Robinhood Review: The Best Margin Trading Platform?
Robinhood, the investing app, is now letting its users trade cryptocurrencies.The app, which is popular among young people and has been known for its simple interface and commission-free trades, announced the news on Thursday.Users will be able to trade bitcoin and ether, the two most popular cryptocurrencies, on the Robinhood platform. The company said that more cryptocurrencies will be added in the future."We're planning to operate this business on a break-even basis and we don't plan to profit from it for the foreseeable future," Robinhood co-founder Vlad Tenev said in a blog post. "The value of Robinhood Crypto is in growing our customer base and better serving our existing customers."The move comes as other online brokerages have been adding cryptocurrency trading to their platforms. TD Ameritrade started allowing its clients to trade bitcoin futures last month, while E*Trade is reportedly considering adding bitcoin trading to its platform.