The initial aim for the network was to prioritize security and the ethos of requesting the user`s permission before any task. The team of developers at Gemini has emphasized a lot on providing their customers with a high integrity choice and ensuring the user’s trust and maintaining it as well.
Gemini is a company that is regulated in New York by the New York State Department of Financial Services. They deal with cybersecurity needs and capital reserve requirements as well as banking compliance standards that have been set by the department and New York Banking Law.
They are mostly famous for their production of simple, sophisticated, and safe products. This brand caters to both levels, individually and institution-wise. Gemini will become a great help in buying, storing, or selling one`s Bitcoin and other cryptocurrency tokens. Their team offers such features that gain and ensure the user`s trust. To attain user loyalty, they believe that they should focus on four key elements, which are product, security, licensing, and compliance. These four features work as the foundation for the brand`s credibility, and they help attract consumers and users to the platform.
What is GUSD?
The Gemini dollar can be best described as a stablecoin that functions through Ethereum and makes sure that the value is steady at USD $1.00. This supply of GUSD is kept collateralized through the US dollar. GUSD is a stable coin that is pegged to the US Dollar, and it is held in the State Street Bank and Trust Company.
Technically, the coin GUSD was curated by the cryptocurrency exchange Gemini. The founders of this brand were Cameron and Tyler Winklevoss in 2014. The New York Department of Financial Services (NYDFS) gave Gemini approval to release their stable coin in 2018. The brand states that GUSD was the first regulated stablecoin. However, Paxos had launched an NYDFS regulated stablecoin coincidentally on the same day. The USD deposits linked with the number of tokens being circulated are kept in the Gemini Trust Company LLC.
Every platform focuses on issuing new and innovative features on its working model. There are numerous such features that make Gemini a secure platform which includes:
Regulated and transparent
The New York Department of Financial Services regulated Gemini. GUSD reserves can be used for FDIC insurance that is marked at $250,000 for every customer. There will be no concessions: BPM LLP, an independently licensed accounting firm, publishes monthly USD deposit audits, and Trail of Bits, a superior protection research and technology organization, examined the Ethereum smart contract.
Zero Fees and programmable
Buying or selling GUSD on Gemini is entirely free. This makes it a preferable choice for users. GUSD is a highly configurable Ethereum ERC-20 coin that can be used in smart contract implementation.
Gemini proved to have the safest and the most secure platform. They have inculcated such features that ensure user security. Once you open the application for the account or conduct crypto transactions, you must use two-factor authentication (2FA).
They have enabled Hardware Security Keys through WebAuthn, allowing you to protect the profile with the most secure 2FA available. To prevent attackers’ assaults, rate-limiting is implemented to some user actions, including your password resets. They safeguard their private info as well as other confidential material, including both transit and at rest, by hashing and salting your key and using encryption.
Some of the products of the network are as follows:
The platform provides flexibility to learn about the cryptocurrency industry, purchase Bitcoin and other cryptos, and develop a cryptocurrency profile.
Upon the user’s crypto balance, users may get up to 8.05 percent APY per day.
Users can earn up to 3% immediate crypto earnings in their preferred crypto. There is no yearly charge, no international exchange fees, and World Mastercard security is included with the account.
It is an elevated crypto exchange system with areas of expertise. ActiveTrader, which is accessible to more daily accounts, includes additional flowcharts, numerous order books, auction sites, and block trading.
It is the first authorized stablecoin in the market, built for stability and usefulness in a wide array of methods. The Gemini dollar (GUSD) was created to bring the worth of the US dollar into the technological era.
It’s becoming one of the safest, certified, and customer-friendly care systems in the marketplace, to save and administer your assets.
Gemini Clearing enables two people to solve a deal without going via the order form. In this case, Gemini operates as a verifying 3rd person in pre-arranged contracts, ensuring prompt payment while reducing credit risk.
The users get to pay for ordinary goods using cryptocurrency. Gemini Pay is a simple, safe, and easy method to purchase Bitcoin at physical stores across the United States.
The Gemini app puts the customer in control of the company’s most extraordinary cryptocurrency exchange and account, integrating institutional-grade safety with a straightforward, intuitive interface. They can bring trading with the most robust protection and dependable custody.
Where to buy GUSD or exchange Gemini Dollar to Bitcoin?
The customers will be able to purchase and get GUSD via the Gemini cryptocurrency exchange. The Winklevoss brothers state that the Gemini dollar is meant to bridge the gap between the typical finance sector and the crypto world. The brothers are planning to make the GUSD stablecoin outshine the other variants by giving priority to the fact that it is regulated by the NYDFS. The token will also be available to exchange on reliable cryptocurrency exchanges, like Swapzone that makes the exchange possible with Bitcoin and several other crypto pairs.
Get GUSD on Swapzone
Users can acquire GUSD by following these simple steps on the exchange:
Step 1. Go to Swapzone.io to get your work started.
Step 2. Select BTC in the “Send” section.
Step 3. Specify the total amount you are going to transfer.
Step 4. Select GUSD in the “Get Up To” section.
Step 5. Review the offers on the screen. You will find multiple offers with the best rate listed at the top. You can also see how many minutes it would take for you to complete the exchange.
Step 6. Confirm the offer you wish to utilize by clicking “Exchange” and then enter the wallet to receive GUSD.
Step 7. Use the generated BTC address to send your BTC deposit.
Step 8. Wait for the deposit to be processed by the exchange service and the exchange to be done.
Step 9. Do not forget to rate the exchange partner, so we can gather more information on the exchanges for future users.