Coinbase has some serious competition. Today, Robinhood starts rolling out its no-commission cryptocurrency trading feature in California, Massachusetts, Missouri, Montana and New Hampshire. Users there can buy and sell Bitcoin and Ethereum with no extra fees, and everyone can track those and 14 other coins in its sleek app. That’s compared to paying 1.5 to 4 percent fees in the U.S. on Coinbase. Users can sign up on the Robinhood Crypto site to waitlist for access.
Robinhood has a chance to usurp Coinbase as the de facto crypto trading site app by vastly undercutting its fees. When people are buying thousands of dollars of cryptocurrencies at a time, Coinbase’s 1.5 to 4 percent fees in the U.S. can quickly add up.
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