Robinhood crypto has added their services to Michigan now, users in Michigan will start to be able to trade crypto on the Robinhood app fee free soon.
I say will, as I found out after my state launched that I can not trade yet, after contacting Robinhood support they informed me this was due to the verification process to make sure people don’t just lie about what state they’re in. Offering Robinhood support extra documentation is not an option and it looks like it is a waiting game.
Now if you don’t know why this is a big deal let me explain, Robinhood is a fee free stock trading app for Android and iPhone that has gained a ton of popularity. Now with adding crypto they are really getting tons of new investors over to try Bitcoin and Ethereum. (We have been told other coins could be coming soon)
Now there are some current issues, Robinhood does still not allow the withdrawal of Crypto into your wallets. This has been said to be incoming but it is not active yet. We have seen a large spike in states being added to Robinhood Crypto in a short period of time and this leads us to believe this could be turned on anytime.