Robinhood, the organization that is best known for its free stock trading service, has recently introduced a similar offering for cryptocurrencies. As a result, select Robinhood customers are now able to buy and sell Bitcoin, Ethereum and 14 other cryptocurrencies, commission-free.
The Robinhood Crypto service has been rolled out gradually to customers residing in California, Massachusetts, Missouri, Montana, and New Hampshire; with more states expected to be added at a later date.
In addition, the company has also introduced Robinhood Feed, touting it as a “brand new way to discuss cryptocurrencies, news, and market swings in real-time” with other investors on Robinhood. Initially, the Feed is available to a limited number of people on the platform and will evolve based on users’ feedback.
Can Robinhood make cryptocurrencies mainstream?
We can’t be but excited to learn about Robinhood’s plans, but we gotta wonder can it make cryptocurrency trading more appealing to the general public? Chances are it will bring more users to the “crypto world,” but will that make a dent in the bigger scheme of things? We are not sure, but we are definitely rooting for Robinhood.
It reached 4 million users and well over $100 billion in transaction volume on it brokerage platform, leading to over $1 billion in commissions saved in equity trades. With the release of Robinhood Crypto, it is continuing to deliver on its mission to make the financial system work for everyone, not just the wealthy.
We can’t but love how that sounds. 😉