Crypto Trading App Robinhood Adds Litecoin And Bitcoin Cashbr>
Commission-free investing app Robinhood has added support for Litecoin and Bitcoin Cash on its platform. The latest addition expands the total number of cryptocurrencies available on the platform to four.
The Robinhood platform enables its customers to buy and sell US listed stocks and exchange-traded funds (ETF) with zero commission. In February of this year, the company introduced crypto trading on its platform, allowing retail investors across 17 US states to trade bitcoin and ethereum with no fees.
“Since we launched Robinhood Crypto in February, our customers have voiced interest in buying and selling other cryptocurrencies beyond bitcoin and ethereum,” the company said. “We’re happy to share that starting today, you can buy and sell Litecoin and Bitcoin Cash, commission-free.”
Robinhood said that they also plan to further expand their coin offerings and add support for coin transfers. While the app currently only supports four cryptos, it can monitor market data, read cryptocurrency news, and create price alerts for 16 coins, including bitcoin, ethereum, Litecoin, Bitcoin Cash, Ripple, Ethereum Classic, Zcash, Monero, Dash, Stellar, Qtum, Bitcoin Gold, OmiseGo, NEO, Lisk, and Dogecoin.
In May of this year, Robinhood raised its latest round of funding, bringing in $363 million at a $5.6 billion valuation. At the time, the company said the funding would allow them to offer more crypto trading pairs in more markets in the US.
“We expect by the end of the year to be either the largest or one of the largest crypto platforms out there,” Robinhood co-founder and co-CEO Baiju Bhatt said at the time. “But we also really feel we’ll have the absolute best experience for investing in crypto as well—from having a large variety of coins available to a more favorable cost structure—mainly no commissions—to just quality of product.”