Robinhood - What is it? And should you use it? Will it impact other exchanges?

Robinhood is an investment app that allows used to trade stock without fees. What is the catch you say? There really isn't one, Robinhood makes money of earning interests on the balances of uninvested dollars sitting in accounts, and on charging fees for margin trading. It's a great tool for casual investors, but more importantly they announced that they will start supporting crypto in February.

At first this will be limited to a few states (California, Massachusetts, Missouri, Montana, and New Hampshire) but they plan to quickly expand to others. They will also only support BTC and ETH at lunch but already have plans to expand to 16 coins! That means trading with no fees for most of the major alt coins, and of there 3 million users, 1 million have already signed up for early access to crypto trading, I think this could be enough to shift the balance away from some of the more traditional exchanges, and will overall be good for crypto as a whole. The biggest impact will be a decrease in value of coins tied to traditional exchanges, so if you bought them with plans to HODL them, you might want to keep a close eye on accounts shifting.

•Bitcoin (BTC)
•Ethereum (ETH)
•Bitcoin Cash (BCH)
•Bitcoin Gold (BTG)
•Dash (DASH)
•Dogecoin (DOGE)
•Ethereum Classic (ETC)
•Lisk (LSK)
•Litecoin (LTC)
•Monero (XMR)
•NEO (NEO)
•OmiseGO (OMG)
•Qtum (QTUM)
•Ripple (XRP)
•Stellar (XLM)
•Zcash (ZEC)

As of yesterday more than 1 million people have signed up for early access to Robinhood's new crypto trading service.
https://www.cnbc.com/2018/01/29/more-than-1-million-people-sign-up-for-early-access-to-robinhoods-new-crypto-trading-service.html