Gemini Gives 4 Fresh Exchange Pairs Subsequently Increasing LTC Backing; Short-term Impediment Postpones BCH Support
Gemini obtained the necessary authorization to include Litecoin exchange into their list of cryptocurrencies investments. Winklevoss brothers were the founders of digital money exchange. Gemini is also expected to continue backing altcoin from October 13 onwards.
Previously, Litecoin benefited after being recognized by a leading exchange. GDAX is one of the digital currencies that gained by including altcoin in its list. However, it is not advisable to follow the speculative route while looking for investment opportunities. Therefore, Litecoin is an excellent opportunity that depositors cannot bypass.
Gemini Gives 4 New Exchange Pairs
Eric Winer explained that stockholders will be allowed to deposit Litecoin in their accounts. The directive was to take effect from October 12. However, trading is expected to start from October 16 this month.Gemini commenced its operations four years ago. Currently, it offers three digital currencies for trading. These digital moneys are the main source of income for Gemini. With the introduction of a new currency, investors will have a variety of choices to select from in the market.
Therefore, many savers might use the speculative strategy before investing in Litecoin. This is because many depositors do not have information about its previous performance.
The exchange got approval from NYSDFS to trade in Litecoin recently. Winer noted that the new currency will be included in the digital currency’s exchange pairs.
The inclusion of Litecoin improves Gemini’s standing in the market. The corporation continues to experience tremendous growth since it introduced the new currency. Gemini has worked closely with the regulatory body to get authorization for Litecoin exchange.
This Month Gemini Will Not Add Bitcoin Cash Support.
Winer also disclosed that Gemini got a setback in its attempts to add Bitcoin Cash support. The deputy president for engineering disclosed that their strategy was to support Bitcoin cash. This information was released on 12 October this year. Besides, many investors have some reservations about the Bitcoin Cash community.
Gemini was forced to postpone the introduction of BCH services until the end of November. During this time, it will not accept deposits and withdrawals. Trading activities will also be prohibited during this period. Gemini is expected to assess its Bitcoin Cash network before making a final decision.
This year recorded a high number of cryptocurrencies users than previous years. Most of the market currencies recorded high prices hence, attracting more investors in the market. The price of these digital moneys skyrocketed within a short duration. The high performance lured more shareholders into the industry.