Robinhood launches in Colorado with zero fee on crypto trade
Cryptocurrency trading platform, Robinhood, has been in the news ever since it announced about its launch. What made it all the more popular is that fact that they don’t charge any transaction fee from their users for crypto trade. Now, it has been launched in Colorado as well.
The United States has become a major hub for cryptocurrencies. This explains why there is a serious competition between cryptocurrency trading platforms in the country. Zero-commission platform, Robinhood, has announced on Twitter that it would be expanding its base to Colorado.
Robinhood Crypto is coming to a Rocky Mountain near you! Commission-free Bitcoin (BTC) and Ethereum (ETH) trading is now rolled out and available to investors in Colorado. pic.twitter.com/nGfZKrcvj4
— Robinhood (@RobinhoodApp) April 20, 2018
However, in the western state, zero commission transactions is available only for Bitcoin and Ethereum. It is also said to support stocks, ETFs and other assets. With this, Colorado joins the list of other US states, such as California, Massachusetts, Missouri and Montana, where Robinhood is supported.
Several retweets have been made in response to Robinhood’s tweet, asking the exchange to expand to other states as well. Some have even asked it to include Litecoin in the exchange, with zero transaction fees.
Robinhood says “you can move up the list by inviting friends to join” the exchange. But some Twitter followers in the states where Robinhood Crypto has been rolled out say they have yet to gain access to the trading platform and are stuck on a “waiting list.”
Only Bitcoin and Ethereum?
Robinhood hasn’t indicated whether it will support more altcoins beyond bitcoin and Ethereum. It does offer market data for a number of altcoins, however. The exchange, which is popular among millennials, is estimated to be worth as much as $5.6 billion on the heels of its latest funding round with DST Global compared to about $1 billion in 2017 and reportedly surpassing the valuation of its US rival Coinbase.
While Robinhood offers zero-fee cryptocurrency trading, it also offers a premium account dubbed Robinhood Gold that has a monthly flat rate attached and higher deposit limits.
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