Robinhood's Stunning Move Into the World of Crypto
Robinhood just officially announced their zero-commission crypto-currency trading platform!
Beginning this February, Robinhood will allow it's users to buy and sell Bitcoin and Ethereum on their platform without any added cost! This is going to result in Robinhood becoming Coinbase's biggest competitor and will likely permanently change the way the Crypto industry works.
It's not all that crazy though. Coinbase raked in $1 Billion in Revenue in 2017... which oddly enough isn't all that far off from banking institutions that Bitcoiners love to despise. To put it into perspective, JP Morgan brought in $6.6B.... see where I'm going with this?
What was supposed to be a way for people to complete transactions without "the man" has become nothing more than swapping one "evil" for another.
In an interview with Tech Crunch, Robinhood's Co-Founder, Vlad Tenev had this to say,
“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."
With that being said, it looks like the only fees we'll be working with are those associated with the Crypto themselves!
This is great news and definitely something that will disrupt the market in a way that's beneficial for those of us investing in Crypto!
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Great news for crypto adoption overall. Also RIP coinbase, this will be much better for US citizens.
I agree 100%. Robinhood is super easy to use as it is.... if they're able to include all the necessary features for a well rounded trading experience, it'll become the gold standard for Bitcoin/Ethereum trading.