The blog post wrote:
“Since we launched Robinhood Crypto in February, our customers have voiced interest in buying and selling other cryptocurrencies beyond Bitcoin and Ethereum,”
The zero-fee trading platform announced their cryptocurrency trading feature on February. Notably, more than 1 million people registered for Robinhood Crypto in just four days.
The blog post published earlier today also mentions that the rapidly-expanding fintech has topped 5 million users, 2 million user upsurge from December last. This is a remarkable milestone for a company that realized a $5.6 billion valuation after raising $363 million in May during the Series D funding round.
According to the blog post, the trading app is now available for U.S. residents across 17 states. The firm also announced their intentions to expand their coin offerings further and add support for coin transfers.
In addition to cryptocurrency trading, Robinhood users can monitor cryptocurrency market data, read the crypto news, and create price alerts for Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Ethereum Classic, Zcash, Monero, Dash, Stellar, Qtum, Bitcoin Gold, OmiseGo, NEO, Lisk, and Dogecoin.
It’s worth noting that the fintech startup doesn’t operate a digital currency exchange itself but acts as a broker with other cryptocurrency exchanges. That’s why it doesn’t make any sense to say that the app is going to be a threat to other premier U.S. based digital currency exchange like Coinbase.