Commission-free investing app Robinhood today announced the official launch of its much-anticipated cryptocurrency feature, allowing US customers to explore Bitcoin and Ethereum ‎trading alongside traditional investment products.‎

Discover credible partners and premium clients at China’s leading finance event!

The free stock-trading app joins a short list of US-based brokers that ‎offer cryptocurrency trading products. There will be a waiting list, and Robinhood ‎will onboard customers at a rate at ‎which it ‎can support them. ‎

The company initially launched two crypto trading pairs for ‎residents in five states – California, Massachusetts, Missouri, ‎Montana and New Hampshire.‎ By mid-2018, the trading app will make the new instruments available ‎nationwide, with its newly created unit Robinhood Crypto planning to ‎roll out the service gradually as other US states will be following in ‎waves.‎

In a further move to enhance the offering, the company has launched Robinhood Feed, which allows all users to track market data, news, and create price alerts for 16 Cryptocurrencies .

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 is able to float its free platform through compromises such as not having many physical locations, maintaining only a small staff ‎for client service, and not spending on massive promotional campaigns. ‎

Announcing the official launch, ‎the company said in a statement: “Over the past few weeks, we’ve been overwhelmed by the enthusiasm towards Robinhood Crypto and are excited to contribute to the cryptocurrency community in a meaningful way. Together, we reached four million users and well over $100 billion in transaction volume on our brokerage platform, leading to over $1 billion in commissions saved in equity trades. With the release of Robinhood Crypto, we’re continuing our mission of making the financial system work for everyone, not just the wealthy.”

Commission-free investing app Robinhood today announced the official launch of its much-anticipated cryptocurrency feature, allowing US customers to explore Bitcoin and Ethereum ‎trading alongside traditional investment products.‎

Discover credible partners and premium clients at China’s leading finance event!

The free stock-trading app joins a short list of US-based brokers that ‎offer cryptocurrency trading products. There will be a waiting list, and Robinhood ‎will onboard customers at a rate at ‎which it ‎can support them. ‎

The company initially launched two crypto trading pairs for ‎residents in five states – California, Massachusetts, Missouri, ‎Montana and New Hampshire.‎ By mid-2018, the trading app will make the new instruments available ‎nationwide, with its newly created unit Robinhood Crypto planning to ‎roll out the service gradually as other US states will be following in ‎waves.‎

In a further move to enhance the offering, the company has launched Robinhood Feed, which allows all users to track market data, news, and create price alerts for 16 Cryptocurrencies .

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 is able to float its free platform through compromises such as not having many physical locations, maintaining only a small staff ‎for client service, and not spending on massive promotional campaigns. ‎

Announcing the official launch, ‎the company said in a statement: “Over the past few weeks, we’ve been overwhelmed by the enthusiasm towards Robinhood Crypto and are excited to contribute to the cryptocurrency community in a meaningful way. Together, we reached four million users and well over $100 billion in transaction volume on our brokerage platform, leading to over $1 billion in commissions saved in equity trades. With the release of Robinhood Crypto, we’re continuing our mission of making the financial system work for everyone, not just the wealthy.”