Cameron and Tyler Winkelvoss are twins known for a couple of different things. From being identical twin college rowers and internet entrepreneurs, they are also the founding team in the focus of the Exchange Series - 2 of 7 Gemini.
The Gemini Centralized Exchange
In the big ecosystem of cryptocurrency exchanges Gemini is worth taking a closer look at. Having started in 2015 being founded by the Winkelvoss twins there is an interesting paradox to further discover.
As with most exchanges there are pros and cons to each. In every situation though it heavily depends on the intent of the user. Overall, one of the biggest points in regards to Gemini that seems to stick in the narrative is compliance.
Having been one of the early founded exchanges in the U.S, the focus on compliance may have kept their growth more subdued, yet within the first year they were licensed as an Ether exchange in the state of New York.
Then it has been off to the races ever since.
Benefits and Features
As with every exchange there are benefits and features that seem beneficial and others not so much. Interestingly enough last year, there was a brief campaign that was launched to promote more crypto engagement.
And in the U.S. at least with the very litigious environment that exists, having an exchange that came out promoting regulation and compliance seemed like a good strategy. I realize this may be in conflict with many who view crypto in a very different light.
In a recent review of the Gemini exchange the Trading Warriors blog covers some really salient points about the utility, safety and positive aspect of the exchange.
I really like that first statement about being the bridge. Along with all the other GenX in this world, I find that being able to connect the different generations, demographics, and people is really important.
Also, I see the challenges that are listed as potentially more positive than negative. Here's why. In this age where everything is available with overnight shipping and as Ronnie Chang points out in his stand-up routines... WITH NAPKINS, A LOT OF NAPKINS, we have come to expect across different societies the 100% solutions whereas most of the time the 70-80% solution is what is most business savvy.
It's always good to gain another perspective. Almost the same as a second opinion from the doctor's office. Although in this case most refer to them as third party reviews. Personally, I always find this a little difficult because the lists of reviewers, social influencers and "that guy or gal" who knows something is growing at light spedd.
That all being said, you can always employ a simple strategy.
Trust BUT Verify
If you operate with that simple mantra, you will be light years ahead of most you are interacting with. Leave the FOMO at home, see the forest for the trees, and make great decisions.
CoinIntelligence has a decent review of the overall operations for Gemini. They give Gemini a score of 8.7 out of 10 touching on everything from trust to costs.
The low performance score seemed to be mostly from what was described as platform downtime during heavy movement times. I have seen this complaint for every centralized exchange.
In the same review a quick look at the trading platform;
The next common reviewer is Trust Pilot. I tend to think of TP as a good platform for a quick snapshot. When I looked at the Gemini Review, here's what I saw.
Candidly I was a little shocked when I saw this. I have used Gemini before and found it to be really simple and easy to use for BTC and ETH purchases from fiat. So you can imagine my surprise when I saw these reviews.
You could look at it and say there was only 58 reviews out of the millions of people involved in crypto, of course all of which aren't there. My point is it's a small pool. That all being said, this review made me dig a little deeper.
I saw comments around bank accounts being withdrawn multiple times. That gave me a little alarm, because obviously I wouldn't want that to happen to me. When I went back in to review my account, I saw the steps that were in place if you were going to make a transaction and the multiple withdrawals just didn't make sense to me.
On the flip side the positive reviews were about customer service, which is always a good thing. So as with anything it seems there are positives and negatives on the review sides. Keeps it real.
The Last Review here is recently from THE COLLEGE INVESTOR:
This is a quick and easy review on a broad stroke of the Gemini facets. I found it to be quite helpful.
It covered everything from signing up to your first transaction. The one area that really jumped out at me was in regards to security and trying to answer the question
This all made sense to me and was very helpful.
Ok Here We Are, So Now What?
Like everything, when you put in a little sweat equity, there is something... More fulfilling... Just Feels Better... The Air Smells Different...
My point is, here are a few resources that we've covered but no where exhaustive. The list goes on and on. You can check others out as well to DYOR and form your opinion.
At the end of the day, I give a thumbs up to Gemini. I find the simplicity of the operation, security to day, and maybe even the fact that I too am a gemini, but nonetheless nothing negative to report on my end.
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Also, if you're considering looking into Gemini Exchange be sure to use the follow link.
Once you buy or sell $100 within 30 days of creating an account, both you and I will be credited $10 worth of bitcoin. Win Win...