Dartho
Active member
Robinhood recently announced plans to offer a cryptocurrency wallet within its app. The company plans to roll out the cryptocurrency wallet in beta form to a limited number of users before releasing it on a larger scale. The beta has now begun, and users can test it out here. Using the cryptocurrency wallet is completely free, with no network fees or commissions.
Robinhood is a cryptocurrency trading platform
Robinhood has recently announced its intention to expand its crypto offerings. The company has opened its beta program to 10,000 users. The company also announced that it has received a U.K. brokerage license, which will help it enter more international markets. Meanwhile, the company also recently announced that it has agreed to acquire cryptocurrency trading platform Ziglu. This transaction will expand the company's crypto offerings and mark an important milestone in its grand mission.
It offers a custodial wallet
Unlike many other cryptocurrencies, Robinhood offers its own cryptocurrency wallet. This wallet allows people to send and receive cryptocurrencies. There are fees associated with sending and receiving cryptocurrency. These fees vary depending on the network and the volume of trading. For example, Ethereum charges a substantial gas fee. Fortunately, Robinhood covers those fees.
It doesn't charge network fees
Robinhood cryptocurrency doesn't charge any network fees or commissions. This makes it a convenient place to trade cryptocurrency and is compatible with most popular cryptos. The platform also offers great customer support. If you run into problems while purchasing cryptocurrency, you can contact the company's staff. You can also open a free account and test out the service to see how easy it is to use.
It allows commission-free trading
Robinhood cryptocurrency allows commission-free trading, and is set to launch in beta today. Its platform routes transactions through multiple market makers and liquidity aggregator 0x, which scans data from decentralized exchanges and routes trades to the best price. 0x also powers Coinbase's marketplace for non-fungible tokens.
It generates revenue by taking a share of profits from big market makers
Robinhood makes its money by selling customer orders to high-frequency traders. The company receives rebates from the trading venues and market makers on these orders. The revenue from this service is estimated at $150 million to $250 million annually.
It has a small crypto offering
Robinhood has added a couple of new crypto tokens to its lineup. This brings the total number of tokens listed to 19. Most of these new coins are DeFi (decentralized finance) tokens, and some are even backed by industry heavyweights. Aave, for example, is a decentralized lending protocol that allows users to lend cryptocurrency without a middleman. Tezos, a proof-of-stake blockchain network utility token, is also on the Robinhood roster.
