Robinhood expands crypto offerings

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Trading app tries to fix a'rigged' financial system

Robinhood, a free buying and selling platform for shares and cryptocurrency, is increasing its crypto choices past Bitcoin and Ethereum to incorporate Litecoin and Bitcoin Money.

Robinhood Crypto has been steadily including states the place the service is on the market. Presently traders can purchase and promote the 4 cash in 17 states, together with California, New Jersey, Florida and Massachusetts, with extra states turning into out there sooner or later.

Robinhood started providing customers the power to commerce Bitcoin and Ethereum — the highest two cryptocurrencies by market capitalization — in February. Since then, traders have expressed curiosity in buying and selling different cryptocurrencies, in line with the corporate announcement.

Litecoin, the world’s sixth-largest cryptocurrency, rose in worth earlier this week on information that the Litecoin Basis was partnering with funds platform TokenPay. Underneath the deal, the inspiration obtained a 9.9% stake in WEG Financial institution in Germany. In return, Litecoin will support within the growth of TokenPay’s cryptocurrency and enterprise operations.

Final 12 months Bitcoin Money, presently the fourth-largest cryptocurrency by market capitalization, break up from Bitcoin in a bid to return to an authentic imaginative and prescient of being a peer-to-peer digital money system. The results of a fork within the Bitcoin​ blockchain ledger, Bitcoin Money prioritizes the power to scale up and course of transactions quick sufficient for use for funds.

Robinhood’s enlargement into crypto, geared toward making buying and selling cryptocurrencies simpler and extra accessible to traders, helped the corporate improve its attain to 5 million customers throughout the platform. However all traders needs to be conscious that investing in cryptocurrency is speculative and the market is usually unregulated.

Robinhood Crypto continues to supply customers cryptocurrency market knowledge and the chance to create worth alerts for a complete of 16 cash, together with Ripple, Ethereum Basic, Bitcoin Gold, Lisk, and Dogecoin.

CNNMoney (New York) First printed July 12, 2018: 11:50 AM ET

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