Available crypto on robinhood
The CFO of Robinhood, Jason Warnick, said on Wednesday that the company has no immediate plans to add new crypto assets—a move that will come as a disappointment to owners of Shiba Inu SHIB and other tokens that stand to get a boost from a listing on the popular platform. Speaking to reporters shortly after Robinhood posted Q4 earnings, Warnick said the company is proceeding cautiously in light of conversations with regulators who have warned they may regard certain tokens as unlicensed securities. The message is clear," said Warnick, adding Robinhood is committed to new assets but is not able to state when it will list them. Crypto has become a central part of Robinhood's business strategy, which includes the recent launch of a wallet that will let customers send their assets off the platform.
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- Coinbase vs. Robinhood: Which one is better for cryptocurrency investing?
- Bitcoin, Ethereum, More Cryptocurrency Added to Free Trading App Robinhood
- The Robinhood App Will Soon Let You Give 7 Different Kinds of Cryptos as Gifts
- Robinhood maps out new crypto coins, retirement product, international expansion
- Coinbase vs. Robinhood: Which Is the Better Crypto Brokerage?
- Robinhood: All You Need To Know About The Crypto Trading App
- Robinhood competitor Public adds cryptocurrency trading to its platform as digital assets rally
- Robinhood’s crypto wallet is smart, risky — and inevitable
Coinbase vs. Robinhood: Which one is better for cryptocurrency investing?
Most of the loss was due to accounting changes related to a fundraising round it undertook early this year. The loss was no surprise after the company had earlier given preliminary estimated results for the quarter.
The spring marked the first quarter for Robinhood where new customers were more likely to make their first trade in cryptocurrencies rather than in stocks. Robinhood CEO Vlad Tenev said in a recent interview with The Associated Press that he wants the company to make it easy to trade any asset its customers are interested in, and that increasingly means crypto.
Interest in cryptocurrencies surged in the early part of last quarter, leading to a frenzy of trading activity. Even dogecoin, whose fans have been trying to help it shed its image as a joke cryptocurrency, soared.
It got to 74 cents in May after starting the year at roughly half a penny. But cryptocurrencies are notoriously volatile, and their prices have continued to swing sharply since hitting those peaks. The company said Wednesday that its revenue will likely drop from the second quarter to the third. Trading for brokerages is typically busiest in the first half of the year, before fading in the second half, he said.
Robinhood's revenue also does best when markets are volatile and customers are trading a lot, and the first two quarters of the year were punctuated by extreme volatility. Such swings are nothing new in the stock's young life.
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Bitcoin, Ethereum, More Cryptocurrency Added to Free Trading App Robinhood
Robinhood said it plans to begin testing cryptocurrency wallets next month to allow its users to move, send and receive cryptocurrencies in and out of the Robinhood app. The American financial services company based in California said on Wednesday a broader rollout will be launched in early The Menlo Park-based retail brokerage currently allows buying, selling, and holding certain cryptocurrencies, like Bitcoin and Dogecoin, and last quarter saw crypto transactions exceed equities transactions for the first time. Customers of Robinhood, which benefited from a boom in retail trading during the pandemic, have long asked for crypto wallets, which would allow them to participate more broadly in blockchain-based ecosystems, such as buying virtual assets like non-fungible tokens NTFs on the Ethereum network. The company plans to survey its current crypto-trading customers, which make up around 60 per cent of the app's
The Robinhood App Will Soon Let You Give 7 Different Kinds of Cryptos as Gifts
The waitlist for Robinhood 's recently announced crypto wallet now has more than one million customers, the company's CEO said Thursday, demonstrating cryptocurrencies' increasing importance to the trading app. A lot of people have been asking for the ability to send and receive cryptocurrencies, transfer them to hardware wallets, transfer them onto the platform to consolidate and the crypo wallets waitlist is well over a million people now. Last month, Robinhood announced it was testing a crypto wallet feature. The wallet will allow investors to trade, send and receive digital currencies, as well as move them in and out of the Robinhood app. Robinhood currently offers seven digital coins, including bitcoin, ethereum and litecoin. The start-up debuted cryptocurrency trading three years ago, but it has become more important to the company's top line. More than half of Robinhood's transaction-based revenue last quarter came from cryptocurrency trading. The new wallets will let clients consolidate their digital coins into one account.
Robinhood maps out new crypto coins, retirement product, international expansion
New to Shacknews? Signup for a Free Account. According to its recent earnings results, Robinhood saw a more than threefold boost in cryptocurrency activity on its platform. And being an investment platform, Robinhood is uniquely positioned to take advantage of it.
Coinbase vs. Robinhood: Which Is the Better Crypto Brokerage?
The company's stock, though, stays weak after it posted a wider-than-expected loss in Q4 and issued soft revenue guidance for Q1 Robinhood HOOD plans to add more coins to its cryptocurrency trading capabilities. While securities regulators are watching the space closely for coins that would be considered unregistered securities, Tenev said he's comfortable with Robinhood's HOOD analysis and "we intend to add more coins going forward. The fintech expects to launch a fully-paid securities lending program in the first half of , though it's still discussing the product with regulators. In addition, it's planning to roll out a feature that expands available trading hours later this quarter.
Robinhood: All You Need To Know About The Crypto Trading App
The bloodbath in the cryptocurrency market is taking a gigantic toll on online brokerage stocks Robinhood and Coinbase. Shares of both companies, which each went public last year, slid Monday to new all-time lows before bouncing back. That hurts companies like Robinhood and Coinbase, which allow traders to buy and sell bitcoin, ethereum and other digital currencies. Shares of bitcoin miners Marathon Digital, Hive and Riot Blockchain rallied to end the day higher in volatile trading, but each has lost nearly a third of their market value so far this year. But the broader market volatility is doubly bad for Robinhood, given that it is primarily known as an app for trading stocks. All rights reserved. You must be logged in to post a comment. By CNN Newssource.
Robinhood competitor Public adds cryptocurrency trading to its platform as digital assets rally
With the rising interest in buying and trading cryptocurrencies, CoinMarketCap takes a look at one of the more popular crypto and fiat trading platforms: Robinhood. Many consider Robinhood to be the investment platform of choice for millennials and Gen Z. The company has removed barriers to entry for many young people by eliminating much of the complexity and baggage associated with more traditional routes to trading and investing.
Robinhood’s crypto wallet is smart, risky — and inevitable
RELATED VIDEO: Robinhood Cryptocurrency Is A Bad safe-crypto.me's WhyAlmost four years after Robinhood began offering cryptocurrency trading on its platform, the company is now finally about to introduce crypto wallets for its customers. Announced in a blog post over on its website, Robinhood is now beta testing crypto wallets for those that are trading on its platform. For now, only 1, select accounts who have signed up on its Wallets waitlist will be able to try out the new feature, but the company hopes to expand this number to 10, by March before an even wider release later in the year. Aside from being able to store and trade cryptocurrencies with the wallet directly on Robinhood, users will also be able to send and receive coins from external wallets, connecting them to the blockchain at a great scale. Much like other services on the market, the wallet can calculate an estimated dollar amount for what you currently own or desire to send and receive.
Back in September , Robinhood announced plans to test a cryptocurrency wallet within its app. At the time, the company said it would open the beta to a small number of people before expanding availability ahead of a full-scale release. If you joined the waiting list Robinhood create, you can now test the wallet for yourself — provided you were one of the first 1, people to sign up for the beta. In a blog post the company published today, Robinhood said it would invite 10, individuals to the beta by March, with more to follow later. With today's rollout, the wallet supports Bitcoin, Ethereum and Dogecoin.
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