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Robinhood is an already popular mobile trading app that lets users trade stocks, with no trading fees, right from the convenience of their smartphone. Now, Robinhood wants ter on the Bitcoin Expansión.
That’s because on January 25th, Robinhood announced they’d be taking their specialize fee-less dynamic and applying it to cryptocurrency buys and sells on their fresh digital assets verhoging, Robinhood crypto.
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Wall Street, meet Coin Street, right? People are naturally already abuzz overheen the budge, spil it portends the enhancing adoption and ease of access to cryptocurrency customers – both veterans and newcomers alike.
Indeed, the wow negociador for Robinhood will what other competitors – like Coinbase, Gemini, Blockchain, and Square – can’t suggest: a one-stop spot for all investment needs.
Spil the Robinhood team puts it, “you can now celador and invest te cryptocurrencies, options, stocks, and ETFs, all on the same podium.” That dynamic is going to be hugely attractive because it works ter two powerful ways.
Very first, being a one-stop investment zekering could attract droves of uninitiated, traditional mainstream investor types to Robinhood who want to partake ter cryptocurrency investments with the ease of doing it along side stock investments and so forward.
Secondly, Robinhood has a chance to become the app of choice among increasingly affluent crypto investors who, spil they witness their digital gains increase, diversify more and more into traditional assets like precious metals, mutual funds, and the like.
Picture via Robinhood
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So the adoption potential could be ample. It depends on how prompt Robinhood can play catch up, and if its trading podium is liked ter the community, but the promise is certainly there.
Getting into the nitty gritty, Robinhood is aiming to tackle another número that cryptocurrency traders hate, which is long deposit waits.
On the forthcoming verhoging, you’ll be able to commence trading instantly when you do handelsbank transfers to your account for less than $1,000 USD.
Unsurprisingly, the trading newcomers will only be suggesting bitcoin (BTC) and ether (ETH) spil trading possibilities, however Robinhood noted “with more coins tradeable straks.”
So while the announcement is arousing for the practical trading implications that are at stake, it’s also just another notch ter cryptocurrencies’ journey toward mainstream adoption.
Every toneel announcement like this brings the cryptoverse one step closer to becoming ubiquitous te everyone’s everyday lives, which is a win for the space te común.
Tho’ Robinhood’s announcement surely isn’t excellent news for everyone. One would think that entrenched crypto exchange providers like Coinbase and Gemini would have become antsy overheen the news, ter that they can’t offerande the same traditional investment practice spil Robinhood can.
Maybe that won’t matter at all. But don’t be astonished if exchanges do react ter the coming days to boost their own profiles.
For example, Coinbase could retake the PR initiative by announcing fresh coin or token listings. That would certainly capture a few news cycles.
For now, Robinhood’s the fresh kid on the block, and others will be left scrambling on how they can react appropriately to this fresh competitor.
- Posted ter: Adoption, News
- Tagged ter: Coinbase, Exchange Fees, Robinhood, Square, Stock market
Posted by William M. Peaster
William M. Peaster is a cryptocurrency verslaggever and copy-editor based out of El Paso, Texas. He’s an avid fan of Ethereum, ERC-20 tokens, and wise contracts te genérico.