A step towards more accessibility...

Robinhood has launched a cryptocurrency trading platform, Robinhood Crypto, enabling commission-free trading of a number of major cryptocurrencies, including Bitcoin, Ethereum, Bitcoin cash, Litecoin, and Ripple on both mobile and web-based applications (a total of 15 cryptocurrencies are available).

The service is rolling out, beginning with five states (California, Massachusetts, Missouri, Montana and New Hampshire). The goal is to make cryptocurrency trading available to a broader demographic who may be new to this sort of trading, coming from the more traditional world of the stock market. As the Robinhood app has already been available to those comfortable with the world of stock trading, access to the 24/7 volatile cryptocurrency market may draw in traditional investors via the familiar service.

Thus far today, the market has remained fairly subdued with little response to this relatively small roll-out. Activity on the platform should grow gradually as Robinhood adds more users. The service is starting out small in order to smoothly handle capacity issues. For now, traders can place market or limit orders on the service. For further details on how trading works via Robinhood Crypto, check out this link.

As cryptocurrency infiltrates mainstream trading, demand for the alternative market will grow. Robinhood alone has accrued a waiting list of more than one million potential clients. Robinhood's offer of commission-free trading may also put pressure on other exchanges to lower their trading fees, although it should be noted that there are still fees associated with the exchanges that Robinhood uses for the service. To clarify, Robinhood does not charge additional fees, but the fees charged by exchanges used by Robinhood will still be charged to customers. Expect to see more demand from the traditional side of the market for this rapidly growing market. Competition is good!

source:

https://www.robinhood.com/

image source:

https://www.slashgear.com/stock-app-robinhood-ads-no-fee-bitcoin-trading-25517052/