The no-cost trading app Robinhood is about to enter the Bitcoin and Ethereum markets a recent blog post has revealed.
On Tuesday, January 25th, Robinhood announced in a blog post titled, Don’t Sleep, that “cryptocurrencies are coming to the Robinhood platform.” In the announcement, Robinhood highlighted how investors will be able to trade cryptocurrencies commission-free alongside stocks, ETFs, and options. This amalgamation of financial products will be possible thanks to the also announced Robinhood Crypto platform which is currently in Early Access.
On the newly announced Robinhood Crypto platform, investors will be able to trade all the above mentioned products, check crypto news, and track different coins. As of the time of writing, investors on the platform have access to a watchlist of 16 cryptocurrencies which include Bitcoin, Ethereum, XRP, and other ‘hot’ coins.
When trading on Robinhood Crypto goes live in February, investors will be limited to Bitcoin (BTC) and Ethereum (ETH), with more coins being made available at a later date. Trading access will roll out in gradual waves to Robinhood residents in California, Massachusetts, Missouri, Montana, and New Hampshire. The company states that Robinhood Crypto will be available in more states “soon”.