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Trading platform Robinhood launched its crypto app in the European Union (EU) with a Bitcoin rewards feature.
Trading platform Robinhood launched its Robinhood Crypto app in the EU. Robinhood Crypto is the only custodial crypto platform where customers receive a percentage of their monthly trading volume, paid in bitcoin (BTC). Users can also get up to 1 BTC when they sign up to the platform and refer a friend.
Robinhood Crypto Introduces Bitcoin Rewards Incentive
In a blog post announcing the news, Robinhood explained that the platform is available to all eligible customers within the EU. On average, Robinhood Crypto is also the lowest-cost crypto trading platform in the EU. Robinhood introduced an incentive where customers earn a percentage of every trade back each month, paid out in Bitcoin and deposited directly into their accounts. The reward program bases the amount of bitcoin paid out on the total volume traded in a given month.
Bitcoin rewards start at 0.10% for trading volume between €0.10 and €100,000 and scale up to 0.325% for volumes over €1 million. Bitcoin rewards will be locked to the user's account for 30 days after deposit. Users must trade over €100 monthly to qualify for the incentive.
Robinhood Crypto offers buy and sell support for over 25 currencies and built its platform with industry-leading safety and security.
Johann Kerbrat, GM of Robinhood Crypto, commented on the launch:
“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 EU has developed one of the world’s most comprehensive policies for crypto asset regulation, which is why we chose the region to anchor Robinhood Crypto’s international expansion plans.”
HOOD Shares Rocket in Recent Weeks
Robinhood’s (HOOD) share price saw significant upward movement recently. On December 7, HOOD changed hands at $11.27, a 7% rise for the day. The exchange platform also announced that its crypto trading volume increased by 75% in November. The sentiment around Robinhood has been positive, with Cathie Wood’s Ark Invest buying a large number of shares recently.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.Investment Disclaimer