The Winklevoss twins-owned Gemini crypto exchange is using the current bear market to “build,” and has launched its official mobile app for iOS and Android smartphones.
While a battle rages between Coinbase and Jack Dorsey’s Square Cash app for the top spot on the Apple App Store for iOS, a new contender has thrown their name in the ring. Gemini, the cryptocurrency trading platform led by Cameron and Tyler Winklevoss, has launched an official mobile app for iOS and Android devices.
Gemini Mobile App Now Available for iPhone and Android Devices
The new app offers many of the same experiences found when accessing Gemini from a web browser, including the ability to buy, sell, send, and receive cryptocurrencies like Bitcoin and Litecoin, a portfolio to track gains and losses, the firm’s Buy the Cryptoverse bundle feature, and much more.
The app is now available for download on the Google Play Store for Android and Apple App Store for iPhone and iPad.
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In an interview with Bloomberg, Gemini co-founders Cameron and Tyler Winklevoss explained their motivation for rolling out a mobile app now, while in the midst of a “crypto winter,” as many are calling the current bear market. Other companies such as rival exchange Coinbase, and even the $15 million-valued mining giant Bitmain have been struggling to maintain business operations in key areas.
“We’re totally at home in winter,” said Tyler Winklevoss. “It gives us time to build internally, and refine and kind of catch our breath,” added his brother Cameron.
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In addition to the mobile app launch, the Winklevoss twins have their sights set on expanding into Asian markets in 2019, and are continuing to push for an approval from the United States Securities and Exchange Commission to green light a Bitcoin ETF.
Winklevoss Twins Undeterred By Bear Market: Crypto Is “Here to Stay”
Despite the continued downtrend the overall cryptocurrency market is experiencing, and the continued resistance from the SEC to launch a Bitcoin ETF, the Winklevoss twins are undeterred in their approach.
“We’re in this for the long haul,” Tyler said. “We think it’s a space that’s here to stay.”
While many investors point to institutions – a demographic that Gemini currently caters to – as the catalyst to spark the next bull run, Cameron believes that the “retail story is just beginning.”
At the tail end of last year, retail investors flocked to the Coinbase app to buy Bitcoin, causing the price of cryptocurrencies to go parabolic. Gemini is hoping that their new mobile app will help lure in new retail investors.