NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: BNB Reaches New All-Time High Of $956 As Binance Nears Deal With US DOJ
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: BNB Reaches New All-Time High Of $956 As Binance Nears Deal With US DOJ

Robinhood Aims to be Coinbase Competitor with Crypto Service Expansion

Nick Chong
Nick Chong
7 years ago
3 mins read
Robinhood

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Robinhood, a fee-less financial services startup, recently opened up free cryptocurrency trading for U.S. customers. Many users criticized ‘Robinhood Crypto’ for its limited cryptocurrency-related services. But a recent job offering, which went unnoticed by most, shows that the company plans to expand its involvement in the cryptocurrency space, as Business Insider reports. 

Robinhood Advertises Job For Cryptocurrency Wallet Developer

Robinhood was founded on the goal that investment in the financial industry should be open for as many users as possible, with its fee-less structure being integral to the realization of this goal.

Robinhood’s cryptocurrency operation opened in January amidst the cryptocurrency market hitting all-time highs, at a collective valuation of over $800 billion. The cryptocurrency community jumped on the opportunity for fee-less cryptocurrency trading, with many having high expectations for the service. 

Although the sign-up list for the Robinhood Crypto quickly reached over one million users, some were quick to call out the limited functionality the service offered. Specifically, the lack of support for the deposit and withdrawals of cryptocurrencies onto the financial service.

In its current state, the service only allows for cryptocurrency trading, essentially making it a platform directed towards price speculation. A representative of this growing startup acknowledged these criticisms, stating:

“People are constantly asking for the ability to transfer their tokens into Robinhood”

However, a recent job opening at Robinhood indicates that the fintech company is willing to offer a cryptocurrency wallet in the future, asking for “Crypto Engineers” for the development of “new functionality for our crypto product, such as adding new currencies or providing wallet functionality.” The addition of a cryptocurrency wallet to the lineup of services offered will allow users to transfer cryptocurrencies from Robinhood to their personal wallets.

Is RobinHood A Viable Coinbase Competitor?

Analysts of the cryptocurrency industry say that popular cryptocurrency infrastructure company, Coinbase, should be fearful of what Robinhood can bring to the table. Experts speculate that free trading put hand in hand with a cryptocurrency wallet, will allow for the growing cryptocurrency service to overtake a seasoned market participant like Coinbase.

According to documents obtained by Mashable, the SEC has received countless complaints about the Coinbase service. Users attributed many of these issues to the ‘growing pains’ the exchange has experienced. However, these complaints may just be one of the many reasons why Coinbase consumers may migrate to new exchanges, with consumers also criticizing the high fees on the platform. As Robinhood develops its platform, many expect for the mass migration of cryptocurrency users to this free and easy-to-use cryptocurrency trading option.

CEO of the growing fintech startup, Vlad Tenev, recently took an interview with Cheddar, stating:

“Whenever you think of what’s going to give you the best value for financial services, for anything you need, we want people to think of Robinhood eventually.”

Tenev also added that he already sees this happening, through the operation of the company’s cryptocurrency, stock, and options services. Competition has become an indispensable aspect of all healthy markets, with sustainable competition producing optimal market conditions for companies involved.

In conclusion, Coinbase may begin to feel mounting pressure on its security as a top cryptocurrency company. Michael Dunworth, the founder of cryptocurrency company, Wyre, mentioned that competition will be “a pretty significant threat for their (Coinbase) core bread and butter.”

 

Image from Shutterstock
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Το Solana διασπά κρίσιμη αντίσταση – Νέος μεσοπρόθεσμος στόχος τα $362

Το Solana επιστρέφει στο προσκήνιο της αγοράς κρυπτονομισμάτων μετά από μια εντυπωσιακή άνοδο 20,89% σε μία εβδομάδα. Η τιμή του...

Ιωάννης Ριζόπουλος 1 day ago
Dogecoin

Dogecoin Hits Multi-Month High, Veteran Trader Says It’s A Critical Progress

According to veteran trader Peter Brandt, Dogecoin’s price has pushed back above the $0.3 mark, a level that traders watched...

Christian Encila 2 days ago
Dogecoin

The Dogecoin Bullish Reset: A Clear Roadmap To $0.35

Dogecoin’s price action over the past week has seen it trending upwards. This movement has seen the meme cryptocurrency make...

Scott Matherson 2 days ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

XRP

Analyst Sounds Major XRP Warning: Last Chance To Get In As Accumulation Balloons

Scott Matherson 48 minutes ago
Crypto

Crucial Ten Days Ahead For Crypto: Will They Ignite Mega Altcoin Season?

Ronaldo Marquez 16 hours ago
bitcoin

Bitcoin Market Faces Supply Squeeze As Scarcity Index Turns Positive Again

Ash Tiwari 17 hours ago

Premium Sponsors

Press Releases

  • 3 alacsony piaci tőkeértékű altcoin erős akkumulációval, miközben az altcoin szezon beindul

    3 alacsony piaci tőkeértékű altcoin erős...

    28 minutes ago
  • A Wall Street Pepe tokenek tömeges elégetése folytatódik – 3,6 milliárd WEPE már eltűnt, és a szám folyamatosan növekszik

    A Wall Street Pepe tokenek tömeges elégetése...

    1 hour ago
  • 3 altcoiny o niskiej kapitalizacji z silną akumulacją, gdy sezon altcoinów się rozkręca

    3 altcoiny o niskiej kapitalizacji z silną akumulacją...

    2 hours ago
  • 専門家が予測する9,801ドルへの道筋と、市場を動かす3つの力

    イーサリアム...

    2 hours ago
  • シバコイン...

    2 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.