Robinhood CEO: No Plans to Make Money on Cryptocurrency Trading for ‘Forseeable Future’

Stock brokerage Robinhood launched no-fee cryptocurrency trading in February 2018 and intends to operate cryptocurrency trading as a breakeven business. Robinhood created its commission-free stock brokerage in 2013, providing major competition to existing fee-based trading platforms. Instead of making money from commission fees on stock and cryptocurrency trades, the company takes its profits from interest earned on cash balances, margin lending, and its premium services. Free Cryptocurrency Trading When Robinhood first announced at the endRead MoreThe post Robinhood CEO: No Plans to Make Money on Cryptocurrency Trading for ‘Forseeable Future’ appeared first on Bitcoinist.com.

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