Robinhood started offering Bitcoin and Ethereum today and there is no trading fee. So, customers can buy without any fee. Good for people want to avoid huge charges by other cryptocurrency exchanges like Coinbase. Some more details.
- Service currently limited just to few US states which includes California, Massachusetts, Missouri, Montana and New Hampshire
- Robinhood proposed to spread operation to most US by mid-year.
- Robinhood will give a direct competition to Coinbase which also has similar customer target. Both companies started around same time but Coinbase gain about 13 million customers while Robinhood had only about 3 million before announcing free cryptocurrency trading. About 4 million people have signed up to open accounts at Robinhood after announcement for cryptocurrency trading. So, cryptocurrency must has given a good boost to the startup.
- Robinhood made news in past when it started offering free stock-trading though its app. Let's see how it perform in the field of Cryptocurrency.
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Quick update is a series written by me (@sumanpuja) to quickly update my followers and Steemit community with most recent happenings in my expertise areas. I will come up with the detailed analysis of the topics later if I get good response in the form of comments and upvotes.
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