Robinhood, a no-cost stock trading phone application, has announced they will allow customers to trade Bitcoin and Ethereum with no fees beginning in February.
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“We’re planning to operate this business on break even basics and we don’t plan to profit from it for the foreseeable future. The value of Robinhood Crypto is in growing our customer base and better serving our existing customers,” said Robinhood Co-Founder, Vlad Tenev.
Users will also be able to track numerous other cryptocurrencies including Bitcoin Cash, Litecoin,Ripple, Ethereum Classic, Zcash, Monero, Dash, Stellar, Qtum, Bitcoin Gold, OmiseGo, NEO, Lisk, and Dogecoin.
The company hopes to bring more traders onto its application as a result of providing a zero-fee cryptocurrency feature.
“We believe that cryptocurrencies have the potential to fundamentally reorganize the way money works from the ground up, putting power previously held by financial institutions directly in the hands of the people,” Robinhood stated in its announcement.