If you have ever used Coinbase you'll know that it goes hand in hand with high fees and long wait times to get your hands on crypto or sell it for USD. But good news has arrived if you want to fill or empty your bags of bitcoin or ethereum!
On Thursday, the zero-commission stock trading platform Robinhood let the world know that U.S.-based users will be able to buy and sell bitcoin and ethereum — the two largest cryptocurrencies right now — without any transaction fees starting next month.
This is a game changer! There is no doubt in my mind that this news will generate a lot of excitement and positivity in cryptocurrency investors and traders.
There's no doubt in my mind that we will see this next futures contract result in sky-rocketing BTC and ETH prices. Something very welcomed by cryptocurrency believers across the world.
As an added bonus, Robinhood will not impose any maximum or minimum limits for cryptocurrency trading, nor will there be any withdrawal limits.
Also, as of today, users can now track the prices and breaking news of some of the biggest cryptocurrencies on the market on their mobile devices.
Of course the party isn't going online everywhere all at once. Initially this crypto trading feature will only be launched in the states of California, Massachusetts, Missouri, Montana, and New Hampshire. It is important to note that the company does plan to add remaining states soon afterwards.
“Now in Robinhood, for the first time, consumers will be able to invest in and trade stocks, ETFs, options, and cryptocurrencies all in one place. You don’t need to have different apps or be checking stocks on Robinhood and then logging into some exchange in Asia to trade your cryptocurrencies. It’s all consolidated,” said Baiju Bhatt, Co-Founder and Co-CEO of Robinhood, alongside Vlad Tenev.
After a bit of digging I was able to learn that Robinhood’s consumer base has grown to more than three million users with a transaction volume of about $100 billion in the short time it has been around. In comparison, Coinbase only has 13 million customers globally.
What this means is that open sesason is about to begin on cryptocurrencies! I hope you guys all have front row seats!
What are your thoughts about this news? Do you think this new development with the Robinhood platform will send prices skyrocketing? Why or why not?
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Source:
Move Over Coinbase: Robinhood Adds Zero-Fee Crypto Trading Feature - Cryptocurrency News
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