Yugocean
Valued Contributor
The Gemini exchange will no longer offer free cryptocurrency withdrawals as of June 15.
Only the first ten withdrawals per year were free; after that, fees were charged; however, the free withdrawal period now has ended.
On social media, many people are suggesting people to withdraw funds from Gemini before June 15th, and they are being reprimanded by Gemini supporters who are seeking to teach people that even banks are not free; earlier, Gemini paid the expenditures, but now they can't. However, the vast majority of people disagree.
According to the sources, Gemini is having financial difficulties, and the company just cut 10% of its staff due to unpredictable market conditions. As a result, it's unsurprising that they'll change their policy on free cryptocurrency withdrawals in order to make more money.
The logic against supporters is that exchange platforms profit from trading costs, and while some platforms, such as Binance, cover blockchain fees, charging extra is simply a greedy move by Gemini.
Only the first ten withdrawals per year were free; after that, fees were charged; however, the free withdrawal period now has ended.
On social media, many people are suggesting people to withdraw funds from Gemini before June 15th, and they are being reprimanded by Gemini supporters who are seeking to teach people that even banks are not free; earlier, Gemini paid the expenditures, but now they can't. However, the vast majority of people disagree.
According to the sources, Gemini is having financial difficulties, and the company just cut 10% of its staff due to unpredictable market conditions. As a result, it's unsurprising that they'll change their policy on free cryptocurrency withdrawals in order to make more money.
The logic against supporters is that exchange platforms profit from trading costs, and while some platforms, such as Binance, cover blockchain fees, charging extra is simply a greedy move by Gemini.
