Robinhood CEX Lifts Restrictions from Clients

US-based exchange Robinhood Crypto, a subsidiary of Robinhood Financial, has elevated all restrictions on its cryptocurrency traders in terms of transfers to other platforms. The company has announced that its users can now send and receive all the listed cryptocurrencies without any kind of restriction with zero percent fees. Previously, the users had some restrictions while transferring crypto assets outside the platform which made its users feel bound.

Many traders had expressed their concerns regarding the number of available crypto assets and the restrictions imposed by the platform on the transfer outside the venue. Robinhood addressed the first issue in April by listing four new crypto assets including Solana, Polygon, Compound, and Shiba Inu.

Other exchanges have also started announcements to attract more clients as the ongoing crypto winter has seriously affected exchanges and brokers. The leading crypto exchange Binance has also offered a zero-fee service starting from its fifth anniversary.

Criticism Proves Beneficial for Robinhood

Although Robinhood users had been raising their voices against restrictions for many years now but the criticism had now increased significantly. Its reputation had started to get affected as people now took social media to increase pressure on Robinhood management which had now ultimately shown a positive result. In the Q3 of 2021, more than 1.6 million people joined the waiting queue to avail of this capability. As a result, the firm started testing its Bitcoin withdrawal functionality.

Now its cryptocurrency users have expressed their excitement and contentment at this announcement as they can enjoy the zero trading fee facility more effectively.

Other Exciting Features

Robinhood Crypto is a popular exchange that provides its services for the trading of stocks, options, ETFs, and crypto. The exchange is mainly famous for providing foolproof security to its clients. It started providing its services in 2018 and since then it has touched the peak of its success in a recent couple of years.