The user-friendly, fee-less trading app Robinhood has expanded its library of cryptocurrencies to now include Bitcoin Cash (BCH) and Litecoin (LTC) to its platform. Robinhood is no stranger to crytpo, as its had coins in its exchange since February and offers Bitcoin and Ethereum trading in Arizona, California, Colorado, Florida, Indiana, Massachusetts, Michigan, Mississippi, Missouri, Montana, New Jersey, New Mexico, Pennsylvania, Texas, Utah, Virginia, and Wisconsin.
Robinhood has consistently enforced its practice of not having any trading fees, even though the competitors state that it may hinder the app’s quality and standards. It was started back in 2013 and has blown up to great heights as it’s one of the few platforms with no fees. It uses modern technology and is valued at about $5.6B. It’s even surpassed other giants like E-Trade in the sheer number of active users and is now of the large brokers in the world.
“To say you’re doing a trade for free is just disingenuous. If you’re buying one share of Apple, maybe you don’t care that your execution quality isn’t the highest it could be. If you’re buying a thousand shares of Apple, you care a lot.” – Walt Bettinger, CEO Charles Schwab
The mobile app investing giant added BCH and LTC to its limited list of coins due to the demand and interest in cryptocurrency from its demographic. Robinhood will also extend its no-fee trading offer, which is probably what it’s known best making it one of the most popular trading apps amongst Milennias today.
Bitcoin and Ethereum have been determined to not be securities as confirmed by the Securities and Exchange Commission (SEC), and thus defined the limited risk for an exchange that adds coins with security-like characteristics. Bitcoin Cash is simply a fork of Bitcoin at its coin. Litecoin is a fork of the Bitcoin Core client. They rank as the fourth and sixth largest investments ranked by market cap at $11.4B and $4.3B respectively.
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Disclaimer: Our authors may hold active positions in one or multiple cryptocurrencies discussed on this news portal. Opinions expressed at AWSMO are NOT investment advice and any investment in one or more cryptocurrencies may be high-risk and extremely volatile. Please due your due diligence before making any investments in any cryptocurrency. Your investments are your own risk and you assume full responsibility for your actions.