Robinhood Launches Its Trading App In The 25th State: Ohio

Robinhood is the crypto trading app that is in today’s crypto news because of a new milestone. According to new reports, the trading app has launched in the 25th US state of Ohio, bringing the number of states where the app is active to 25.

The tweeted statement shows that Ohioans can now safely trade various cryptocurrencies on Robinhood free of any commission. The app currently includes support for Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ethereum Classic and Dogecoin.

Robinhood Crypto is ebbing and flowing in Ohio! Trade Bitcoin, Ethereum, and other crypto commission-free in the Buckeye State. pic.twitter.com/F5sPCteWMP

— Robinhood (@RobinhoodApp) October 11, 2018

Earlier this month, the trading app also officially launched in the states of Tennessee, Arkansas as well as Rhode Island and Oklahoma. Right now, the list of states where Robinhood is active includes Arizona, California, Colorado, Florida, Georgia, Indiana, Iowa, Massachusetts, Michigan, Mississippi, Missouri, Montana, New Jersey, New Mexico, Pennsylvania, Texas, Utah, Virginia, and Wisconsin.

Introducing Clearing by Robinhood. It’s the only clearing system in the last decade to be built from scratch.

For you, this means:
▪️ Fewer fees
▪️ Improved customer support
▪️ A better overall experience

Read more about Clearing by Robinhood here: https://t.co/bKTfEvme2g pic.twitter.com/nA4QebTqAo

— Robinhood (@RobinhoodApp) October 10, 2018

As the official tweet from Robinhood states, the app is popular because of its fewer fees, improved customer support, and a great overall experience. The new proprietary clearing system will reduce the bank reversal charges and fees from $30 to $9 – and now has 6 million traders that are actively using the app.

Still, Robinhood needs to obtain licenses from the Depository Trust & Clearing Corporation (DTCC), the Financial Industry Regulatory Authority (FINRA) and the Office of the Comptroller of the Currency (OCC).