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Robinhood Expands Commission-Free Cryptocurrency Trading To Bitcoin Cash And Litecoin

On Thursday, the buying and selling utility corporate gave customers the power to switch bitcoin money (BCH) and Litecoin (LTC).

For US-based monetary products and services corporations, there are possibly 4 cryptocurrencies which can be regarded as fairly secure to make stronger from a criminal point of view: bitcoin, Litecoin, Ethereum, and bitcoin money. Coinbase has helped set those requirements, permitting Ethereum buying and selling in July 2016, Litecoin buying and selling in May 2017, and bitcoin cash buying and selling in December 2017.

One extra cryptocurrency – Ethereum Classic – may quickly sign up for the secure listing, as Coinbase not too long ago introduced its aim to make stronger ETC trade. Zcash, which Gemini gained popularity of record in May 2018, is any other coin teetering at the fringe of wider adoption.

Robinhood, an organization that provides a commission-fee inventory buying and selling utility, turns out to have adopted the lead of those established cryptocurrency exchanges. In overdue 2017 and early 2018, as common passion in cryptocurrency exploded, Robinhood well added cryptocurrency price trackers to its provider. Hundreds of hundreds of consumers flocked to the corporate’s website online, asking for early get entry to to Robinhood’s cryptocurrency buying and selling platform, which, in the beginning, supported simply bitcoin and Ether.

Although cryptocurrency costs have since tumbled from their December and January highs, it seems that that client passion has no longer reduced all that a lot. If Robinhood’s newest transfer is any signal, possibly shall we see even larger heights of hypothesis.

On Tuesday, Robinhood announced the expansion of its cryptocurrency choices, including bitcoin money and Litecoin buying and selling. For now, Robinhood Crypto is best to be had to consumers in 17 states (most probably because of the web of monetary law that calls for compliance). The corporate stated that it plans to make bigger its cryptocurrency choices and “upload make stronger for coin transfers.”

From an adoption and application point of view, the way in which that Robinhood describes cryptocurrencies beneath its “Crypto Education” phase means that those “virtual currencies” stay (speculative) investments somewhat than, smartly, currencies.

Matthew is a full-time workforce author for ETHNews with a keenness for regulation and generation. In 2016, he graduated from Georgetown University the place he studied global economics and track. Matthew enjoys cycling and paying attention to podcasts. He lives in Los Angeles and holds no worth in any cryptocurrencies.

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