Robinhood has launched its Robinhood Crypto app in the European Union (EU), offering a unique Bitcoin rewards feature. The custodial crypto platform allows customers to earn a percentage of their monthly trading volume in Bitcoin.
Users can also receive up to 1 BTC when signing up and referring friends. The rewards program, based on the total volume traded, ranges from 0.10% to 0.325%, with rewards locked to the account for 30 days.
The platform supports over 25 currencies and emphasizes safety and security. Robinhood Crypto aims to democratize finance, and the EU launch aligns with the region’s comprehensive crypto regulations.
Robinhood’s share price has recently surged, and its crypto trading volume rose by 75% in November.
After introducing its crypto trading services in the EU, Robinhood is gearing up for its UK debut in early 2024. This marks the platform’s third attempt to establish itself in the UK market, having faced challenges in 2019 and a failed acquisition in 2022.
The upcoming UK launch will feature 24-hour trading initially, with plans for UK stocks and additional options in the pipeline. Considering Robinhood’s foray into crypto trading and previous endeavors, a UK crypto offering from the platform seems likely shortly.
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