Robinhood has announced that it will begin to manage the virtual currency for the stock trading service without commissions. The shares are Bitcoin and Ethereum, and the transaction fee is obviously zero.
Compared to other exchanges, zero cost is an obvious advantage of Robinhood. Coinbase, the largest virtual currency exchange in the United States, costs 1.5 – 4% commission.
“We have no plans to generate revenue at this time and for some time we will work to gain new customers and improve services for existing customers even at break even,” explains Robinhood.
Robinhood Crypto, an application that is prepared for virtual currency trading, presents the user with the estimated price of the security first, not the price itself. Thus, if the user issues a purchase / sale order, he performs a cross-search in the exchanges and sales offices of these securities and looks for the most favorable condition. Naturally, since the price fluctuation of virtual currency is high, the transaction has a certain margin and, if it exceeds the width, lets decide whether to execute the order to the user.
virtual currency managed, first of a sequential expansion plans, even if there are only Bitcoin and Ethereum, corresponding to-do lists for Bitcoin Cassa and Ethereum Classic, Litecoin, Ripple, Dash, Zcash, Monero, Qtum, Bitcoin Oro, OmiseGo , NEO, Lisk, Dogecoin and so on.
It should be noted, the Robinhood Crypto app did not necessarily become able to use any part soon, First California, Massachusetts, Missouri, Montana, scheduled from February to New Hampshire in each state.
Even if the virtual currency is the price or buy things for the intensity of the utility fluctuations like “currency” altered, while some, from the eyes of the commercial services, like Robinhood is still as attractive as.