Re-blogged from VentureBeat – Robinhood, the financial services company that allows users to buy and sell stocks without paying any fees, has added four new cryptocurrencies to its trading list: Shiba Inu (SHIBE), Solana (SOL), Polygon (POLY), and Compound Coin (COMP). The company originally started out by allowing users to invest in Bitcoin, Ethereum, and Litecoin without incurring fees, but they’ve since added seven other cryptocurrencies over the last two months. Robinhood Adds Four More Coins To Its Crypto Offerings
Robinhood adds more cryptos
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Robinhood, which has introduced its zero-fee crypto trading service to all 50 U.S. states in February of 2019, today announced that it has added four new cryptos to its platform: Solana (SOL), Shiba Inu (SHIBE), Polymath (POLY) and Compound Coin (CPN).
The new coins
Robinhood users can now buy and sell Litecoin, Dash, Monero, and Zcash—bringing its total number of cryptos to ten. The company added Stellar last month. In a statement emailed to Motherboard, Robinhood confirmed that it was adding Solana (SOL), Compound (CPO), Shiba Inu Coin (SHIBE), and Polymath (POLY) today.
The Shiba Inu coin
For all you Shiba Inu lovers out there, Robinhood has added an official cryptocurrency of your favorite breed to its stable of offerings. The coin, SHIBE (SHI), is based on a PoW algorithm that utilizes hashing and is capped at 1 million coins, none of which will be pre-mined or instamined.
The Solana coin
Solana is a proof-of-stake blockchain that features smart contracts for sharding blockchains. This means users can make use of Solana’s signature trustless computing feature, where they don’t need to trust a central authority to process and verify transactions on their behalf. A validator would simply place a bet that they have validated blocks correctly and be rewarded if/when their bet is proven correct.
The Polygon cryptocurrency
The company behind Polygon Coin is building a game for its platform that players can access via desktop, mobile, or VR device. That game will reward its users with Polygon Coin when they complete in-game challenges. Robinhood says it will also add support for additional coins to be used as trading pairs on its platform.
Will Robinhood ever let you own crypto?
Crypto is fun, but most of us are waiting for Robinhood to let us invest in it. That’s not stopping it from adding more and more coins. Today, Robinhood announced four new cryptocurrencies: Shiba Inu (SHIBE), Solana (SOL), Polymath (POLY), and Compound Coin (COMP). Only some users can trade these right now — everyone will soon — so keep an eye out. You know what you should be looking out for?
Did Shiba Inu get listed on Robinhood?
The popular cryptocurrency platform recently added Shiba Inu Coin (SHIBE) to its list of coins that investors can trade on. Shibe was an obvious choice for us, said Robinhood Product Lead Vlad Tenev at a recent press conference. It’s an altcoin that will never fork or even pretend to care about market health. Also it’s adorable, and who doesn’t want that?
Does crypto cost more on Robinhood?
The new crypto assets will be available for trading in 16 states, including California, Colorado, Florida, Georgia, Indiana, Massachusetts, Michigan, Mississippi, Missouri and Texas. But in Illinois and Montana residents can only look on as their friends trade Litecoin. They’ll have to wait until mid-2018 to trade too.
Why can I not buy more crypto on Robinhood?
The new additions join an already robust list of coins that Robinhood offers to its users, including bitcoin (BTC), ethereum (ETH), litecoin (LTC), bitcoin cash (BCH), dogecoin, ethereum classic, and many more. The app also has a news feed breaking down cryptocurrency news and highlights new additions to its platform. But if you’re looking for some hot crypto trading action on Robinhood, you might be out of luck.
Can I sell my crypto on Robinhood?
It’s now possible to sell a wide variety of cryptocurrencies on Robinhood. After announcing Bitcoin Cash support in February, today we’re announcing that customers can also invest in and trade Litecoin (LTC), Zcash (ZEC), Ethereum Classic (ETC), and Dogecoin (DOGE). Like Bitcoin Cash, these coins can be bought and sold—but only if you have an account in certain states.
Is it good to buy Bitcoin on Robinhood?
Bitcoin has surged to new heights, crossing $5,000 for a single coin for the first time in November 2017. When Robinhood announced it would allow users to buy and sell Bitcoin with no fees on January 25th, there was an outcry from investors who didn’t want to wait until Robinhood received regulatory approval in order to make their first crypto purchase. It turns out they won’t have to wait much longer.