by cryptocurrency traders might diversify into equity trading later. (See also: Coinbase Revenue Topped 1 Billion: Recode.) The exchange also reported adding 100,000 new users over the Thanksgiving weekend and is said to have generated 1 billion in profits in 2017. Robinhood has finally launched today its highly anticipated crypto trading for bitcoin and ethereum, allowing its now 4 million investors to trade cryptocurrencies alongside stocks, ETFs, and options on the same platform. But Robinhoods foray into cryptocurrencies is motivated by customer acquisition rather than profits. Trading in cryptocurrencies has exploded since the beginning of 2017. Cobinhood, a competing crypto trading app that cribbed its name and raised 10 million in an ICO.
Robinhood - Invest for Free Introducing Free Options Robinhood adds zero-fee cryptocurrency trading and tracking TechCrunch
Initial trading volumes on Robinhoods platforms are not expected to be large, since it is being rolled out in five states only. Launched in 2015, Robinhood is a popular investment app that lets you invest in conventional securities like stocks or ETFs. You can buy securities immediately after buying bitcoin, for example, then track everything from one place. Just a day back, Robinhood announced a new platform where you can invest in cryptocurrencies. But he changed his tune three months later. Equity markets via smartphones, and more recently, web browsers. Robinhood Crypto is launching as a Robinhood Markets Inc. This crypto trading will be added to the Robinhoods platform in February 2018. A recent study showed that if given 5,000, 12 of Millennials would put the money into cryptocurrency over any other type of investment, according to Swell Investing. There are several senior world-class people that weve hired recently that are building the system in-house says Tenev. For smaller traders, that could eliminate the annoying delays on other platforms that can make you miss a low price you want to buy.
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