To the uninitiated, Gemini is just a cryptocurrency exchange that is owned privately allowing users to sell, buy, trade, or store Bitcoin- and other cryptocurrencies. This cryptocurrency was launched 6 years back by Tyler and Cameron Winklevoss.
This privately-owned cryptocurrency has a tiered service with different interfaces and fee structures for investors and most hard-core traders. Winklevoss’s cryptocurrency already has a payment app, a mobile app, and its own currency. Interestingly, the Gemini dollar is a stable coin that is attached to the USD.
Special Features Of Gemini
Similar to every other currency exchange in existence, Gemini is used for those users who trade currency pairs in about 20 different combinations. Most of these combinations involve the USD, the BTC, and sometimes, the ETH. The cryptocurrency functions on the foundational principles of liquidity, security, and trust- where the currency exchange offers its institutional and retail customers a stand to sell, buy, and store digital currencies in a far secure and regulated environment.
The Gemini exchange works throughout the day- barring a window for the occasional maintenance. The process is quite similar to an online broker where the standard market order on this crypto exchange is filled immediately with the best possible market price at that very moment.
The currency exchange also provides one with a vast majority of limit orders. These include immediate or-cancel. Maker or- cancel, and AO limit orders. Every single order sent through this currency exchange has to be fully funded- for the exchange is not conducive towards margin trading which competitors like Kraken veer towards.
Customers will also be able to transfer coins from their previous cryptocurrency wallet to an account on Gemini, and the other way round. In order to deposit their crypto coins, the customer needs to install an exclusive deposit on the platform of this currency exchange.