Blockchain

Robinhood Already Gets 1 Million Early Access Sign-Up's After Free-Crypto Trading Announcement

The service will start from February, the app already has 3 million users

Trading Announcement

Robinhood, the cryptocurrency trading platform is coming up with a new strategy to lead the crypto-world. The company has announced that it will be starting zero-fee cryptocurrency trading service from February. On Thursday, the company has noted in a blog post that, from the next month it will charge no fee for trading the Ethereum and Bitcoins from its users. After the Robinhood LLC announced the zero-cost crypto service, more than 1 million have already signed up for the ‘early access’ in the app.

The news is quite buzz making for the crypto-traders as for now they have to pay the transaction fees ranging from 0.1 % to 4 % on the platforms like Coinbase. Robinhood has cracked that the higher transaction fee is still holding back some of the potential users. This is the reason the company turns into a zero-stock trading platform for the Bitcoin and Ethereum users.

“We saw an opportunity to build a better experience to trade cryptocurrencies, one where you can invest commission-free in cryptocurrencies alongside stocks, ETFs, and options, track different coins, and read the market news. Meet Robinhood Crypto and get early access here.” the company wrote on their blog. In addition to this, the crypto-traders can also keep a constant eye on the other cryptocurrencies updates, market data, and the news. The app also gives a service of custom alert for the price of 16 cryptocurrencies including, Bitcoin, Ethereum, Bitcoin, Cash, Litecoin, Ripple, and Zcash.

However, the promise that Robinhood has made with the cryptocurrency fans won't be easy for the company to keep. Recently, we have seen even the other exchange platform suffered from the server and downtime issue while handling a large number of transactions. Now, when more than 1 million users have already signed up for the free trading, it will be quite challenging for the company to perform everything seamlessly.

After Robinhood announced to start the free trading for Bitcoin and Ethereum users, within the four days over 1 million users have signed up for an early access. If all these users get converted into the trading platform’s customer then it will be a 30% increment in the company’s overall user database. While explaining the latest move, Vlad Tenev, co-founder of Robinhood said that the company is planning to expand the business and seeking no profit. The free-trading will help in attracting more users to the cryptocurrency, which is the best digital mode of transaction. Cryptocurrencies hold the potential to revolutionize the trading world by giving powers directly into the people’s hand instead of any governing body.

Vikram <span>Content Manager</span>
Written By
Vikram Content Manager

Vikram is an experienced wunderkind, who embraced technology at a very early age, and today he is at the helm of it. Mobile apps are something that excites him the most, and now he is up to give this vertical the best shot. He routinely catches up with the new apps and comes up with the top apps that can excite you to the core.

Want To Hire The Best Service Provider?
MobileAppDaily will help you explore the best service providers depending on your vision, budget, project requirements and industry. Get in touch and create a list of best-suited companies for your needs.
Blockchain

The Burning Debate: Can Blockchain be the Next Solution to Data Sharing?

4 min read  

Business transactions are meant to be secured irrespective of the platform they have been traded upon. It is important for every entrepreneur to take them to parallel with the other processes in the business.Be it the government authorities or any private entrepreneur, the traditional ways of bu

Blockchain

A 10 year Journey: How Far Has Bitcoin Come?

2 min read  

This week, Bitcoin Whitepaper marked its 10 year anniversary; a significant milestone for cryptocurrencies. This journey was started over a decade ago when Satoshi Nakamoto's vision manifested into a reality. By posting the 'Bitcoin: A Peer-to-Peer Electronic Cash System' white paper on

Blockchain

What to Consider in Selecting a Bitcoin Wallet App?

4 min read  

Bitcoin, the most popular cryptocurrency, has found significant usage in the online world over the last decade. Many industries have already embraced it as a means of payment. Currently, more than 120 stores worldwide already accept the digital currency Bitcoin and a lot of others are expected to fo

Blockchain

Why Blockchain Platforms are Becoming a Priority for Investment?

4 min read  

The cybersecurity industry has lately been buzzing with security concerns daunting the digital age. Incidents such as the Kaspersky Lab fiasco where the Department of Homeland Security (DHS) issued a directive on Sept. 13 banning the use of Kaspersky Lab software at federal agencies, is making enter

MAD Originals
MAD Originals

Cut to the chase content that’s credible, insightful & actionable.

Get the latest mashup of the App Industry Exclusively Inboxed

  • PRODUCTS
  • SERVICES
  • BOTH
Join our expansive network, build connections and expand your brand presence.