Robinhood is a well-known trading platform that offers stocks, exchange-traded funds (ETFs), options, and a wide range of cryptocurrency investing and trading products. In no time, Robinhood has emerged to become a safe and educational crypto platform for evaluating crypto asset inclusion and ensuring compliance with regulatory requirements. The Robinhood platform has been in the limelight off-late because of the set of cryptocurrencies it has added. In this article, we will throw light on the top 10 Cryptocurrencies added to the Robinhood platform recently. Have a look!
It is a decentralized platform hosted on a blockchain and is defined as an "algorithmic, autonomous interest rate protocol". Here, the users can earn interest by depositing crypto into lending pools that can be accessed by borrowers. With a maximum supply of 10 million COMP tokens, one can earn the same through lending/borrowing crypto assets on compound.
Solana is immensely popular in the cryptocurrency market because a good number of NFT marketplaces, including OpenSea, are integrated with it due to its facilitation of "smart contracts". With Solana's addition to the Robinhood platform, the latter has become a go-to crypto platform considering the critical role that the coin plays in web 3.
MATIC is the token of Polygon that has grabbed eyeballs as it is used for facilitating "fees, staking, and governance" on the network. As far as its supply is concerned, it is limited to a maximum supply of 10 billion units. Polygon is widely known for its security and privacy and is capable of processing up to 65,000 transactions per second.
Yet another "Ethereum-based" crypto that has been added recently to the Robinhood platform is Shiba Inu. The coin's transaction trail is hosted by the Ethereum blockchain. On the demand front, the coin could be looking at a boost thereby driving further growth for Robinhood's cryptocurrencies segment.
This crypto is inspired by Bitcoin and came into existence in the year 2011. As far as the technicality is concerned, Litecoin's main chain shares a slightly modified Bitcoin codebase. On the features side, Litecoin boasts lower transaction fees, faster transaction confirmations, and faster mining.
Bitcoin SV, created in 2018, is yet another cryptocurrency that makes it to the list of top 10 Cryptocurrencies added to the Robinhood platform recently. It is the result of a software upgrade to the Bitcoin Cash (BCH) protocol that resulted in a hard fork, which also created Bitcoin Cash ABC.
This currency began to be used in 2009, and since then, there was no looking back. Its implementation was released as open-source software. Bitcoin is by far the most popular cryptocurrency and finds itself in almost all cryptocurrency investments of investors. It is listed on numerous platforms and Robinhood is nowhere behind.
Yet another significant crypto that cannot go unnoticed is that of Ethereum, the second largest cryptocurrency by market capitalization after bitcoin. Ethereum is widely known for the reason that it allows users to create and exchange NFTs, and also how it caters to DeFi applications.
Talking about Ethereum Classic, is an open source, blockchain-based distributed computing platform that boasts of smart contract (scripting) functionality. What is worth a mention is the fact that it supports a modified version of Nakamoto consensus via transaction-based state transitions executed on a public Ethereum Virtual Machine (EVM).
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.