THELOGICALINDIAN - Trading app Robinhood which started alms bitcoin and ether trading in February has accomplished a appraisal of 56 billion afterwards adopting 363 actor the aggregation has accepted The app is now accessible in 10 US states
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
$5.6 Billion Valuation
Robinhood started out about three years ago as a simple banal trading smartphone app with no transaction fees. The aggregation is now admired at $5.6 billion afterward a new costs annular appear on Thursday. Robinhood accepted that it has aloft “$363 actor to aggrandize [its] product lineup.”
“Our belvedere has additionally developed significantly, extensive over four actor users, cementing Robinhood Financial as the fastest-growing allowance ever,” the aggregation wrote, adding:
Robinhood appear the affiliation of bitcoin (BTC) and ether (ETH) in January, with absolute trading alpha on February 22. A few canicule afterwards the antecedent announcement, over a actor bodies had already active up to get admission to barter cryptocurrencies.
Crypto Helps Growth
According to its website, “Bitcoin and ethereum trading is now accessible in California, Colorado, Florida, Massachusetts, Michigan, Mississippi, Missouri, Montana, New Mexico, and Wisconsin” through Robinhood Crypto.
The app caters to “the ‘millennial’ population, almost ages 18 to 35. The demographic is generally advised a claiming for acceptable banking institutions to reach, and Robinhood is aggravating to allure the accumulation by alms commission-free trading through an app,” CNBC described. “The aggregation generates acquirement by demography a tiny atom of a cent per dollar from anniversary barter adjustment as able-bodied as accession absorption on chump deposits.”
Most of the cryptocurrencies captivated by Robinhood are kept in algid storage, the advertisement conveyed, abacus that
Besides crypto trading and bazaar abstracts casework for BTC and ETH, Robinhood Crypto additionally supports real-time bazaar abstracts for “bitcoin banknote (BCH), bitcoin gold (BTG), birr (DASH), dogecoin (DOGE), ethereum archetypal (ETC), lisk (LSK), litecoin (LTC), monero (XMR), NEO (NEO), omisego (OMG), qtum (QTUM), ripple (XRP), arch (XLM), [and] zcash (ZEC).”
“We additionally plan to abutment the adeptness to buy and advertise added cryptocurrencies through Robinhood Crypto,” the aggregation emphasized, clarifying that “supporting bazaar abstracts for alone cryptocurrencies does not necessarily beggarly we plan to add affairs and selling.”
What do you anticipate of the Robinhood app and its valuation? Let us apperceive in the comments area below.
Images address of Shutterstock and Robinhood.
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