Today, users who pre-registered for Robinhood Crypto started receiving emails with invitations to participate in the trading of cryptocurrencies, stocks, and exchange-traded funds (ETFs) side-by-side on a single platform.
According to the company’s statement, the service will be available to users from California, Massachusetts, Missouri, Montana, and New Hampshire, though the company intends to expand into other states as it acquires more money transfer licenses, which are granted at the state level.
Over the past few weeks, we’ve been overwhelmed by the enthusiasm towards Robinhood Crypto and are excited to contribute to the cryptocurrency community in a meaningful way. With the release of Robinhood Crypto, we’re continuing our mission of making the financial system work for everyone, not just the wealthy.
The platform achieved 1 million pre-registrations for less than one week. Currently, it has 4 million users, who collectively have achieved more than $100 billion in transaction volume.
Robinhood Crypto supports Bitcoin and Ethereum trading, although users can monitor and track market data for 16 cryptocurrencies, indicating that the company intends to expand it crypto asset offerings in the future.
Robinhood will not charge commission on crypto trading, though prices will include trading fees charged by the underlying exchanges.