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On the latest trend of interest in cryptocurrencies, over one million people have joined the waitlist for Robinhood Crypto within a period of four days.
Robinhood, a no-fee stock trading app, announced on 25th January 2018 it was rolling out commission-free trading in digital currencies Bitcoin and Ethereum beginning in February 2018. Although the service will initially only be available in just five states, on the day after the announcement hundreds of thousands from the community had indicated they wanted to be notified about “early access” to trading of Robinhood cryptocurrency.
Hype of Robinhood Crypto
On 29th January, after the span of 4 days the number of interested people had more than doubled to one million. If all those sign-ups become Robinhood Crypto customers, that will mark an increase of more than 30 percent to Robinhood’s overall user base which is over 3 million.
Tom Lehrkinder, senior analyst at consulting firm Tabb Group commented on the hype;
Despite the downturn in price and the fraud in Japan, the interest in the cryptospace remains very high… More and more [futures commission merchants] are starting to execute and settle the bitcoin futures contracts.
Bart Stephens, the Blockchain Capital co-founder believes this proves of a generational interest in cryptocurrencies. And Robinhood said 78 percent of its users fall into that younger age category of 18 to 35.
Stephen mentioned Coinbase issues as well that could affect Robinhood;
What Robinhood’s going to find quickly is they’re going to jump right into the same growing pains that Coinbase has.
While the cryptocurrency exchange reportedly took in more than 1 billion USD in revenue last year, the company struggled to handle high demand and trading was sometimes unavailable. Coinbase said in a statement it would not comment on the accuracy of the figures.
Robinhood co-founder Vlad Tenev is confident the start-up can handle customer demand. Cryptocurrency trading will also initially be rolled out in just the five states of California, Massachusetts, Missouri, Montana and New Hampshire in the United States.
Stephens see an opportunity in all of this;
I think we’re going to be seeing more and more of these on-ramps. I think this is the beginning of a huge wave embracing this asset class.
Robinhood, a no-fee stock trading app, announced on 25th January 2018 it was rolling out commission-free trading in digital currencies Bitcoin and Ethereum beginning in February 2018. Although the service will initially only be available in just five states, on the day after the announcement hundreds of thousands from the community had indicated they wanted to be notified about “early access” to trading of Robinhood cryptocurrency.
Hype of Robinhood Crypto
On 29th January, after the span of 4 days the number of interested people had more than doubled to one million. If all those sign-ups become Robinhood Crypto customers, that will mark an increase of more than 30 percent to Robinhood’s overall user base which is over 3 million.
Tom Lehrkinder, senior analyst at consulting firm Tabb Group commented on the hype;
Despite the downturn in price and the fraud in Japan, the interest in the cryptospace remains very high… More and more [futures commission merchants] are starting to execute and settle the bitcoin futures contracts.
Bart Stephens, the Blockchain Capital co-founder believes this proves of a generational interest in cryptocurrencies. And Robinhood said 78 percent of its users fall into that younger age category of 18 to 35.
Stephen mentioned Coinbase issues as well that could affect Robinhood;
What Robinhood’s going to find quickly is they’re going to jump right into the same growing pains that Coinbase has.
While the cryptocurrency exchange reportedly took in more than 1 billion USD in revenue last year, the company struggled to handle high demand and trading was sometimes unavailable. Coinbase said in a statement it would not comment on the accuracy of the figures.
Robinhood co-founder Vlad Tenev is confident the start-up can handle customer demand. Cryptocurrency trading will also initially be rolled out in just the five states of California, Massachusetts, Missouri, Montana and New Hampshire in the United States.
Stephens see an opportunity in all of this;
I think we’re going to be seeing more and more of these on-ramps. I think this is the beginning of a huge wave embracing this asset class.