Crypto Trading App Robinhood Now Supports Ether Classic

Cointelegraph is reporting that the crypto trading app Robinhood now includes Ethereum Classic (ETC) beginning Monday August 6th, 2018.

Quoting an official release from the platform, Cointelegraph reported that customers can now invest in Bitcoin (BTC) as well as several other altcoins such as Dogecoin (DOGE), Litecoin (LTE) and Bitcoin Cash (BCH). The platform also reportedly provides market data for ten other cryptos so customers can keep track of their performance.

Launched in February of this year, the Robinhood crypto app is now available in 19 US states. The app has seen wide penetration since its inception six months ago when it featured only Bitcoin and Ethereum and was only available in four US states.

The month of July saw landmark achievements for the platform. It was at that time that it started supporting Dogecoin, Litecoin as well as Bitcoin Cash.

Robinhood’s initial business model was premised on zero-fee basis. At the time of its launch, the platform issued a note indicating that it will operate “on break even basis” and it had no “plan to profit from it in the foreseeable future.” The note also pointed out that the company’s immediate focus would be “giving priority to expanding its customer base instead.”

The platform succeeded in raising $363 million three months ago to help the company broaden its business scope to $5.6 billion, four times its value from a year ago. There was a rumor just a couple of months ago that the platform had the intention to launch its own crypto. The speculation was as a result of a job posting the company made for crypto engineers.

According to statistics provided by Coinmarketcap, during the last 24 hours, Ethereum classic out-performed many altcoins considering its market capitalization. This stellar performance has enabled the altcoin to book its place in the coveted top 20 list of cryptocurrencies. It is currently twelfth placed and trading around $18.


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