Robinhood users can now transfer Bitcoins
The retail company announced on Twitter that it currently allows all users to transfer bitcoin and cryptocurrencies in and out of the platform. The retail app Robinhood has enabled bitcoin transfers in and out of its app for all users, the company’s Twitter account announced on Thursday. Crypto transfers are where the tweet is read. You will now send and receive all listed cryptocurrencies on Robinhood. The tweet contained a video in which the company announced that it will not charge fees for bitcoin transfers from the platform.
Robinhood’s story with the flagship crypt
Robinhood’s history of Bitcoin and cryptocurrencies is not new. The monetary service company, which mainly appeals to retail investors and popularized the commission-free stock trading model, began to dip its toes into the arena in 2018 when it announced the upcoming launch of the cryptocurrency-focused subsidiary Robinhood Crypto.
Since then, the app that brings cheap trading to investors’ fingertips has grown enormously in quality among the cryptocurrency audience. However, the company had been in the midst of criticism among Bitcoin users for not allowing customers to withdraw their purchased coins for self-managing wallets – one thing it is currently trying to rest on.
The company began testing its bitcoin withdrawal feature in September 2021, and in less than 2 months, 1.6 million users were on the waiting list to access the functionality. The initials began rolling out bitcoin withdrawals in January 2022.
The crypto platform aims to cement its position
Now, by sanctioning the feature to some or all users, Robinhood aims to cement its position in the cryptocurrency trading area, while seeing market shares of competing brokers love Blocks money app, which has allowed withdrawals for years. But while the money app already supports the Lightning Network, Robinhood’s plans to integrate Bitcoin’s second tier network, outlined in the Gregorian calendar month on Bitcoin 2022, still have to come back to fruition.
By and large, cryptocurrency brokers are athletics at the lowest end of the cost competition to attract users and encourage more and more platform activity, to beat the thick part of a widespread cryptocurrency winter. Last month, Binance.US, the US subsidiary of the world’s largest cryptocurrency exchange, cut its bitcoin trading fee to zero. On Wednesday, Binance proclaimed that it would expand this gift globally to commemorate its fifth day, a rather stronger blow from the regular crystal liqueur of the Chinese wealthy person Changpeng Zhao.
