The Millennial investing and trading app Robinhood, is getting into free Crypto trading starting with Bitcoin and Ethereum in 5 select U.S. states in February.
Zero-Fee Crypto Trading: The New Norm
With Robinhood adding zero-fee cryptocurrency trading and tracking, it lines up in direct competition with Coinbase, who charges fees for every trade.
Robinhood’s value proposition in terms of ideology and culture is much closer to the spirit of decentralization. Coinbase is just another greedy startup in San Francisco that while bringing cryptocurrency exchanges to the masses, hasn’t aligned well with the spirit of decentralization.
Robinhood took the #1 product of the day on Product Hunt for January 25th. Coinbase still dominates with 13 million versus Robinhood’s 3 million, but since Millennials want convenience and value ideological sync, Robinhood seems like a new appealing option.
With Crypto mania in full swing, this is the right time to do zero-free trading for Robinhood to grow their customer base.
Robinhood is a Coinbase Killer
While Coinbase app and wallet syncs with your credit card or bank account, making it easy for those into altcoins and crypto assets to purchase Bitcoin, Ethereum, Litecoin, Bitcoin Cash, etc… into their Coinbase wallet, the fees feel a lot like old school banking and trading. Because it’s really just like Silicon Valley to centralize something that’s supposed to be decentralized, for profit.
Robinhood’s 3 million users will grow exceptionally well in 2018 with the introduction of Crypto. Users are able to track the price of 16 altcoins starting this week. This isn’t just another way to trade Bitcoins, this could be the app that kills Coinbase.
Coinbase is greedy, there’s no other way to put it. Coinbase will gobble up to 4% for a transaction fee. For anyone seriously investing in crypto, that’s totally unacceptable! They made over 1 Billion dollars in fees last year alone. There’s so few players in the game; and the outages were frequent.
The idea of a no-commission stock trading app is that decentralization should kill Walstreet. That’s something young Millennials can relate to, so if you live in California, Massachusetts, Missouri, Montana or New Hampshire you will be able to track and trade the following altcoins:
It will begin however only with Bitcoin and Ethereum trading.
Source/More: Why Robinhood will Crush Coinbase – Michael K. Spencer – Medium