Great news! Robinhood’s commission- free crypto exchange has expanded in other four US states. Starting 2nd April 2018, anyone can buy and trade Bitcoin and Ethereum at a zero charge in these locations.
Robinhood has expanded its service
The Robinhood free stock trading platform has announced about the successful completion of the project dedicated to expansion of the commission-free service in other four US states. These are California, Massachusetts, Missouri, and Montana. The announcement was made via Twitter giant on 2nd April 2018 by @RobinhoodApp.
If we would take into account the comments on Twitter’s social media platform, we could say that some users were confused about the Robinhood Crypto release, while those who did not have access expressed their dissatisfaction online.
Being present in multiple states, Robinhood Crypto will become a powerful competitor for numerous stock exchanges. The commissions in USA practiced in the crypto exchanges range between 1.5% and 4%.
Even if Robinhood does not accumulate revenue from fees, this does not mean that the platform isn’t a competitive one. It focuses in particular on interest collected from users’ accounts, but also from the Robinhood Gold subscription option, for which users have to pay a commission.
Even if many users enjoy the services offered by this platform in the transaction of crypto assets, we want to remind you that the company enjoys an impressive number of users that benefit from the capital market investment service.
The company’s purpose is to allow as many people as possible to benefit from the services provided by Robinhood, and “not just the wealthy” ones.
Will Robinhood add new altcoins?
Users have been curious about the moment when commission free trading service will be available in other states like Florida, but also if the company will add other altcoins. It’s amazing that Robinhood has accumulated more than 1 million investors in just a week and another 1 million users have been listed on the waiting list.
The company has confirmed that will “release crypto trading functionality in many more states later“, but also will add other altcoins as soon as possible.
Even if the company limits its users only to BTC and ETH trading, they benefit from other services, such as free access to relevant information about important altcoins’ market data.