Robinhood Unveils Commission Free Crypto Trading In Four US States

Robinhood, a popular commission-free stock and cryptocurrency trading app, rolled out Bitcoin and Ethereum trading to investors in four US states including California.

Other states covered by the move announced on Twitter on April 2 are Massachusetts, Missouri, and Montana.

In January, Robinhood added 16 cryptocurrencies to its platform and allowed users to add them to their watch-list for monitoring price trends, create price alerts, and track news.

Cryptocurrency trading went live on Robinhood platform on February 22 and was offered initially to the first set of customers.

The brokerage account that allows trading of equities and options is with Robinhood Financial, LLC and is separate from the cryptocurrency trading account with Robinhood Crypto, LLC.

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For now, the app supports only trading in Bitcoin and Ethereum, but offers real-time market data for several altcoins such as Bitcoin Cash, Dogecoin, NEO, and Ripple. The app does not support initial coin offerings currently.

The company also launched a Robinhood Feed for a limited number of customers in February. This is a forum for app users to discuss cryptocurrencies, news, and market swings, in real-time with other investors on the platform.

New Hampshire was also among the states Robinhood was initially targeting, but the state was not included in the latest roll out. The company plans to add more states soon.

The Palo Alto, California-based company with its commission-free trading has thrown up a challenge to several cryptocurrency exchanges that charge up to 4 percent as trading fees.

by Jyotsna VRTTNews Staff Writer

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