Crypto Exchange Gemini Now Supports Stop-Limit Orders
On Thursday (November 14), digital asset exchange Gemini launched a feature that its users had long been asking for: stop-limit orders.
Product Manager Andrew Page explained via a Medium blog post published earlier today that Gemini is finally offering stop-limit orders, which he said are “typically used by traders to help manage risk and are common in marketplaces for traditional asset classes,” giving them “more control over order execution and trading strategies.”
He went on to say that from today, it is possible to “place buy or sell Stop-Limit orders on all order books using the Gemini ActiveTrader™ interface, as well as our REST and FIX order entry APIs.”
Here is how a stop-limit order works:
A Stop-Limit order has a Stop Price, a Side, and a Limit Price. When the Last Trade Price crosses the Stop Price on either the order book or the Gemini Auction, a Limit order will be placed on the Side at the Limit Price associated with the order.
Yesterday, Gemini launched its referral program, whereby if you introduce a friend to Gemini, both you and your friend earn $10 in Bitcoin (BTC):
What can be better than stacking some sats with your friends?😉
Refer Gemini to a friend and you BOTH get $10 worth of bitcoin! That’s right, the #GeminiReferral program is now live in BITCOIN.
— Gemini (@Gemini) November 13, 2019
There are three requirements you need to be aware of:
- Your friend must be a first-time Gemini user.
- Your friend will need to trade at least $100.
- Your friend will need to verify his/her account within 30 days of registering on Gemini.
Featured Image Courtesy of Gemini Trust Company, LLC