Robinhood, the trading app adds two new cryptocurrencies

Karan Balwani

July 13, 2018 11:01 am

Cryptocurrency news

Robinhood, the trading app adds two new cryptocurrencies
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Despite the recent slowdown faced by the cryptocurrency market, Robinhood has added Bitcoin Cash and Litecoin to its portfolio.

The cryptocurrency market has faced severe crashes in recent times, Litecoin dropped by more than 64% to $77 while Bitcoin cash experienced a 72% dip, to $682 since the beginning of 2018. The most significant drop was observed in Bitcoin, the currency which once crossed the $20,000 mark, dropped down to $6,180. 

Robinhood is a stock trading app which offers no-fee transactions. The company claimed that it has already acquired over 5 million users on its platform, the introduction of Options and Crypto played a significant role in achieving this milestone. Note that Robinhood added cryptocurrencies to their portfolio back in February.

A blog post by Robinhood explained the reason for this move – “Since we launched Robinhood Crypto in February, our customers have voiced interest in buying and selling other cryptocurrencies beyond Bitcoin and Ethereum.” 

Although the price drop has raised concerns over the future of cryptocurrencies; However the continued investor support and public interest make cryptocurrencies a compelling prospect.

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