The Robinhood Crypto app now supports bitcoin cash (BCH) and litecoin (LTC) trading. Thanks to adding the cryptocurrency service, the app has achieved rapid growth and is now boasting a user base of 5 million people, up from just 3 million before.
Robinhood Financial LLC, the Palo Alto-headquartered US stocks brokerage app, has announced today that it added support for trading two new cryptocurrencies to its trading app. bitcoin cash (BCH) and litecoin (LTC), which were previously just tracked. The two cryptocurrencies are now available for live trading on Robinhood Crypto alongside the previous two options, BTC and ETH.
The company stated that: “Since we launched Robinhood Crypto in February, our customers have voiced interest in buying and selling other cryptocurrencies beyond Bitcoin and Ethereum. We’re happy to share that starting today, you can buy and sell Litecoin and Bitcoin Cash, commission-free.”
From Three to Five Million Users
Robinhood Crypto is currently available in seventeen states: AZ, CA, CO, FL, IN, MA, MI, MS, MO, MT, NJ, NM, PA, TX, UT, VA, and WI. And the company revealed that it plans to further expand its cryptocurrency offerings and also add support for coin transfers. Besides the four coins that the company’s cryptocurrency trading service now supports, Robinhood also offers market data on a total of sixteen cryptocurrencies including bitcoin core, ethereum, bitcoin cash, litecoin, ripple, ethereum classic, zcash, monero, dash, stellar, qtum, bitcoin gold, omisego, neo, lisk, and dogecoin.
The addition of Crypto seems to have really paid off for the company in terms of growth. Before it’s digital currency services were announced in January, Robinhood had an estimated user base of only about 3 million people and now it gained 2 million more. The company said: “Thank you for all of your enthusiasm and product feedback, especially over the past several months. Together, we’ve reached over 5 million people across the entire Robinhood platform, and we look forward to sharing Robinhood with millions more so everyone can participate in the financial system.”
Images courtesy of Shutterstock, Robinhood.
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