Renowned cryptocurrency expert Cameron Winklevoss frequently discusses the difficulties people encounter when interacting with virtual currencies such as Bitcoin. He highlights that many people are reluctant to assume the responsibility necessary to securely manage and safeguard their cryptocurrency holdings.
In order to help users manage their digital assets without having to worry about compliance and security concerns, Winklevoss and his twin brother, Tyler, founded Gemini. Gemini seeks to provide a regulated environment for trading stocks and other securities, much like traditional financial platforms like NASDAQ and E-Trade do, but with a focus on cryptocurrencies.
Think of handling your Bitcoin as being similar to starting from scratch to build a solid house. Strong foundations and all the required supplies are required, which can be intimidating if you're not familiar with safety or construction codes. As NASDAQ and E-Trade do for traditional investments, Gemini fills this gap by providing users with a ready-made home that includes security features and compliance with legal requirements.
By bridging the gap between the established financial industry and the new realm of digital currencies, Winklevoss hopes to make the latter less daunting and more approachable for people who might otherwise be put off by its complexity.