Robinhood Expands Their Crypto Platform to Include More Altcoins

 In Market News
Robinhood Expands Their Crypto Platform to Include More Altcoins

Robinhood Expands Their Crypto Platform to Include More Altcoins

Robinhood, a United States zero-fee trading company has listed Dogecoin on their own Robinhood Cryptocurrency Trading Platform.

Dogecoin is a P2P altcoin that was initially created as a joke or a parody. It was created in late 2013 and today has a market capitalization of 330 million dollars. Dogecoin is only one of several different altcoins that were added to the platform in the last 7 days. The current list includes Litecoin, Bitcoin Cash and Ethereum.  

Dogecoin has zero limit on the amount of coins that can be mined into existence and today has over one hundred and fifteen billion coins in circulation. Towards the end of last year, the alcoin reach a market capitalization of 1 billions dollars. Robinhood’s crypto platform is currently only available in 17 states and supports 5 different cryptocurrencies.

Bloomberg also reported that Robinhood is in the middle of talks with the OCC in order to qualify for a banking license. It is our estimation that Robinhood would like to provide more financial services and therefore compete with traditional bankings.

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