Robinhood adds Ethereum Classic

This article was published on: 08/7/18 6:36 PM

Marcin IwańskiWritten by | cryptocurrency, news

Robinhood adds Ethereum Classic

According to the official announcement, Robinhood, a US financial services company, allowed customers to invest in Ethereum Classic (ETC).

The Robinhood application announced its sixth crypto available, which had a positive impact on the price of the cryptocurrency. After Robinhood had announced the implementation of ETC, its price increased. American investors can now store and trade with six cryptocurrencies in the application:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Dogecoin (DOGE)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Ethereum Classic (ETC)

In late June, Robinhood was rumored to be considering the launch of their own cryptocurrency wallet after posting a job listing for crypto engineers. Now they’re adding more cryptocurrencies to their platform.

The Robinhood platform was launched in February this year, with the support of Bitcoin (BTC) and Ethereum (ETH).

Initially they wanted to operate without fee and did not have “a plan to profit from it for the foreseeable future,” giving priority to expanding its customer base instead.

In May, Robinhood raised $363 million and expanded its business, tо а price of  $5.6 billion.

The Robinhood application was launched in four US states, and today, according to the announcement, it is used in 19 states. Robinhood’s decision to implement the Ethereum Classic was made in same time as Coinbase’s. This cryptocurrency exchange platform from the United States is the main rival of Robinhood. Although Coinbase was the first to announce that it planned to add support to ETC, Robinhood implemented it much faster.

The final ETC tests on Coinbase are currently carried out before ETC being added to the platform.

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Last modified: August 7, 2018

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