Noting that a recent study cited in the Wall Street Journal found that women make up less than 25 percent of deposits into US brokerage accounts, Robinhood added, “we’re excited by the potential of cryptocurrency to help democratize finance for all.”
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Bitcoin democratized finance once, but it can’t grow like that again
Cryptocurrency prices will rebound once the panic subsides, but they will never do what Bitcoin did at the bottom of the Great Recession in 2009
Looking back on the 10th anniversary of the “Great Recession” New York Magazine put it this way: “The older folks hoovered up gold, which basically doubled in value in the four years after the crash. Younger folks dove into cryptocurrency.”
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Review | We tried out Robinhood’s fee-free crypto app and here’s what we found
The cons outweigh the pros—here’s why
On Monday, popular stock app Robinhood rolled out zero-fee crypto trades for users in California, Massachusetts, Missouri, and Montana, with other states to follow. Just announcing that they would do something like this sent Robinhood’s valuation well over $5 billion. Users in those states can invest in 16 cryptocurrencies, including popular names like bitcoin, ether, Bitcoin Cash, Litecoin, and Ripple’s XRP. And Robinhood also has some lesser-known coins like Zcash, Monero, Dash, and even the semi-serious Dogecoin. TechCrunch called it the “Coinbase-killer” but we are wary of the entire platform. Robinhood joins Abra and Uphold in the “invest in” crypto bandwagon. They want you to have an easy way to…
