Robinhood adds support for trading BTC and ETH

[player514]

Just read this article:

http://blog.robinhood.com/news/2018/2/21/robinhood-crypto-trading-is-here

It seems as though Robinhood will continue to roll out with high scale crypto trading. If they move towards the altcoin markets, they have the chance of becoming one of the largest exchanges to support multiple coins. New investors will be particularly drawn towards the zero-fee promise that Robinhood offers all of its members as well.

What do you guys think is the next step for Robinhood and how do you think this will affect the Bitcoin prices?

[Bolt Brownie]

I think those are good news because Robinhood is a very large platform so it will attract a lot of traders to crypto world. It will probably put a big fight to the current crypto exchanges, because as far as I know, Gdax is the only crypto exchange that also offer zero fees, and it's only available for "makers", and not "takers". Although it's easy to trade with no fees there, specially if you do swing trades, the ability to completely trade with no fees is much more appealing. To bad they only have a mobile service but it's still good.

As for how it will affect the price I don't know. The news are "old" now, so it won't have any impact on the price right now. It could if their current customers start buying crypto to trade, but it should have a small impact, because traders keep buying and selling, so we everything will stay the same.

[ManaMan]

They are not available in my country tho q.q
They seem like a reputable exchange and many people opend account for their first lunch, we can see that demand is high. I've also been reading that they are looking to spread across altcoins which is a good thing. It is good that there is some competition so that coinbase don't own the space in terms of trading volume.

[avikz]

It seems like this platform is restricted to few countries only. But one thing I am struggling to understand, it may sound little off-topic here.

If this company is providing a commission free trading platform, how they are recovering their operating cost? A platform like this requires a lot of money to stay in operation and also to maintain the security. Am I missing anything? Are Indians allowed to use this platform.

[eaLiTy]

It seems like this platform is restricted to few countries only. But one thing I am struggling to understand, it may sound little off-topic here.

If this company is providing a commission free trading platform, how they are recovering their operating cost? A platform like this requires a lot of money to stay in operation and also to maintain the security. Am I missing anything? Are Indians allowed to use this platform.

Yes it is really sad to see restrictions and i am not able to access the platform yet. They are providing commission free trading and they will be making with the amount of active customers who are depositing in their site and most of the times you will be holding off the funds for the right opportunity and they might earn interest using those spare amounts and the success happens if there is millions of users and with zero commission you will get a lot of users and they are backed they are backed by major venture capital firms.

[player514]

It seems like this platform is restricted to few countries only. But one thing I am struggling to understand, it may sound little off-topic here.

If this company is providing a commission free trading platform, how they are recovering their operating cost? A platform like this requires a lot of money to stay in operation and also to maintain the security. Am I missing anything? Are Indians allowed to use this platform.

I believe there is restricted access based on your country, so it's likely that India is not supported on the system. In terms of how they make money, they do have a subscription based system as well. It's called Robinhood gold that allows you to trade 2x the free account's buying power. Furthermore, it allows for after hour trading as well. It seems like this is a part of how they make money, but there is another system that I have heard about that I don't know enough about to make a complete statement. All I know is that they use the non-invested money in your brokerage account as a bank account would and collect interest on it.

[squatz1]

I think those are good news because Robinhood is a very large platform so it will attract a lot of traders to crypto world. It will probably put a big fight to the current crypto exchanges, because as far as I know, Gdax is the only crypto exchange that also offer zero fees, and it's only available for "makers", and not "takers". Although it's easy to trade with no fees there, specially if you do swing trades, the ability to completely trade with no fees is much more appealing. To bad they only have a mobile service but it's still good.

As for how it will affect the price I don't know. The news are "old" now, so it won't have any impact on the price right now. It could if their current customers start buying crypto to trade, but it should have a small impact, because traders keep buying and selling, so we everything will stay the same.

I mean yeah the news is old now but once more and more news comes out saying that Robinhood is allowed to trade in more states then we should start seeing a bump in price and a bump in competiton in this marketplace. I'm expecting for GDAX to beef up their support and lower trading fees in order to fight with Robinhood over customers, cause I'd rather go with Robinhood if it was supported in my state.

Waiting to see some more reviews on their platform as GDAX as treated me well though. We'll see in time how it is!

[muratsink]

the more exchanges the better, how the volume of bitcoin in the exchange Robinhood? how they are releasing new coins. how many days limit here ?