Litecoin, the peer-to-peer cryptocurrency, and open source software project, is going to be listed on Gemini, one of the leading cryptocurrency exchange and custodian that allows customers to buy, sell, and store digital assets.
According to Gemini’s official blog, users will be able to deposit Litecoin to their Gemini account from October 13th, whereas trading will be initiated from October 16th onwards. Litecoin is the fourth digital asset being listed on Gemini exchange platform followed by Bitcoin [BTC], Ethereum [ETH], and Zcash [ZEC]. The platform will also offer the following trading pairs and services, LTC/USD, LTC/BTC, LTC/ETH, and ZEC/LTC.
Litecoin’s creation was a result of a fork of the original Bitcoin blockchain. The platform focuses on spreading the use of cryptocurrency tokens for transactions on a daily basis which is similar to the payment methods of the traditional banking system.
Moreover, Litecoin uses a unique algorithm which is different from the one which is used to mine Bitcoin [BTC]. This effort of the community will further decentralize participation and continue to promote the platform towards increasing the adoption of cryptocurrency tokens for payments.
Gemini claims to be one of the most regulated exchange platform and custody provider in the world. In addition, they also stated that the platform maintains high standards of banking compliance and is regularly monitored by the New York State Department of Financial Services [NYSDFS]. By including Litecoin on their platform, Gemini claims to have become the “go-to exchange” for institutional and retail investors.
The report further added that the exchange platform had been working closely with the NYSDFS in order to gain approval for trading and providing custody services for Litecoin. The report stated:
“We are excited to provide our customers with a safe, secure, and compliant method to buy, sell, and store these digital assets”
The exchange platform has also planned to list Bitcoin Cash [BCH]. However, the Bitcoin Cash hard fork scheduled for November 2018 has led to uncertainties, delaying the launch of Bitcoin Cash deposits, withdrawals, and trading.
According to CoinMarketCap, at press time, Litecoin [LTC] was trading at $53.62 with a market cap of more than $3 billion. The price of LTC is seeing an upward trend with a 2.18% hike in the past 24 hours, showing a recovery from the bear’s grip.
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