Get Ready for Ether Auctions!
Starting July 28, 2017, Gemini, the New York-based digital currency exchange, is diving into the world of Ether with their new daily auctions. That’s right, Ether enthusiasts! Get your wallets ready for an auction experience similar to the one Bitcoin traders have been savoring since September last year.
Why Ether? A New Frontier
The Winklevoss twins—yes, those Winklevoss twins—have decided to expand their auction prowess to Ether, the native cryptocurrency of the Ethereum blockchain. If you thought Bitcoin was exciting, wait until you see what Ether users can do during this daily bidding bonanza!
- Launch Date: July 28, 2017
- Frequency: Daily, at 4 p.m. Eastern Time
- Participation: Open for all Ether traders
The Lure of Price Discovery
The auctions are all about creating a fair playground for buyers and sellers. The Winklevoss twins aren’t just in this for the fun of it; they aim for price discovery. This means you’ll witness a transparent setting where auction participants can bid knowing they’re matching up against their peers at a designated time.
“We are confident that our Auction will bring you the benefits of over-the-counter (OTC) trading without the overhead, hassle, and lack of transparency.” – Cameron Winklevoss
How to Participate
Worried about complexity? Fear not! Participating is as easy as pie, or at least easier than figuring out your taxes. Interested participants just need to enter before the auction kicks off. Here’s the scoop:
- Choose either Auction-Only Market or Auction-Only Limit Orders to buy or sell.
- Ten minutes before the auction, indicative prices will be revealed.
What’s in it for You?
By joining these daily Ether auctions, traders can enjoy some perks:
- Potential for better price discovery
- Increased transparency in trading
- Lower costs as more participants join the bidding frenzy
Whether you’re a seasoned Ether trader or a curious newcomer, Gemini’s daily auction promises to spice up your trading game. Buckle up, folks; Ether is about to auction its way into your heart!
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