What ?

Robinhood, a well-known stockbroker platform, has stepped into the cryptocurrency market. They are doing so, with a bang, Robinhood is offering ZERO fees in cryptocurrency, something that is unheard of until now. Robinhood is offering zero fees for deposits, withdrawals, and trades on Bitcoin and Ethereum.

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Really ?

Of course with all good things, there is always a catch of some sort.

1 . Limited to five states (for now, but future expansion is planned) California, Massachusetts, Missouri, Montana, and New Hampshire.

2 . There is an absolutely no way around Bitcoin fees when buying, there will always be a network fee. What Robinhood is doing is not charging people like all other platforms, other platforms have fees for every aspect. Fees for depositing, fees for withdrawing, fees for trading, Robinhood has none of these fees, you only pay the already existing unavoidable network fees.

3 . There is also a "line" for the Robinhood cryptocurrency trading platform as of now, not everyone gets access at once, if you haven't already signed up, you will be waiting a while before getting to trade on the platform. But its well worth the wait, who doesn't like zero fees.

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Why ?

Robinhood implemented zero trading fees, to draw people to the platform. Offering zero fees in cryptocurrency is unheard of, in turning offering zero fees will indefinitely draw people into the platform and grab media attention. Robinhood has already taken this approach in stock, offering zero fees for buying and selling stocks, which was the original business plan of Robinhood, zero fees.

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Check Them Out

Feel free to check Robinhood out, its a good platform for investing in stocks and now cryptocurrency. Robinhood offers zero fees for both stock and cryptocurrency. It should be noted that Robinhood is only available as an app, so you need an Android or IOS device to use Robinhood. But how they offer zero fees and somehow are still a sustainable business, beats me but all I know is it works.
https://www.robinhood.com/