er
7 years ago in #bitcoin by bitcoinflood (79)
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I haven't looked in to it... But what is their business model if they don't charge trading fees? They need make a living one way or another, so what's the catch?
With all accounts you always have a small cash balance of a few dollars either from dividends or sells etc. They take that money and keep the interest on it is how they fuel their business.
Additionally they also make revenue by charging customers for an optional premium offering - Robinhood Gold. With Robinhood Gold you get perks like instant availability of funds, after hours trading, and margin.
Ah yes this is true forgot about that thank you!
very cool
This will bring in so many new investors! Super excited!
This is a game changer for Robinhood and for crypto traders like me. Coinbase takes up a huge chunk of money as trading fees. Which defeats the purpose of decentralization and why cryptocurrencies were made in the first place. Thanks @bitcoinflood for this wonderful piece of information. Cheers!
Coinbase has a very easy interface and a solid reputation, even among institutional investors. I still like their platform, but can't deny the appeal of trading without fees. Lets hope they can scale and provide top notch security (which makes me wonder how much they can invest in developing security for their platform without fees).
is there an updated list of countries they support somewhere?
Robinhood Now More Available - Including My State!
This is really a robinhood indeed. The idea of being able to trade freely will bring about more usage to the platform. Cant wait to have it here
So one can trade for free?? This is really a robinhood indeed. The idea of being able to trade freely will bring about more usage to the platform. Cant wait to have it here
Yup zero fees on their trades so you would not be paying the coinbase fee anymore when you buy crypto saves you a good amount of money.
Thanks for the link and your continued support for the robbin hood app. This is literally going to simplify a lot of efforts directed towards cryptocurrency i.e bitcoin, ripple, ethereum, and the rest. And zero fees, this is totally a winner. This is the future!!
I have been following this Robbinhood story for awhile. Do you know if they are accepting from the state of Florida yet?
Yup Florida was just accepted! This is where I live just west of Orando!
I will be changing from Coinbase. I assume you can transfer from Robbinhood to Poloniex so I can but Alt coins? BTW. Love Orlando area
Actually I don't believe that is the case. I'm happy to be wrong but I'm pretty sure you won't have the same ownership of the coin to where you could transfer it off the platform like you can with Coinbase.
so, its only a platform to buy a couple of different coins ?
Yes, currently only Bitcoin and Ethereum (although they provide real time pricing for several altcoins). I just tested it out, once you buy some crypto on the platform your only options are to either buy more or sell. No option to transfer the coin off the platform, although that could change in the future.
thanks for the info
This is reminding me of the late 90s when online brokerages started coming into the market to challenge the huge wall street brokerages who were charging a percentage of trades as commissions when buying stocks. These online brokers started putting fixed dollar amount which in most cases were much lower. A price ensued and most retail investors benefited as costs got lower and services offered improved. We may see the same in these cryptocurrency exchanges soon.
This sounds like its going yo be a hit. I should also get hold of it before the offer it out. Thanks for sharing, its always good to stick around people like you
Finally got approved this week here in Florida.
The zero fees is a game changer. I'm wondering if it'll be worth doing some swing trading. I wish it supported more cryptos but either way this is a massive introduction to the masses.
Yup I am totally excited about it! I hate being excluded lol
seems like a bunch of people here on steemit from Florida!
@bitcoinflood nice post about cryptocurrency bitcoin.i like it. @fastpromoter new on steem.
Well this is good @bitcoinflood and very informative.
Hope it will very helpful for all steemit members
Great post.
I wrote a post just yesterday about how Robinhood expanded free crypto-trading into Florida.
Robinhood also now trades Ethereum.
I joined Robinhood yesterday after researching my post. Registration took about 30 seconds.
It's almost too good to be true!
zero fee sounds really good deal! Anything less expense equals more potential profit ^_^
I think they will be more relevant when they add more cryptos. Great info!
When will Robinhood become available in Africa?
A lot of help for me in the post. I got a good idea from here. Thank you
I think translation of coinbase is more , so if Robbinhood is expanding and transactions free, we will be benefited from it, then we should use it.
owao thanks for your post its very helpfull to me. good job
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when will it become available global? im from philippines and i want to try trading there.
Wowo great article thank you
https://steemit.com/free/@sharedrops/sharedrops-share-round-5-project-updates-and-more-airdrops
Love trading? Full into cryptoworld?
So, you should start use TradeCheck - best software for traders ever!
Description, support and download mirror there: cryptofications.com
@dionesarit you're on the @abusereports naughty list!
If you do not stop, your account will be rendered invisible on Steemit. Bad Steemian! Bad!
Hi, I just voted you! There are new topics that you might like, the rise of BTc as imminent criterion.
https://steemit.com/bitcoin/@james0603/charlie-shrem-founder-of-the-bitcoin-foundation
Thank you again lol