Cryptocurrency is a digital type of currency, which utilizes encryption methods to handle the transfer of funds and money. On the other hand, bitcoin uses cryptocurrency and peer-to-peer (P2P) technology to manage monetary transactions in the digital state industry. Bitcoin started in 2009 and named the largest cryptocurrency method. It works by installing a “virtual wallet” in which you can convert your money into bitcoin. Generally, buying and transactions involving bitcoins work like how you will invest or buy in the stock market.
The use of bitcoin rises since technology allows every user to hide their identity. The cryptocurrency enables it to be more secure, and the transaction between users is swift and global. However, the use of bitcoin declined after some point. The bitcoin price in the market is steadily going down. The low rates in the industry prevent users from using the cryptocurrency further.
Even with the drop in the bitcoin industry, Cameron and Tyler Winklevoss believe that bitcoin price can recover from its loss. The Winklevoss twins founded a digital company called Gemini Trust Company, LLC in 2014. However, before they established Gemini, they became famous for suing Facebook CEO, Mark Zuckerberg. They accused Zuckerberg of stealing the idea of the famous social networking site from them.
Gemini allows customers to buy, sell, and store digital currencies. The company also started in facilitating bitcoin in their system of cryptocurrencies. According to the twins, their company uses a system of private keys and passwords to prevent the incidence of significant loss and hacking in the industry.
In South By Southwest (SXSW) conference, the Winklevoss Twins attended to announce that regulations and policies will strengthen the bitcoin market again.
According to the Winklevoss twins, what crypto industry needed is the trust of its users. Their statement came from the experience and based on what they learned and seen in the crypto industry.
Tyler Winklevoss explained that layers of protection for the bitcoin industry could improve the price of bitcoins in the market again.
The vision that the Gemini see in the future modernizes the transfer and transaction of value and currency. The company recognizes that instead of humans, machines will be the one doing the operations.
Cameron Winklevoss said that they are extending their system to allow users to transfer cash value worldwide.
However, the crypto of the company is not safe from volatility. The Winklevosses accepted that their assets being volatile is normal.
No matter how much the drop in the industry, the founders continue to promote their products. “Going global and mobile” is the current theme for the Gemini company.
It will soon launch its mobile app in December, and the Winklevosses revealed that Gemini would extend to Europe.
The continuous globalization and the system regulation of the Gemini exchange will enable the restoration of the bitcoin price.
The Winklevosses argued that they are different from trading app competitions that are infamous among millennials. They believed that their crypto-native company would thrive as a platform for currency exchange that surpasses trading applications.