Exchanges

Robinhood adds two more digital coins to its no-fee trading App

Today, Thursday 12th, Robinhood announced that it has added two more digital coins to its no-fee trading app. The two coins, Litecoin and Bitcoin Cash, will be joining their mates, Bitcoin and Ethereum, bringing the total number of coins fully supported by the app to four.

The additions, as indicated by Robinhood, comes after a strong demand from their clients. This comes at a time when the no-fee trading app is marking the welcoming of its 5 millionth customer. Robinhood is valued at 5.6 billion US dollars as of May this year.

The No-fee trading app is available in seventeen US States with Robinhood promising more coverage or even availability in all US states by the end of the year.

Recently, reports emerged that Robinhood is considering taking a step towards providing banking services which, if provided, will cast a different light on the traditional banking sector by introducing a more technology-focused player.

Robinhood has been previously dealing with stocks trading but in February of this year, they added a cryptocurrency page on the stock trading app where users can only buy and sell virtual currencies. The main aim for having a crypto trading platform which does not charge trading fees, according to Robinhood, is to help more people have access to cryptocurrencies.

There have been unconfirmed reports that Robinhood is developing a cryptocurrency wallet which will, in turn, enable Robinhood’s crypto platform users to deposit and transfers their virtual currencies.

Although the app is not in all states, those in states that do not allow the active trading of the coins on the platform will still be able to monitor 16 digital currencies using the Robinhood no-fee crypto trading platform.

With Robinhood adding two more digital coins to its no-fee trading App, do you think it will boost the number of users on the platform?

Leave a comment below and join the conversion.

coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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