Robinhood, a commission-free stock trading and investment platform, has announced this. Bitcoin and Ethereum futures trading. The company has also launched a desktop trading platform.”legend” added futures trading and index options On mobile for active traders.
Robinhood offers Bitcoin and Ethereum futures trading
Robinhood launches first-ever customer-centric conference HOOD Summit Be stylish by announcing some products or services. We have launched the long-awaited desktop platform.”legend” added futures and index options trading capabilities to its mobile app on Wednesday. It also announced HOOD Week, which offers users exclusive bonuses on transfers from external brokerages.
The company announced that it will launch futures trading directly within the app in the coming months, allowing customers to trade the S&P 500, oil, Bitcoin, and more. Cryptocurrency offerings include Bitcoin Contracts, Micro Bitcoin Futures, Bitcoin Friday Futures, Ethereum Futures, and Micro Ethereum Futures.
“We trade futures the Robinhood way.” JB McKenzieVice President and General Manager of Futures and International at Robinhood. “With the lowest fees in the industry and an elegant mobile user interface that makes trading easy, fast and efficient for our customers, there is no reason to trade futures anywhere else.”
Customers can trade with one tap without PDT rules, enjoy 60/40 tax benefits with low fees, and trade in a nearly 24-hour trading window.
Recently, the company launched cryptocurrency transfers in Europe, allowing users to deposit and withdraw over 20 cryptocurrencies and also earn 1% yield on deposits. However, XRP, TON, ZK, W, ARB, ATOM, DOT, EOS, FTM, JUP, NEAR, OP, and TIA have been excluded from the service.
Will the Legend Desktop Platform revitalize the market?
The company continues to expand into the financial services industry, currently focusing on derivatives to compete with existing players. The Legend platform allows users to open up to eight charts in one window, providing traders with more technical indicators than its competitors.
“With Robinhood Legend, futures and index options, we are helping our customers maximize the power of the markets and take control of their financial future,” he said. Vlad TenevChairman and CEO of Robinhood.
The company believes its products and services will drive adoption, including in the crypto market as it will in 2021.
HOOD stock closed 0.49% higher at $26.93 on Wednesday. It was up 2.49% in after-market hours and is likely to open even higher today amid the HOOD summit.
Bernstein, a private wealth management firm, predicted Robinhood's operating profits would soar to about $900 million this year. The company's market capitalization is expected to soar between $19 billion and $23 billion, and sales are expected to reach $3.4 billion next year, the company's analysts wrote.
Varinder Singh
Varinder has 10 years of experience in fintech, with over 5 years dedicated to blockchain, cryptocurrency and Web3 development. A technology enthusiast and analytical thinker, he has shared his knowledge about disruptive technologies in over 5,000 news, articles, and papers. Together with CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He currently covers all the latest information and developments in the cryptocurrency industry.
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