Alternative to coinbase: trade cryptos for free?
That is exactly what this app wants to make possible for its users. The app should enable for users to trade any supported cryptocurrency without having to pay fees (coinbase fees: 1.5 - 4%). You can link it to your bank account and do a 1000 $ deposit instantly. The exchange is open 24/7, allows you to monitor and track currencies as well as set buy and sell limits so it will automatically buy or sell coins for you, once the specific currency hits that preset price.
We're planning to operate this business on a break-even basis and we don't plan to profit from it for the foreseeable future
Co Founder Vlad Tenev
In order to solve the issue around the current volatility of the cryptos, the app creates an estimated price for a certain coin. Once someone enters a buy or sell order, robinhood scans various trading platforms in order to find the cheapest current price. In case there is no price in the margin, the order will simply stay pendant.
Coins that can be traded now:
Bitcoin, Ethereum
To be added soon:
Bitcoin Cash, Litecoin, Ripple, Ethereum Classic, Zcash, Monero, Dash, Stellar, Qtum, Bitcoin Gold, OmiseGo, NEO, Lisk and Dogecoin.
This exchange unfortunately (I'm swiss) is currently only available for U.S customers of certain states. various states are added in february ( California, Massachusetts, Missouri, Montana and New Hampshire) and more thereafter.