Mobile App Robinhood to Launch Zero-Fee Cryptocurrency Trading

Is Ethereum better than Bitcoin for the future? (Ethereum vs Bitcoin)

Is Ethereum better than Bitcoin for the future? (Ethereum vs Bitcoin)

Robinhood, the free stock trading app, is going to offer free bitcoin and ethereum trading in February.

UK Prime Minister Theresa May has warned she's looking "very seriously" at the situation surrounding Bitcoin and other leading digital currencies (such as Ethereum, Ripple and Litecoin), prompting fears that Britain could follow South Korea in enacting some form of cryptocurrency crackdown. "We hope to have it available to most consumers in the U.S.in the first half of the year", co-CEO Baiju Bhatt said in a phone call, explaining the delay is due to regulatory requirements. "We want to be there and help shape the way the industry goes with a better platform at a better price".

"People are thinking about cryptos less from a payments standpoint and more from an assets investment standpoint". Similar to any stock or bond, it looks at the level of risk taken by investors.

Internet entrepreneur Vinny Lingham predicted on Thursday that bitcoin cash - the offshoot of the popular cryptocurrency - will be in greater demand than actual bitcoin in the future.

There are always costs inherent with doing financial transactions so Robinhood is "planning to operate this business on a break-even basis and [they] don't plan to profit from it for the foreseeable future". "Multiple times people have declared them dead, and they've come back stronger than ever", Tenev said. They feel that a drop in the value of Bitcoin and its counterparts is to be expected throughout 2018, with a concurrent rise in the sheer number of investors. "Now that resiliency is something that has some real staying power". In this way, customers will be able to trade cryptocurrencies alongside stocks, ETFs, and other options. That's compared with just 3% of those aged 45-54 and 55-64.

"Crypto-currencies have the potential to change how money around the world works from the ground up", he says.

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And Robinhood is betting their entrance into the space will make investors more comfortable at the table.

Weiss Ratings has ranked Ethereum as "better" than bitcoin, as well as the EOS coin, in its first cryptocurrency ratings.

A slew of USA firms that have played up their connection with blockchain, crypto or Bitcoin - including a former beverage maker and an iconic photography company, a few payment processing firms, and an online retailer - enjoyed a short-lived surge off the back of Bitcoin's 1,400 percent rally past year. Additional funds will go through the slower automated clearing house (ACH) system.

He said: "Since our customers are nearly entirely in the United States, we rarely get more than small amounts of traffic from Asia".

"We view entering crypto as a way to extend our user base and build our brand."

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