Robinhood Crypto Exchange Service Adds Rhode Island for BTC, ETH and LTC No-Fee Trading
Robinhood Crypto Exchange Services Launch Commission Free Bitcoin, Ethereum & Litecoin Trading in Rhode Island
The Financial Services arena in the U.S has grown significantly with the recognition of digital assets over time. Exchange platform like the popular Robinhood are scaling their services to other areas outside California while including cryptocurrencies in their portfolio. A few days ago, the Robinhood exchange launched its crypto trading platform in Rhode Island. Furthermore, the exchange has built commission free ecosystem for crypto traders dealing with major altcoins like Ethereum (ETH) & Bitcoin (BTC). According to a tweet from Robinhood;
Robinhood Crypto has anchored in Rhode Island. Trade Bitcoin, Litecoin, Ethereum, and other cryptocurrencies commission free. pic.twitter.com/G9WkGcYgmU
— Robinhood (@RobinhoodApp) October 2, 2018
Baiju Bhat, current CEO at Robinhood, highlighted the company’s progress and plans during the TechCrunch Disrupt at the beginning of this month. The CEO said that Robinhood is currently planning an Initial Public Offering to facilitate its transformation to a public company. In addition, the firm is sourcing for a Chief Financial Officer to oversee the Robinhood books as they undergo an external audit by the SEC & FINRA.
Robinhood provides a wide range of financial products apart from crypto coins; traders can transact ETFs & stocks as well. The platform has shown a strong positive growth ranking well amongst peer startups located in Silicon Valley.
At the moment, Robinhood’s main competitors are the likes of Coinbase crypto exchange. The platform has been on the rise gaining attention from a good number of cryptocurrency investors & projects. Earlier in the week, Robinhood news sources revealed that Tiger Global was setting aside $500 million to invest in the Coinbase project. In total, Coinbase managed to acquire $539 million with major investors like Google’s Capital G, Sequoia & Kleiner Perkins topping up.
Robinhood has also experienced its own challenges within the crypto sphere as one would expect. Allegations that the exchange has sold its users data had been raised causing a controversy for the firm. However, they clarified this claiming that the Robinhood exchange service is policy-compliant & would never put client’s data up for sale.
The exchange services by this platform are in a couple states within the U.S as of press date. They include; Wisconsin, Virginia, Texas, Rhode Island, Pennsylvania, Oklahoma, New Mexico, New Jersey, Montana, Missouri, Michigan, Massachusetts, Indiana, Georgia & Florida. Sentiments from crypto enthusiasts show that Robinhood is very likely to get a larger client base once they add the hot XRP tokens to their exchange!