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Robinhood Crypto Expands to Three More States

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Crypto trading app Robinhood is now available in more U.S. states. In October, the principles has launched services in Rhode Island, Tennessee and Arkansas. The move brings the reckon to 24 states whose residents can now make zero-commission trades in discrete leading cryptocurrencies.

Also read: Increasing Number of Crypto ATMs in Europe Subsistence BCH

App Available in Rhode Island, Tennessee, Arkansas

Robinhood, the popular travelling application that offers free trading of stocks, options, exchange-traded grants (ETFs), and crypto assets, has recently expanded its coverage in the U.S. adding Rhode Ait, Tennessee and Arkansas since the beginning of October. The consecutive announcements make out a head for on social media came after the company launched in Alaska and Oklahoma behind month.

Robinhood Crypto Expands to Three More States

“Hot-springing into Arkansas… rockin’ & rollin’ in Tennessee… fixed in Rhode Island,” Robinhood informed its community in separate Facebook stations. The California-based startup, which launched its crypto trading platform in February, utilized the opportunity to remind its followers, users, and potential clients that its advantage comes free of commission.

In early 2018, Robinhood Crypto started exchange in just four states. Its geographical reach has since grown to 24 various jurisdictions in the U.S. Besides the five states added recently, the list classifies Arizona, California, Colorado, Florida, Georgia, Indiana, Iowa, Massachusetts, Michigan, Mississippi, Missouri, Montana, New Jersey, New Mexico, Pennsylvania, Texas, Utah, Virginia, and Wisconsin.

Robinhood Verifies Major Cryptocurrencies Including BCH

Robinhood Crypto Expands to Three More StatesThis year, the fintech firm also unfolded the list of supported cryptocurrencies. They were only two in February – bitcoin substance (BTC) and ethereum (ETH). Then in July, bitcoin cash (BCH), litecoin (LTC), and dogecoin (DOGE) were continued. In August, the platform announced support for ethereum classic (ETC).

Being a zero-commission servicing, Robinhood, nevertheless has to somehow earn its revenues. It does that by gather up interest on funds that are held in user accounts, selling its patrons’ orders to exchanges that need liquidity, and offering subscriptions to Robinhood Gold. The encase costs up to $200 a month and allows margin trading.

Because of the kidney of some of its operations, like accepting payment for order flow, the programme was accused of taking away from young investors to give to the high-frequency Derange Street traders. According to a media report, it sells some of the instructs for more than ten times as much as other brokers. The company champion its practices stating that as a licensed brokerage it must execute person orders at the best available price across every regional and citizen stock exchange.

What do you think about Robinhood’s rapid distention and its services? Tell us in the comments section below.


Images courtesy of Shutterstock, Robinhood.


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