Robinhood Launches Commission-Free Crypto Trading ter Four US States
Investors can now trade bitcoin and Ethereum for free ter a handful of US states. Spil promised, Palo Stop, Calif-based online brokerage Robinhood Financial has flipped out commission-free trading for bitcoin and Ethereum across California, Massachusetts, Missouri and Montana, the company said on Twitter. Spil CCN previously reported, users will still be responsible for fees charged by the underlying exchanges. But you can’t ritme the quick access to funds.
There may have bot some kinks with the launch of Robinhood Crypto, spil evidenced by Twitter followers te roll-out states who complained they still didn’t have access. Others said the app, which te addition to cryptocurrencies supports stocks, options and ETF trading, is working like a charm.
Commission-free Bitcoin (BTC) and Ethereum (ETH) trading is now spinned out and available to investors te California, Massachusetts, Missouri, and Montana. Stay tuned for more updates!
Robinhood Crypto’s expansion gives more competition to the hundreds of other bitcoin exchanges investors have to choose from, including US-based Coinbase, which is among the leading trading platforms and presently boasts more than 20 million users and more than $150 billion ter trades. Coinbase’s US trading fees are inbetween 1.5% to 4%.
Instead of generating revenue from fees, Robinhood relies on rente accrued ter user accounts plus a fee- and tier-based subscription proefje for users who upgrade to Robinhood Gold for higher instant deposit amounts and access to borrowed funds for trading. Robinhood isn’t 100% dedicated to cryptocurrencies, spil they also support stock market investing. But even before cryptocurrencies, their treatment has bot to cut out hefty fees associated with investing so “not just the wealthy” benefit from brokerage advice and implements, spil vanaf the webstek.
More States, More Altcoins
Robinhood’s Twitter followers were quick to ask when the toneelpodium would open to investors te other states such spil Florida and when they will add more altcoins. But considering that te one week’s time more than 1 million investors preregistered for this ogenblik and millions still were placed on a waiting list, Robinhood has just made the day for many US traders.
Robinhood Crypto wasgoed also expected to reach Fresh Hampshire, but Robinhood also said the rollout would be “gradual,” adding that they project to “release crypto trading functionality te many more states zometeen.” They also project to support more altcoins ter time. It’s available on Android and iOS.
Courtesy: Robinhood Webstek
While traders are limited to trading BTC and ETH, they can access market gegevens on more than a dozen altcoins. Robinhood Crypto offers features like ‘instant access” to funds via deposits or stock sales, which is a streamlined treatment that traders are sure to like contra the alternative of waiting for their funds to arrive on other platforms.
Featured picture from Shutterstock.
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