Zero-Fees for Cryptocurrency trading has become reality now!
Famous stock trading app Robinhood is going to facilitate its customers ZERO FEE for its cryptocurrency trading. Company goal is to grow their new customers and provide best services to existing customers.
This exciting venture will start from February and users will be able to buy and sell cryptocurrencies without any transaction fee. Currently there are total 16 cryptocurrencies listed in the app.
One of the largest cryptocurrency platform, Coinbase is charging 1.5 – 4% transaction fee. Part of this fee goes to miners who maintain blockchain. So how Robinhood will bear this miner fee for free?
“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,” Robinhood co-founder Vlad Tenev told. “The value of Robinhood Crypto is in growing our customer base and better serving our existing customers.”
Zero fee will prove a complete game changer for the cryptocurrency traders who trade in large sums and removal of transaction fee could boost more potential investors to jump into this exciting market.
With increasing popularity of cryptocurrency trading, more and more platform are introducing attractive offers for users. Recently upcoin had introduced $5oo sign-up bonus which would be used to cover the trading fees.
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Wow, this project is sounding ambitious and also reflecting as beneficial for the users. Thanks for sharing this informative post.
Have a great day and stay blessed.
Excellent idea..... nice project information.. .thank you@munawar1235
This is fantastic news @munawar1235! I actually signed up for Robinhood 2 weeks ago for stocks and when you sign up they give you a free stock. I got Sirius (SIRI). Only worth about $5, but still cool nonetheless! I wonder if they'll do any type of similar promotion for Crypto!
...They seem like a very progressive company with the user in mind first and making efforts to grow!
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So Robinhood is looking at a one time fee? Thanks for your post as I've been following them and wondering how they would be paid for their time and effort.
Thanks @steem-samian. Lets see how it goes!
This doesn’t really make sense.
If they are giving stock (like one of your commenters shared) and they re doing things for free - how long can it last?
There has to be a way for them to maintain themselves.
Sounds a little odd to me, especially since they are naming themselves after thieves.
hopes they are legit and have a long term sustainability plan because the offer sounds great