Robinhood App Includes Dogecoin on Its Crypto Platform

1664 Total Views

Robinhood, a U.S based trading company, has announced in a blog post that it had included support for Dogecoin (DOGE) on its Robinhood Crypto Platform.

DOGE is a peer-to-peer cryptocurrency startup initiated as a parody on a dog meme based on a real Japanese Shiba Inu named Kabosu. DOGE was launched in December 2017 and currently has a market capitalization of $331 million, according to Coindelite Price Chart. Through its announcement, DOGE joined Litecoin (LTC) and Bitcoin Cash (BCH), which were added last week in the platform.

Dogecoin currently has more than 115 billion circulations and had reached $1 billion market capitalization in January.

In February 2018, the company launched zero-fee Bitcoin (BTC) and Ethereum (ETH) trading for the first batch users of its Crypto platform. Robinhood Crypto is currently available in 17 states, with trading supported for five cryptocurrencies and real-time market data for a broader range of coins.

Recently, the company declared that it has already acquired over 5 million users on its platform, the introduction of Options and Crypto played a significant role in achieving this milestone. Note that Robinhood added cryptocurrencies to their portfolio back in February.

A blog post by Robinhood explained the reason for this move – “Since we launched Robinhood Crypto in February, our customers have voiced interest in buying and selling other cryptocurrencies beyond Bitcoin and Ethereum.”

Although the price drop has raised concerns over the future of cryptocurrencies; However the continued investor support and public interest make cryptocurrencies a compelling prospect.

Nishanth Shetty

Nishanth Shetty is a technical writer, author and a crypto-advisor working at Cryptofame. Based in the city of dreams, Mumbai, on the west coast of India. He holds a bachelors degrees from Mangalore University. Nishanth has a myriad experience of technical writings for tech brands. His interests include technology, travel, and food.