot cheaper. Everything works just as fast as Coinbase except the part about putting in the order. You kind of have to get the hang of it. Just make sure you are placing a market order otherwise it will just sit there.

TheMoneyShot · 07-23-17, 09:56 PM

Originally posted by R40

You want to place a market order. If you place a limit order, you will only get executed at the price you choose. It is kind of awkward at first if you used to using Coinbase but it is a lot cheaper. Everything works just as fast as Coinbase except the part about putting in the order. You kind of have to get the hang of it. Just make sure you are placing a market order otherwise it will just sit there.

One more question... after you use the MARKET ORDER feature... how long does it usually take to receive the bitcoins in your acct?

Thanks!

R40 · 07-24-17, 09:03 AM

Immediately. Then you have to transfer them as a second step. I think the default is limit order so make sure you have the right order type in. It has taken me a while sometimes to get both done when I could not figure out the hold up. You have to do it a few times to get the hang of it.

Memento · 07-24-17, 02:31 PM

Remember that Gemini requires your ach transfers to clear before you can send btc out to exchanges/books....so while it is an immediate deposit it will take 4-5 business days to move coins out. You can trade between between btc/eth/usd while you wait. It is much cheaper than coinbase for sure.

Gemini also puts the most recent buy price in for the limit price and that usually will get an immediate purchase but it could take a few minutes if the market moves on you.

TheMoneyShot · 07-28-17, 01:01 PM

Thanks for all the advice fellas. Been doing that 500 a day ACH. Did the 1st Sunday night... It's now Friday... original still didn't clear. Ain't no joke that it will take a full 7 days for each transaction to clear. Only pain in the a$$ it seems.

Was hoping to move some $ to a sportsbook before the FORK. That's not going to happen. Hope Gemini doesn't fuk me.

Memento · 07-28-17, 04:33 PM

Originally posted by TheMoneyShot

Thanks for all the advice fellas. Been doing that 500 a day ACH. Did the 1st Sunday night... It's now Friday... original still didn't clear. Ain't no joke that it will take a full 7 days for each transaction to clear. Only pain in the a$$ it seems.

Was hoping to move some $ to a sportsbook before the FORK. That's not going to happen. Hope Gemini doesn't fuk me.

It should clear today...did one Sunday also and it cleared today.

MeanPeopleSuck · 07-28-17, 04:47 PM

Originally posted by TheMoneyShot

Thanks for all the advice fellas. Been doing that 500 a day ACH. Did the 1st Sunday night... It's now Friday... original still didn't clear. Ain't no joke that it will take a full 7 days for each transaction to clear. Only pain in the a$$ it seems.

Was hoping to move some $ to a sportsbook before the FORK. That's not going to happen. Hope Gemini doesn't fuk me.

You're fine on the fork. Gemini just declared for BCC. You'll be awarded BCC on a 1 to 1 basis with your BTC.

TheMoneyShot · 08-09-17, 06:53 AM

Wow... this is absolutely insane.

So I purchased bitcoin from Gemini for roughly around $1,010.00

I sent it to my Blockchain wallet.

Then sent a quick deposit to Bookmaker for $1,005.00

They received it in 10 Minutes.

I still have $10.00 in my blockchain wallet.

I have $1,005 in my Bookmaker acct.

How is this even possible?

I gained $5.00 after all the fees... etc?

GEMINI RULES!!! They actually give you the best price on BTC!!!

Optional · 08-09-17, 01:54 PM

That's great to hear but remember it next time you end up 15 bucks down. As it's really the luck of the draw if the price is on an upward movement, downward movement or steady during the time it took to do the transfer.

R40 · 08-09-17, 01:58 PM

Originally posted by TheMoneyShot

Wow... this is absolutely insane.

So I purchased bitcoin from Gemini for roughly around $1,010.00

I sent it to my Blockchain wallet.

Then sent a quick deposit to Bookmaker for $1,005.00

They received it in 10 Minutes.

I still have $10.00 in my blockchain wallet.

I have $1,005 in my Bookmaker acct.

How is this even possible?

I gained $5.00 after all the fees... etc?

GEMINI RULES!!! They actually give you the best price on BTC!!!

I have had that happen with BetOnline because they give you a set price if you send them the coin within 15 minutes and they use a higher price than Gemini uses. It probably works in the reverse when you take a withdrawal.

TheMoneyShot · 08-09-17, 02:12 PM

Originally posted by Optional

That's great to hear but remember it next time you end up 15 bucks down. As it's really the luck of the draw if the price is on an upward movement, downward movement or steady during the time it took to do the transfer.

What was so odd... I kept on changing the order using their side pull down menu. Just looking for the price to reset and lower automatically. All of a sudden it dropped $7.00 on the coin... and I quickly placed the order. That must of helped? I quickly glanced at Coinbase's price and their price was around an extra $17.00 for a coin. So, Gemini pricing to BUY is very competitive.

Originally posted by R40

I have had that happen with BetOnline because they give you a set price if you send them the coin within 15 minutes and they use a higher price than Gemini uses. It probably works in the reverse when you take a withdrawal.

This was the first time that I ever sent a book a deposit that reached before their 15 minute time limit was up. Everything was automated on their end. Haven't done a bitcoin transaction in quite some time... possibly 75 days or so? I noticed blockchain has a new feature when sending a bitcoin transaction... you can send it regular at $0.16 or priority at $1.04 or something? So I sent it as a priority. Just food for thought. Probably didn't have to? But... I'm still satisfied. Hope other SBR posters take note of this. I also sent this transactions around 7:00 AM Eastern... possibly the bitcoin network was less congested?

Optional · 08-09-17, 02:16 PM

Good tip about getting the best price on Gemini

R40 · 08-09-17, 02:20 PM

Originally posted by TheMoneyShot

What was so odd... I kept on changing the order using their side pull down menu. Just looking for the price to reset and lower automatically. All of a sudden it dropped $7.00 on the coin... and I quickly placed the order. That must of helped? I quickly glanced at Coinbase's price and their price was around an extra $17.00 for a coin. So, Gemini pricing to BUY is very competitive.

This was the first time that I ever sent a book a deposit that reached before their 15 minute time limit was up. Everything was automated on their end. Haven't done a bitcoin transaction in quite some time... possibly 75 days or so? I noticed blockchain has a new feature when sending a bitcoin transaction... you can send it regular at $0.16 or priority at $1.04 or something? So I sent it as a priority. Just food for thought. Probably didn't have to? But... I'm still satisfied. Hope other SBR posters take note of this. I also sent this transactions around 7:00 AM Eastern... possibly the bitcoin network was less congested?

No, that was the first time you ever sent one that got credited within 15 minutes. It is there in seconds which you can see when you check the wallet address. Bookmaker may be giving price like BOL now. I have not sent them a deposit in a while. But BOL does not require a confirmation to give you credit. Bookmaker might not require it either.

It is pretty ridiculous of these books to require confirmations on bitcoin deposits.

TheMoneyShot · 08-10-17, 12:12 PM

Originally posted by R40

No, that was the first time you ever sent one that got credited within 15 minutes. It is there in seconds which you can see when you check the wallet address. Bookmaker may be giving price like BOL now. I have not sent them a deposit in a while. But BOL does not require a confirmation to give you credit. Bookmaker might not require it either.

It is pretty ridiculous of these books to require confirmations on bitcoin deposits.

Haven't made a deposit with Bookmaker in quite some time.... but from past research... these are the books that require at least 1 Confirmation:

5Dimes
Heritage Sports
Bookmaker
DSI
BetOnline

The only book that doesn't require a confirmation... and it's within seconds of sending Bitcoin is:

Bovada

TheMoneyShot · 08-17-17, 01:45 PM

This is odd... Gemini has been down since 1PM eastern. Almost 2 hours now. Do they typically do maintenance during business hours? Wow.