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…
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Robinhood is opening the door for millennials to do more crypto trading on the cheap. And what says "millennial" more than a young person taking a photo of something with her iPhone? (via Shutterstock)Millennial favorite Robinhood tries to lure crypto traders with no fees
Will zero-fee crypto-transactions be enough to win the exchange wars?
Financial services company Robinhood is sailing a rising tide of hype after announcing that it will implement zero-fee cryptocurrency trading. Whether it’s to the tune of huge gains or crushing losses, account holders can use their platform to speculate on bitcoin starting next month, and won’t pay any fees to do so. Just as cryptocurrency traders might have their preferred coins, they also have their favorite exchanges for buying them. Robinhood is a five-year-old smartphone-based no-fee platform for trading stocks and ETFs. It boasts mainstream street cred as a member of the Securities Investor Protection Corporation that’s registered with the U.S. Securities and Exchange Commission. Last year 2 million people…