In less than four days, Robinhood announced that it is going to offer commission-free trading in cryptocurrencies, but since then more than a million users have signed up for early access to the new platform cryptography.
The queue for early access to this service is increasing with every minute. If all registered users become customers of Robinhood, this will mean an increase in the overall user base of the platform by more than 30%, bringing the platform closer to the mark of 3 million accounts.
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Representatives of Robinhood say that crypto-sales start in February, but this service will be deployed gradually. Initially, it will only be available in five US states. By the middle of 2018, the plans of the platform - to take on board all comers, however, since the demand was unprecedented, the timing of the implementation of the project may change.
The co-founder of the company Bart Stephens commented on this situation:
For me, this shows the interest of current generations in cryptography, but if Robinhood hurries to accept all comers, it will face the same problems as Coinbase.
Recall, Coinbase, at some point ceased to cope with the flow of customers, closed merely their access for a while, while the servers were overloaded. According to Stephens, it is unlikely that this approach can be called professional by the firm, which last year received more than a billion dollars in revenue from these customers.
I think we're going to be seeing more and more of these on-ramps," Stephens said. "I think this is the beginning of a colossal wave embracing this asset class.
Information Source: Robinhood