Will Coinbase compete against Robinhood as the go-to crypto application
The post Will Coinbase compete against Robinhood as the go-to crypto application appeared on BitcoinEthereumNews.com.
Coinbase and Robinhood may turn into fintech adversaries, as they try to onboard more users. The two apps aim to bring a smooth process and may be battling for the same user pool. Coinbase and Robinhood may start a battle to become the go-to fintech app for crypto usage. The apps may compete for onboarding, but also on conditions for activities such as trading and staking. Coinbase and Robinhood already bring in a similar range of monthly active users. Interest in retail access to investments, as a tool to offset inflation, drove the growth of the apps. For Coinbase, the 2024 bull market brought 8M monthly active users. Robinhood reported 11.9M monthly active users in 2024. Both apps show some setbacks since 2021, but are regaining confidence as investors return. The most interesting fintech battle for the next 5 years is going to be @coinbase vs @RobinhoodApp . Below are some of the battlefronts they’ll be competing on: 1. Trading. Coinbase charges trading fees, Robinhood does not. 2. Tokenization. Robinhood is already a registered… pic.twitter.com/von8p8jDGa — Michael Nadeau (@JustDeauIt) August 13, 2024 Robinhood lags as a crypto app Robinhood only offers around 35 crypto assets, and it’s especially limited to EU users. The app works as a simple brokerage, for exposure to already well-established coins and tokens. The careful selection of tokens, however, lags behind the crypto market. Robinhood still carries assets that have failed to recover and exist as ghost chains with almost no activity. The need for regulations means Robinhood lacks the infrastructure to quickly change its portfolio. For more conservative users, Robinhood remains a good source for exposure to blue-chip assets and stablecoin usage. In the coming years, Robinhood may expand its capacity to offer crypto access, after acquiring the Bitstamp exchange in June. The big problem…
Filed under: News - @ August 14, 2024 1:23 pm