On October 21 2017, Robinhood announced in a press release that their Crypto Trading app is now being released.
The release can be seen here:
Robinhood made an announcement that they would be expanding their platform to include select cryptocurrencies a few weeks back.
This is an example of what Robinhood crypto traders are seeing currently:
A couple quotes from the release can be seen here:
“Check your inbox, because the first set of Robinhood customers can buy and sell Bitcoin and Ethereum with Robinhood Crypto, starting today. All your investments, commission-free, on one platform”
And then this one:
“We are gradually rolling out access to Robinhood customers residing in California, Massachusetts, Missouri, Montana, and New Hampshire, and look forward to releasing crypto trading functionality in many more states later. In the meantime, all investors on Robinhood can monitor and track market data for 16 cryptocurrencies.”
A place to communicate for traders:
“With today’s trading launch, we’re also announcing Robinhood Feed – a brand new way to discuss cryptocurrencies, news, and market swings, in real-time with other investors on Robinhood. Feed is available to a limited number of people on the platform and will evolve based on your, well, feedback.”
Some of the key points:
- As discussed above, bitcoin and ethereum are the only coins available to trade right now, but others will be added shortly.
- The plan is launch crypto trading in 5 states and then gradually expand to other states if things go well.
- There is also going to be a place to discuss trading with other crypto traders on the app called “Feed”.
- By the way, did I mention that Robinhood is doing all of this while offering commission-less trades?
- There will be fee-free trading available on this app!