Hey everyone! I'm so excited about this news that I had to share it with all of you! Coinbase is finally getting some much-needed competition when it comes to trading cryptocurrencies, especially in the United States.
I haven't particularly had any major issues with Coinbase before, but the fees and wait times are preposterous. This is crypto and the mission of crypto is not to be slow and have big fees, that's the mission of big finance.
I'm really excited about Robinhood entering the crypto space because their mission aligns directly with crypto and firmly against big finance - they want to put the power back into the hands of the people and they want to do it efficiently and with scale. Robinhood already offers fee-less stock market trading, which is revolutionary in-and-of-itself. I actually use Robinhood for some of my stock market holdings.
Robinhood's addition of crypto trading will bring a TON of new money to the crypto market! It's also going to provide Coinbase customers (like myself) with an amazing alternative platform for trading. With Robinhood, I'll be able to buy fiat to crypto without waiting 7 days and making Coinbase rich with a 1.5-4% fee.
If you haven't yet used Robinhood, I highly recommend checking it out for the stock market as well as the upcoming release of crypto trading in February. You can sign up for Robinhood by clicking here. (Full Disclaimer, this is my referral link 😊 and we both get a free stock if you sign up)
Here's a non-referral link: https://signup.robinhood.com/
A Few Details About Robinhood Crypto:
- Instantly transfer up to $1000 from your bank account (or more if you have a gold membership)
- When Robinhood Crypto is first released (in February), Ethereum and Bitcoin will be the only tradable cryptos
- Robinhood already added tracking capabilities for the following cryptos: Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple, Ethereum Classic, Zcash, Monero, Dash, Stellar, Qtum, Bitcoin Gold, OmiseGo, NEO, Lisk, and Dogecoin
- Robinhood will only be available in the following states in February (though more will be added soon): California, Massachusetts, Missouri, Montana, and New Hampshire
Here's the Question of The Day, don't forget to post your answers in the comments!
QOTD: What excites you most about Robinhood's entry into the crypto space?
Thanks for reading! Don't forget to leave your thoughts below and I look forward to seeing you in the comments!
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