Gemini is... a crypto exchange in monitoring Masterforex-V traders

Gemini is a cryptocurrency exchange located in New York, USA. The trading platform is available to both private and institutional investors.

Let us note that from the first days of its creation, it has proven itself on the positive side and earned a good reputation. The project was created by two twin brothers Cameron and Tyler Winklevoss.

Today, these are the first official “bitcoin” billionaires. Their legal battle with Mark Zuckerberg received wide publicity. The brothers claimed that the idea of ​​the social network Facebook was stolen from them. The proceedings ended with a settlement agreement, under which Zuckerberg paid the Winklevoss compensation in the amount of $65 million.

Gemini cryptocurrency exchange was created in 2015. Initially, the platform was aimed at institutional investors.

At the same time, over time, private users also received the opportunity to trade.

After a year of work, management announced that it plans to expand its audience.

So, today, Gemini is available for use in countries such as the USA, Canada, and Great Britain.

Individuals and companies from the Asia-Pacific region can also trade.

Gemini exchange through the criteria of Masterforex-V analysts

Conducting auctions

The implementation of auctions is the main feature of the trading platform, since they are familiar to ordinary financial exchanges, but are innovations in the cryptocurrency sphere. Review and participation in them are available to all registered users entering a limit order or a special market, the main purpose of which is to conduct trading. The principle of their implementation is quite simple:

1. Participants fill out their orders at the selected price.
2. 10 minutes before opening, prices are transmitted to the service.
3. During the auction, participants monitor the price, raising bids if they are interested in purchasing.
4. If prices exceed bids, participants leave the auction.

The new price is calculated every minute (and before closing - every 15 seconds) based on the list of orders. Rounding the amount allows you to minimize the cost of slippage, which increases liquidity. The auction is available daily at 4:00 pm ET. The daily turnover of coins averages more than $1 million, and the most popular cryptocurrency remains Bitcoin. With the help of such a system, each trader can buy the required number of coins for fiat money.

Registration on the Gemini exchange

Registration on the Gemini exchange is simple and fast, it takes a few minutes. Immediately requires verification - confirmation of identity.

Registration is available at: exchange.gemini.com/register

The Gemini exchange does not work with all countries. When registering from some countries, the message “Not yet available” pops up and the addition: enter your email address to receive updates and news.

The Gemini exchange does not work with residents of Russia and Ukraine.

Russians and Ukrainians cannot register on the Gemini exchange.

Replenishment and withdrawal of funds

The rules of the gemini exchange imply a complete absence of commission for replenishing funds from the system. You can deposit money either by bank transfer or by depositing cryptocurrency. Transactions when withdrawing funds to the bank account specified during registration are subject to a small commission fee. This only applies to those users whose accounts are more than 10 months old.

You can withdraw funds through the Transfer Funds menu, which is located in your personal account, and deposit them in the Bank Transfer section. However, a one-time transaction cannot exceed $500.

Gemini dollar

The Gemini exchange offers pairs of digital currencies and pairs of digital currency and fiat currency for trading. The platform is licensed to work with American currency and allows you to deposit, withdraw, exchange and store it.

A special place in the structure of the exchange is occupied by its own currency – the Gemini dollar.

The Gemini dollar is a stablecoin that is not subject to volatility due to its 1:1 peg to the US dollar. For some traders this is a minus, for others it is a plus, because it means stability and predictability. Ticker: GUSD.

Among the advantages of Gemini dollar

• can be insured (up to $250 thousand) if stored in State Street Bank or Trust,
• There are no commissions when trading through the Gemini exchange.

Safety

During the implementation of this project, the main task of the developers was to create a completely safe and secure platform.

For this, Chem Paya, who was the former head of Airbnb's security service, was brought into the project.

In addition, he took part in the creation of Google Wallet.

The developers have implemented the following security levels:

• Multisignature.
• Cold storage of digital currency.
• Geographical distribution.
• Specially designed computers.

It is worth saying that multisignature is one of the main parts of blockchain technology, which allows you to ensure the protection of ongoing transactions.

When implementing “cold” storage of funds, most of the crypto fund is stored on devices that are not connected to the World Wide Web.

Moreover, computers are located in different regions of the country.

It should also be noted that the developers of the security system decided to use computers that were designed in a special way. They allow you to store cryptocurrency keys necessary to gain access to encrypted data.

Protection of user accounts is provided by two-factor authentication.

This must be completed by each user during the registration process.

To do this you need to provide your phone number.

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Gemini Exchange Assets

On June 15, 2021, the daily trading volume on the Gemini exchange amounted to 15.974 billion rubles – $220 million in dollar equivalent.

TOP 10 popular pairs on the spot market of the Gemini exchange (24-hour trading in $, data as of 06/15/2021):

1. BTC/USD – 81 million
2. ETH/USD – 50 million
3. AMP/USD – 38 million.
4. MATIC/USD – 10.4 million.
5. LINK/USD – 6.96 million
6. FIL/USD – 5.31 million
7. LTC/USD – 4.22 million
8. ETH/BTC – 2.90 million
9. DAI/USD – 2.63 million
10. BCH/USD – 1.74 million

What currencies can be staked and how much can you earn from it?

Staking is a convenient and low-cost way to earn passive income on cryptocurrency. Unlike mining through PoW. Using it, users store coins using the PoS algorithm on the exchange. The platform makes it possible to earn money by storing the following currencies:

1. 1inch – 1.51%.
2. Bitcoin – 2.05%.
3. Dai – 7.40%.
4. Litecoin – 5.10%.
5. Synthetix Network Token – 2.69%.
6. 0x – 3.68%.
7. Aave – 5.83%
8. Basic Attention Token – 3.49%.
9. Compound – 2.47%.
10. Ethereum – 3.05%.
11. Kyber Network – 2.58%
12. Decentraland – 1.80%.
13. PAX Gold – 3.92%.
14. Yearn.finance – 3.29%.
15. Bitcoin Cash – 4.55%.
16. Curve DAO Token – 1.98%.
17. Filecoin – 7.40%.
18. Chainlink – 4.46%.
19. Zcash – 1.75%.
20. Uma – 2.69%.
21. REN – 2.71%.
22. Amp – 1.98%.
23. STORJ – 1.98%.
24. Orchid protocol – 2.47%.
25. Balancer – 1.54%.
26. Schedule – 1.26%.

The number to the right of the coin name indicates the annual percentage of profit. This is the income the user will receive by staking cryptocurrencies.

Gemini Exchange Credit Card

Crypto exchange Gemini plans to release its own credit card. What is known so far:

• no annual subscription fee
• cashback on purchases up to 3%
• reward in cryptocurrency

Those wishing to receive a card must join the waiting line. Sign up at gemini.com/credit-card/waitlist

The estimated card issue time is the second half of 2022.

Gemini Exchange: reviews

As is the case with other cryptocurrency exchanges, reviews of Gemini vary widely, with some praising it and others vehemently criticizing it.

The advantages of the Gemini exchange include:

• high level of security;
• registration in the USA;
• good reputation;
• simple and intuitive website interface;
• insurance of clients' money;
• secure cryptocurrency storage services.

The disadvantages of the Gemini exchange include:

• no demo account;
• mandatory identity verification;
• Only English language on the site;
• registration is available only to residents of the USA, UK, Singapore, South Korea, Hong Kong and Canada;
• only the spot market, auctions are held, but they are for large players - institutional investors;
• a meager range of world currencies, even hard currencies.

Reviews about Gemini

The management does everything possible to ensure that customers are satisfied with the operation of the platform. Service is almost instantaneous.

Unlike most similar projects, there were situations here where employees canceled transactions.

This was explained by the fact that traders were playing an “unfair game.”

Speaking of technical support, it responds very quickly.

All problems that arise are resolved without any problems.

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Scandals with the Gemini exchange

The Gemini exchange rarely gets embroiled in scandals. Most often, her name appears in scandals related to the Gemini dollar stablecoin. Some large OTC players have complained about account closures after wanting to convert GUSD to fiat currency. They accused the exchange of unfair play and deception.

The exchange, in turn, announced dishonest play on the part of exchange players, who were well aware of the strict rules by which the site operates. The founders of Gemini, the Winklevoss twin brothers, assured that all exchange clients who bought GUSD have no restrictions on withdrawing the coin if they adhere to the rules. The actions of some clients threatened the stability of the stablecoin, so they were blocked.

The Winklevoss brothers regularly speak about the need for government control over the cryptocurrency market.

Features of Gemini

A distinctive feature of Gemini is that the resource allows trading in only two crypto funds – Bitcoin and Ethereum.

However, this limitation does not in any way affect the daily turnover.

The available indicators make Gemini one of the best in the world.

Unfortunately, the management does not yet focus on the Russian-speaking audience of users. Therefore, the interface of the trading platform is English. Gemini actively cooperates with the fairly profitable and popular gaming sports franchise Echo Fox.

The goal of this partnership is to attract digital assets to the sports sector.

It should be noted that the Winklevoss brothers set themselves the task of introducing BTC into absolutely all areas of human life.

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Gemini Exchange: Cold War with Facebook

The founders of the Gemini crypto exchange, the Winklevoss brothers, are well known from the film “The Social Network,” which reveals the history of the creation of Facebook. According to the plot, they were the ones who came up with a program for online communication, but Mark Zuckerberg intercepted it and was the first to implement it in the form in which it gained popularity.

The brothers and Zuckerberg later came to an agreement, which resulted in the payment of $65 million in fiat money and Facebook shares. The legal disputes stopped, but the resentment did not go away. The Winklevoss plan to create a completely new social network that will eclipse Facebook and continue to develop innovative digital technologies. In their opinion, the world is on the threshold of a new crypto-universe, and such centralized social networks as Facebook will soon sink into oblivion . The same goes for a centralized financial system.

In addition to the Gemini crypto exchange, the brothers’ major asset is the Nifty Gateway auction, which trades NFT tokens.

Pictured are the Winklevoss brothers.

Comparison with competitors (Binance and Huobi)

Cryptocurrency exchanges Binance and Huobi are among the leaders in terms of transaction volume on the Bitcoin network. The Binance platform was founded in China in 2022, and Gemini in 2015 in the USA. Some experts argue that sites that appeared later are more technologically advanced. In terms of popularity, these two exchanges are practically not inferior to each other. But more languages ​​are available on Binance, including Russian and Ukrainian.

Two exchanges have applications for Android and IOS mobile devices. Binance has more trading pairs and coins. They also pay almost the same attention to security. For residents of Russia and the CIS, Binance is more convenient to use. As for the Huobi platform, it was founded in China in 2013. It also has an app for IOS and Android. The site is available in several languages, including Russian.

Huobi platform has more trading pairs and coins compared to Gemini. It provides good security. The user rating of the Chinese exchange is significantly higher than the American one. It is more convenient for Russian-speaking traders.

Place of the Gemini exchange in the ranking of crypto exchanges in the world

The Gemini exchange ranks 5th in the popularity ranking for queries in the Yandex search engine. The number of requests with the word Gemini is more than 46 thousand per month.

Gemini is not among the TOP crypto exchanges in terms of trading volume and traffic due to the limited market and strict rules. Everything to comply with the license conditions for operating in the US market. A revolution needs rules - Gemini's motto.

The daily trading volume of the Gemini Exchange is $210 million in June 2022.

Number of weekly visits to Gemini Exchange – 429429.

Gemini exchange statistics.

Gemini Exchange Listing

The Gemini cryptocurrency exchange is considering the possibility of listing on the stock market following the example of Coinbase, whose securities are traded on NASDAQ (stock exchange No. 2 in the author's rating of the Masterforex-V Academy).

There is no exact information yet about the timing of the IPO of the Gemini crypto exchange.

Choosing a broker for trading cryptocurrencies

Trading on the stock exchange is popular, incl. the prospect of big earnings (see whether Masterforex-V Academy traders can earn 2000% per month). To get good financial performance, you need to follow the right strategy (see win-win accounts of Masterforex-V traders and their strategies).

The choice of broker is important. The major league rating of Forex brokerage companies from the Masterforex-V Academy is the 12 most reliable Forex brokers for safe trading.

Sincerely, wiki Masterforex-V - free (school) and professional Masterforex-V training courses for working on Forex, stock, futures, commodity and cryptocurrency exchanges.

Alternative projects

Gemini is one of the most popular cryptocurrency exchanges in the world. The only serious competitor is Coinbase, also of American origin.

At the same time, if we take into account the fact that Coinbase has had incidents related to the security of the platform, then Gemini is one step ahead in this matter.

Not long ago it became known that the Riot Blockchain company plans to launch its own cryptocurrency trading platform, which aims to become a direct competitor to Gemini.

For this purpose, the company acquired the brokerage firm Logical Brokerage.

Some experts suggest that it is quite possible to create competition. All that remains is to prove this in practice.

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