Robin hood one of the most popular free stock trading apps is now jumping full force in Cryptocurrency. They are adding a zero fee buy and sell for bitcoin. This is huge news to come out as they will be putting more competition into the ring against Coinbase. As we all know Coinbase charges 1% - 4% on all charges which is a large fee just to purchase each time.
“We’re planning to operate this business on break even basics and we don’t plan to profit from it for the foreseeable future” says Robinhood co-founder Vlad Tenev. “The value of Robinhood Crypto is in growing our customer base and better serving our existing customers.”
“[Cryptocurrency] puts power that’s historically been held by financial institutions in the hands of the people. I think that lines up directly with Robinhood’s mission to democratize the financial system” Tenev tells me, concluding “We’re an established company and we can handle it”. The confidence to burst into the wild west of crypto could either tank his startup with a massive security fail or greatly boost its traction.
The list of coins you can track on robinhood are Eth, BCASH, Litecoin, Ripple, Ethereum Classic, Zcash, monero, Dash, stellar, Qtum, BitcoinGold, OmiseGo, NEO, Lisk and Dogecoin.
Just based on the quotes alone Robin Hood I am riding with you! Please launch in My City soon, It is great to see all these other companies jumping into Crypto after the likes of (STRIPE) not allowing for Bitcoin Debit cards to be useful anymore. Two thumbs up to Robinhood and I welcome them to Crypto Space!
https://techcrunch.com/2018/01/25/free-cryptocurrency-trading-app/
