The cryptocurrency market has grown exponentially in recent years. As the crypto coins value increases, more and more investors are looking to invest in them. To buy these coins you can use a variety of platforms like Coinbase or Robinhood. In this post, we will discuss how to invest in cryptocurrencies using Robinhood app.
Robinhood is an American stock brokerage and investment platform that was launched in 2013. The company has its headquarters in Palo Alto, California and it has about 3 million users across the country. Robinhood offers zero-commission trading of stocks and ETFs through its mobile app and web platform (though no crypto transactions are available on their mobile app).
In February 2018, Robinhood announced that they were launching limited cryptocurrency trading in five US states: California, Massachusetts, Missouri, Montana and New Hampshire. This means that you can now invest in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) or Bitcoin Cash (BCH) on your mobile phone!
Robinhood is a free trading platform designed to help you invest in stock markets with no commission and fee. In 2018, they introduced a new feature to invest in cryptocurrency – but just on few coins including Bitcoin, Ethereum, Bitcoin Cash and Litecoin
Robinhood has expanded their crypto offerings since they first launched. They recently added support for Dogecoin (DOGE), Ethereum Classic (ETC) and Bitcoin SV (BSV). Unfortunately Robinhood will not allow users to buy or sell these coins directly through their app at this time.
For first time users, the registration process is pretty straightforward. You will need to provide some personal information including your name and address so that they can verify your identity. After that, you can start trading cryptocurrencies on Robinhood platform.