Georgia Residents can do crypto trading on Robinhood App

The residents in the state of Georgia can now invest in cryptocurrency through the application of Robinhood, a commission-free stock trading platform.

Robinhood app in Georgia

The users of this app in Georgia can now trade crypto coins without altering any settings. Moreover, with the help of which, the users could trade Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Dogecoin. The slow roll-out of crypto trading to several states through their application is followed by the simple, no-fee intention of the company for the retail customers to invest in the stock market.

Also read: Robinhood is here for millennials, look out Coinbase!

Limited Options

The trading giant is slowly rolling out this feature to gain public interest. Also, they have to keep a track of the state regulations independently for every state to gain clearance for residents to trade digital coins. It usually increases the time required for its processing. As per Robinhood’s support page, trading is available in more than 18 states as of now. However, at this stage, It’s users can only buy, hold or sell the currencies. It is because they don’t have access to their private keys and of the dearth of a wallet interface. Currently, users cannot send or receive coins. However, Robinhood has stated of its plans to include transfers “in the near future”.

Robinhood’s blog update states,

“With the release of Robinhood Crypto, we’re continuing our mission of making the financial system work for everyone, not just the wealthy.”

Assuming that the roll-out runs smoothly, Robinhood is set to join the list of the largest cryptocurrency platforms with over 4 million users currently.

 

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