This action follows the fact that it is taking much longer for transactions to get mined into a block and then included in the blockchain. The new zero-confirmation pre-credited Bitcoin deposits could ease these deposit delays.
Describing how it works, Eric Winer, VP of engineering at Gemini, explained in the blog post “we’re running every Bitcoin deposit on Gemini through a proprietary analysis to determine how likely it is to get confirmed, even if the network is clogged with other transactions. If your transaction passes our criteria (which may take a few minutes), we’ll pre-credit the amount of your deposit and make it available for trading immediately. Our tests show that around two out of three deposits meet the criteria for being pre-credited”.
Furthermore, this new launch enables users to trade in Gemini’s daily two-sided auction immediately. When users deposit reaches its required three confirmations, they can then withdraw the amount of deposit or any USD or ETH purchased with their deposit.
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