Robinhood Crypto Trading App Adds to Rhode Island, Tennessee and Arkansas
Robinhood Cryptocurrency Platform Expands to Rhode Island, Tennessee and Arkansas
The popular cryptocurrency trading application Robinhood is now available in three more US states, Rhode Island, Tennessee and Arkansas. In this way, there are 24 states already allowing its citizens to make zero-commission trades in the most important virtual currencies in the market.
The platform also offers free trading of stocks, options, exchange-traded funds (ETFs) and cryptocurrencies. With the intention to reach more customers all over the United States, the platform has been working in order to expand to three more states in the country.
The cryptocurrency trading platform was launched at the beginning of the year and allowed users to trade virtual currencies without having to pay for fees. This was a very important announcement since other companies and platforms such as Coinbase take several fees for trading activities. For example, it uses the funds that users have in their accounts and sells customers’ order to exchanges that are searching for liquidity.
Robinhood is able to generate revenue by selling premium accounts with leverage and other features. At the moment, the application is available in the following states: Arizona, California, Colorado, Florida, Georgia, Indiana, Iowa, Massachusetts, Michigan, Mississippi, Missouri, Montana, New Jersey, New Mexico, Pennsylvania, Texas, Utah, Virginia, and Wisconsin.
The application currently supports different virtual currencies such as Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Dogecoin (DOGE) and Ethereum Classic (ETC).
After receiving critics about the way it generates revenue, the company explains that as a licensed brokerage it has to execute customer orders at the best available price across every regional and national stock exchange
Robinhood is one of the most famous applications among younger generations. It is very easy to use and allows individuals to have an easy access to the financial and virtual currency world.