E*Trade Planning to Introduce Crypto Trading Services

Retail brokerage firm E*Trade is planning to introduce cryptocurrency trading services on its platform, according to a Bloomberg report.

In the initial phase, E*Trade is considering to introduce only Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term trading services, however, it has plans of adding other digital currencies in the future.

In the wake of TD Ameritrade quietly opening Bitcoin trading for some of its customers, I was just told that eTrade is preparing to begin offering both Bitcoin and Ether trading to its 5 million or so customers and is just finalizing a third party to actually hold the coins.

— Nathaniel Popper (@nathanielpopper) April 26, 2019

This might be a massive breakthrough for crypto as the New York-headquartered company is one of the largest securities brokerages with around 5 million customers, as reported by the firm in its annual report filed with the Securities and Exchange Services (SEC) in December.

Impressive quarterly results

The company’s business is also booming as its profits surged 17 percent in the last quarter with an addition of 135,000 new brokerage accounts on a net basis, as per The Wall Street Journal.

E*Trade is not the only securities brokerage to jump in the crypto trading space as its market competitor Robinhood is already offering crypto trading services in the US market. The company launched the crypto-based services in February 2018 when the market was gearing for a slump. However, its commission-free business model attracted a huge number of traders on the platform which boosted its valuation to $5.6 billion.

Earlier this year, Robinhood received BitLicense from the regulators of the state of New York to expand its trading services with a digital coin in the state.

Apart from E*Trade, TD Ameritrade is also working with crypto exchange ErisX to bring spot trading services for digital currencies, The Block reported recently. The Omaha-based brokerage company has 11 million clients on its platform.