July 17th, 2018
Robinhood Adds DOGE to Instrument Portfolio
The news, announced on the Robinhood blog on Monday, came less than a week after the addition of Litecoin and Bitcoin Cash. Now Robinhood users can invest commission-free in five of the more popular cryptocurrencies, namely Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Dogecoin.
Trading is currently available in 17 US states, among them California, Florida, New Jersey, Arizona, Colorado, Michigan, Texas, Pennsylvania, and Virginia. Robinhood said it was working on expanding the option to all US states. Additionally, the company is planning to grow further its coin offering and add coin transfers.
In the meantime, all Robinhood users can monitor market data, read cryptocurrency news, and create price alerts for 16 coins: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Ethereum Classic, Zcash, Monero, Dash, Stellar, Qtum, Bitcoin Gold, OmiseGo, NEO, Lisk, and Dogecoin.
California-based Robinhood was created in 2013 by two Standford University math graduates and launched at the end of 2014. Initially, the app offered commission-free trading in “traditional” assets like US stocks, ETFs, and options.
In February this year, Robinhood started offering commission-free trading in cryptos with Bitcoin and Ethereum and has been expanding its portfolio ever since.
Dogecoin came out in 2013 as a joke of sorts but has since evolved into a decentralized peer-to-peer cryptocurrency that can be used for money transfers. It has a market cap of around $331 million, according to CoinMarketCap.