Robinhood, a no cost app will allow users to trade Bitcoin and Ethereum at no cost starting from February.
Bitcoin transaction fees have been a big obstacle in Crypto trading with transaction fees falling between 0.1% to 4% on popular trading platforms.
Vlad Tenev co-founder of Robinhood says
“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.”
Robinhood also appears to be driven by Ideology as they also stated “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,”
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