Robinhood, a mobile stock trading provider, has today officially unveiled digital currency trading platform, which is currently available to five US states.
According to the company, the residents of the following states can now use the platform to trade either in Bitcoin and Ether using the platform; Massachusetts, California, Missouri, Montana and New Hampshire. The service will also enable investors to track over 14 digital currencies including; Litecoin, Bitcoin cash, Ethereum Classic, XRP, Bitcoin gold, Monero, and Dogecoin.
Robinhood announced the new offerings in Jan 2017 and affirmed that the move was a way of availing digital currencies to a broad audience of investors. The platform equalizes the process of trading by increasing the pool of potential investors through both its mobile and web-based applications.
The Platforms’ website makes both traditional and digital currency trading more accessible by providing “zero commission trading” to its customers.
The announcement by the platform provided metrics on how the company will be close to new investors.
“We have managed to reach over four million users and over $100 billion in transaction volume in this platform, which has led to approximately $ 1 billion in commissions successfully saved in equity trades. With the launch of Robinhood digital currency, we are progressing with our goal of making the all financial system for each an individual not only the rich,”
Apart from unveiling Robinhood cryptocurrency, the firm also announced the unveiling of Robinhood Feed, a social-media related platform that allows investors to discuss distinct digital currencies including news of both the surrounding space and the markets in real-time.
The announcement has confirmed that the Robinhood Feed is available to an unlimited number of people.