Gemini Goes Mobile, Launches Crypto App
On Tuesday morning, amid a continued imbroglio in crypto markets, New York-headquartered Gemini unexpectedly conveyed a surprising announcement to its following and clients. In a blog post, co-founder and CEO Tyler Winklevoss explained that his upstart would be introducing an in-house mobile platform tied to its flagship product — the world-renowned Gemini Exchange.
— Gemini (@Gemini) December 11, 2018
Starting today, users of the platform, often lauded as one of Coinbase’s foremost competitors, will be able to download the so-called “Gemini Mobile App” on iOS and Google Play. The application, which joins similar initiatives from Binance, Coinbase, and Poloniex, will purportedly act as an ecosystem to purchase and sell cryptocurrency, a portfolio tracker, price alert provider, and as a pseudo-wallet.
Gemini’s newest program will also facilitate a feature dubbed “Buy The Cryptoverse,” which like Coinbase Bundle and similar vehicles, allows traders to issue basket buy/sell orders for all cryptocurrencies listed on Gemini, weighed by relative market capitalization.
According to Google Play, since the application was released approximately seven hours ago (at the time of writing), it has been downloaded “500+” times. It remains to be seen whether the upstart’s foray into the mobile realm will garner traction from Bitcoin enthusiasts.
Regardless, this endeavor comes down to Gemini’s, and in turn, the Winklevoss Twins’ unrelenting drive for innovation in the cryptosphere, as they see this nascent asset class as the “future of money.” Harvard graduate Tyler Winklevoss, known for his involvement in the controversial Mark Zuckerberg/Facebook case, wrote:
We began our mission to buildthe future of money by creating a licensed cryptocurrency exchange and custodian that allows our customers to buy, sell, and store cryptocurrency in a safe, secure, and compliant manner. A trusted and regulated platform, however, is just the beginning. The future of money is both digital and mobile, and now Gemini is too with the launch of the Gemini Mobile App!
The industry insider closed off the product’s inaugural announcement by claiming that Gemini, which self-describes itself as “the world’s most trusted cryptocurrency platform,” will now be available “into your hands” at a consumer’s beck and call.
The news of this mobile application comes just days after the U.S.-centric platform launched support for Bitcoin Cash (BCH), following its contentious hard fork in mid-November, as reported by Ethereum World News previously.
Winklevoss Twins: “We’re Totally At Home In [Crypto] Winter”
As news broke regarding the product’s launch, Bloomberg released a piece outlining an interview it had with the prominent twins, who reportedly bought up 1% of all Bitcoin (BTC) in circulation following their multi-million dollar settlement with Mark Zuckerberg. Tyler claimed that “we’re totally home in winter,” highlighting the growing sentiment that crypto and blockchain technologies are in the midst of a multi-month lull, as made evident by BTC’s dismal performance.
Yet, like venture capital legend Tim Breyer, the twins seemed calm, adding that 2018’s market tumult has allowed Gemini to “build internally, and refine and kind of catch out breath.” The two went on elaborate on their plans for 2019, claiming that enticing users onto its mobile application will be a priority. The Winklevoss duo added that “a lot of their decisions” have been retail-based, contrary to the sentiment that Gemini is a platform slated for institutional players. As such, the Gemini heads then noted that they intend to make a foray into the Asian Bitcoin market in 2019, hopefully gaining on its crypto competitors in Bitfinex, Digifinex, and Huobi.
In short, Tyler, speaking on behalf of his brother and himself, told Bloomberg:
We’re in this for the long haul… We think it’s a space that’s here to stay
TItle Image Courtesy of Emil Vilsek on Unsplash