Cryptocurrency Shiba Inu Now Listed On Robinhood platform.
Customers can now buy and trade four new cryptocurrencies on Robinhood: Compound (COMP), Polygon (MATIC), Solana (SOL), and Shiba Inu (SHI) (SHIB).
Shiba Inu (SHIB), a cryptocurrency, has seen its price rise after being featured on Robinhood, a popular stock and crypto trading app. This is great news for SHIB lovers who had been hoping for a listing on the Robinhood app.
SHIB prices have risen 7% in the last hour, according to the Coingecko market tracker. COMP increased by 6.6 percent, MATIC increased by 3.5 percent, and SOL increased by 2%.
Customers may now purchase and trade four additional cryptocurrencies using the online broker's app and website, including Compound (COMP), Polygon (MATIC), Solana (SOL), and Shiba Inu (SHIB).
An unidentified person or group known only as Ryoshi released Shiba Inu as a Dogecoin (DOGE) alternative in August 2020. It was founded as an experiment in decentralised spontaneous community creation, according to its founders.
"As we seek to make Robinhood the best location to invest in crypto," Steve Quirk, Chief Brokerage Officer at Robinhood, said, "we're delighted to add more possibilities for our users." "As a safety-first firm, we have a rigorous structure in place to assist us in evaluating assets for listing, and we are committed to offering a safe and instructional crypto platform," said the company.
While the crypto tokens are currently available to purchase and sell on the Robinhood app, deposits and withdrawals will take some time.
Robinhood's digital wallet service was given out to 2 million members last week. Customers that sign up for the WenWallets queue will be able to send and receive any of the cryptocurrencies currently available on Robinhood, according to Robinhood Chief Product Officer Aparna Chennapragada, who spoke at a Bitcoin conference in Miami, Florida. In September 2021, Robinhood Finance released WenWallet, a cryptocurrency wallet. Users can safely store their cryptocurrency in a crypto wallet.
In addition, according to a Robinhood blog post, there is no fee for withdrawing cryptocurrencies from Robinhood. "Our mission is to make Robinhood the most reputable and user-friendly cryptocurrency platform." "By integrating with the Lightning network, we're pleased to deliver further lower costs to our consumers," said Vlad Tenev, CEO and co-founder of Robinhood.
The Robinhood app currently supports 20 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Dogecoin, Ripple, Stellar, Monero, and others.