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Robinhood launches crypto trading in the European Union
- PeterStuer 3y agoTheir legal adress seems to be a postbox at a small law firm branch, shared with several other crypto businesses.
- marcell 3y agoI'm trying to understand the voodoo trickery that squares these two statements: "Customers will earn a reward of up to 1 BTC when they first sign up and can receive up to 1 BTC for each successful referral" and "98% of rewards are worth €10–€20 in BTC."
- toast0 3y agoUp to 1 BTC also includes 0.0002 BTC. It's pretty scammy, but then Robinhood is kind of notorious.
- BenoitP 3y agoSeems like their target market is sensitive to betting/gambling prompts.
- kybernetikos 3y agoPresumably the reward amount is random with a few people getting dramatically more than everyone else. As if you got an entry into a lottery as a reward.
- Loic 3y agoAnd they select the winner of the 1BTC reward as an influencer with a lot of followers for a great get rich quick scheme advertising...
- milsorgen 3y agoThey did this strategy with stock, maybe they still do. You got a random share that could potentially be Microsoft or Apple or what not and you could earn more via successful referrals. I ended up getting some random pharmaceutical company whose name eludes me but it hovered around $5 the entire time I had it. I think it peaked at 8-9 once even, it was quite exciting for a neophyte like I was then.
- xyst 3y agoKey words: “up to”
- DeathArrow 3y agoYou can sell one egg with up to a million dollars.
- kmlx 3y agorelated, they also launched stock trading in the UK: https://robinhood.com/gb/en/ https://robinhood.com/gb/en/ https://newsroom.aboutrobinhood.com/introducing-robinhood-in-the-uk/ https://newsroom.aboutrobinhood.com/introducing-robinhood-in... > Introducing Robinhood in the United Kingdom > Starting today, we’re rolling out brokerage services in the United Kingdom. UK customers will have access to commission-free trading* of more than 6,000 US-listed stocks and ADRs including TSLA, AMZN, and AAPL. Our expansion to the UK marks an important milestone in our journey to democratise finance around the globe and increase access to the markets for all. > At launch, we’ll offer trading without foreign exchange (FX) fees, trading outside of market hours with Robinhood 24 Hour Market*, and no account minimums. Customers can build a portfolio for as little as $1 and grow their uninvested cash as they work out their investment strategy, earning 5% AER.
- chx 3y agoNow? What's the point? Can you still find marks who didn't learn all crypto are scams?
- dgellow 3y agoLot of people where too young last time and are now new targets. I don’t think they will ever run out of people to scam.
- resolutebat 3y agoRecently number go up, so there will be people tempted to "invest" in number going even upper. Of course, number going up is purely due to consumer and institutional demand and has nothing to do with, say, Tether printing another 5 billion USDT recently. https://davidgerard.co.uk/blockchain/2023/12/06/bitcoin-goes-up-can-5-billion-unbacked-tethers-kickstart-a-fresh-crypto-bubble/ https://davidgerard.co.uk/blockchain/2023/12/06/bitcoin-goes...
- petesergeant 3y agoI have this fantasy that Tether is legit, and trying to look shady, so that they can buy dollars at a discount. Any time market confidence falters, they prop up this price by buying back tether (which is backed 1:1) at a price under 1. They purposefully don’t provide any evidence, because it leads to cheaper dollars for them to purchase. Definitely not true, but what a beautiful “scam” that would be.
- crtified 3y agoI'm not here to judge crypto, but regardless : casual, loosely-regulated financial investment, in a famously volatile space, and controlled via smartphone app, is a scenario that warrants cautious decision-making.
- pavlov 3y agoIt's a gambling app, plain and simple.
- minerva23 3y agoI'm surprised people still trust Robinhood after the GameStop debacle. https://en.m.wikipedia.org/wiki/Robinhood_Markets https://en.m.wikipedia.org/wiki/Robinhood_Markets
- jonp888 3y agoWhy wouldn't they? Gamestop meme traders deliberately set out to smash the system and they succeeded to a small extent. Robin Hood, in the face of the partners they rely on refusing to allow further acquisitions, did the best they could by still allowing selling. For any normal trader what happened on one specific day to one specific stock which was deliberately manipulated on a massive scale to try and cause a trading halt is utterly irrelevant.
- alephnan 3y ago> Why wouldn't they? Because there are better brokerages out there. > in the face of the partners they rely You mean their actual customers. There are brokerages where the incentives are not perversed like this. > did the best they could by still allowing selling Assuming they acted in good faith to do their "best", their CEO was still incompetent failing to anticipate to liquidity issues > what happened on one specific day to one specific stock They halted buying on more than GME.
- halamadrid 3y agoYou do know that besides Robinhood many of the other brokers also halted trading the same tickers? Robinhood was the face of the issue for sure, but a lot of others did the exact same thing.
- alephnan 3y agoYes, I do. I said there are better brokerages, and that point still stands. Vanguard, for example, didn't. I never said that all other brokerages are better than Robinhood. In fact, there are worst. Just because other brokerages did the "exact same thing" doesn't excuse them or Robinhood.
- Joel_Mckay 3y agoIs this the same Robinhood partially owned by a private brokerage firm also running its core order clearance system services. Then turning around and hosing the users when the short squeeze is pinching said firm too hard. How are these guys still in business? It is like seeing a Chihuahua eat a 40lb bag of dog treats,.. impressive for the wrong reasons. lol =)
- nairboon 3y agoYep, the same scam Robinhood. I guess the have to pivot to crypto, because their other business is not running well?
- louwrentius 3y agoThat makes me sad. Crypto is just other people’s money. Just more people in tears over lost money.
- mvdtnz 3y agoWow just in time for the hype train.
- TekMol 3y agoRobinhood Crypto is a trading platform where users own their own crypto and we hold it securely on their behalf. Is this regulated somehow? Are there any governmental auditors coming in from time to time and check whether that crypto really exists? Or is it possible that they sell unbacked IOUs?
- pavlov 3y agoIn crypto, the answer to "is this regulated" and "are there government auditors" is always "haha absolutely not". And they really like it that way. Sure, Sam Bankman-Fried is in jail because he took $8 billion of funds that his company was supposed to be holding on customers' behalf. But see, that's actually positive for crypto, as it somehow in crypto-bro logic proves that everybody else is clean as a whistle. (Never mind that SBF was the #1 credible face of this industry only 14 months ago.)
- Yizahi 3y agoThere is no crypto trading platform or organization which had even a single independent audit, in any country. That's more than enough information I think :)
- Dah00n 3y agoLearned my lesson. They will not see a cent of my money.
- bedane 3y agosome of their older ads say 'no fees' is that still true? how do they make money then?