Genesis

Genesis is a licensed digital currency broker based in New York City. Find out how the service works today in our Genesis Global Trading Inc. review.

What Is Genesis?

Genesis Global Trading Inc., or simply Genesis, is a subsidiary of the Digital Currency Group (DCG). The company was originally known as SecondMarket. In 2015, they relaunched as Genesis Global Trading Inc.

Genesis claims to be the first regulated broker-dealer in the United States that specializes in bitcoin. The company caters its servers to institutional investors and private investors who wish to buy large blocks of digital currencies – like bitcoin, litecoin, and ripple.

The firm honed its bitcoin sourcing skills while running SecondMarket’s private investment service, Bitcoin Investment Trust. That trust is still active, although it’s no longer open to new investors.

In some form or another, Genesis has been trading since 2013 – making it one of the older members of the bitcoin world. Since 2013, the company claims to have completed over $750 million worth of digital currency trading.

Obviously, Genesis isn’t for small time investors. It’s for high net worth individuals and institutional investors. They have a minimum transaction size of $25,000.

Genesis Trading Services

Genesis offers over the counter trading as well as investment trusts. All Genesis services claim to combine innovative technology with support from a team of experts. Using the Genesis system, individuals and institutional investors can buy and sell large blocks of digital currencies through a secure and supported process.

Here are the three specific services offered by the trader:

Over-the-Counter Trading

You can buy or sell digital currencies through a secure online platform. Traders enjoy same day settlement.

The Genesis platform lets you track and manage your buy and sell transactions through a centralized dashboard. Traders also enjoy features like secure protocols and regular third-party security audits to limit external vulnerability. All login and banking information is encrypted using SSL.

The Genesis team offers 24/7 transaction support. They’ll also keep you up-to-date on the latest trends from the world of cryptocurrencies.

Ethereum Classic Investment Trusts

Genesis Trading is the marketing and distribution agent for the ETC Trust, a traditional investment vehicle that allows investors to gain exposure to the price movement of ETC. It works in a similar way to the firm’s Bitcoin Investment Trust.

Bitcoin Investment Trust

The Genesis Bitcoin Investment Trust provides titled, auditable ownership of bitcoin through a traditional investment vehicle. The Bitcoin Investment Trust claims to be the first investment vehicle solely invested in and deriving value from the price of bitcoin.

At the time of writing (June 2017), the Bitcoin Investment Trust was closed to private placements.

One of the unique things about the Bitcoin Investment Trust is that it’s eligible for tax-advantaged accounts (like certain IRAs, Roth IRA, and other brokerage and investor accounts). Shares in the trust are also publicly quoted. To view information about the trust, check the symbol GBTC on OTCQX.

The trust is also supported by legal counsel provided by Davis Polk & Wardwell LLP. Additionally, financial statements for the trust are audited annually by Friedman LLP.

In terms of security, the trust’s assets are stored with Xapo, Inc., which holds the coins in deep cold storage vaults. The funds are held on multisignature addresses, “the private keys for which are protected by intense cryptographic, physical and process security.”

About Genesis

Genesis Global Trading Inc. is led by Chief Executive Officer S. Michael Moro as well as Martin Garcia (VP, Sales & Trading), Michael Paleokrassas (VP, Sales & Trading), and Gina Guarnaccia (VP, Operations).

The company is based in New York City. You can learn more about Genesis and its team on their website.

Genesis Conclusion

Genesis is a cryptocurrency trading platform catering to high net worth individuals and institutional investors. The minimum trade is $25,000. Genesis has been actively trading since May 2013 and offered two-sided liquidity on a daily basis for bitcoin, Ethereum, and Ethereum Classic, among other digital assets.

Genesis is more than just an OTC trading platform. The company also offers a bitcoin investment trust and an Ethereum investment fund, both of which are highly-regulated, highly-secured, and regularly audited.

Ultimately, if you’re interested in the world of cryptocurrency, and you’re a high net worth individual or institutional investor, then Genesis Global Trading Inc. may be worth a look.