Cryptocurrencies
Robinhood Opens Cryptocurrency Trading
- Users in select states can now trade Bitcoin and Ethereum
- Robinhood competing with fellow fintech startup Coinbase
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More than 4 million people have signed up to open accounts at Robinhood Markets Inc. as the brokerage app begins offering commission-free trading of Bitcoin and Ethereum today for the first time.
The Palo Alto, California-based firm, which first gained traction by offering a free stock-trading app, said last month that it was getting into digital assets. Trading in the two largest cryptocurrencies is available to users in California, Massachusetts, Missouri, Montana and New Hampshire. The startup aims offer the service in most U.S. states by midyear.