As a seasoned crypto investor with roots deeply entrenched across continents, I can’t help but feel a wave of excitement upon hearing about Robinhood’s expansion into Europe. Having navigated the complexities of various exchanges, I’ve seen firsthand the importance of accessibility, affordability, and reliability in this fast-paced market. Robinhood’s focus on these aspects, combined with their recent strategic moves, makes them a compelling choice for both retail and institutional investors.
Robinhood Crypto has introduced cryptocurrency transfer capabilities for their European clients, responding to a frequently demanded feature among users from this region.
With the recent launch, Robinhood users now have the ability to deposit and withdraw over 20 different cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and USD Coin (USDC), as mentioned in a press release that has been distributed.
During this initial phase, Robinhood is providing a 1% bonus for every cryptocurrency deposit you make, but only for a certain period. This bonus will be credited to you in the same type of cryptocurrency that you deposited, and the maximum reward per customer is €10,000.
European users of Robinhood Crypto have the ability to purchase, sell, and hold more than 35 different cryptocurrencies at what Robinhood asserts are some of the most competitive prices on average.
Additional advantages include:
According to Johann Kerbrat, Robinhood’s Vice President and Head of Crypto, this latest addition empowers users with greater management of their cryptocurrency investments, all while preserving the essential qualities that make Robinhood stand out: affordability, security, and dependability.
By introducing cryptocurrency transfers across Europe, we’re streamlining the process of self-management and DeFi participation for our users, making it easier and more approachable. The addition of deposit and withdrawal options empowers customers to manage their digital assets independently, while maintaining the secure, cost-effective, and dependable service they’ve come to trust from Robinhood.
Johann Kerbrat
Robinhood and crypto
This year, Robinhood has been proactively broadening its cryptocurrency selections and investor portfolios for retail traders. They’ve made strategic acquisitions like Pluto Capital, a platform specialized in crypto research and artificial intelligence, as well as the trading platform Bitstamp. These moves aim to strengthen Robinhood’s global crypto footprint and court institutional clients by introducing innovative products.
Robinhood has indicated their plan is to leverage Bitstamp’s well-established connections, robust infrastructure, and cutting-edge product offerings.
In the second quarter of 2024, Robinhood announced profitable results, marking a significant 40% rise in annual revenue to an impressive $682 million. This surge was primarily fueled by a resurgence in cryptocurrency trading activities. The company’s crypto-related income from transactions skyrocketed by 161%, amounting to $81 million, and the value of crypto assets managed under custody increased by 57% to a substantial $20.6 billion.
On the Nasdaq marketplace, Robinhood’s stocks are traded. Remarkably, their shares have surged close to 90% since the beginning of this year, significantly outshining competitors such as Coinbase whose shares have climbed approximately 14% in 2024.
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2024-10-01 10:14