The Robinhood mobile application, which will be launched in February, will allow users to trade Bitcoin and Ethereum at no cost.
Announcement, 0.1% per transaction on platforms such as Coinbase. It attracted a lot of attention from users who are used to paying fees from to 4%.
Real trading feature only for Bitcoin and While applicable to >Ethereum, Robinhood also allows users to track the price of a number of other cryptocurrencies, including Ripple and Litecoin
The company’s goal is to create a huge platform that more than 3 million users can use by selling at a loss in cryptocurrency trading without trading fees.
Robinhood co-founder Vlad Tenev told TechCrunch:
“We plan to be successful at the core of this business and do not plan to generate profits for the foreseeable future. In line with the purpose of Robinhood Crypto’, we want to expand our customer base and serve our customers better.”
In addition, the company offers simple-to-use analysis and trading tools, enabling more hopes to attract more users.
Robinhood, “We believe that cryptocurrencies have the potential to reconfigure the way money works and that power that was previously held by financial institutions is in the hands of the public.”
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