🏹 Robinhood Now More Available - Including My State!
It seems like just a few short weeks ago I was talking about Robinhood A fee FREE trading app for stocks that was introducting a fee free way to buy bitcoin!
You can view my older post here - https://steemit.com/crypto/@bitcoinflood/robinhood-now-lets-you-buy-bitcoin-ethereum-and-soon-others-for-free
Robinhood is expanding and more and more states are being accepted into being able to buy bitcoin with ZERO Fees! They are directly competing vs Coinbase and so far so good as it all looks promising.
Robbinhood also gives new signs ups a FREE stock up to a $100 value after they deposit $100 or more into their account. However you MUST join via an affiliate link in order to claim it. If you join without it you forfit the free stock.
Click Here To Join Robbinhood via my affiliate link and claim your free stock
The big news as Robbinhood starts to expand into cryptocurrency is they will soon be offering the ability to buy other cryptos WITHOUT ANY FEES. To put this into perspective I paid about $100 in fees at coinbase last time I bough some Ethereum.
The other cryptos that Robbinhood is looking to support besides bitcoin are
Ethereum, Ripple and Zcash that we know of so far but the projected total coins to support in the next round is 16.
Robbinhood is honestly placing itself as being able to crush coinbase in terms of fees and expanding fast enough to keep up with this high paced cryptovers.
I haven't looked in to it... But what is their business model if they don't charge trading fees? They need make a living one way or another, so what's the catch?
With all accounts you always have a small cash balance of a few dollars either from dividends or sells etc. They take that money and keep the interest on it is how they fuel their business.
Additionally they also make revenue by charging customers for an optional premium offering - Robinhood Gold. With Robinhood Gold you get perks like instant availability of funds, after hours trading, and margin.
Ah yes this is true forgot about that thank you!
very cool
This will bring in so many new investors! Super excited!
This is a game changer for Robinhood and for crypto traders like me. Coinbase takes up a huge chunk of money as trading fees. Which defeats the purpose of decentralization and why cryptocurrencies were made in the first place. Thanks @bitcoinflood for this wonderful piece of information. Cheers!
Coinbase has a very easy interface and a solid reputation, even among institutional investors. I still like their platform, but can't deny the appeal of trading without fees. Lets hope they can scale and provide top notch security (which makes me wonder how much they can invest in developing security for their platform without fees).
Robinhood Now More Available - Including My State!
This is really a robinhood indeed. The idea of being able to trade freely will bring about more usage to the platform. Cant wait to have it here
So one can trade for free?? This is really a robinhood indeed. The idea of being able to trade freely will bring about more usage to the platform. Cant wait to have it here
Yup zero fees on their trades so you would not be paying the coinbase fee anymore when you buy crypto saves you a good amount of money.
Thanks for the link and your continued support for the robbin hood app. This is literally going to simplify a lot of efforts directed towards cryptocurrency i.e bitcoin, ripple, ethereum, and the rest. And zero fees, this is totally a winner. This is the future!!
I have been following this Robbinhood story for awhile. Do you know if they are accepting from the state of Florida yet?
Yup Florida was just accepted! This is where I live just west of Orando!
I will be changing from Coinbase. I assume you can transfer from Robbinhood to Poloniex so I can but Alt coins? BTW. Love Orlando area
Actually I don't believe that is the case. I'm happy to be wrong but I'm pretty sure you won't have the same ownership of the coin to where you could transfer it off the platform like you can with Coinbase.
so, its only a platform to buy a couple of different coins ?
Yes, currently only Bitcoin and Ethereum (although they provide real time pricing for several altcoins). I just tested it out, once you buy some crypto on the platform your only options are to either buy more or sell. No option to transfer the coin off the platform, although that could change in the future.
thanks for the info
This is reminding me of the late 90s when online brokerages started coming into the market to challenge the huge wall street brokerages who were charging a percentage of trades as commissions when buying stocks. These online brokers started putting fixed dollar amount which in most cases were much lower. A price ensued and most retail investors benefited as costs got lower and services offered improved. We may see the same in these cryptocurrency exchanges soon.
This sounds like its going yo be a hit. I should also get hold of it before the offer it out. Thanks for sharing, its always good to stick around people like you