Robinhood (NASDAQ:HOOD) announced the results of a study—”verified” by Radius Insights—showing that Robinhood reportedly offers the “lowest cost” to trade crypto on average.
The analysis compares prices quoted from various platforms and exchanges, “including Cash App, Coinbase Advanced, Coinbase, Crypto.com, and Kraken, concluding that customers could receive up to 3.5% more crypto on Robinhood.”
To show clients how their prices compare to some of their competitors, Robinhood launched a pricing dashboard on their crypto home page, “demonstrating how much more Bitcoin, Ethereum, and Dogecoin customers could get for $100, $1,000, and $10,000 on Robinhood.”
Johann Kerbat, General Manager of Robinhood Crypto, said:
“With Robinhood, … you also get a user-friendly mobile experience, advanced trading tools, and peace of mind with … security.”
To provide better transparency, and help customers make more informed decisions about their purchases, they’re also changing the way they “display the spread and rebate Robinhood receives from sell and trade orders in the app.”
They’re providing all-inclusive pricing “to ensure there are no hidden fees and to reassure customers that they’re getting the most crypto for their buck.”
In addition to providing the low-cost crypto trades, they are on a mission “to build the safest and most trusted crypto trading platform.”
Unlike some of their competitors that have grown quickly and now list hundreds of digital assets on their platforms, Robinhood Crypto says that it has “taken a more conservative approach to supporting digital assets.”
This also means building safeguards for their products and providing “better education.”
Other customer protections include:
- Coin Management: We “never commingle” your coins with business funds other than for operating purposes (such as payment of network fees).
- Customer Service: We offer 24/7 support.
- Security: Our Security Team routinely reviews code and infrastructure powering Robinhood Crypto, and we engage third-party security experts to test our systems, helping us build some of the most secure systems in the industry.
- Storing Customers’ Coins: We hold nearly all of customers’ coins in cold storage, entirely disconnected from the internet.
- Crime Insurance: We carry crime insurance that protects a portion of the assets held across our storage systems against losses from theft, including cybersecurity breaches. The policy is underwritten by certain underwriters at Lloyd’s, the insurance marketplace, and placed by Lloyd’s registered broker, Aon.