Winklevoss twins creation Gemini – an in-depth review

Created by the Winklevoss twins, Cameron and Tyler, Gemini is a Bitcoin exchange based in New York City that promises a high-security service to Bitcoin users. Debuted on the 8th of 2015, Gemini has gathered the top security experts and financial professionals in the US to ensure Gemini stays secure. Funding accounts at Gemini can be done through Bank transfer (ACH) or with a wire transfer in the US. They have been working exclusively with American banks where your dollars can get insured with FDIC insurance.

The bitcoin exchange has been much anticipated before its launch on October 8, 2015. Since the announcement in January 2015, Gemini was introduced as a “fully regulated Bitcoin exchange in the US” for institutional and individual Bitcoin users. Its founders suggested Gemini could grow to become the NASDAQ or the Google of BTC. Ever since it had served 26 states in the US as well as the Washington DC.

Before its launch, Coinbase and itBits entered first into the market in January and May respectively. Coinbase raised $106.7 Million and itBits had $23.3 Million, but regardless of the headstart, Cameron Winklevoss believed Gemini still have the room for a better offer.

The company aimed to start simple and understandable. They did not offer discounts to new users as Winklevoss is looking for more elite clients. As he said in Coindesk, they are seeking for customers who are serious and not those who come for discounts. Users pay for what they get.

The founders stressed that Gemini is aiming to be the most intuitive and easy-to-use Bitcoin exchange in the US. They are going to achieve this through visualization. They created a cool color scheme and neat design by having more front and center. Also, to help users avoid small mistakes, they added alternative visuals for sellers and buyers.

The exchange’s trading volumes rapidly increased since the day it was launched. It had roughly 11,000 trades in its first three weeks and it ranked number eleven in the top 21 list of Bitcoin exchanges according to bitcoinity.org. Other Bitcoin exchanges who ranked better than Gemini are itBit, Bit-x, Coinbase, Bitstamp, and Bitfinex.

This year, Gemini continues to improve their service to their existing users and started enticing more new users by offering limited promotions. On March 11 this year, they offered $20 worth of Bitcoins free to first 500 US-based new users to sign up an account until March 14. Also, they improved their depositing process with the new Instant ACH feature where users can deposit their dollars for trading instantly.

Another new feature as requested by the users is having multiple bank accounts. Users can now link multiple bank accounts to their account for dollar withdrawals and deposits.

Early this year the exchange launched another version of their Activity feed feature. Gemini had been focusing on giving the users what they need when they need it. Now, Gemini shares relevant information that users might be going to need at a glance. One competitor BTC exchange which is also highly secure is Paxful. You can see the review of it here.

Trivia

The founders Cameron Winklevoss and Tyler Winklevoss were former Olympic rowers who became technology entrepreneurs. The twins became famous after they sued Mark Zuckerberg, the famous Facebook founder in 2004 claiming he stole their idea.

Leave a Reply

Your email address will not be published. Required fields are marked *