WinkDex from Winklevoss Brothers to Provide the Latest Bitcoin Prices

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WinkDex from Winklevoss Brothers to Provide the Latest Bitcoin Prices

The Winklevoss twins have long been known for making the right investment decisions, have now launched a new product called the WinkDex. It is an iOS app that monitors the price of Bitcoin in real time, as averaged from several Bitcoin exchanges. They say that it can also convert Bitcoins to U.S. dollars and displays charts mapping the ups and downs of the digital currency.

Those who have been observing the Bitcoin ecosystem know that Tyler and Cameron Winklevoss are no strangers to the industry. In fact, in 2013, the twins told the New York Times that they owned $11 million worth of Bitcoin. Like WikiLeaks they were the early investors and that is where their profits are.

They have overcome the days of Facebook wherein they had to get into a legal battle. Now Tyler and Cameron Winklevoss are big Bitcoin supporters who reportedly own 1% of all available Bitcoins which is quite significant in terms of exchange value that has gone up significantly over two years.

Moreover, as the value of Bitcoin has swung wildly since they had invested and trading around $400 currently and peaked up at $1,200 in November 2013. Making wise decisions the Winklevoss twins, or “Winklevii,” as they are colloquially known, invested early and now reaping dividends.

Winklevoss Twins have been Early Bitcoin Investors

The twins are also running an investment firm Winklevoss Capital which backs a number of Bitcoin-related startups and exchanges that includes BitInstant. Now, adding to the list is the latest app, WinkDex. They claim that the app will help users monitor the average price of a Bitcoin in real time. Also, they can calculate Bitcoins to USD instantly, and see historical charts.

It has been shown and elaborated by Tyler Winklevoss WinkDex uses a formula to calculate the actual price Bitcoin is trading at instead of the mid-point of the bid. He says that the app pulls from multiple data sources, including Bitstamp, Bitfinex, BTCE, CampBX and LocalBTC. The price WinkDex displays is calculated based on volume of only the top three exchanges.

According to him the app doesn’t currently have price alerts or notifications, although Winklevoss says that’s in the pipeline. The official website says that Winklevoss IndexSM (also known as WinkDexSM) is a pioneering effort in the analysis and presentation of global Bitcoin pricing and currently uses data from the most active qualified U.S. dollar denominated Bitcoin exchanges.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com