Stock and crypto trading app Robinhood is looking to raise at least $200 million in a new funding round, Bloomberg reports.
A recent NerdWallet review gives the Robinhood app an impressive 4.5 out of 5 stars.
Robinhood has been dealt a few blows recently too when it was discovered to be selling its customers’ data for millions of dollars to Wall Street trading firms.
What is Robinhood Crypto?In January 2018, Robinhood announced that it would be making Robinhood Crypto available for its users in selected states.
What’s good about Robinhood Crypto?The main advantage is obvious – commission-free trading.
Where does Robinhood Crypto fall short?Limited geographical reach aside, there are some major limitations to Robinhood Crypto that prevent it from being a threat to an exchange like Coinbase, for the time being at least.
First of all, there is no way of withdrawing the crypto that the Robinhood app holds for you.