Gemini Adds Litecoin Trading With New York Watchdog Approval

Gemini Adds Litecoin Trading With New York Watchdog Approval 1

Investors will soon be able to trade litecoin on the Winklevoss brothers-founded cryptocurrency exchange Gemini.

The exchange announced Friday that it would soon enable deposits and trading for litecoin (LTC), adding the early bitcoin spin-off to its existing offerings of bitcoin, ethereum and zcash.

Vice president of engineering at the firm, Eric Winer, wrote in a blog post that the move comes as part of the exchange’s effort to support “the future of money” by providing “a safe and regulated environment for both innovation and consumer protection.”

The listing has been approved by the New York State Department of Financial Services (NYDFS), Winer continued, noting that Gemini is “held to the highest standards of banking compliance and fiduciary obligations” under the regulator’s watch.

Coinbase 3

Gemini takes a “security-first” approach and has been “working closely” with the NYDFS to gain approval for litecoin trading and custody services, he said.

The exchange’s clients can begin depositing litecoin into their accounts as of 13:30 UTC (09:30 EST) on Saturday, Oct. 13. Full trading will begin three days later, at the same time on Tuesday, Oct. 16, according to the post.

Litecoin will be offered in trading pairs against USD, bitcoin, ether and zcash.

Separately, Winer said Gemini originally intended to announce support for bitcoin cash as well as litecoin, but said “uncertainty” around one or more hard forks which may occur mid-November meant they had shelved the plan for now.

“Some of those forks lack the replay protection feature that would be required for Gemini to safely support bitcoin cash,” he explained, adding:

“Because of this situation, we are delaying our launch of bitcoin cash deposits, withdrawals, and trading until late November, after the forks have passed and we can evaluate the health of the bitcoin cash ecosystem.”

Customers may still see “coming soon” graphics on bitcoin cash-related pages on the Gemini platform as a result.

Litecoin image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Gemini Adds Litecoin Trading With New York Watchdog Approval 2
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



bitcoin
Bitcoin (BTC) $ 42,023.00
ethereum
Ethereum (ETH) $ 2,906.87
tether
Tether (USDT) $ 1.00
cardano
Cardano (ADA) $ 2.09
binance-coin
Binance Coin (BNB) $ 358.81
xrp
XRP (XRP) $ 0.921204
solana
Solana (SOL) $ 128.50
usd-coin
USD Coin (USDC) $ 1.00
polkadot
Polkadot (DOT) $ 28.15
dogecoin
Dogecoin (DOGE) $ 0.208819
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 42,023.00
ethereumEthereum (ETH)
$ 2,906.87
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 521.99
litecoinLitecoin (LTC)
$ 153.78
bitcoinBitcoin (BTC)
35.886,59
ethereumEthereum (ETH)
2.482,39
tetherTether (USDT)
0,853975
bitcoin-cashBitcoin Cash (BCH)
445,77
litecoinLitecoin (LTC)
131,32
bitcoinBitcoin (BTC)
30,727.43
ethereumEthereum (ETH)
2,125.52
tetherTether (USDT)
0.731205
bitcoin-cashBitcoin Cash (BCH)
381.68
litecoinLitecoin (LTC)
112.44

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021

Blockchain/Cryptocurrency Questions and Answers

Beginner’s Guide to Investing in Cryptocurrency
August 9, 2021
Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin42,082 0.38 % 3.48 % 10.72 %
Ethereum2,906.7 0.90 % 5.54 % 15.14 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Cardano2.100 0.80 % 4.36 % 12.61 %
Binance Coin359.03 0.88 % 4.18 % 13.34 %
--- --- --- ---
--- --- --- ---
--- --- --- ---
Polkadot30.87 2.19 % 17.29 % 10.73 %
--- --- --- ---

bitcoin
Bitcoin (BTC) $ 42,023.00
ethereum
Ethereum (ETH) $ 2,906.87
tether
Tether (USDT) $ 1.00
cardano
Cardano (ADA) $ 2.09
binance-coin
Binance Coin (BNB) $ 358.81
xrp
XRP (XRP) $ 0.921204
solana
Solana (SOL) $ 128.50
usd-coin
USD Coin (USDC) $ 1.00
polkadot
Polkadot (DOT) $ 28.15
dogecoin
Dogecoin (DOGE) $ 0.208819