Winklevoss Twins Cryptocurrency Exchange Gemini Now Supports Stop-Limit Orders
Cryptocurrency exchange Gemini has announced the support for Stop-Limit orders, which the exchange says has been one of its most requested features.
We now have Stop-Limit orders! 👍🚀https://t.co/FGgZ6SmvnM
— Tyler Winklevoss (@tylerwinklevoss) November 14, 2019
Starting today, Gemini users can place buy or sell Sell-Limit orders on all order books.
Stop-Limit orders are common in traditional asset marketplaces that give traders more control over trading strategies and order execution. These orders are typically used by traders to manage the risk.
A Stop-Limit order has a Side, a Stop price, and a Limit price and this is how it works:
“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.”
Recently, the US-based exchange started using Sovos’ technology to modernize its tax information reporting and help its users comply with the tax requirements in a convenient manner.