Now You Can Trade Bitcoin Any Time
The Winklevoss twins want to trade bitcoin, and they want to do it now. Growing impatient waiting for their ETF fund to be listed and to boost bitcoin trading, the cofounders of the Gemini Trust Company, a digital currency exchange based in the U.S., are introducing a daily bitcoin auction so that the currency can be traded any time. The entrepreneurs believe that it will allow larger trades at lower cost, and they are also offering a rebate on trading fees of 0.15 percent.
The auctions will be held every day at 4 p.m. EST and on holidays and weekends. Initially, trading will be limited to bitcoin into U.S. dollars, but this is expected to expand to more currencies later. The twins hope — as is the case with other exchanges, such as the NYSE and Nasdaq — that the digital currency will be easier to use and more