Robinhood Begins No-Fee Bitcoin and ETH Trading In Five Statesbr>
The Robinhood mobile trading app has begun its plan to allow no-fee trading of bitcoin and ethereum trading for its first users of the Robinhood Crypto platform.
Customers in California, Massachusetts, Missouri, Montana, and New Hampshire are allowed to begin commission-free trading. The company claimed it planned to roll out other states, but was not revealing when or which states.
Robinhood’s customer acquisition mode is part of its plan to operate as a break-even business for some time. It claimed on its blog post that it already has more than four million customers doing more than $100 billion in transaction volume, representing one billion saved in fees.
The company has also launched a community feature that allows discussion on trading strategies.