2 years ago
The retail trading steadfast announced connected Twitter it present lets each users transportation bitcoin and cryptocurrencies successful and retired of its platform.
Retail trading app Robinhood has enabled bitcoin transfers successful and retired of its app for each users, the company’s Twitter relationship announced Thursday.
“Crypto transfers are here,” the tweet read. “You tin present nonstop and person each listed crypto assets connected Robinhood.”
The tweet featured a video successful which the institution announced it won’t complaint fees for bitcoin transfers retired of its platform.
Robinhood’s past with Bitcoin and cryptocurrencies isn’t new. The fiscal services company, which appeals chiefly to retail investors and popularized the commission-free banal trading model, began dipping its toes into the assemblage successful 2018 aft it announced the imminent motorboat of its cryptocurrency-focused subsidiary, Robinhood Crypto.
Since then, the app that brings low-cost trading to investors’ fingertips has grown immensely successful popularity among the cryptocurrency crowd. However, the steadfast had been a halfway for disapproval among Bitcoin users for not allowing customers to retreat their purchased coins to self-custody wallets – thing it is present trying to enactment to rest.
The steadfast started investigating its bitcoin withdrawal diagnostic in September 2021, and successful nether 2 months 1.6 cardinal users were connected the waitlist to entree the functionality. It archetypal began rolling retired bitcoin withdrawals successful January 2022.
Now, by enabling the diagnostic to each users, Robinhood aims to cement its presumption successful the cryptocurrency trading abstraction portion it eyes marketplace stock of competing brokers specified arsenic Block’s Cash App, which has allowed withdrawals for years. But portion Cash App already supports the Lightning Network, Robinhood’s plans to integrate Bitcoin’s second-layer network, sketched retired successful April astatine Bitcoin 2022, person yet to travel to fruition.
Broadly, cryptocurrency brokers are racing to bottommost successful the interest contention to pull users and promote ever much level enactment – each successful the midst of a wide cryptocurrency winter.
Last month, Binance.US, the U.S. subsidiary of the world’s largest cryptocurrency exchange, cut its bitcoin trading interest to zero. On Wednesday, Binance announced it would extend that offering globally successful commemoration of its 5th day – an adjacent stronger propulsion by the steadfast led by Chinese billionaire Changpeng Zhao.
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