Robinhood, a financial company based in California has recently declared that it will begin the trade of major cryptocurrencies: Bitcoin, Litecoin, and Ethereum on its platform (surprisingly Ripple’s XRP not included), Robinhood Cryptocurrency.
Indeed, this comes as great news as it will allow 4 million potential investors to trade not only on cryptos but on stocks, bonds, ETFs and also other features that have been rolled out by the financial company.
It is important to know that these features are slowly being released to the platform users that reside in these American states: Massachusetts, California, Montana, Missouri, New Hampshire, Alaska, Arizona, Colorado, Florida, Georgia, Indiana, Iowa, New Jersey, New Mexico, Oklahoma, Pennsylvania, Rhode Island, Texas, Utah, Virginia, and Wisconsin. The company has stated its features will be released to other states as time goes by.
At the time of the launch, RobinHood stated on its Twitter page:
Robinhood Crypto has anchored in Rhode Island. Trade Bitcoin, Litecoin, Ethereum, and other cryptocurrencies commission free. pic.twitter.com/G9WkGcYgmU
— Robinhood (@RobinhoodApp) October 2, 2018
As per the tweet by Robinhood, the major cryptocurrencies and other digital assets can be traded without commission on them. The addition of Bitcoin, Litecoin, and Ethereum on RobinHood sums up the cryptocurrencies on its platform to sixteen as it has added other cryptos such as monero, Zcash, Dash, Qtum, Stellar, Bitcoin Gold, Lisk, Omisego, Dogecoin, and NEO.
Furthermore, RobinHood has also stated that it is rolling out some kind of news feed for its users. The Feed will help to update its users on current cryptocurrency news and so on. However, the news feed would only be accessible to some users only on its platform.
The trading of cryptos by American citizens have boosted the platform. After the platform announced it would be adding more cryptos with a commission-free feature, the number its users in America increased.
Robinhood has stated this,
“Over the past few weeks, we’ve been overwhelmed by the enthusiasm towards RobinHood Crypto and are excited to contribute to the cryptocurrency community in a meaningful way. Together, we reached four million users and well over $100 billion in transaction volume on our brokerage platform, leading to over $1 billion in commissions saved in equity trades. With the release of RobinHood Crypto, we’re continuing our mission of making the financial system work for everyone, not just the wealthy.”
This is a major stride for RobinHood, but there is no doubt that it will face a stiff rivalry from Coinbase – a popular crypto-exchange. Coinbase on the other hand has increased its investments as news of the procurement of $500 million from TigerGlobal surfaced recently.
RobinHood has been doing very well ever since its launch. But at one time, it was accused of selling users’ information. Meanwhile, RobinHood later responded to the allegations that it is a reputable company, and it would never reveal users’ information for personal gains.
The third largest cryptocurrency, Ripple (XRP) hasn’t been added to the list yet, but the company has stated that more cryptos will be added very soon. On that note, a crypto fan, Rad Gnarlinmouse, stated:
“The app is nothing without #XRP.”
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of JakeWilliamHeckey/Pixabay
Reasons Why 2019 May Be A Great Year For Crypto
The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.
The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.
With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.
1) Bearish market to loosen its grip
The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…
3 Coins with the Largest Potential in 2019
2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.
Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.
Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.
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Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.
The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.
However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.
1) Ethereum (ETH)
Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…
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