Earlier this year Robinhood users clamored for additional crypto assets to be added to the platform. Users really wanted to hop onto the Shiba Inu train (SHIB). However, the company said that until they received more regulation clarity they would not be doing so. Well, I am happy to say I guess they got the assurances that they needed because suddenly this morning FOUR new assets were added to the platform!
So what was added?!
Compound (COMP)
Polygon (MATIC)
Solana (SOL)
Shiba Inu (SHIB)
While I am sure there will be plenty of blowback about only adding four there is something really unique though that deals with these four that were added. These tokens operate on a variety of networks and all receive wallets allowing users to be able to buy them on Robinhood and send them off the platform! Polygon, Solana, and Shiba Inu all have their own blockchains that are much much cheaper than Ethereum's so it was really nice to see these additions instead of more Ethereum blockchain coins added as it opens the door to so many more options!
Compounds addition was great to see as well because it really has become the standard of a DeFi blue-chip and its performance really does show how the DeFi industry is doing as well. While I do not see Robinhood rolling out a DeFi web browser anytime soon adding DeFi tokens really helps diversify their offering further which is something that I think everyone can agree is a great thing to see.
Overall this was a surprise to wake up to this morning as they were actually available to trade before the announcement was even made! I cannot wait to see them continue to build out from this and see them offer more coins and tokens! It will be interesting to see if they move into staking services or if they partner with someone to provide those for users. Now that they seem to be really focused on building this out the sky is the limit when it comes to what they could possibly do!
Please know I am not a financial advisor I am just someone who picked up on a trend and wanted to express it! Makes sure you always do your own research and never invest money you cannot afford to lose! If you enjoyed this article and would like to further support me below are a couple of referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_
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