When Robinhood made its first announcement that it would take a crypto-first stance when expanding internationally I was pretty skeptical. What they were talking about doing and how they planned to do it was a huge change from their current business model that focused on stocks. The biggest issue I saw them facing was the target audience. Numerous traders are still upset with Robinhood about how the WallStreetsBets mania was handled, and these traders are also heavily involved in crypto trading.

That's not to mention that initially, the same cryptos that had been available since the launch of the crypto trading platform were still the only crypto assets available. Further compounding it was that you could not send or receive this crypto essentially locking it on the account and having to trust Robinhood to keep everything safe and secure. Robinhood has though moved to address these issues and I have to admit have moved at a pace that I did not expect in the slightest. 

Over the last couple of months, 6 new cryptos have been added to the platform which when looking at Robinhood and where they were at the end of last year is similar to an explosion. At the same time, they have rolled out the ability to send and receive the cryptos that they offer. The cryptos that they are offering as well are what in the crypto space would be classified as either highly sought-after assets or your blue-chip assets. While other platforms tend to get stuck on one chain or another they have released across 6 blockchains as well which is no small feat! 

When they first expanded the list they included the staples like Compound, Solana, Polygon, and Shiba Inu which is an extremely solid and diverse list. Since the DeFi space was also dying down at the time it was interesting to think about what they would add next so two weeks ago when they added Chainlink I was happily surprised! Chainlink serves a vital role and is head and shoulder above the rest of the competition. Today then when I opened my app and saw that there was ANOTHER addition I was shocked because of the short timeframe. 

Today they added Uniswap to the cryptos you can buy and sell. Before everyone freaks out though they have not yet added the sending or receiving function. They typically do that a day or two later which they seem to do due to the influence additions have had on crypto assets when they have added them to the platform. Just like Coinbase causes rallies Robinhood has a very similar effect that they try to control as much as they can. This addition is the first one I have seen where Robinhood is starting to reach out beyond the types of crypto one would expect them to have. That is not to say that Uniswap is a bad addition but it is a different one than what they have previously done. 

I continue to be impressed with how Robinhood has handled this situation and I am encouraged by the different cryptos and crypto types they have added. I never would have imagined that they would have even gotten this far in their march to become a more crypto company yet here they are marching away even in a bear market! 

Please know I am not a financial advisor and make sure you do your own research! If you enjoyed this article and would like to further support me below are a few referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_

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