Gemini Exchange Proves Useful

Gemini is the Bitcoin exchange created by Cameron and Tyler Winklevoss, the twins of Facebook Social Network fame. They are angel investors with 40 companies under their belt. Gemini ranks as a top 10 exchange in terms of trading activity and volume traded. It’s headquartered in New York City with operations spanning in US 27 states, Canada and the United Kingdom, Gemini Trust Company, is a fully regulated, licensed bitcoin and ether exchange. The marketplace is open 24/7, and features the following pairs: BTC/USD, ETH/USD and ETH/BTC.

Gemini is meant for “institutional investors,” meaning big banks and the like. That being said That said, the exchange can also be used by individuals.

It’s a fairly straight forward exchange similar to other top ranking ones. Gemini’s competitive edge starts with it’s clean interface. It also employs good security and maintains stellar compliance. It’s assets are maintained in a proprietary offline storage system dubbed “Cold Storage.” Gemini has gone through the hurdles of obtaining necessary permits and registrations to operate as a fully regulated licensed trust company. The New York State Department of Financial Services has chartered Gemini as a limited-purpose trust company and holds them to specific capital reserve requirements and banking compliance standards.

You can trade immediately by placing orders to buy or sell at market prices or having the option to fulfill at future prices using limits, just like trading traditional securities on a brokerage account. It appears that although they appeal to institutional level trading, retail accounts are also accommodated on there.

Gemini Exchange Introduces Zero-confirmation Bitcoin Deposits

One of the major issues concerning Bitcoin is the amount of time it takes for Bitcoin transactions to confirm. Gemini exchange becomes one of the first in the world to allow zero-confirmation deposits. Withdrawals are currently confirmed quickly. They accomplish this by utilizing a fee algorithm, in which the exchange pays these costs out of own pocket. However they have not been able to solve the issue of long confirmations on deposits to the exchange because it can’t control transaction fees on deposit transactions.

Going Forward

While Bitcoin often is associated with illegal activity and the dark web Gemini attempts to flip that narrative. By following all the necessary regulatory and licensing steps to maintain it’s operations in the U.S. and the World Gemini along with it’s creators have created an exchange that allows investors to get involved with crypto currency safety and legally. The Winklevoss founders boast that Gemini adheres to the highest regulatory policies and capitalization requirements.