Mobile app Robinhood begins cryptocurrency trading in five US States

Mobile apps for stock trading Robinhood is officially launched cryptocurrency trading by making a new service available to residents in five U.S. States.

The company says that the residents of California, Massachusetts, Missouri, Montana and new Hampshire can now buy or sell bitcoin and live with the new platform Robinhood Crypto. The service also will allow investors to track the 14 other cryptocurrencies, including BCH, LTC, XRP, ETC, ZEC, XMR, BTG and DOGE.

For the first time about his plans for the company said last month, noting that the purpose of this step is to make cryptocurrency accessible to a wide range of investors using the platform that «democratizare» trade by expanding the pool of possible investors by means of mobile and web applications.

According to the company website, it makes the trade traditional assets and cryptocurrencies more accessible, offering its clients a «zero Commission for trading operations.» In a statement the company provided the following information:

«In total, we covered 4 million users and carried out transactions for more than $ 100 billion on our brokerage platform, which resulted in savings of more than $ 1 billion in commissions when trading ordinary shares. With the release of Robinhood Crypto we continue to fulfill our mission, making the financial system work for all and not just for the rich.»

In addition to Robinhood Crypto company also announced the launch of the Robinhood Feed — social network which will allow investors to discuss various crypto-currencies, industry news and the state of markets in real time. The Feed platform is currently only available to a limited number of users.

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