How do I sign up for a cryptocurrency exchange account at Gemini once my Rocket Dollar account is created?

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For an IRA LLC, once your LLC is created, you can use the LLC name and EIN to sign up for an account at Gemini, in the name of the LLC. For a Solo 401(k), open an account in the name of the plan.

 

How long will this process take?

Applications during low demand typically take two weeks. Applications during times of significant demand, such as an extreme dip or surge in crypto prices, can be much longer. Be aware of current market conditions and understand you could be applying at the same time as many other crypto investors and institutions. Extreme surges in demand can make applications time stretch to 6-10 weeks. 

 

When you finish your account application, please tell us here, so we can contact Gemini and they are aware they need to prioritize your application.

 

How do I start to sign up for my Rocket Dollar account at Gemini?

You will start all sign up on https://exchange.gemini.com/register/institution/admin

Create an Admin Profile

  1. Create a Rocket Dollar account, either an IRA LLC or Solo 401(k) 
  2. Gather your Rocket Dollar IRA LLC or Solo 401(k) documents from your client dashboard
  3. Click here to begin the Gemini Institutional Client Registration: https://exchange.gemini.com/register/institution/admin
  4. You will first register for an institutional account and password.
  5. Enter your home address or the one you signed up with a Rocket Dollar account. Rocket Dollar provides NO colorado business addresses for IRA LLC users, your IRA LLC is linked to your address provided at signup.
  6. Provide your ID pictures using the Onfido service.
  7. Verify your email address
  8. Add authentication. Gemini uses the App “Authy” as an authentication tool. Two-factor authentication is strongly recommended for a cryptocurrency service.

 

Fill out the Gemini Institutional Account Application

  1. Legal Entity Type: IRA LLC users should input NON-OPERATING COMPANY. Do NOT put retirement plan, unless you are applying with a Solo 401(k) from Rocket Dollar. IRAs are NOT retirement plans under ERISA laws. Non-Operating Companies, like a Rocket Dollar IRA LLC, do not have Power bills, real offices, or employees that operating companies are expected to provide.
  2. Company information: Provide your LLC name. 
    • Jurisdiction of Incorporation: CO (Colorado)
    • Federal Tax Classification: Limited Liability Corporation
    • Date of Incorporation: found in your documents section of app.rocketdollar.com/login. Look for the LLC
  3. Company Address: Input your home address, unless you provided another address at signup.
  4. Business Activities: 
    • Has the company raised funds, or is in planning to raise funds through an initial coin offering, security token offering, or initial exchange offering? NO
    • Is the company listed on a stock exchange? NO
    • Is the company a financial institution? NO
  5. Expected Initial Funding
    • Expected Activity: Answer these questions truthfully. These questions are required by regulation for anti-money laundering purposes. Your estimated activity should be as consistent as possible with your expected transaction volumes but need not be exact.
  6. Estimated transaction patterns: buy and hold is sufficient for most long-term investors here, or describe your behavior if you are a more active trader.
  7. Beneficial Owners
    • You are the beneficial owner of an IRA LLC. Please complete the Individual section (yes, even with an LLC) with your personal information. You are ultimately the beneficial owner of your IRA LLC or Solo 401(k) plan. Enter 100% for % Indirect Beneficial Ownership. You should be able to pick your own name from “suggested” owners.
  8. Control Person
    • Control Person - fill out the same information with your same personal information
    • Title - Manager. You are the IRA LLC Manger. Solo 401(k) users should put “Trustee”
  9. Company Documents: 
    • W9: IRA LLC users should Follow the instructions in this link. Mistakenly filling out this document can cause significant tax issues. Solo 401(k) users can follow these instructions.
    • Formation Documents: IRA LLC owners should download their IRA LLC formation letter as well as their EIN letter. Solo 401(k) users can download their plan formation documents. These can be downloaded at app.rocketdollar.com/login, and going to “documents”
    • Source of Wealth: The source of wealth should be as specific as possible for your situation, such as the name of an employer, employment verification letter, paystub, recent W-2, Linkedin Profile, etc. Describe how you make money outside your retirement accounts, and then you can mention this is coming from a retirement account. Create a PDF file or screenshot of these documents. Gemini and many crypto exchanges need to know this information for Know Your Customer regulations. Gemini also has additional compliance requirements to comply with the state of New York Bitlicense. This is the most common generator of FAQs in the application. If you pause your application process to ask questions about how or why a source of wealth is needed to Rocket Dollar, it will delay your application. If you are unsure or have privacy concerns, submit your application to Gemini, but be prepared to answer additional questions, or provide additional documents to the Gemini Onboarding team.
  10. Authorized Users
    • This section is for users who can log in to the account, and manage crypto assets. For crypto investments, security is paramount. An unsecured account can be drained quickly or in 24 hours by approving a private wallet. This section should likely be ONLY managed by yourself. Only consider adding trusted parties or family members if absolutely necessary. Rocket Dollar is not responsible for misplaced or stolen crypto assets, and all security responsibly falls on the user of the IRA LLC or Solo 401(k) as soon as someone leaves the US dollars cash and FDIC-insured bank account. Funds that have left Bank United are no longer covered by FDIC insurance. 

 

Can Gemini Prioritize my Application as I'm a Rocket Dollar customer?

When you finish your account application, please tell us here, so we can contact Gemini and they are aware they need to prioritize your application.

How do I get funds to Gemini?

Rocket Dollar does not have any move money control over your IRA LLC's or Solo 401(k)s checking account. After you authorize a rollover, our team helps our custodian pull from your old IRA and drop them into your partner bank account. Once your Gemini account is open, you can start a wire transfer. 

Make sure you continue to work with the Rocket Dollar support team to get your account funded, so you can move money from Bank United to Gemini once your Gemini account is complete. 

 

Crypto Exchange Basic IRA Flow

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