Robinhood trading has recently announced that they will entering the crypto-currency market with up to 16 coins to choose from.
I have to admit that I was pretty excited when I first heard this. In my opinion their announcement it's just another sign that the cryptocurrency market is here to stay.
The company first made news when they launched their stock trading platform that allows customers to purchase stock with almost no fees. About 5 months ago I wrote an article about the company. Here is a clip from that article giving some information about the company itself:
More info on Robinhood Trading from Wikipedia
Robinhood Markets offers a free stock trading app.
The company keeps the cost low by having no storefronts.
The firm is a FINRA-approved broker-dealer, registered with the U.S. Securities and Exchange Commission and is a member of the Securities Investor Protection Corporation (SIPC).
They currently have over two million users.
Initially when the firm launched they had a waiting list of 100,000 people, by Sept. 2014 the waiting lay was up to 500,000 people.
Currently 50% of Robinhood's customers who have made a trade, visit the app daily. As of 2017 the company has executed over 30 billion in trades.
Currently they are running a promotion offering new users a chance to earn free stock simply by downloading the Robinhood App and signing up with them. "
Robinhood Trading entering the cryptocurrency market is wonderful news for the industry itself. The idea of purchasing with little to no fees seems almost fantasy. Their presence in the market is bound to give Coinbase a run for its money. It's true that added competition will probably make Coinbase a little nervous, but it's great news for the rest of the industry. I've even heard few experts say that Robinhood has the potential to replace Coinbase. Either way the added competition promises to benefit the industry itself.
I will admit that I am a little sad that I will have to wait before I can use Robinhood to buy cryptocurrency. Here is a little information that I found in the help section of the Robinhood app:
Though using their platform won't be an option for me immediately, at least I know it will be an option later on. Luckily I was introduced to Robinhood about 5 months ago and I already have my account setup. One of the cool things about Robinhood is that they have great referral promotions. One of the things that made them so popular was the ability to earn free stock by simply referring friends to the app. Their promotion allows both the person referring and the new customer to receive a free stock for simply joining the program. I can only imagine that later on this promotion will include cryptocurrencies, but I'm just guessing. When Robinhood first launched there were over 500 thousand people waiting for access to the platform. I can only Imagine how long the line will be once cryptocurrencies hit mainstream. So why wait to everyone else is signing up, you might as well sign up now. You might even find a few stocks you might want to buy.
So here's my refer a friend link. If anyone is interested in earning a free stock just click on the link and check it out for yourself.
Here's a the video by Jsnip, one of my favorite crypto personalities, discussing his view of Robinhood joining the cryptocurrencies market.
Join Robinhood and we'll both get a stock like Apple, Ford, or Sprint for free. Make sure you use my link to receive the free stock. http://share.robinhood.com/irwing3
Thank you for sharing with me I hope this post has inspired you to at least do some research on the Robinhood platform. Can also check out some of my earlier articles listed below.
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If you are interested in receiving some free stock from Robinhood here is my referral link again. http://share.robinhood.com/irwing3