Author: Kella Pacquiao, Philippines
Last month, the Winklevoss twins approved to include Zcash on its trading platform, Gemini. But this month, users are devasted to that have their trading fees raise by 400%.
A post on Reddit was being scrutinized and till now, it appears no reason was been explained.
Gemini is a popular trading platform and draws in investors and consumers. However, the table might turn with the unusual strategy that Gemini used.
Reasons Behind Gemini’s Sudden Decision
Elation was not the first thing that people felt with the obvious higher trading fees being done. Frustration and outrage show through various social media platforms.
Due to this, speculations give rise to why this happened.
Few bad actors stated that is a recompense because of Bitcoin’s value has been falling. Another idea said that Gemini might not have been generating enough revenue which causes them to raise trading fees.
Even now, no one may know why until Gemini reveal itself.
The platform currently uses 1% fee for specific trading users. But traders who have less than 50 ETH volume per month will have to follow Gemini’s new rule.