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: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
  • 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: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

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

Bitcoin

Mid-Sized Bitcoin Holders Break Records With 65K BTC Weekly Accumulation

According to data from blockchain analytics firm Glassnode, a group of mid-sized Bitcoin holders has stepped up buying this week,...

Christian Encila 16 hours ago

Maxi Doge – Πάνω από 2 εκατομμύρια στο Presale. Το νέο Dogecoin με προοπτική 100x

Μήπως έφτασε η στιγμή που το Dogecoin (DOGE) θα χάσει τα πρωτεία του; Αυτό τουλάχιστον δείχνουν τα νούμερα, αφού το...

Ιωάννης Ριζόπουλος 1 day ago
Bitcoin

$15M In Bitcoin Awakens From 10-Year Slumber As BTC Hits $116K

Bitcoin is back in the spotlight after reports confirmed that coins untouched since 2012 have been moved for the first...

Christian Encila 1 day 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

bitcoin

Bitcoin Breaks Above Mid-Term Holder Breakeven – Is A Fresh Rally Brewing?

Ash Tiwari 6 hours ago
Dogecoin

Dogecoin Defies Odds, Jumps 21% Even As ETF Debut Gets Pushed Back

Christian Encila 10 hours ago
Crypto

Crypto Investment Slows, August Funding Sinks To $2 Billion

Christian Encila 13 hours ago

Premium Sponsors

Press Releases

  • 新しい仮想通貨が投資家を最速で億万長者に導く ― 既存の「買うべき仮想通貨」を超えて

    ...

    9 minutes ago
  • 次のブル・ランで時価総額100億ドルに到達する可能性のある注目アルトコイン7選

    ...

    14 hours ago
  • トレーダー注目の新規コイン ― 仮想通貨1000倍リターンを狙える格安銘柄

    トレーダー注目の新規コイン ―...

    15 hours ago
  • ミームコインが注目のプレセールで100万ドル突破 ― Mine-to-Earn型報酬が話題に

    ...

    15 hours ago
  • Tyto 3 altcoiny explodují v aktuální sezóně – Bitcoin Hyper, Maxi Doge a Wepe SOL by mohly být dalšími generátory milionářů

    Maxi Doge ($MAXI): Investičná príležitosť medzi meme...

    20 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.