Ethereum

Solana

DeFi

Bitcoin

Coin

<ul class="wp-block-list">
 <li>Robinhood allows users to deposit and withdraw over 20 cryptocurrencies.</li>
 <li>It provides crime insurance against security breaches and thefts.</li>
</ul>
The retail investing platform Robinhood announced the launch of cryptocurrency transfers for its European users. This enables the Robinhood customers to deposit and withdraw more than 20 cryptocurrencies, including major assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and USD Coin (USDC).&nbsp;
Moreover, for a limited time, the platform offers its customers in Europe a one percent match on all crypto deposits, in the same cryptocurrency they deposit, subject to a cap.
In addition, European customers can buy, sell, and hold over thirty-five cryptocurrencies at the lowest average cost. The users can also trade <a href="https://thenewscrypto.com/is-bitcoin-price-prepping-for-its-uptober-bull-run-at-63k/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> with zero fees. Besides, they can stake Solana to earn an estimated 5.23% annual percentage yield and earn up to 15% rewards on USD Coin holdings, with no limit.&nbsp;
Johann Kerbrat, VP and GM of Robinhood, stated,&nbsp;
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “With the launch of crypto transfers in Europe, we’re making self-custody and entering DeFi simpler and more accessible for our customers. Support for deposits and withdrawals gives customers more control over their crypto, while ensuring they have the same safe, low-cost, and reliable experience they expect from Robinhood.”
</blockquote>
Robinhood emphasizes protection and does not lend or leverage customer crypto assets. It stores the majority of the crypto in cold storage, and customers’s accounts are backed by industry-leading security. Moreover, the <a href="https://thenewscrypto.com/robinhood-agreed-to-pay-nearly-4m-amid-settlement-with-california-authorities/" target="_blank" rel="noopener noreferrer nofollow">platform</a> provides crime insurance against security breaches and thefts.
<h3 class="wp-block-heading" id="h-robinhood-s-crypto-correlation">Robinhood’s Crypto Correlation</h3>
Robinhood’s financial <a href="https://investors.robinhood.com/pressreleases/news-details/2024/Robinhood-Reports-Second-Quarter-2024-Results/default.aspx" target="_blank" rel="noopener noreferrer nofollow">report</a> for the second quarter in 2024 was profitable. The total net revenue increased by 40% year-over-year to $682 million. The platform’s transaction-based revenues increased 69% year-over-year to $327 million. It was primarily driven by the income from options, cryptocurrencies, and equities trading.
On the other hand, Robinhood <a href="https://investors.robinhood.com/pressreleases/news-details/2024/Robinhood-to-Acquire-Bitstamp/default.aspx" target="_blank" rel="noopener noreferrer nofollow">announced</a> its plans to acquire the crypto platform Bitstamp in June. To facilitate this expansion, the deal, valued at approximately $200 million in cash, is expected to close in the first half of 2025.&nbsp;
Highlighted Crypto News
<a href="https://thenewscrypto.com/ripple-obtained-in-principle-approval-from-dfsa-to-expand-operations-in-uae/" target="_blank" rel="noopener noreferrer nofollow">Ripple Obtained In-Principle Approval From DFSA to Expand Operations in UAE</a>

Robinhood Expands European Services with New Features for Crypto Transfers

Table of Contents

TheNewsCrypto

Other articles published on Oct 1, 2024

Popcat Price Poised for 200% Growth Amid Rising Popularity and Market Shift

When Will Bitcoin’s New Rally Start? Is There A Bullish Expectation? Analysis Company Explained

Crypto Boom: Pepe Coin Price Skyrockets As Cutoshi Attracts Ethereum Whales

Sui vs Solana: Can Sui Pass the Retail Leader?

Analyst Says Bitcoin's Expected Rally Won't Come in October, Points to This Date! Explains Expect...

Dogecoin and Bonk Rival Memecoin Flying Pepe Will Surge 16,000% Ahead of Exchange Listings

Join our free newsletter for daily crypto updates!