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I’m a big believer in their future. As soon as they release their native crypto deposit/withdraw functionality beyond beta (it’s amazing), Robinhood will be the
by buildbuildbuild 4y ago
I’m a big believer in their future. As soon as they release their native crypto deposit/withdraw functionality beyond beta (it’s amazing), Robinhood will be the first true crypto exchange with an attached U.S. bank account. [1]
That means no transfer times between banks and an exchange. Deposit and sell crypto, instantly spend fiat on their debit card. Deposit your paycheck ACH, withdraw crypto to your own wallet. Lack of a stablecoin is its only current blind spot.
It’s a game changer and very few people are understanding this, including in the marketing department at Robinhood. They need to plaster “Now an exchange, with a bank account.” ads on crypto news sites.
[1] Square Cash almost counts but I discount them due to only supporting BTC - a fault of their founder’s BTC maximalism belief.
- flywithit 4y agoEven supposing all that cryptocurrency integration brought on a lot of profit, I don’t think it secures their future because other platforms can just copy it.
- xur17 4y agoCoinbase has a U.S. bank account with a debit card, and there are a number of other smaller companies with similar products.
- bastardoperator 4y agoNone of this sounds game changing to me. I can get a coinbase card, but don't actually want one of those either. I think their days are numbered given the steep revenue declines.