Gemini Announces Litecoin Support on its Platform
The recognized and popular crypto exchange Gemini, has announced support for Litecoin trading and custody on its platform. The information has been released by Eric Winer, VP of Engineering at Gemini on October 12.
Trading activities will begin on Tuesday, October 16 at 9:30 EDT, as per the article.
At the moment, Litecoin (LTC) is one of the most valuable cryptocurrencies in the market. It is known as the silver to Bitcoin’s gold. The virtual currency has been created as a fork of the original Bitcoin network and aims to be the virtual currency for daily transactions.
Additionally, Litecin works with a different mining algorithm than Bitcoin with the intention to decentralized participation.
The following trading pairs will now be available at the exchange LTC/USD, LTC/BTC, LTC/ETH, and ZEC/LTC.
It is important to mention that Gemini is the world’s most regulated cryptocurrency exchange and custodian in the world. Gemini follows the highest standards of banking compliance and fiduciary obligations. Furthermore, it is overseen by the New York State Department of Financial Services (NYSDFS).
The company wrote about it:
“We are excited to provide our customers with a safe, secure, and compliant method to buy, sell and store these digital assets.”
Furthermore, the company announced that they had the intention to announce support for Bitcoin Cash (BCH). However, due to the fact that the Bitcoin Cash community is discussing a hard-fork, Gemini decided to delay the launch of Bitcoin Cash deposits and withdrawals until late November.
Litecoin is the 7th largest cryptocurrency in the market by market capitalization with $3.12 billion dollars. Each LTC coin can be bought for $53 dollars.
At the moment of writing, Gemini is the 38th largest exchange in the market with a total trading volume in the last 24 hours of $34 million dollars.
We are pleased to announce that @litecoin (LTC) is now available on Gemini! Starting tomorrow, we will begin accepting Litecoin deposits, and trading will open across all currency pairs on Tuesday. For more information, please visit our blog on @Medium https://t.co/it5xuF9Hr5
— Gemini (@GeminiTrust) October 12, 2018