Jump to content

Gemini (company): Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous editNext edit →
Content deleted Content added
VisualWikitext
m Remove unknown {{Infobox website}} parameter
m Adding history
Line 19: Line 19:


Gemini is one of the few trusted by Ari Paul of the hedge fund [[BlockTower Capital]] which deals in virtual currency.<ref>https://www.nytimes.com/2017/12/19/technology/bitcoin-winklevoss-twins.html</ref> In mid December 2017, Gemini was one of the exchanges<ref>https://qz.com/1150212/bitcoin-exchanges-coinbase-and-gemini-experience-system-issues-as-btc-price-surges/</ref> used by [[Cboe Global Markets]] "as the basis for the daily settlement for the bitcoin futures that began trading this week", according to a report by [[Bloomberg News]] for [[Fortune (magazine)]].<ref>http://fortune.com/2017/12/12/winklevoss-twins-bitcoin-futures/</ref>
Gemini is one of the few trusted by Ari Paul of the hedge fund [[BlockTower Capital]] which deals in virtual currency.<ref>https://www.nytimes.com/2017/12/19/technology/bitcoin-winklevoss-twins.html</ref> In mid December 2017, Gemini was one of the exchanges<ref>https://qz.com/1150212/bitcoin-exchanges-coinbase-and-gemini-experience-system-issues-as-btc-price-surges/</ref> used by [[Cboe Global Markets]] "as the basis for the daily settlement for the bitcoin futures that began trading this week", according to a report by [[Bloomberg News]] for [[Fortune (magazine)]].<ref>http://fortune.com/2017/12/12/winklevoss-twins-bitcoin-futures/</ref>

== History ==

In October 2017, Gemini announced that it was allowing registered users to withdraw [[Bitcoin_Cash|Bitcoin Cash]] from the exchange provided they had a balance available on the exchange prior to the Bitcoin hard fork in August 2017.<ref name="Gemini">{{cite news |url=https://gemini.com/blog/bitcoin-cash-bch-withdrawals/ |title=Bitcoin Cash (BCH) Withdrawals |work=Article |publisher=Gemini Exchange |date=2017-10-07 }}</ref>

In March 2018, Gemini which is founded by the Winklevoss twins said that their main goal in 2018 was to add Bitcoin Cash and Litecoin.<ref name="Bloomberg">{{cite news |url=https://www.bloomberg.com/news/articles/2018-03-08/winklevoss-twins-say-crypto-exchange-wants-to-offer-more-coins |title=Winklevoss Twins Say Crypto Exchange May Offer More Coins |work=Article |publisher=Bloomberg |date=2018-03-08 }}</ref><ref name="Bitcoin News">{{cite news |url=https://news.bitcoin.com/adding-bitcoin-cash-and-litecoin-is-main-goal-of-2018-for-gemini-exchange/ |title=Adding Bitcoin Cash and Litecoin Is Main Goal of 2018 for Gemini Exchange |work=News Article |publisher=Bitcoin.com News |date=2018-03-11 }}</ref>


== Service disruptions ==
== Service disruptions ==

Revision as of 15:33, 21 March 2018

Gemini.com
Type of site
Private
Key peopleCameron Winklevoss (Co-founder), Tyler Winklevoss (Co-founder)
IndustryCryptocurrency
ProductsBitcoin and Ethereum Exchange
Employees51 (February 2018) [1]
URLwww.gemini.com
Current statusActive

Gemini is a digital currency exchanger started by the Winklevoss twins in 2015.[3][4][5] In June 2016, according to CNBC report, Gemini became the world's first licensed ether exchange. It has begun operations in Canada and U.K.[6] Primary competitors include Coinbase, Bitstamp and Kraken. All enable users to trade cryptocurrency and fiat currency on an open market, at a moderate cost; transfers to banks are also possible.[7]

The operation began in order to facilitate buying Bitcoin and storing it safely in a password-protected site with a complex system of private keys for protection. As an added measure, only a small percentage of the Bitcoin is held online, with the majority offline to minimize the risk of loss from hacking.[8] Nonetheless, experts recommend holding cryptocurrencies offline in a Wallet and not on an exchange. The site Profit Confidential addressed this issue as follows:

To be perfectly honest, there is no yes or no answer to the “Are Ethereum exchanges safe” question. Going purely on past records, they are safe though exchanges like Poloniex have been hacked. This does not make Poloniex any less safe than the others. People who hack exchanges are constantly upgrading their methods, and likewise, the exchanges are trying to stay a step ahead. The best bet is to use offline storage of ETHs once the transaction is complete.[9]

Gemini is one of the few trusted by Ari Paul of the hedge fund BlockTower Capital which deals in virtual currency.[10] In mid December 2017, Gemini was one of the exchanges[11] used by Cboe Global Markets "as the basis for the daily settlement for the bitcoin futures that began trading this week", according to a report by Bloomberg News for Fortune (magazine).[12]

History

In October 2017, Gemini announced that it was allowing registered users to withdraw Bitcoin Cash from the exchange provided they had a balance available on the exchange prior to the Bitcoin hard fork in August 2017.[13]

In March 2018, Gemini which is founded by the Winklevoss twins said that their main goal in 2018 was to add Bitcoin Cash and Litecoin.[14][15]

Service disruptions

The site's primary challenge has been remaining online at times of excessively high volumes.[16] This can occur with any type of web site in peak periods. On November 28, 2017, for example, both Gemini and Coinbase crashed for several hours. Gemini was showing a "504 gateway time-out" message, and the status page showed "Systems are currently experiencing degraded performance."[17] Subsequently, the Gemini Blog offered this comment. "This is not the first scaling challenge we’ve encountered, and it won’t be the last. We’re continuing to improve our performance and infrastructure monitoring so we can anticipate potential problems more quickly in the future."[18]

References

  1. ^ "LinkedIn employees".
  2. ^ "gemini.com Site Info". Alexa Internet. Retrieved 2018-02-23.
  3. ^ "With Winklevoss Bitcoin Exchange, Digital Currency Grows Up". Retrieved 2016-01-08.
  4. ^ Daniel Roberts (5 October 2015). "Winklevoss Brothers Get License for Gemini Bitcoin Exchange – Fortune". Fortune. Retrieved 8 January 2016.
  5. ^ Paul Vigna. "Winklevoss Twins' Gemini Exchange Gets Trust License – BitBeat". WSJ blog. Retrieved 8 January 2016.
  6. ^ Hungerford, Arjun Kharpal, Nancy (2016-06-21). "The Winklevoss twins are launching their bitcoin exchange outside of the US". CNBC. Retrieved 2017-10-19.{{cite news}}: CS1 maint: multiple names: authors list (link)
  7. ^ https://www.profitconfidential.com/cryptocurrency/ethereum/top-5-best-exchanges-buy-eth/
  8. ^ https://www.consumerreports.org/cryptocurrency/how-safe-is-bitcoin-really/
  9. ^ https://www.profitconfidential.com/cryptocurrency/ethereum/top-5-best-exchanges-buy-eth/
  10. ^ https://www.nytimes.com/2017/12/19/technology/bitcoin-winklevoss-twins.html
  11. ^ https://qz.com/1150212/bitcoin-exchanges-coinbase-and-gemini-experience-system-issues-as-btc-price-surges/
  12. ^ http://fortune.com/2017/12/12/winklevoss-twins-bitcoin-futures/
  13. ^ "Bitcoin Cash (BCH) Withdrawals". Article. Gemini Exchange. 2017-10-07.
  14. ^ "Winklevoss Twins Say Crypto Exchange May Offer More Coins". Article. Bloomberg. 2018-03-08.
  15. ^ "Adding Bitcoin Cash and Litecoin Is Main Goal of 2018 for Gemini Exchange". News Article. Bitcoin.com News. 2018-03-11.
  16. ^ http://www.business-standard.com/article/markets/bitcoin-fever-exposes-crypto-market-frailties-117122500028_1.html
  17. ^ http://www.businessinsider.com/bitcoin-price-gemini-exchange-coinbase-login-issues
  18. ^ http://www.businessinsider.com/bitcoin-futures-exchange-gemini-scheduled-maintenance-2017-12
Retrieved from "https://en.wikipedia.org/w/index.php?title=Gemini_(company)&oldid=831643010"