Starting in February, the application of Robinhood shares trading at no cost will allow users to exchange Bitcoin and Ethereum toll free, the company announced in

The announcement is welcome to users of other cryptocurrency exchanges who have become accustomed to paying fees ranging from from 0.1% to 4% per transaction on platforms like Coinbase

Robinhood also allows users to track the price of a number of other cryptocurrencies, including Ripple and Litecoin, although the actual trading function will only be available for Bitcoin and Ethereum.

The intention of the company is to use the function of free cryptocurrency trading as " loss-leader ", which It allows it to attract more traders on its platform, which can already count more than 3 million users.

Robin Hood The co-founder Vlad Tenev told TechCrunch:

"We plan to operate this business on a profitability basis and we do not want to be able to do that. Let's consider taking advantage of this in the foreseeable future.The value of Robinhood Crypto is to grow our customer base and better serve our existing customers. "

In addition, by providing tools for Analysis and transaction simple to use, the company hopes to attract more users.

" We believe that cryptocurrencies have the potential to fundamentally reorganize the way money operates from scratch, by directly entrusting the power previously held by financial institutions to the people "Robinhood added in his ad.