News

Robinhood rolls out zero-commission trading for Bitcoin and Ethereum

The Palo Alto based financial Brokerage firm Robinhood has rolled out commission-free trading for Bitcoin and Ethereum. Investors can now trade bitcoin and Ethereum for free in a handful of US states. The states include California, Massachusetts, Missouri and Montana, the company said on Twitter. Users will still be responsible for fees charged by the underlying exchanges. But you can’t beat the quick access to funds.

The launch is still in its beta stage and some of the users won’t be able to see the changes. Moreover, some people from the Twitter community have also reported that the Crypto part of the app is buggy, while stocks and ETF trading works like a charm.

The zero-commission trading has given Robinhood an advantage over other large exchanges such as Coinbase which charge trading fee of around 1.7% to 4%. Instead of relying on trading fee, Robinhood will earn profits through interest accumulated in the banks and a new subscription model called RobinHood gold which allows someone to trade with large amounts of money.

RobinHood plans to release this new feature in New Hampshire next, although the company claims that the release will be gradual.


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

blockmanity

Share
Published by
blockmanity

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

2 months ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

3 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

4 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

4 months ago