Robinhood is a brokerage app that is particularly popular among retail investors. They have recently made a public announcement of allowing their customers to deposit as well as withdraw cryptocurrencies. This was reported by Reuters.
In addition to this news, Robinhood will enable this facility for all customers across Dogecoin as well, which is meme-based crypto.
New Offers By Robinhood
At the present moment, Robinhood does not invest in any cryptocurrency or makes any use of customer cryptocurrency for the purpose of their very own benefits.
According to the reports, Robinhood that takes its name from the literary character, ‘Robin Hood’ who is known to take from the rich and give to the poor, changed the myth upside down. This is due to the reason that any person, rich or poor, change now changes their fortunes by investing in the stock market.
In addition, the landscape has transformed partly due to the reason that the technological equipment that has been brought to by the sellers and buyers together online as well as in real-time.
As a result of this, there is a development of an effect through which the accounts have been leveraged. Social media has been put to use and acts like a megaphone that has the ability to get in or get out of the holdings in a swift manner.
The problem is education because, despite the conduits opening for a change in fortune, there is an emerging need to make people believe and trust in trading without hesitation.
The incident of the GameStop that happened in January end with several brokerages including Robinhood had shut down their trading for AMC and GameStop in order to assist the market to take the control back.
