Hello my fellow Steemians and Crypto Investors,
I’m writing this post with plenty of excitement since I just received a notification email from the mobile finance app Robinhood Crypto telling me that Bitcoin & Ethereum commission-free Crypto buys are now available for Florida users!
I have been waiting for a long time for this, not only because it’s very good news for the Crypto investment world in general, but also because I don’t appreciate Coinbase fees that much. Now I have a way to buy Bitcoin and Ethereum, the main gateway cryptocurrencies, without commission fees!
Over a million people have signed on to use Robinhood’s Crypto Service.
Does this mean Coinbase is doomed?
Robinhood Crypto is slowly advancing, US State by US State, in bringing their commission-free Crypto currency buys to American users. However, Coinbase is already an established, global mega corporation with a loyal user base around the world.
Email from Robinhood to Florida users. It's alive!
Also, there are still plenty of new users to bring into crypto. According to a survey by the personal finance website Finder.com, only about 8% of Americans currently own cryptocurrencies so there’s plenty of room to grow for all companies involved.
This will bring much needed competition to the space and will likely make Coinbase rethink their fee strategy, diversify and improve their services to stay competitive. I don’t think it will make a big dent in their current user base.
Robinhood Crypto is currently available to customers in the following states:
• California
• Colorado
• Florida
• Massachusetts
• Mississippi
• Missouri
• Montana
• New Mexico
• Wisconsin
They plan to add support for more states soon!
Join Robinhood through this registration link and we'll both get a stock like Apple, Ford, or Sprint for free, plus you'll enjoy commission free crypto currency buying!
Latest update
I just bought my first $50 dollars at Robinhood. The process of linking up a bank account was seamless and pretty easy. I got the Bitcoin in my account right away.
Something I'm not liking: I haven't found a way (yet) of transfering the BTC to a hardware wallet.
My advise until such feature is implemented: Don't buy any large amounts there yet. Only test the waters with small amounts. You don't want to be a victim of another MT. Gox situation in a centralized exchange.
This is what they say in their FAQs:
Can I withdraw my coins?
At this time we don’t support coin withdrawals, however, we plan to do so in the near future.
Are you currently on the list to buy Crypto Currencies from Robinhood?
Do you think this is bad news for Coinbase?
Feel free to share your thoughts on this post with the Steemit community in the comments below!
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Accumulating patiently like a professional hodler.
Panic selling like a hopeless noob.
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If you answered 2, sell everything and become a pimp. It's the only way you will be able to keep selling bottoms, haha!
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64.48
i used to trade stocks in robinhood and its pretty good up, they have also an exceptional tea working behind robinhood. And i’m excited to go back to pensacola and do some shorting. Lol
Thanks for the heads up.
I will try it.
So it is one way traffic so far so Coinbase still the king with GDAX.
Keep on steemin'
I am really happy to see more competition coming into the game to challenge coinbase.
I personally am not a fan of coinbase thankfully there are now numerous alternatives to that terrible platform. We don't have access to robin hood in my home town just yet but we will soon
Coinbase is probably doomed for lot of reasons but i dont think robinhood is one
Since you can't withdraw your coins from Robinhood, Coinbase shouldn't lose much
UPVOTED | RESTEEMED | FOLLOWED | THANK YOU
Coinbase is not going anywhere for a while.
Coinbase is diversifying into other businesses because it know it can’t stay in the lead forever. It’s not just Robinhood here, there’s immense global competition. Plus the major exchanges will enter soon.
Robinhood in Colorado! Upvoted and resteemed!
Aren't fees a part of the bid/ask spread? Or isnt the bid ask prices on robin hood always higher than the price on exchanges?
Sorry don't live in the US so will never access robin hood.
I wish you a happy day and a better life
LOL so they let you buy crypto but wont let you withdraw it... hrmmmm.....
YASSSSSS I LIVE IN FLORIDA lol
If you haven't registered yet please use my affiliate link and get a free stock too. Don't pay those Coinbase fees anymore!! regards @bitcoinflood
Check out the latest update to the post. Don't buy any large amounts just yet.
First off, great post- I enjoyed the read!
I believe Robinhood does allow you to withdraw your coins, but you have to specifically contact Customer Support and provide additional verification to do so.
I think Robinhood is targeting the demographic that want to dip their feet into the "cryptowaters" at an even earlier stage than Coinbase. Even though you can do the same thing with Coinbase, Robinhood does a pretty good job of simply treating crypto like a volatile stock to the end user in the sense that you can buy it and sell it right alongside Apple or Tesla stock.
Glad to know you can buy some btc,
Sad to know i can't buy :(
I'm from Pakistan :(
wish you best of luck.
You can buy at https://localbitcoins.com/country/PK. Not as easy or inexpensive as Coinbase or Robinhood but it's a small price to pay for buying a stake in the future.
This is a time of accumulation. Robinhood is making some big moves here and if Coinbase customer service doesn’t buck up m. Yes robinhoogmd will contend. Robinhood bridge between crypto and fiat orders and investing.
That's because there is no transfers in or out of your Robinhood wallet yet. They say they are implementing this "soon."
Even so, as a Floridian I'm pretty stoked
Robinhood crypto will shortly gain its fame ,although it is available for several countries for now but this thing is gonna change the crypto transactions for sure...
Thanks @cryptoeagle
Only thing I wish they change is they don’t take your social security but its core is stocks. form a crypto perspective its better!
bitcoin is unstoppable.
it's good news for florida. Gratefulness.
that is damn true..
Theyes certainly will need to adjust and explore other revenue streams else they will be hurt badly
cryptocurrency , thanks for investment bitcoin information
is this offer only for florida?
anyway your dreams now true.
enjoy.......
For now yes, they are expanding but it takes time. Coinbase is available on many other countries already. Check it out: https://support.coinbase.com/customer/en/portal/articles/1392031-what-countries-are-buys-and-sells-available-in-
Coinbase is probably doomed for lot of reasons but i dont think robinhood is one
What other reasons do you have in mind?
They have 4 coins listed. No other listing on horizon. Other exchanges are starting fiat trading. Reduculously high fees. Just to name a few
i used to trade stocks in robinhood and its pretty good up, they have also an exceptional tea working behind robinhood. And i’m excited to go back to pensacola and do some shorting. Lol
Congratulation cryptoeagle! Your post has appeared on the hot page after 21min with 59 votes.
Hello interesting article! I follow you, and you follow me. Let's develop the power of Steemit together, so we can achieve more! Upvoted your post! ;)
Really informative ..
thanks for sharing
Nice post sir..............
@cryptoeagle Wow! wish you best of luck........
Thanks for sharing this cryptocurrency news update providing....I love steemit.
Wow this is awesome piece it is really informative. It is brilliant of you to have venture into such research before taken step forward. I can say it is a good update for people will recide in US but I don't know if it can be of advantage to those of us who isn't living in United States. You have really make such a great step toward the future, I assume that you believe and trusted before investing into the crytocurrecy I believe a lot steemian could emulate your courage too. Cryptocurrency I believe have a desirable future. Steem on man. Keep the good work flowing. Keep us updated, you are always good at this
wow superb man congratulations 💖. many many more success to you all the best :)
This post has received a 40.04 % upvote from @boomerang.
it's good news for Florida. @cryptoeagle
I laugh, of course, bitcoin your post is nice and funny. Regards
Where's the resteem?
Done it
I personally am not a fan of coinbase thankfully there are now numerous alternatives to that terrible platform. We don't have access to robin hood in my home town just yet but we will soon
Don't copy text from others (in this case from @masterroshi)!