Robinhood goes live with its zero fee crypto trading app

Posted: 23 February 2018 2:20 pm
News

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.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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Picture: Shutterstock

Disclosure: At the time of writing the author holds ETH, IOTA, ICX, VEN, XLM, NANO, SALT, BTC

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