Dogecoin [DOGE] is now on Robinhood, users go ‘much wow’

Robinhood, in its next round of updates, has announced on 16th July that the digital wallet will now let users trade Dogecoin [DOGE]. The digital wallet aims to expand its user base with this implementation.

Robhinhood's tweet | Source:Twitter

Robinhood’s tweet | Source: Twitter

The company’s official blog states:

“We’re working hard to make Robinhood available to everyone, and it’s currently available in 17 states: AZ, CA, CO, FL, IN, MA, MI, MS, MO, MT, NJ, NM, PA, TX, UT, VA, and WI. We also plan to further expand our coin offerings and add support for coin transfers.”

Robinhood does not levy overhead commission charges, making it stand out from the rest. The platform earns through the interest generated on customers’ cash balances and margin lending.

Robinhood now has a total portfolio of five cryptocurrencies on their platform, with Bitcoin cash and Litecoin added last week. The competition in the cryptocurrency industry is apparent with this development as all digital wallets are trying to outdo one another.

Jason Trobman, a cryptocurrency enthusiast tweeted:

“I honestly don’t know why they’re concerned with Dogecoin, but welp, here it is!”

CryptogGeneticist, a twitter user commented on the Twitter post:

“Yeah by far one of the best chains out there @RobinhoodApp @AskRobinhood one has to question why one of the most proven longest chains in existence hasn’t been added yet. Lets work together & get #Digibyte $DGB listed.”

Pandaboss, another user stated:

“To the moooonnnn!!! 🚀 1 Doge = 1 Doge. Also…if people start trading this seriously could this spell disaster? For those who have been around awhile we know the joke, but what about n00bs who just got started?”

Dogecoin, which started off as a parody cryptocurrency had peaked in January 2018 when its market volume rose to $2.1 billion. At the time of writing, Doge was trading at $0.0029 with a market cap of about $333 million. In the past 24 hours, the coin has seen a hike of 18.54%, according to CoinMarketCap.

Dogecoin's chart | Source: CoinMarketCap

Dogecoin’s chart | Source: CoinMarketCap

Most of the user opinion shows that Robinhood has created quite the ripple among cryptocurrency users and is on its way to becoming a major player in the market.

Jacob, a crypto enthusiast commented:

“hope the application is going to spread to other states also.”

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