Trading Platform Robinhood Announces Cryptocurrency Support

By Will Arthur | UNITED STATES

On January 25, 2018, the trading platform Robinhood announced that in the near future they will offer trading platforms for cryptocurrency (as of now bitcoin and ethereum are the reported currencies that will be available), ETFs, and options on stocks. Along with their current services of stock trading. Making them one of the only platforms that should seamlessly allow traders to engage in all of these separate areas.

The diverse platform is not the only thing that will attract new customers because Robinhood also boasts in the fact that they do not charge customers at all for their basic services in trading. Making their profits from Robinhood Gold (an upgraded service of Robinhood that costs the user a flat rate of six dollars a month) and by collecting interest off of assets in users accounts.

Do not get too far ahead of yourself if you are interested in this new crypto platform though because access to the platform will not officially open until (expected) later this month (February) and the line for early access is quite lengthy (reported over 1,000,000 hopeful users waiting). No need to worry, however, if you are a current stock trader looking to get your feet wet in the crypto world because there are plenty of easy to use and time-tested crypto trading platforms on the web such as coinbase and GDAX: GDAX also offering ways to get around fees like Robinhood.

Image from Stocks Traders.