Ian King a well known expert on cryptocurrencies, says that the arrival of Robin Hood’s new features may mean that prices will go down for Bitcoin and other cryptocurrency transactions. Robinhood has just introduced the ability to trade Bitcoin and other currencies on their mobile platform, but in the past, all that people were able to trade on Robinhood was stocks. Ian King says that this is a good sign for the cryptocurrency industry.
Robinhood is a mobile app that is designed to help poor people trade and invest in stocks. The interesting part about Robinhood is that they do not charge any commissions to use their platform. You can get started with just a small amount of money, and you do not have to worry about any extra fees. Visit cryptoprofitsummit.com to know more about Ian King.
Remember that extra fees can really eat into your bottom line if you are investing and trading stocks. Let us say that a company charges a two percent commission on any of the trades that you make. At the first glance, this may not sound like a lot of money. On the other hand, when you think about it, it does amount to a lot of money. If you make a trade with a hundred dollars, you will have to pay twenty dollars. If you then sell the stocks that you bought, you will have to pay around another twenty dollars so that you can sell. In the end, your fees will have added up to around forty dollars. This is almost half of your entire investment. That is a lot. If you make another buy and another sell, you will end up paying around eighty dollars in commissions, just on the one hundred dollars that you put in.
That is why Robinhood is such a great option for millennials. Unlike other apps like Coinbase, they are not charging large fees for all of the trades that you make with their platform. At the end of the day, Coinbase and other apps will be forced to play along and stop charging large commissions, says Ian King. This can only mean good things for the cryptocurrency industry in general, says Ian King Banyan. It will widen the market and give more people opportunities to trade Bitcoin and other cryptocurrencies. It will probably set in motion a domino effect to change the cryptocurrency industry.
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— Ian King (@IanKingGuru) May 31, 2018