Robinhood launches Bitcoin and digital assets trading in New York
|- Trading of Bitcoin and other digital assets went live on the platform on Thursday.
- “Currently, you can invest in seven cryptocurrencies on Robinhood Crypto.”
The state of New York residents will now access buy and selling services on Robinhood trading app for Bitcoin, Ethereum among other cryptocurrencies. The launch of the trading services in New York comes after Robinhood was granted the coveted BitLicense by the New York Department of Financial Services (NYDFS) earlier this year. The trading of Bitcoin and other digital assets went live on the platform on Thursday. The development was announced in a press release:
“Currently, you can invest in seven cryptocurrencies on Robinhood Crypto: Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, Ethereum Classic, Litecoin, and Dogecoin. You can also track price movements and news for those and 10 additional cryptocurrencies.”
New York regulations require that all operators of cryptocurrency exchanges even those “storing, holding, or maintaining custody or control of virtual currency on behalf of others,” comply with the set guidelines before being granted the BitLicense. Most companies prefer to avoid the state altogether.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.