Gemini Exchange Not Affected By Crypto Winter
“We’re totally at home in crypto winter”, says a confident Tyler Winklevoss when explaining to Bloomberg the current state of Gemini Exchange. The Winklevoss Twins are using the extended cryptocurrency bear market to improve their exchange’s features and strength. Does Gemini have a good reason for optimism as “the Winklevii” suggest?
Gemini Exchange Gets Better During Crypto Winter
This time last year, Gemini exchange was seen by most as an upstart competitor to the Coinbase platform. Many in the crypto community were miffed at Coinbase’s fees, and that the exchange giant rolled over to the IRS when it subpoenaed user trading records. Gemini was seen as a safe haven for these Coinbase critics. Since then, it has turned into so much more.
Gemini exchange is stronger today than at any other time in its history. In fact, the company just released the Gemini mobile app for iOS and Android. It represents full exchange functionality for all mobile users. This functionality, you’ll be happy to hear, is also enhanced when compared to the Gemini of a year ago.
The Gemini app allows users to trade all of the currencies sold through Gemini. Portfolios are neatly managed, and the app also serves as a high-quality crypto wallet for all coins in the mix.
Users can also take advantages of price alerts, recurring purchase commands, and a new “basket” order type that is, for all intents and purposes, equivalent in effect to the Winklevosses’ aborted crypto ETF. With basket orders, users can “Buy the Cryptoverse”, getting a bundle of cryptocurrencies proportioned according to market cap. Of course, this basket order can’t be made through conventional retailers as an ETF would, but it offers the same convenience of this product, for those willing to do the extra workaround of using Gemini exchange.
As for how exactly Gemini is thriving amidst this extended market downturn, the Winklevosses seem glad for being given time to focus on platform development. “Cryptocurrency never sleeps so it’s important for us to make it easy for our customers to engage with it wherever they are and whenever they want… It gives us time to build internally, and refine and kind of catch our breath”, they said.
The Twins plan to spend 2019 adding new users to their app and desktop platforms, especially in Asia. The Winklevii see Asia as a major new market, one with untapped hundreds of millions of potential customers not well served by another regulation compliant exchange.
Only time will tell if the Winklevoss Twins have as much reason for confidence as they project to the media, but we’re always happy to see positive developments from trusted brokers, as these will serve the community well when the crypto bulls return.
Featured image source: Flickr