Robinhood announces zero commission crypto trading

Online brokerage platform Robinhood is getting into crypto with zero-commission trading in February
26 January 2018   1648

Robinhood plans to extend its services to crypto trading. The platform is already quite popular with younger audience, the median user age is somewhere around 26 and total user base already exceeds 3 million people. The move may be ambitious, but it's logical, considering the target audience.

The Robinhood Crypto will operate on break-even basis, with developers not planning to profit from it for the foreseeable future. In perspective it will allow the project to rake up the audience and even lure the people away from other exchanges, who take unjustified fees. Also, there will be no minimum purchase amount, which will also increase the popularity.

Vlad Tenev and Baiju Bhatt, co-founders of Robinhood, also said, that the company will obtain large amounts of cryptocurrencies for trading through partnership with several larger institutions and that the purchase fees will be incorporated into large-volume discounted contracts and not passed down to the users.

The Robinhood Crypto will start up in February in the US, where they acquired the regulatory approval to start trading operations. Already the users can set up alerts for Bitcoin, Ethereum, Litecoin, XRP, NEO and 11 other altcoins to monitor prices.  

Argo to Report on Mining Profitability Increase in Q2

It was also reported that by the end of June, company owns about £ 3 million in crypto assets, which is 7.7% higher than expected
03 July 2019   239

The British mining company Argo Blockchain published a financial report for the second quarter of 2019, according to which its revenues increased significantly in the second quarter, exceeding its own expectations.

So, in comparison with the previous report, published in early June, the income from mining Argo Blockchain increased by 24%. The increase in profitability from mining at the same time turned out to be proportional to the increase in the Bitcoin price observed during the recent period.

The Company now expects to generate 161 BTC, or GBP1.38m of cryptoassets, in June based on a BTC price of $10,817.16 USD as of 30 June 2019. This is an increase of approximately 101% from the Company's May mining results and represents a mining margin of roughly 81%. The Company considers that this demonstrates that the Company is one of the most efficient miners in the market.
 

Argo Blockchain Team

Argo Blockchain also said that as of the end of June, the company owns about £ 3 million in cryptocurrency assets, which is 7.7% higher than expected.

Also Argo Blockchain intends to expand its activities. In particular, the company plans to deploy another 2500 miners in Quebec by the end of the third quarter, which is also expected to significantly increase revenues.

Our better-than-expected mining performance reflects both improving industry conditions as well as Argo's business strategy, which has enabled it to rapidly ramp up operations and thereby take full advantage of the upturn. As a result, we enter the third quarter with a strong momentum to deliver further growth and improving mining efficiency.
 

Mike Edwards

Executive chairman, Argo

It should be noted Argo Blockchain was the first cryptocurrency company, the placement of shares of which was approved by the London Stock Exchange last June.