THELOGICALINDIAN - Robinhood a feeless banking casework startup afresh opened up chargeless cryptocurrency trading for US barter Many users criticized Robinhood Crypto for its bound cryptocurrencyrelated casework But a contempo job alms which went disregarded by best shows that the aggregation affairs to aggrandize its captivation in the cryptocurrency amplitude asBusiness Insider reports
Robinhood Advertises Job For Cryptocurrency Wallet Developer
Robinhood was founded on the ambition that advance in the banking industry should be accessible for as abounding users as possible, with its fee-less anatomy actuality basic to the ability of this goal.
Robinhood’s cryptocurrency operation opened in January amidst the cryptocurrency bazaar hitting best highs, at a aggregate appraisal of over $800 billion. The cryptocurrency association jumped on the befalling for fee-less cryptocurrency trading, with abounding accepting aerial expectations for the service.
Although the sign-up account for the Robinhood Crypto bound accomplished over one actor users, some were quick to alarm out the bound functionality the account offered. Specifically, the abridgement of abutment for the drop and withdrawals of cryptocurrencies assimilate the banking service.
In its accepted state, the account alone allows for cryptocurrency trading, about authoritative it a belvedere directed appear amount speculation. A adumbrative of this growing startup accustomed these criticisms, stating:
“People are consistently allurement for the adeptness to alteration their tokens into Robinhood”
However, a contempo job opening at Robinhood indicates that the fintech aggregation is accommodating to action a cryptocurrency wallet in the future, allurement for “Crypto Engineers” for the development of “new functionality for our crypto product, such as abacus new currencies or accouterment wallet functionality.” The accession of a cryptocurrency wallet to the calendar of casework offered will acquiesce users to alteration cryptocurrencies from Robinhood to their claimed wallets.
Is RobinHood A Viable Coinbase Competitor?
Analysts of the cryptocurrency industry say that accepted cryptocurrency basement company, Coinbase, should be aflutter of what Robinhood can accompany to the table. Experts brainstorm that chargeless trading put duke in duke with a cryptocurrency wallet, will acquiesce for the growing cryptocurrency account to beat a acclimatized bazaar actor like Coinbase.
According to abstracts acquired by Mashable, the SEC has accustomed countless complaints about the Coinbase service. Users attributed abounding of these issues to the ‘growing pains’ the barter has experienced. However, these complaints may aloof be one of the abounding affidavit why Coinbase consumers may drift to new exchanges, with consumers additionally criticizing the aerial fees on the platform. As Robinhood develops its platform, abounding apprehend for the accumulation clearing of cryptocurrency users to this chargeless and easy-to-use cryptocurrency trading option.
CEO of the growing fintech startup, Vlad Tenev, afresh took an account with Cheddar, stating:
“Whenever you anticipate of what’s activity to accord you the best amount for banking services, for annihilation you need, we appetite bodies to anticipate of Robinhood eventually.”
Tenev additionally added that he already sees this happening, through the operation of the company’s cryptocurrency, stock, and options services. Competition has become an basal aspect of all advantageous markets, with acceptable antagonism bearing optimal bazaar altitude for companies involved.
In conclusion, Coinbase may activate to feel ascent burden on its aegis as a top cryptocurrency company. Michael Dunworth, the architect of cryptocurrency company, Wyre, mentioned that antagonism will be “a appealing cogent blackmail for their (Coinbase) amount aliment and butter.”
