Robinhood Offers Free - Trading For Cryptocurrency Users
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

Robinhood Already Gets 1 Million Early Access Sign-Up\'s After Free-Crypto 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.

MAD Team
Written By

MobileAppDaily host a team of experienced technical writers, industry wizards, and app experts who have an exact knack of content that caters to the needs of the mobile app targeted audience. We strive to bring you the best of tech!

Top Companies

InMobi
Singapore
Dot Com Infoway
New York, USA
M&C Saatchi Mobile
New York City, USA
Techmagnate
New Delhi, India
Fetch
London, UK
View full report

Latest Articles

Join our global community 135K Followers
Blockchain

Bitcoin's Real Worth Might Be $0 Warns Morgan Stanley

4 min read  

The financial mechanism of bitcoin is as tough as the concept itself. The virtual digital currency has created all the hype all these years only to break all the records (the worth) the cryptocurrencies had ever made. Bitcoin was all there in the news owing to the worth it has gained in a short-time

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 parallel with the other processes in the business. Be it the government authorities or any private entrepreneur, the traditional ways of business

Blockchain

I Am Not A Bitcoin Fan, Says Alibaba Founder Jack Ma

4 min read  

Bitcoins, the cryptocurrency that recently thrilled all of us and the price surge last week were beyond speculations has become an internet sensation. Everyone is talking about the Bitcoin and Blockchain technology but you must be thinking what the business leaders think about the bitcoins and and h

Blockchain

Blockchain Of Things: A Systematic Audit On Collision Of Two Disruptive Technologies

4 min read  

The entire tech-world is apprised of all the traditional and latest developmental technologies. Blockchain and IoT reside in the technology list of the most promising technologies that are ready to hit the technical grounds with their powerful development aspects. The world has already been introduc