The zero commission champion, Robinhood, has started offering transactions with zero fees even for those who want to buy and sell cryptocurrencies, starting with Bitcoin and Ethereum. But to access the service, active only in some American states, there is a long waiting queue, at least one million people.
The interest in the Robinhood brokerage site, which has reached four million users due to its completely free commissions on financial transactions, exploded in January when it announced the new service Robinhood Crypto, promising to cancel the fees also on cryptocurrencies: since then it has added another million subscribers.
This service is currently limited to residents in California, Massachusetts, Missouri, Montana and New Hampshire.
With this move, the US startup, recently valued at 1.3 billion dollars in the last round of financing, aims to compete directly with the official exchange platforms for cryptocurrencies, including Coinbase, which aims at listing with a slightly higher valuation, equal to 1,6 billion dollars.
The elimination of Robinhood's fees does not include those provided for the miners, the operators responsible for the development of the Bitcoin system and the certification of individual transactions in the blockchain. These are fixed fees that arrived in January up to a peak of $ 55 fixed for each transaction.
Do we get in line too?
Musclenerd ;)
If cryptos are supposedly private and untraceable, how can it be limited to only a few states?