US-based buying and selling platform Robinhood expand Its cryptocurrency providing in Europe has launched a brand new characteristic that permits customers to deposit and withdraw digital property by exterior platforms.
This replace marks a significant Platform developmentas European customers beforehand confronted restrictions on transferring digital currencies.
Wider entry to cryptocurrency switch and buying and selling choices
Beginning October 1, Robinhood Crypto, the cryptocurrency arm of Robinhood Markets, will provide its European customers the choice to make cryptocurrency transfers, enhancing the performance of the platform for European customers, in line with a press launch uploaded earlier at this time.
With this new characteristic, European prospects will now have the ability to deposit and withdraw round 20 cryptocurrencies, together with main property equivalent to Bitcoin (BTC)Ethereum (ETH), Solana (SOL) and USD Coin (USDC).
A press launch described the addition of cryptocurrency transfers as one of many “hottest options” within the area.
The corporate revealed that the change provides customers “larger flexibility” to maneuver digital property between Robinhood and different platforms, equivalent to exterior exchanges or crypto wallets.
The flexibility to switch digital property is designed to supply customers with extra management and choices to handle their investments past the buying and selling platform itself.
Earlier than Robin Hood appeared in Europe
Forward of at this time’s launch of cryptocurrency transfers, Robinhood restricted its European customers to purchasing and promoting digital property inside its app.
This implies customers can not switch cryptocurrencies from platforms like Bybit or Binance to Robinhood or ship their Cryptoassets From the buying and selling platform to an exterior pockets equivalent to Trustwallet or Metamask for safekeeping or additional buying and selling.
Since first launching cryptocurrency buying and selling in Europe, the corporate has centered on offering fundamental shopping for and promoting companies however not the broader performance that many customers have come to count on from a buying and selling platform.
Cryptocurrency transfers launched at this time change that, permitting customers to freely transfer their crypto property out and in Robin Hood App.
Johann Kerbrat, vp and common supervisor of Robinhood Crypto, famous:
With the launch of cryptocurrency transfers in Europe, we’re making it easier and simpler for patrons to self-custody and enter DeFi. Assist for deposits and withdrawals provides prospects extra management over their cryptocurrencies whereas guaranteeing they’ve the identical secure, low-cost and dependable expertise as Robinhood.
Notably, that is per the broader motion Towards self-monitoringcustomers typically choose to have larger management over their digital property moderately than leaving them fully on a centralized platform.
Featured picture created utilizing DALL-E, chart from TradingView
