Investing in cryptocurrency is all the rage lately — so much so that at my family’s Christmas party my aunt started asking me about Bitcoin. Once pretty much exclusively used to make highly questionable purchases on the deep web, cryptocurrency is now evolving into a widely-known (and for some, pretty intriguing) concept, and mobile brokerage app Robinhood has obviously taken note. The company is launching a new section of the app in February that will allow users to trade and track their Bitcoin and Ethereum investments alongside their stocks, ETFs, and options. What’s more, the section — called Robinhood Crypto — lets users do all of this without any additional transaction fees. Oh, and its design looks like concept art for Tron.
Initially, the feature will only be released to individuals in California, Massachusetts, Missouri, Montana, and New Hampshire. After the launch, Robinhood Crypto is expected to expand to the rest of the U.S. as well.
In addition to investing in Bitcoin and Ethereum, Robinhood Crypto will allow you to track, read news about, and set price alerts for 14 other cryptocurrencies including Litecoin, Ripple, and Dogecoin. However, according to an article by Josh Constine over at TechCrunch, the ability to invest in more cryptocurrencies will be added once the feature gains footing. And if you’re worried about the security of your crypto investments, fear not — Constine notes that the company is also adding new two-factor authentication options including integration with various authenticator apps, so all your money will stay safe and sound.
If you’d like to request early access to Robinhood Crypto, you can sign up on the company’s website to get in line behind the nearly 100,000 (at the time of writing this article) other interested individuals.
Are you going to start investing in cryptocurrencies now that Robinhood has made it easy? Share why or why not in the comments.
Keep an eye on your Bitcoin investments fee-free with Robinhood Crypto