The stock brokerage application Robinhood has just begun rolling out the new crypto trading platform to its users in 5 states. As of today, every user who has pre-registered for the Robinhood Crypto will start receiving emails as invite for the early access program launched by the app. The so-called ‘crypto trading platform’ will allow investors to trade cryptocurrencies and make profits.
Aside from cryptocurrencies, the platform will also support stocks and exchange-traded funds side by side in it. The official statement by the company says::
“Over the past few weeks, we’ve been overwhelmed by the enthusiasm towards Robinhood Crypto and are excited to contribute to the cryptocurrency community in a meaningful way. With the release of Robinhood Crypto, we’re continuing our mission of making the financial system work for everyone, not just the wealthy.”
The service provided by Robinhood will initially be available only to residents of the following states: Massachusetts, Missouri, New Hampshire, Montana and California. However, the company plans on expanding into other states as they acquire more money transferring licenses which are now granted at state level.
The creation of Robinhood Crypto will certainly encourage a lot of investors to start trading on a variety of cryptocurrencies long-term. In less than a week, Robihnood has achieved 1 million pre-registrations and the company said that they already have more than 4 million users with $100 billion in transaction volume.
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