Utah is the latest state to be added to Robinhood Crypto exchange platform. Robinhood is a well known stock exchange app that is known for it’s fee free trading and options. Robinhood has decided to branch out and allow fee free trading to Bitcoin and Ethereum against the US Dollar.
While Robinhood maybe fee free and is great for Margin trading it doesn’t do this with out having it’s fair share of flaws. Robinhood currently is not available in all states and is going through a slow rollout, even once your state is activated you may not be able to trade until Robinhood verifies your information. (This is crypto only and support has stated it should be fixed in 3 to 4 weeks) and the worst part is that you cannot currently withdraw any cryptocurrency . This is planned to charge but it is not active yet. I would suggest only using Robinhood for margin teadint until this feature is live. Never leave coins on any exchange.
This is great news even with all the caveats as it brings in more and more investors who have never gone ahead and played with crypto yet. A complete Robinhood rollout leads millions to an easier way to grab some coin and makes it easy to do so, now we just need withdrawals to be active.