Lisk Listed in Robinhood App: Certainty or Hope?
Robinhood App is the first largest platform focused on ETFs and stocks trading that will allow also to monitor and invest in cryptocurrencies. The Company, founded in 2013 by Stanford University students Vlad Tenev and Baiju Bhatt, has more than 3 million users and offers zero fees for buying or selling products on the platform. After raised $110 million in April 2017 fundraising, Robinhood has a $1.3 billion valuation. At the moment the service is available only in the United States.
Thanks to the success of the apps, Robinhood is now working to launch a web-based platform, which should be available in early 2018.
In its latest blog post the startup announced the introduction of Bitcoin and other cryptocurrencies on Robinhood Crypto. Lisk is listed in the 16 currencies available to be added in the watchlist, in order to monitor market data, read cryptocurrencies news and create custom price alerts.
In February trading operations will be limited to Bitcoin and Ethereum, but more coins will be added later.
In relation to the possibility to trade the remaining 14 mentioned cryptos (Bitcoin Cash, Litecoin, XRP, Ethereum Classic, Zcash, Monero, Dash, Stellar, Qtum, Bitcoin Gold, OmiseGo, NEO, Lisk, Dogecoin), according to some Reddit posts the Robinhood’s Support stated:
Moving forward, we plan to support the ability to buy and sell other cryptocurrencies, and will be sure to let you know as more become available.
Keep in mind that supporting market data for individual cryptocurrencies doesn’t necessarily mean we plan to add buying and selling.
So this is just a generic response, nothing is confirmed about an imminent listing.
Even if Robinhood does not have the 11.9 million users Coinbase does, it seems that a new contender enters the crypto market, with the aim of offering an easy-to-use service, more supported coins and zero fees. With these features many crypto users will leave Coinbase and move into this new plaform, further increasing the services’ competitions.
Lisk Magazine is a project supported by Lisk Italian Group.