Robinhood goes live with its zero fee crypto trading app
The retrofuturistic trading platform and cryptocurrency might make a good match.
Robinhood is now letting users trade cryptocurrencies on the zero commission trading app. The functionality is gradually rolling out access to Robinhood customers in several states of the USA, with a test batch of 4 million pre-registrations. Initially, users will only be able to trade bitcoin and Ethereum but the offers are expected to expand in the future.
Australians are so far out of luck but all Robinhood users will be able to use the app to track prices and news about 16 coins, including bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple, Ethereum Classic, Zcash, Monero, Dash, Stellar, Qtum, Bitcoin Gold, OmiseGo, NEO, Lisk and Dogecoin.
At the same time as this launch, the platform is also introducing Robinhood Feed, a way for users to discuss cryptocurrencies with each other in real time.
It's being positioned as a strong competitor to Coinbase, much like the off-brand-sounding Thai-based exchange COBINHOOD. The oversubscribed 4 million strong initial applicant pool suggests that it might be able to overtake Coinbase's approximately 13 million strong userbase.
But the most important benefit might be the ability to check digital currency prices on a retro-futuristic style user interface. If you really want to feel like you've stepped into the future, you could even use it on your watch.
The accompanying Robinhood YouTube ad is retro-futuristic in its own way, with a fairly literal take on going to the moon.
Disclosure: At the time of writing the author holds ETH, IOTA, ICX, VEN, XLM, NANO, SALT, BTC