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The currency base is one of the main exchanges when it comes to cryptocurrency trading. It is one of the largest exchanges of Ethereum and Bitcoin.
Now, as more and more off-line companies try to trade cryptocurrencies, the challenges for traditional cryptocurrency exchanges are on the rise. One of these exchanges that is trying to raise market share when it comes to trading on Ethereum and Bitcoin is Robin Hood. It will allow the trade of Bitcoin and Ethereum from February of this year. It also provides for the addition of additional cryptocurrencies at a later time.
Originally published in January 2018
In addition, it currently provides a trading application that does not charge any commission. Provides this application since 2015. This is one of the main reasons why most cryptocurrency investors are enthusiastic about this new era that seeks to provide cryptocurrency services as well.
Many cryptocurrency investors think that the offer of non-commissioned trading would also extend to cryptocurrencies. However, if that happens, it would extract customers from the cryptocurrency trade that they are currently charging money. This is one of the main reasons why people are worried about exchanges that charge a heavy tax at the moment.
According to a spokesman for Coinbase, TransitNet would be able to capture part of the market share but would only be among small retail investors. Most of the larger investors would remain with Bitcoin.
The monetary base has an enormous operation and allows citizens of various countries to invest in cryptocurrencies. Furthermore, the total user base is around 13 million. For this reason, many losses of customers for coins are not expected. However, the competition is definitely warming up in the cryptocurrency space.
In the future, you can be sure that more and more brokers will try to criptovalute trading. This is one of the main reasons why it is the moment when traditional cryptocurrency exchanges effectively reduce their commissions so that they are able to compete with the new stock exchanges and with other companies entering the market. The current commissions of 3% to 7% are actually quite high. In none of the other sectors, brokerage is often so high. Furthermore, the variation between the rates also increases the cost of investors. For this reason, it is the moment when cryptocurrency exchanges think of reducing commissions.
How does Robinhood make money?
With Robinhood Gold, you get up to 2 times your buying power and access after hours trading starting at $ 6 a month. This is the only product for which Robinhood charges you and is completely optional. Trading is still without commissions.
In addition, Robinhood earns revenue by raising interest on money and securities in Robinhood accounts, just as a bank collects interest on cash deposits.
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