The United States-based Fintech Services and mobile stock trading app Robinhood Crypto has added two new cryptocurrencies to its no-fee trading service. Robinhood Crypto which was launched its zero-fee crypto trading platform in February has added support for Litecoin (LTC) and Bitcoin Cash (BCH).
Robinhood Crypto quoted in a blog post note :
Since we launched Robinhood Crypto in February, our customers have voiced interest in buying and selling other cryptocurrencies beyond Bitcoin and Ethereum. We’re happy to share that starting today, you can buy and sell Litecoin and Bitcoin Cash, commission-free.
The exchange has already been supporting the top coins like Bitcoin, Ethereum, Ripple, Ethereum Classic and many more, the aim of Robinhood Crypto is clear, they want to disrupt the way traditional exchanges have their fee structure set for the customers. Providing zero-fee trading has already gained a lot of popularity.
At Robinhood, we’re guided by the belief that America’s financial system should work for everyone – not only the wealthy.
In the meantime, everyone on Robinhood can monitor market data, read cryptocurrency news, and create price alerts for 16 coins: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Ethereum Classic, Zcash, Monero, Dash, Stellar, Qtum, Bitcoin Gold, OmiseGo, NEO, Lisk, and Dogecoin.
Baiju Bhatt (pictured) and his co-founder own about a third of the company, Robinhood or $1 billion each on paper. David Paul Morris/Bloomberg. Image Source: thenational.ae
Robinhood Crypto: Operations and Updates
Robinhood Crypto is currently operating in the United States, California, Massachusetts, Missouri, Montana, and New Hampshire. The operations are expanding but mostly in the markets in and around the United States. Global Expansion is not yet being considered by the exchange.
More States: Over the past few months, we’ve launched cryptocurrency trading in 13 states (AZ, CA, CO, FL, MA, MI, MS, MO, MT, NM, PA, UT, WI) and look forward to making cryptocurrency trading available in more states
Feed: Share instant status updates when you buy or sell Bitcoin or Ethereum in the Robinhood App, or simply tune in to the discussion to stay on top of what’s happening in the cryptocurrency world.
Price Alerts: We’re rolling out real-time push notifications to alert you of significant price swings for tradeable cryptocurrency on your Watchlist.
So, What’s Next for Robinhood Crypto?
Over the next couple of months, we’ll be launching new tools for options trading across our platform such as more advanced options strategies, and more comprehensive discovery tools to support them. Robinhood Crypto will continue to launch in more states, and you’ll be able to track and invest in additional coins. You’ll also be able to better keep track of and manage your stock referrals on Web.
By the end of June, Robinhood Crypto was under a rumor blanket that they were launching their very own cryptocurrency wallet. The rumors got more weight when the exchange posted a job listing for cryptocurrency engineers.
The exchanges act as a bridge between the technology and the investors. It is also vital how these exchanges are supporting their customers. With almost 5% to 7% as the spread of the trading fee that the exchanges charge on the customers is not judicious enough. This is where exchanges like Robinhood are taking over the business.
Image Source for the featured image: forbes.com
In the featured image Robinhood co-founders Vlad Tenev, left, and Baiju Bhatt pose at company headquarters in Palo Alto, Calif. (AP Photo/Ben Margot)
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