{"id":5403,"date":"2018-01-25T10:48:58","date_gmt":"2018-01-25T18:48:58","guid":{"rendered":"https:\/\/coincentral.com\/?p=5403"},"modified":"2018-04-04T04:32:44","modified_gmt":"2018-04-04T11:32:44","slug":"robinhood-announces-cryptocurrency-trading","status":"publish","type":"post","link":"https:\/\/coincentral.com\/robinhood-announces-cryptocurrency-trading\/","title":{"rendered":"Popular Trading App Robinhood Opens its Coffers to Cryptocurrencies"},"content":{"rendered":"<h2>Giving to the Needy What the Rich Won&#8217;t Touch<\/h2>\n<p><span style=\"font-weight: 400;\">The mobile stock trading app Robinhood will soon open up cryptocurrency options to its users, <\/span><a href=\"https:\/\/www.cnbc.com\/2018\/01\/25\/stock-trading-app-robinhood-to-roll-out-bitcoin-ethereum-trading.html\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">CNBC reports<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Starting in February, users from California, Massachusetts, Missouri, Montana, and New Hampshire will have access to <a href=\"https:\/\/coincentral.com\/what-is-bitcoin\/\">Bitcoin<\/a> and <a href=\"https:\/\/coincentral.com\/what-is-ethereum\/\">Ethereum<\/a> trading pairs. \u00a0The move comes at a time when cryptocurrency interest in mainstream media and popular culture is at a fever pitch, and Robinhood\u2019s founders want to attract the fledgling traders that cryptocurrencies have brought to the investing scene.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8220;Cryptocurrencies have become the first foray into investing and financial services to a large number of people,&#8221; Vlad Tenev, Robinhood\u2019s co-founder, \u00a0told CNBC. \u00a0Tenev believes that it\u2019s now clear that Bitcoin and its cohorts are a legitimate \u201cinvesting asset.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Established in 2013, Robinhood was founded with the focus on challenging what it\u2019s founders believed to be a stock investing model that benefited the already wealthy. \u00a0They wanted to break the barriers of entry and exclusivity that defines most stock trading platforms. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It seems fitting, then, that they should adopt such a disruptive asset class as cryptocurrencies. Considering that 78% of their 3mln users are millennials, the move seems fitting as this group is especially attracted to cryptocurrency investments.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In line with the company\u2019s mission, Robinhood will offer their <a href=\"https:\/\/crypto.robinhood.com\/\" target=\"_blank\" rel=\"nofollow noopener\">cryptocurrency trading services<\/a> for free. \u00a0On top of this, it promises instant purchase transfers on any amount under $1,000, and there will be no purchasing or withdrawal limits either. \u00a0The company will keep investor funds secure with offline cold storage, while its hot wallet reserve will be managed by a third-party wallet provider.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8220;We want to break even on this business, not to profit from it. We view this as an opportunity to expand our customer base and give our customers more access to functionality,\u201d Tenev indicated to CNBC.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Robinhood\u2019s cryptocurrency features will also include real-time price tracking of Ripple, Bitcoin Cash, Litecoin, Stellar Lumens, Zcash, Ethereum Classic, <a href=\"https:\/\/coincentral.com\/what-is-monero\/\">Monero<\/a>, <a href=\"https:\/\/coincentral.com\/what-is-dash\/\">Dash<\/a>, NEO, Qtum, <a href=\"https:\/\/coincentral.com\/what-is-omisego\/\">OmiseGo<\/a>, Bitcoin Gold, Lisk, and Dogecoin. \u00a0The trading app plans to accommodate markets for these coins&#8211;and potentially others&#8211;in the future, as well.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>True to its name, stock trading app Robinhood will soon give its customers Bitcoin and Ethereum options alongside traditional assets and zero trading fees.<\/p>\n","protected":false},"author":28,"featured_media":5405,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"iawp_total_views":4,"footnotes":""},"categories":[1],"tags":[5762,5850],"class_list":{"0":"post-5403","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-cryptocurrency-industry","9":"tag-use-cases"},"wppr_data":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Robinhood Announces Cryptocurrency Trading | Coin Central<\/title>\n<meta name=\"description\" content=\"True to its name, stock trading app Robinhood will soon give its customers Bitcoin and Ethereum options alongside traditional assets and zero trading fees.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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