Robinhood is a pretty popular trading app for stocks. My first exposure to investing and trading stocks was through Robinhood actually, even though I quickly graduated to cryptocurrencies, it’s good to see this platform finally expand it’s trading abilities to include Bitcoin and Ethereum.
It will be available in February for those who have joined the waiting list.
You can join this waitlist by going to crypto.robinhood.com and checking out that link at the bottom. If you’re really hyped about this one and want to move up your position in the line, you can invite your friends to join the app and also get a chance to win some free stock yourself. I’m one of those “pretty hyped” people so if you’d like, you can use my invite link. It will also be posted down below.
The kicker here is that Robinhood is offering commission free crypto trades.
Although my first instinct was that commission free means poor price offerings. That’s probably from my experience with scammy foreign exchange offices throughout my travels.
But after doing a bit of reading it looks like the Robinhood team sees the advantage of offering this to not only expand their own user base, but to also provide more for their existing users.
I’ll be interested to learn which exchanges they’ll be partnering with or if they ever release that information. But if all seems legit then I’d say it seems the team behind Robinhood realizes the long term value by providing this new trading ability.
If you’re interested in learning more about their crypto trading options, check out the help tab, they explain how they will organize the trades and what your options will be.
Some things that are important to note is that initially, the only states available for this new addition are: California, Massachusetts, Missouri, Montana, and New Hampshire.
Also, you will not be able to participate in ICOs with this platform… yet.
Also if you’re interested to learn more about trading cryptocurrencies and how the best way to get started, I’m gonna have to strongly suggest that you keep an eye out for my next post.
Reason being that I’m going to be interviewing a pretty well-known trader who is an administrator for a popular cryptocurrency trading group on Facebook.
I’ll be asking him about his own strategies, best practices, and why the markets are behaving the way they are these days.
It’s going to be very informative so if that’s something your interested in learning more about be sure to check that one out.