Where Gemini Dollar is Accepted Locally and Globally
GUSD is often named as one of the legit stablecoins, unlike Tether, it’s actually backed by US Dollars. With its Gemini Pay app, it functions as a secure and reliable commerce coin. It’s accepted by businesses around the world, notably the Paris-based Ledger Wallet company, producing impossible-to-hack hardware wallets, something that anyone holding more than a few hundred dollars worth of cryptocurrency should own.
Who accepts Gemini Dollars…
Are you an Entrepreneur, freelancer, or manager of a business accepting cryptocurrency?
Should you buy Gemini Dollars?
Not if you’re looking for a hedge-against-inflation investment, if that’s your aim just hold Bitcoin or gold-backed crypto. But stablecoins serve some important roles in the crypto economy. They are largely used to stabilize profits made from the upward volatility of other cryptocurrencies. The Gemini exchange offers Gemini Earn which pays a competitive 7.4% interest and is actually FDIC-insured up to $250,000, that’s an impressive (inflation-beating?) interest rate on a low-risk blockchain-powered investment…
The common and well-deserved criticism of stablecoins is that they really don’t live up to their name if they are pegged to the US Dollar (or really any legacy national fiat currency). GUSD is a product of the New York-based trust company, Gemini Trust Company, LLC, which means it’s highly regulated and audited monthly. Gemini was founded in 2015 by the iconic Winklevoss twins (the guys that Mark Zuckerburg stole Facebook from). I think that the Winklevoss duo is on the side of the good guys in the cryptocurrency saga, they have played a role in mainstreaming and popularizing crypto while playing the regulatory game there in New York to keep crypto on the right side of the law.
About Gemini Dollar (GUSD)
Fun fact: They named it “Gemini” because it’s the Latin word for twin.
The world’s first regulated stablecoin, designed for high scale and usability in all kinds of transactions.
Gemini dollar (GUSD) is purpose-built to bring the value of the U.S. dollar into the modern digital era.
From gemini.com
The Gemini dollar is a cryptographic token that is (i) issued by a New York trust company, (ii) strictly pegged 1:1 to the U.S. dollar, and (iii) built on the Ethereum network [1] according to the ERC20 standard for tokens.
The Gemini dollar is a stable value coin that combines the creditworthiness and price stability of the U.S. dollar with the technological advantages of a cryptocurrency and the oversight of U.S. regulators. As an ERC20 compliant token, the Gemini dollar can be transferred on the Ethereum network. Gemini dollars are created at the time of purchase on the Gemini platform and redeemed or “destroyed” at the time of sale on the Gemini platform.
From the abstract of the Gemini Dollar whitepaper
