Robinhood’s Crypto Trading Platform Expands to Wisconsin and New Mexico

Robinhood, the much-hyped, no-fee stock brokerage, and trading app, has reportedly expanded its crypto Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term to two new states: New Mexico and Wisconsin. Users in a total of eight states can now trade cryptocurrency on the app.

Given the populations of the two states, their addition means that approximately 8 million Americans will now have the ability to trade crypto on Robinhood for the first time. In April, Robinhood added Colorado to its roster; upon its launch in February, the crypto trading platform was open to California, Massachusetts, Missouri, Montana, and New Hampshire.

Robinhood Crypto is bringing you a new kind of cheddar! Commission-free Bitcoin and Ethereum trading is now rolled out and available to investors in Wisconsin. pic.twitter.com/6llxdYDEwG

— Robinhood (@RobinhoodApp) May 3, 2018

Robinhood is Valued Around $5.6 Billion

On Friday, the team behind the app publicly announced that they were “working through regulatory processes to bring Robinhood Crypto trading to more states.”

We’re working through regulatory processes to bring Robinhood Crypto trading to more states. Check @RobinhoodApp for updates, or learn more here: https://t.co/XUwMuHirH3 pic.twitter.com/UjzYtDE4Qm

— Robinhood Support (@AskRobinhood) May 4, 2018

Robinhood currently offers the trading of Bitcoin and Ethereum and provides market data on a total of sixteen Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. Bitcoin.com reported that the company is also working on the development of ‘Robinhood Feed’, a discussion platform for investors using the app.

Robinhood has been the subject of much hype and conversation since its launch earlier this year. CNBC reported in March that the company was worth more than $5.6 billion after a group of investors led by Russian firm DST Global were working on injecting $350 million into the company.

”Cheap, Intuitive, and Mobile”

The company originally launched its fee-free stock trading app roughly three years ago and has become particularly popular with millennials. The app is renowned for having a user-friendly UI, something relatively new to the world of investing. Robinhood even went so far as to win an Apple Design Award because of its easy-to-use, eye-catching design.

As Business Insider reported, Robinhood has managed to make trading “cheap, intuitive, and mobile.” Currently, the app boasts around 4 million users between its stock brokerage and cryptocurrency platforms combined. The app is still well behind Coinbase, which was reported to have 10 million users in the month of March.