FinTech News
Robinhood Crypto Launches in EU with Bitcoin Back Offer
Robinhood Crypto is making its way to the European Union (EU).
About the rollout:
Robinhood has announced the rollout of its Robinhood Crypto platform in the EU. With the debut, eligible customers in supported countries will be able to trade more than 25 cryptocurrencies. Additionally, the company says that additional tokens, the ability to transfer coins, crypto learning rewards, and more will join the app in 2024.
In a unique feature, the EU Robinhood Crypto platform will allow customers to earn Bitcoin back. Each month, customers will earn a percentage of their trading volume back in the form of BTC. For example, those who trade between €0.10-€100,000 per month will earn a 0.10% reward. In order to earn the top-tier rate of 0.325% back, users will need to exceed one million Euros in trade volume. Additionally, customers must hold these rewards for at least 30 days.
To celebrate the launch, Robinhood is also offering a special bonus. Now, new customers can get up to 1 BTC when they sign up for Robinhood Crypto and trade at least €10. Meanwhile, existing customers can also get up to 1 BTC for each friend they refer to this offer. However, Robinhood does note that 98% of new user and referral rewards will actually be between €10 and €20.
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Meanwhile:
News of Robinhood Crypto’s launch in the EU happens to come on the heels of the core Robinhood app officially (and finally) launching in the United Kingdom. According to a blog post from the company, the app will grant access on a rolling basis before being fully available early next year. Those in the United Kingdom can join a waitlist to be notified when they can access the app.
What they’re saying:
Announcing the arrival of these features in Europe, Robinhood Crypto’s GM Johann Kerbrat said, “We believe crypto is the financial framework for tomorrow and that it plays a significant role in our mission to democratize finance for all. For this reason, we’re thrilled to expand crypto trading to customers throughout the EU, enabling them to buy and sell their favorite tokens safely and securely.” Kerbrat added, “The EU has developed one of the world’s most comprehensive policies for crypto asset regulation, which is why we chose the region to anchor Robinhood Crypto’s international expansion plans.”
My thoughts:
Initially, when I saw that the EU version of Robinhood Crypto was getting a feature with Bitcoin back, I was a bit jealous. But, after looking at the details of the offer, it doesn’t seem as though we Americans will be missing out on much. In any case, it is interesting to see Robinhood making two overseas expansions in one week. As someone who still enjoys Robinhood (and happens to have a couple of shares of their stock), I do hope that these new markets work out well for them.
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