Mechanical app stock trading provider Robinhood has formally launched cryptocurrency profession, rolling the new service out to five U.S. states today.
The company says that householders of California, Massachusetts, Missouri, Montana and New Hampshire can can now buy or sell bitcoin and ether using the new Robinhood Crypto policy. The service will also allow investors to track 14 other cryptocurrencies, filing bitcoin cash, litecoin, XRP, ethereum classic, zcash, monero, bitcoin gold and dogecoin.
In elementary announcing the new offerings last month, Robinhood said the move was put of a push to bring cryptocurrencies to a wider audience of investors, using a principles which “democratizes” trading by expanding the pool of possible investors including its mobile and web-based apps.
According to its website, the company makes both routine and cryptocurrency trading more accessible by offering “zero commission calling” to its customers.
The announcement provided some metrics as to how the firm is reaching new investors, translating:
“Together, we reached four million users and well over $100 billion in goings-on volume on our brokerage platform, leading to over $1 billion in commissions kept in equity trades. With the release of Robinhood Crypto, we’re continuing our occupation of making the financial system work for everyone, not just the wealthy.”
In above moreover to Robinhood Crypto, the company announced the launch of Robinhood Feed, a public media-type platform which will enable investors to discuss odd cryptocurrencies, news surrounding the space and the markets in real-time.
The Feed policy is currently only available to a limited number of people, according to the communiqu.
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