can quickly add up.īut Robinhood sees giving away the service for free as a powerful play to gain users for its existing service that lets people trade stocks, ETFs and options without additional charges. When people are buying thousands of dollars of cryptocurrencies at a time, Coinbase’s 1.5 to 4 percent fees in the U.S. Robinhood has a chance to usurp Coinbase as the de facto crypto trading site app by vastly undercutting its fees.
Users can sign up on the Robinhood Crypto site to waitlist for access. That’s compared to paying 1.5 to 4 percent fees in the U.S. Users there can buy and sell Bitcoin and Ethereum with no extra fees, and everyone can track those and 14 other coins in its sleek app. Today, Robinhood starts rolling out its no-commission cryptocurrency trading feature in California, Massachusetts, Missouri, Montana and New Hampshire.
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