Robinhood Expands Cryptocurrency Trading App to Utah

Commission-free investing app Robinhood today expanded its ‎cryptocurrency service to another American state, this time bringing the derivative product for its clients in Utah. ‎

Robinhood’s offering is particularly popular among the “millennial” population, who ‎appreciate the ease of using the app to trade several asset classes without fees. As for the ‎crypto offering, the platform offers no-fee 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 trading services.‎

Utah joins a handful of states that were added over the last two months as part of a phased market rollout that is moving along. Just this month, Robinhood became available in two ‎cryptocurrency-friendly states: New Mexico and Wisconsin. ‎

Robinhood Crypto got off to a good start in late February for ‎residents in five states ‎‎– California, Massachusetts, Missouri, ‎Montana, and New Hampshire.‎

The announcement has triggered a flurry of responses on Robinhood’s ‎Twitter account, ranging from requests to add more Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term to ‎asking the company to expand to other states.‎

Robinhood Crypto is buzzing in Utah. Trade Bitcoin and Ethereum, commission-free. ? pic.twitter.com/5tMgMaqXRf

— Robinhood (@RobinhoodApp) May 15, 2018

Robinhood seeks to carve out its niche by letting traders ‎buy and sell ‎cryptocurrency for $0 a trade. In doing so, the ‎company plans to make ‎money from order flows, a ‎common tactic used by discount brokers to ‎generate ‎revenue by directing orders to certain trading venues. The ‎company also receives interest on unused cash deposits ‎from user accounts and offers a ‎premium paid account for ‎‎$10 per month, which gives users added features.‎

The six-year-old startup has been growing at an explosive ‎rate. For now, Robinhood can keep its free platform ‎afloat through compromises such as not having many physical ‎locations, maintaining only a small staff ‎for client service, ‎and not spending on massive promotional campaigns. ‎

Last week, Robinhood raised its latest round of funding, ‎bringing in $363 million at a $5.6 billion valuation. ‎

The Silicon Valley company said that it would use the ‎funds to increase hiring and develop new products around ‎its stock trading app, which has more than 4 million users. ‎