Robinhood Expands Shiba Inu Trading to Nevada

SHIB Whales Make Waves: $75 Million Transfer to Robinhood

Robinhood, the well-known California-based digital asset trading platform, has recently broadened its cryptocurrency reach. Taking a significant leap, the platform has announced the inclusion of Shiba Inu among the digital assets available for trade-in Nevada, as revealed in their latest post on the X platform.

Shiba Inu Becomes Accessible to Nevada Traders

Transitioning into new markets, the platform now empowers Nevada residents, alongside those from several other U.S. states, to engage in Shiba Inu trading on Robinhood Crypto without any accompanying fees or commission. What’s more, prospective traders can jumpstart their Shiba Inu trading journey with an investment as nominal as $1.

Delving deeper into their offering nuances, Robinhood Crypto adapts its tradable assets based on the regulatory climate of each U.S. jurisdiction. 

While the platform facilitates “buying, selling, and real-time market data” for a curated list of 15 digital assets – which boasts names like Shiba Inu, Bitcoin (BTC), Ethereum (ETH), Chainlink (LINK), and Dogecoin (DOGE) – certain coins remain off-limits for specific states. For instance, New York residents find themselves unable to trade Shiba Inu, Uniswap (UNI), and Stellar Lumens (XLM).

Related article: Shiba Inu Collaborates with Bad Idea AI to Launch AI Solution for Shibarium

Robinhood’s Stance on XRP in Nevada

Navigating the digital asset waters, Robinhood Crypto exclusively offers real-time market data for over 50 digital assets in Nevada, encompassing XRP, Binance Coin (BNB), Cardano (ADA), and Solana (SOL). However, it’s essential to pinpoint that this data availability doesn’t hint at Robinhood’s intention to list these tokens. Nevertheless, the platform underscores the possibility of eventually extending support for buying and selling these assets, XRP included.

As we transition to the platform’s reach, it’s noteworthy that Robinhood Crypto operates in every U.S. state, with Hawaii being the sole exception.

Upholding their commitment to security, Robinhood Crypto asserts that it fortifies users’ assets using the highest industry standards. They emphasized:

“We protect your crypto with industry-leading security, with nearly all of your crypto held in cold storage. We don’t lend it or leverage against it. We also perform regular audits.”

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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