Robinhood officially launched the trade in cryptocurrencies through its mobile application in five US states. If the success of the undertaking meets the expectations, the company plans to expand the geography of the service.
Residents of California, Massachusetts, Missouri, Montana and New Hampshire can now buy and sell Bitcoin and Ethereum using the new Robinhood Crypto platform. Also, market data for another 14 altcoyins will be available to users: Bitcoin Cash, Litecoin, XRP, Ethereum Classic, Zcash, Monero, Bitcoin Gold, and Dogecoin.
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Robinhood for the first time announced the opening of trade in cryptocurrencies without commission for users from five states at the end of January, for the first four days afterward more than one million people signed up for the new service.
Over the past few weeks, we have been amazed by the enthusiasm for Robinhood Crypto and are pleased to make their significant contribution to the cryptocurrency community. Together we reached 4 million users and over $100 billion in the volume of transactions on our brokerage platform, which resulted in savings of more than $1 billion commission on stock trading. With the launch of Robinhood Crypto, we continue our mission to create a financial system for all, not just for the rich.
the company said in a statement.
Also, the company promises shortly to launch the media platform Robinhood Feed, where investors can discuss cryptocurrencies, news and market events in real time. Now the channel is available only to a limited number of users.
Information Source: Robinhood