BTC Wires: The Robinhood of the 21st century does not
BTC Wires: The Robinhood of the 21st century does not deal in fiat currency anymore. Cryptocurrency is all the jazz right now. Also instead of the Sherwood Forest, you will find this Robinhood, in the concrete jungle of USA. This Robinhood is a stock trading platform which is completely commission-free and which started way back in 2013.
The news of the hour is that Robinhood will now offer the residents of Georgia an opportunity to trade bitcoin, bitcoin cash, ethereum, litecoin, and dogecoin on the Robinhood app itself. The company’s official tweet read:
Robinhood Crypto is coming to Georgia, and we're feelin' peachy! Trade cryptocurrencies, commission-free. 🍑 pic.twitter.com/8eX57gv8sw
— Robinhood (@RobinhoodApp) August 2, 2018
This the public can do, only if they have that option on their app and it requires no extra changes to settings. The venture has gradually rolled out cryptocurrencies in numerous cities across US. They include Arizona, California, Colorado, Florida, Indiana, Iowa, Massachusetts, Michigan, Mississippi, Missouri, Montana, New Jersey, New Mexico, Pennsylvania, Texas, Utah, Virginia, and Wisconsin.
Although working with such diverse states means that the company has to accommodate the regulations of every state, it is clear that they are going about it the right way since they keep on adding more cities to their name.
At this stage, the app only allows users to sell, buy or hold coins but not send or receive them since the app does not have a built in wallet interface yet. However they surely do have plans to allow customers access to private keys and wallets to enable transfers in the future.
The app currently has over 4 million users, and is well on its way to become one of the largest crypto exchange platforms in the world. Word on the market is that Coinbase better watch its back since Robinhood is charging ahead with full steam.