We’re often asked when we’ll be adding more cryptocurrencies to Robinhood. While we can’t give an exact date, we can tell you that we’re working hard to make it happen. In the meantime, you can check out our blog for the latest updates.
Checkout this video:
Robinhood, the commission-free stock trading app, has been a game-changer for many investors. Since it launched in 2015, Robinhood has made investing more accessible to a wider audience by eliminating commissions and offering a user-friendly platform. The app has been so successful that it now boasts over 10 million users and is valued at $5.6 billion.
In 2018, Robinhood took things one step further by allowing users to trade cryptocurrencies on its platform.Currently, Robinhood supports 16 different cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. This was a major development in the cryptocurrency space as it made investing in digital currencies more accessible to the average person.
So far, Robinhood has been very successful in the cryptocurrency space. In just a few months after launching crypto trading, Robinhood had already surpassed Coinbase as the most popular platform for buying and selling digital currencies. Furthermore, Robinhood has been able to attract some high-profile investors, such as Google Ventures and Andreessen Horowitz.
Given its success so far, it’s natural to wonder when Robinhood will add more cryptocurrencies to its platform. Unfortunately, there is no easy answer to this question since Robinhood does not publicly disclose its plans for future coin listings. However, there are a few factors that could influence when (or if) Robinhood decides to add more cryptocurrencies in the future.
What is Robinhood?
Robinhood is a commission-free stock trading app that allows users to buy and sell stocks, ETFs, options, and cryptocurrencies. Founded in 2013, Robinhood has over 10 million users and is available in 49 U.S. states. Robinhood doesn’t currently offer crypto trading in Canada but plans to do so in the future.
What is Bitcoin?
Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.
What is Ethereum?
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
In Ethereum, you can write code that controls money, and build applications accessible anywhere in the world.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent ownership of property.
What is Litecoin?
Litecoin is a cryptocurrency that is similar to Bitcoin but with a few key differences. One of the biggest differences is that Litecoin has a faster transaction speed than Bitcoin. This makes Litecoin a good choice for those looking to use cryptocurrency for everyday transactions. Another difference is that Litecoin has a higher amount of coins that can be mined. This makes it attractive to those who are looking to invest in cryptocurrency.
What is Bitcoin Cash?
Bitcoin Cash is a cryptocurrency that was created in August 2017. It is a fork of the Bitcoin blockchain, with some changes to the rules that govern how the network operates. The most notable change is an increase in the block size limit from 1 megabyte to 8 megabytes. This change was made to help the network scale better as more people start using it.
Bitcoin Cash is not affiliated with the company Robinhood, and it is not currently available to trade on the Robinhood app. It is possible that Robinhood will add support for Bitcoin Cash at some point in the future, but there is no telling when (or if) this will happen.
What is Ripple?
Ripple is a digital currency and payments network built on a distributed ledger that allows for fast, low-cost international payments. Ripple is the third-largest cryptocurrency by market capitalization, after Bitcoin and Ethereum.
How to buy Bitcoin on Robinhood?
Robinhood Crypto is currently available in 22 states, but is not yet available in Wyoming, Iowa, and Nebraska. We plan on expanding to more states soon. Stay tuned!
To buy Bitcoin on Robinhood:
1) Log in to your Robinhood account.
2) Go to the search bar and type in “Bitcoin”.
3) Scroll down and click on “trade” next to Bitcoin.
4) Select whether you want to buy or sell.
5) Enter the amount of Bitcoin you want to buy/sell.
6) Click “Preview Buy/Sell” to review your transaction.
7) If everything looks good, click “Buy/Sell” to confirm your transaction.
How to buy Ethereum on Robinhood?
Ethereum is not currently available to invest in on Robinhood. However, you can sign up for a waitlist on our website to receive updates about Ethereum and other cryptocurrencies that may become available for investing in the future.
In the meantime, you can still invest in other cryptocurrencies like Bitcoin and Ethereum Classic that are available on Robinhood. You can also track real-time data and news related to Ethereum by adding it to your watchlist.
How to buy Litecoin on Robinhood?
This guide is for anyone who wants to buy Litecoin on Robinhood. Robinhood is a stock brokerage that allows customers to buy and sell stocks, ETFs, and options without paying commissions. The company recently added the ability to buy and sell cryptocurrencies on its platform.
Litecoin is a cryptocurrency that was created in 2011 as an alternative to Bitcoin. Litecoin has faster transaction times and lower transaction fees than Bitcoin.
To buy Litecoin on Robinhood:
1. Log into your account on the Robinhood website or mobile app.
2. Search for “LTC” in the search box at the top of the screen.
3. Click on the “Trade” button for Litecoin.
4. Enter the amount of Litecoin you want to buy in the “Quantity” field and click “Preview Buy”.
5. Review the trade details and click “Confirm Buy” to complete your purchase.
How to buy Bitcoin Cash on Robinhood?
Crypto on Robinhood is currently unavailable, but we offer the ability to buy, sell, and hold Bitcoin Cash (BCH) and Ethereum (ETH). For updates on when more crypto will be available in your region, follow us on Twitter, sign up for notifications in the app, or check our blog.
If you want to buy or sell crypto outside of Robinhood Crypto, you can do so through another exchange or broker. Exchanges like Coinbase and Kraken offer cryptocurrency trading in addition to traditional securities trading.
How to buy Ripple on Robinhood?
Ripple is not currently available on Robinhood. We plan to offer more coins in the future and will announce them on our website as soon as they become available. Thanks for your interest!
Robinhood Crypto Fees
Currently, Robinhood only offers trading in Bitcoin and Ethereum, but the company plans to add more cryptocurrencies in the future. They have not announced which coins they will add or when they will be available, but they have said that they will ” continue to evaluate potential additions to our platform.”
In the meantime, Robinhood has waived all fees for cryptocurrency trading. This is a significant benefit, as other exchanges typically charge a percentage of the total trade value. For example, if you were to buy $1,000 worth of Bitcoin on Coinbase, you would pay a fee of $10 (1%). On Robinhood, you would pay $0 in fees.
If you’re interested in getting started with cryptocurrency trading on Robinhood, you can sign up for an account here.
Robinhood Crypto Limits
On January 13th, 2018, Robinhood announced sweeping changes to how they would handle crypto on their platform. Perhaps the most talked about change was the limit they placed on how much crypto could be purchased per week. This limit was $2,500 worth of crypto per week. In addition to this limit, there were also reports that Robinhood was not processing some crypto deposits in a timely manner.
Robinhood Crypto Pros and Cons
Robinhood is one of the most popular stock trading apps, and in 2018 they added support for cryptocurrency trading. But what exactly are the pros and cons of using Robinhood for crypto?
– Low fees: Robinhood doesn’t charge any commissions on crypto trades, like most other exchanges do.
– Easy to use: The Robinhood app is very user-friendly and easy to navigate.
– Convenient: You can buy and sell crypto directly from your Robinhood account, without having to set up a separate account with a third-party exchange.
– Limited selection: Right now, Robinhood only supports trading for a handful of different cryptocurrencies. So if you’re looking to trade a lesser-known coin, you’re out of luck.
– No advanced features: Robinhood doesn’t offer any of the advanced features that some other exchanges do, like margin trading or stop-loss orders.
In conclusion, there is no set answer for when Robinhood will add more cryptocurrency to its platform. However, given the popularity of cryptocurrency and the demand from Robinhood users, it is likely that the company will eventually offer more digital assets. In the meantime, Robinhood users can still trade a variety of cryptocurrencies on other exchanges.