When it comes to Bitcoin wallets, there are a lot of options to choose from. But if you’re looking for a simple, easy-to-use option, Robinhood might be the wallet for you.
Robinhood is a popular stock trading app that recently added cryptocurrency trading to its platform. And whileRobinhood is not a dedicated Bitcoin wallet, it’s a safe and convenient way to store your coins.
Here’s what you need to know about Robinhood and its safety features.
What is Robinhood?
Robinhood is an investing app that allows users to buy and sell stocks, ETFs, options, and now cryptocurrencies. The app is popular with young investors and has been praised for its simple and intuitive design.
While Robinhood started out as a stock trading platform, the company has recently expanded into cryptocurrency. In January 2018, Robinhood added Bitcoin and Ethereum trading to its platform.
And in February 2018, the company announced that it would offer cryptocurrency trading in all 50 US states.
How Does Robinhood Work?
Robinhood is designed to be a simple and easy-to-use platform for buying and selling assets. The app has a clean interface and offers features like real-time market data and price alerts.
To buy or sell an asset on Robinhood, you simply enter the amount you want to trade and hit the “buy” or “sell” button. Your order will then be executed at the current market price.
One of the most unique features of Robinhood is that it offers commission-free trading. This means that you can buy and sell assets without having to pay any fees.
This is different from most other brokerages, which typically charge a commission for each trade.
Is Robinhood Safe?
When it comes to safety, Robinhood is a reliable option. The company is registered with the US Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA).
This means that Robinhood is subject to strict financial regulations.