What Is Gemini?
Gemini is a privately-owned cryptocurrency exchange that lets you buy, sell, trade, and securely store more than 60 cryptocurrencies. It was launched in 2014 by Cameron and Tyler Winklevoss under the formal name Gemini Trust Co., LLC. 1.
Gemini is one of the only major Bitcoin Exchange besides Binance and Coinbase to accept US customers.
Staking on Gemini: What and Why?
Staking is the process through which a blockchain network user ’stakes‘ or locks their cryptocurrency on a network as part of the consensus mechanism, thus ensuring the security and functionality of the chain. Staking is an essential feature of proof of stake (PoS) protocols.
Staking can be complicated because it typically takes place on a decentralized platform, and requires technical skills to manage your crypto wallet, validate blocks, and claim rewards… Gemini Staking simplifies the process by allowing customers a way to generate crypto rewards from a decentralized system on a secure and regulated platform.
It’s the best of both worlds: the benefit of decentralization with the power of Gemini.
Now that you know what staking is, here are a few key benefits for choosing to Stake with us:
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We cover gas fees to stake and unstake.
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Slashing Protection. We will reimburse you for certain penalties imposed in connection with staking, such as slashing penalties.
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No staking minimums. Whenever possible, we will create staking pools and share staking rewards back with customers proportional to the value of their staked ETH.