Robinhood is set to make a significant stride in the European Union by launching the Robinhood Crypto app for all eligible customers in the region. The company claims that the app is the only custodial crypto platform in the EU where customers can earn a portion of their trading volume back every month in Bitcoin (BTC).
In an effort to drive new users, Robinhood Crypto is offering a unique opportunity for both new and existing customers. New customers are eligible to earn up to one Bitcoin when they open a Robinhood Crypto account and trade a minimum amount of €10 in crypto. Similarly, existing customers can earn up to one Bitcoin for every referred friend who successfully opens an account and trades a minimum €10 worth of crypto.
Johann Kerbrat, the General Manager of Robinhood Crypto, expressed excitement about the expansion:
“We believe crypto is the financial framework for tomorrow and that it plays a significant role in our mission to democratize finance for all. For this reason, we’re thrilled to expand crypto trading to customers throughout the EU, enabling them to buy and sell their favorite tokens safely and securely.”
The app provides support for buying and selling over 25 different cryptocurrencies, boasting industry-leading safety and security measures. Robinhood Crypto also purports to be the most cost-effective crypto trading platform in the EU on average.
Further enhancing its appeal, the platform offers customers a monthly Bitcoin rebate based on their total trading volume. This rebate program is detailed in the help center, allowing customers to understand how it operates and the potential benefits they can receive.
To ensure transparency and informed decision-making, Robinhood Crypto displays the spread in the app, including the rebate received from sell and trade orders. This all-inclusive pricing model ensures that customers are aware of the full cost of their transactions, with no hidden fees.
For a limited period, eligible customers can also earn a reward of up to one Bitcoin when they sign up and trade a minimum amount of crypto. Additionally, they have the chance to earn up to one Bitcoin for the first 300 successful eligible referrals. Each customer receives a unique referral link to share with friends and family upon signing up.
According to a statement, Robinhood Crypto is designed to be a secure trading platform where users maintain ownership of their cryptocurrency. The platform allows users to buy and sell over 25 cryptocurrencies, track real-time prices, access charts, and fine-tune their trading strategies. Users can also explore various digital assets, create watchlists, and stay updated with the latest news directly in the app. Support for additional tokens, crypto transfers, crypto staking, and crypto learning rewards are all expected to launch in 2024.
Robinhood emphasises again about building the safest and most trusted crypto trading platform. As a publicly-traded US company, it undergoes regular reviews by third-party auditors. The company is quick to point out that in contrast to some competitors, Robinhood Crypto has adopted a more conservative approach to supporting digital assets.
This involves implementing safeguards for its products and providing educational resources. Additional customer protections include coin management, 24/7 email support, cold storage of nearly all customer coins, and crime insurance underwritten by Lloyd’s.
Robinhood Crypto is now available to all eligible iOS and Android customers across the EU. Eligibility criteria include EU citizenship and being over the age of 18.
