Robinhood Crypto, the much-hyped crypto trading exchange from Robinhood, has announced support for Bitcoin Cash (BCH), in a move that is being welcomed by the cryptocurrency community.
The California-based financial services company, which offers a suite of retail financial products online, added BCH along with Litecoin, as part of second wave of expansion since the service launched back in February.
The expanded list has now grown to a total of 16 coins, with the platform providing commission-free trading, free market data, pricing alerts and more. Aside from Bitcoin BCH, LTC and SegWit BTC, the Robhinhood Crypto also supports Ethereum, Ethereum Classic, Monero, Zcash, Bitcoin Gold, Dash, Ripple, Stellar, Qtum, NEO, Lisk, Dogecoin and OmiseGo.
In a blog post, the company said the decision to include Bitcoin BCH would allow more people to participate in their product range, noting, “Since we launched Robinhood Crypto in February, our customers have voiced interest in buying and selling other cryptocurrencies beyond [BTC] and Ethereum. We’re happy to share that starting today, you can buy and sell Litecoin and Bitcoin Cash, commission-free.”
— Robinhood (@RobinhoodApp) July 12, 2018
“Thank you for all of your enthusiasm and product feedback, especially over the past several months. Together, we’ve reached over 5 million people across the entire Robinhood platform, and we look forward to sharing Robinhood with millions more so everyone can participate in the financial system,” according to the company.
Founded in 2013, Robinhood is seen as a significant player in the financial services industry, valued at over $1.3 billion in 2017, and $5.6 billion more recently in 2018. The company is currently in talks with regulators over acquiring a banking license in the United States, which would allow the firm to offer a wider range of financial services directly to consumers. Its decision to back Bitcoin BCH is a further vote of confidence in the utility of the BCH blockchain.
It follows as the latest in a series of developments for Bitcoin Cash, just a matter of weeks after the latest upgrade to the blockchain. With a host of new functionality built in to the blockchain, the rate of development for BCH-powered apps has skyrocketed. Similarly, a number of exchanges like Robinhood Crypto have become more proactive in their support for bitcoin, as BCH continues to gain traction over BTC.
If you’re interested in helping the growth of merchant adoption of Bitcoin Cash, join the bComm Association, an industry group that intends to be the focal point for miners, merchants, exchanges, developers and members of the BCH community. Developers and merchants of the Bitcoin BCH community will also be in London for the first CoinGeek Week happening in November. Register here, and be the first to know when tickets go on sale for this historic week.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
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