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Robinhood Customers in New York Can Now Trade Bitcoin

Posted on: May 23rd, 2019 by jms No Comments

 

If you were like me and you got excited about the prospect of trading cryptocurrencies without paying commissions, you would have signed up for early access when Robinhood announced they’d be offering it soon. If you did sign up in time then today you would have received an email with the subject “Your invite for Robinhood Crypto is here!”.

 

Bitcoin and Ethereum trading is now open to New Yorkers on the Robinhood platform. It seems like this is a pilot launch for early joiners, but I expect it to be open to all New Yorkers soon, if it’s not already.

 

 


 

 

Even more newsworthy in my opinion…

 

As part of their announcement to offer commission free cryptocurrency trading, Robinhood also mentioned their new Feed, simply named “Robinhood Feed”.

 

A quote from their blog…

 

“With today’s trading launch, we’re also announcing Robinhood Feed – a brand new way to discuss cryptocurrencies, news, and market swings, in real-time with other investors on Robinhood. Feed is available to a limited number of people on the platform and will evolve based on your, well, feedback.”

 

Robinhood is a great platform for investing, especially if you want to limit your fees. However, it’s been pointed out time after time that Robinhood lacks good research tools and a few other fundamentals. This new Feed option is certainly a start to offering better options for research and discovery of new trends in the market.

 

This sounds like another pilot program, but I for one am keeping my ear to the ground about this one. I’ve always been of the opinion that the market research tools offered by other platforms are highly overrated. I like to pretend I know a thing or two about investing, but I don’t, not really. At least not compared to the investors I admire most. Investors like Ray Dalio, Warren Buffett, and Benjamin Graham. All the research tools in the world only really serve to mask my own inexperience, and I imagine this is true for most of us. So for a casual investor like myself, Robinhood is great.

 

That’s not to say research isn’t extremely important. With the new Robinhod Feed I’ll be able to follow real-time market trends as they happen. When it comes to cryptocurrencies, this is important because they are so volatile now. It’s really not to difficult to make some extra spending cash trading cryptocurrencies these days… IF you follow the trends. I’ve even built tools for myself to help visualize trends and find good buy/sell points that I’ll be rolling out in the Coin Access app soon. I’m hoping to leverage the Robinhood Feed for this purpose too, when it’s fully rolled out.

 

 

References:

 

Robinhood Crypto Trading Is Here, Robinhood Blog, 22th of May 2019,
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