As of late, there has been much speculation surrounding the popular investing app, Robinhood, and whether or not they are working on a Bitcoin wallet. While the company has yet to make any official announcements, there are a few key pieces of evidence that suggest they may be venturing into the cryptocurrency space.
In December of 2017, Robinhood added two new members to their team with expertise in cryptocurrency and blockchain technology. This was followed by a job listing in January of 2018 for a Senior Software Engineer with experience in building cryptocurrency wallets.
NOTE: This warning note is to inform you that there is currently no evidence that Robinhood is working on a Bitcoin wallet. There have been numerous reports of companies claiming to be associated with Robinhood and offering their own Bitcoin wallets, but these claims have not been officially verified by Robinhood and should be treated with caution. Before investing in any cryptocurrency, it is important to always do your own research and make sure you understand the risks associated with it.
Then, in February of 2018, Robinhood received a Series B funding round led by Google Ventures, which included investments from other major firms such as Andreessen Horowitz, Sequoia Capital, and DST Global. This $363 million investment brought the company’s total valuation to $5.
6 billion.
While all of this is certainly circumstantial evidence, it does suggest that Robinhood may be working on some sort of cryptocurrency offering behind the scenes. Only time will tell if this comes to fruition, but it would certainly be a major development in the world of crypto if it does.
4 Related Question Answers Found
If you’re like most people, you probably think that buying Bitcoin on Robinhood is a simple and straightforward process. After all, the popular investing app is known for its user-friendly interface and easy-to-use features. However, there’s a lot more to buying Bitcoin on Robinhood than meets the eye.
Since Robinhood’s launch in 2013, the investing app has been a go-to for stock trading. But in 2018, the company added cryptocurrency to its offerings, and now allows users to buy Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and other digital assets on its platform. The move was a big win for crypto adoption, as Robinhood has millions of users and is one of the most popular investing apps.
Robinhood is a commission-free stockbroker that offers investors the ability to trade stocks, options, ETFs, and cryptocurrency without paying any commissions or fees. This makes it an attractive option for those looking to invest in cryptocurrency, as there are no fees to buy or sell Bitcoin on Robinhood. However, there are some things to consider before investing in cryptocurrency on Robinhood.
As of February 2018, Robinhood offers cryptocurrency trading in the following states: California, Massachusetts, Missouri, Montana, and New Hampshire. The company plans to offer services in more states soon. Robinhood is a mobile app that allows users to buy and sell stocks, ETFs, options, and cryptocurrencies with zero commission fees.
