Coinbase vs. Robinhood
Well here it is — a new player just stepped up and grabbed a seat at the table. Only this player isn’t going to charge you fees. Let’s review the tale of the tape for both of the organizations.
Robinhood announced on January 25th that they would be adding a list of Cryptocurrencies to their fee trading platform. They will have a much larger selection than the 4 currencies that Coinbase has to offer. Robinhood has listed Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Qtum, Ethereum Classic, Stellar, NEO, Zcash, Monero, Dash, Bitcoin Gold, Lisk, OmiseGO, and for the first time on a United States Exchange, Ripple.
Robinhood has a ways to go before they catch up to Coinbase and their 13.3 million users, but the wait list for Robinhood Crypto has already grown to 850,000+ and it’s been a shade under 48 hours. No fees and a larger selection of coins should lead to rapid growth, but if history has proven anything, Robinhood should have their hands full as we have yet to see an exchange be able to scale without any major setbacks.
It’s worth giving Robinhood a look — those 4% base fees can add up and their current free trading platform product is excellent so if they can keep that up with crypto, the sky is the limit.
