• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Litecoin
Nexo Logo

Gemini Adds Litecoin with Approval from New York Regulators

Cole Petersen by Cole Petersen
4 years ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

Cryptocurrency exchange, Gemini, announced today that they will be adding support for Litecoin (LTC) beginning on Saturday, October 13th. Investors will be able to deposit LTC into Gemini, but will not be able to trade the cryptocurrency until Tuesday, October 16th.

Litecoin will be the fourth digital asset added to the exchange platform and will have trading pairs with all the available assets on the platform, including Bitcoin, Ethereum, and Zcash.

Litecoin is a peer-to-peer (P2P) open source project that was forked off of the original Bitcoin network in October of 2011. Although met with some controversy regarding its utility as compared to Bitcoin’s, it is now widely referred to as the Silver of cryptocurrency, while Bitcoin is the industry’s Gold.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Although technically similar to Bitcoin, Litecoin differentiates itself by using a unique mining algorithm that is intended to make it more decentralized, and utilizes some features intended to make it more efficient for payments than Bitcoin.

The move to add LTC to Gemini came after the exchange received approval from the New York State Department of Financial Services (NYSDFS) that approved Gemini’s addition of Litecoin trading and custody services.

Eric Winer, Gemini’s vice president of engineering, wrote about the NYSDFS’s regulatory relationship with the exchange in a Medium post, saying:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

“Gemini continues to grow with a ‘security-first’ approach and we have worked closely with the NYSDFS to gain approval for Litecoin trading and custody services. We are excited to provide our customers with a safe, secure, and compliant method to buy, sell, and store these digital assets.”

Gemini Postpones Plans to List Bitcoin Cash

In the exchange’s Litecoin announcement, they also explained to investors that they have delayed their plans to list Bitcoin Cash, the recent and highly controversial fork of Bitcoin.

The reason for postponing their plans to list BCH is mainly surrounding the uncertainty in the community regarding possible hard forks occurring later this year.

Gemini explains that:

“There has been much uncertainty lately within the Bitcoin Cash community about one or more possible hard forks arriving in mid-November. Some of those forks lack the replay protection feature that would be required for Gemini to safely support Bitcoin Cash. Because of this situation, we are delaying our launch of Bitcoin Cash deposits, withdrawals, and trading until late November…”

Possible Price Impact of Gemini Litecoin Listing 

Upon the news of Gemini adding Litecoin to their platform, the cryptocurrency posted slight gains, mainly due to an overall recovering market that has moved up slightly after seeing widespread losses on Wednesday and Thursday.

This past May, when Gemini added Zcash to their platform, the crypto pumped 40% in a day, mainly due to a combination of general market health and the somewhat unexpected news of the listing.

Although Gemini may not have the same market influence as its main competitor, Coinbase, the exchange still has significant trading volume. It is possible that there could be a LTC price pump once trading begins on the exchange, but decreasing trading volume across the board could hamper this.

Featured image from Shutterstock.
Tags: cryptocurrencyexchangesGeminiLitecoinregulation
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

The Nightly Mint: Daily NFT Recap

The Nightly Mint: Daily NFT Recap

1 hour ago
Bitcoin on-chain metrics

Bitcoin On-Chain Activity Throttled After LUNA Collapse

4 hours ago
Bitcoin Consolidation Uninspiring, But Run To Near $33k On The Cards

Bitcoin Consolidation Uninspiring, But Run To Near $33k On The Cards

4 hours ago
Bitcoin

Bitcoin Trading Volume Plummets Down From Recent Top

8 hours ago
Bitcoin

Bitcoin Sets Record Streak For Bloodliest Weekly Trend yet

9 hours ago
JPMorgan: Bitcoin Is Undervalued; Says Fair Price Is 28% Higher

JPMorgan: Bitcoin Is Undervalued; Says Fair Price Is 28% Higher

9 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Chronoly (CRNO) Takes Number 1 Spot at Project To Invest In 2022 Over Fantom (FTM) and Anchor Protocol (ANC)

May 25, 2022

Pancakeswap to Start Listing Metallika token (METALLIKA)

May 25, 2022

Ariva celebrates 1st year anniversary with impressive achievements in the blockchain industry

May 25, 2022

LBank Exchange Will List Globiance Exchange Token (GBEX) on May 25, 2022

May 25, 2022

LBank and Adanian Labs Powers Hackathons, Blockchain Education, and Ecosystem Development for Africa

May 25, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.