It’s been a big week for Coinbase. The popular cryptocurrency exchange made its public debut on the NAsdaq stock exchange Wednesday, April 14.
The highly anticipated move sent Coinbase shares soaring, with the stock closing its first day of trading at $381.54, up nearly 30% from its reference price of $250.
The listing makes Coinbase the first major cryptocurrency exchange to go public in the U.S.
and is seen as a major milestone for the wider adoption of digital assets.
Now, investors are wondering if they’ll be able to buy Coinbase stock on Robinhood, the commission-free investing app that has helped popularize trading among younger investors.
NOTE: WARNING: Investing in cryptocurrencies such as Bitcoin involves significant risk and may not be suitable for all investors. Before investing, consider your investment objectives, experience level, and risk tolerance. The price of digital assets is highly volatile and can increase or decrease significantly within a short period of time. It is important to research thoroughly before investing in any cryptocurrency, and to be aware that the availability of Coinbase stock on Robinhood does not guarantee returns or eliminate the risk associated with investing in cryptocurrencies.
Unfortunately, it doesn’t look like Robinhood will be offering Coinbase stock anytime soon. In a blog post published Wednesday, April 14, Robinhood said it had no plans to add any new coins or tokens to its platform in the near future.
“We’re focused on building the best experience for our customers and we don’t have any immediate plans to add new coins or tokens,” Robinhood said in the post.
While Robinhood didn’t mention Coinbase by name, the timing of the announcement suggests that the decision was likely made in response to the exchange’s highly anticipated public debut.
That’s not to say that Robinhood will never offer Coinbase stock. The company has been known to change its mind on occasion, so there’s always a possibility that it could add support for the stock down the line.
For now, though, it looks like Robinhood users will have to look elsewhere if they want to trade Coinbase shares.
4 Related Question Answers Found
As of now, Coinbase is not listed on Robinhood. However, this could change in the future as the two companies have been working together closely lately. Coinbase has been one of the most popular cryptocurrency exchanges in recent years.
As of now, you cannot buy Coinbase stock on Robinhood. This is because Coinbase is not yet a publicly traded company. In order for you to be able to buy Coinbase stock on Robinhood, Coinbase would need to file for an initial public offering (IPO).
As of now, there is no way to transfer from Coinbase to Robinhood. This is because Robinhood only supports trading, and not storage, of cryptocurrencies. So if you want to transfer your cryptocurrencies from Coinbase to Robinhood, you would need to first sell your cryptocurrencies on Coinbase, and then buy them again on Robinhood.
As the race to adopt crypto assets by traditional finance institutions continues, Flare Networks has positioned itself as a potential leader in the industry by partnering with Ripple. The Flare Network is a decentralized platform that uses the Ethereum blockchain and XRP ledger to offer smart contracts with the security of proof-of-stake. This week, it was announced that Coinbase Custody will be adding support for the Spark token, which is the native token of the Flare Network.
