Robinhood has rolled out new choices for crypto buying and selling by the Android app, together with stop-loss and stop-limit orders.
This replace brings the Android customers in step with the iOS customers, permitting each to set automated actions based mostly on value motion that reduces threat.
Robinhood Unveils Main Replace For Android Customers
Robinhood has added new order sorts to its Android app, which permits the customers to have extra management over their buying and selling actions in cryptocurrencies. The newest characteristic added to the Android software is the stop-loss and stop-limit orders which allow merchants to arrange an computerized promote or purchase order at sure value ranges.
GM. Superior order sorts are actually obtainable to Robinhood Crypto customers on Android 🚨
Now prospects on each iOS and Android can set stop-loss and stop-limit orders based mostly on value actions. Extra about Robinhood Crypto at https://t.co/GEaCzul9Dh
— Robinhood (@RobinhoodApp) August 20, 2024
These instruments are geared toward permitting merchants to reduce losses or lock in income, one thing that was not doable earlier than on the Android app. Together with these order sorts brings the characteristic set of the Android app in step with that of the iOS app, thus offering the customers with related expertise on each platforms.
The brand new options are a part of Robinhood’s technique to develop the service of cryptocurrencies which have been in excessive demand among the many retail traders. The corporate’s mannequin of providing zero-fee trades has helped it entice new and seasoned traders, particularly these within the crypto house. Consequently, the customers of the platform are prone to be receptive to this replace provided that the platform’s person base is repeatedly rising.
Growth into New U.S. Territories
In July, Robinhood Crypto expanded its companies to incorporate three new U.S. territories: the U.S. Virgin Islands and Puerto Rico. This enlargement permits customers in all U.S. territories to commerce 15 cryptocurrency belongings on the platform, together with extensively traded choices like Bitcoin and Ethereum.
This transfer positions it forward of main U.S.-based opponents reminiscent of Coinbase and KIn July, Robinhood Crypto expanded its companies to incorporate three new U. S. territories: the U. S. Virgin Islands and Puerto Rico.
With this, customers in all of the US territories can commerce 15 cryptocurrencies on the platform, which embody the most well-liked ones reminiscent of Bitcoin and Ethereum.
Plans to Launch Cryptocurrency Futures within the US & Europe
Equally, the buying and selling platform is eyeing extra crypto merchandise because it continues to roll out a cryptocurrency futures product in america and Europe. As reported by CoinGape, the corporate plans to leverage the licenses of Bitstamp, a crypto alternate that it has agreed to buy for $200 million, for this new endeavor.
After the acquisition is accomplished, Robinhood goals to introduce CME-based futures for Bitcoin and Ether, primarily specializing in the U.S. market.
Concurrently, the corporate has confronted sure challenges reminiscent of a Wells discover from america Securities and Alternate Fee (SEC) pertaining to sure tokens traded on its platform. In the meantime, the Robinhood (HOOD) inventory value has seen a bullish shift. At press time, HOOD was buying and selling at $20.28, a 1.50% surge from the day’s low.
Kelvin Munene Murithi
Kelvin is a distinguished author specializing in crypto and finance, backed by a Bachelor’s in Actuarial Science. Acknowledged for incisive evaluation and insightful content material, he has an adept command of English and excels at thorough analysis and well timed supply.
Disclaimer: The offered content material could embody the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability to your private monetary loss.
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