Back Home

Robinhood Rolls Out Shiba Inu Trading In 7th-Largest US State 4m ago by bitcoinist.com

Prev article Next article

The US-based cryptocurrency trading platform Robinhood has recently extended the Shiba Inu trading services to the 7th-largest state in the United States – the state of Nevada. This marks a significant step for the cryptocurrency platform.

Shiba Inu Is Now Tradable In Nevada

Robinhood Crypto is a trading platform designed for buying and selling assets in a user-friendly manner, with offerings of zero or no commission to its users to invest in stocks. However, it was not readily available in every state in the United States.

The trading platform is currently taking steps to change this as it announced that the cryptocurrency service is now available in the state of Nevada. It said this on its official customer’s consultant X (formerly Twitter) handle highlighting that a list of 15 cryptocurrencies is available for buying, selling, and transferring in this region along with a link.

The link in the announcement reveals that residents in Nevada and several other US states are now able to buy and sell SHIB on the crypto platform with no costs or commissions.

In addition, the trading platform further pointed out that cryptocurrency investors can now start trading Shiba Inu for as low as $1. Meanwhile, the token is not available for New York and Texas residents. 

In accordance with regulatory approval in each of the US jurisdictions, Robinhood Crypto separates tradable assets. For instance, just 15 digital assets are supported by the platform for buying, selling, and real-time market data on Robinhood Crypto. Cryptocurrencies such as Shiba Inu, Bitcoin (BTC), Ethereum (ETH), Chainlink (LINK), and Dogecoin (DOGE) are among these listed tokens.

The platform initially buttresses real-time market data for just over 50 digital assets for now. These include XRP, Binance Coin (BNB), Solana (SOL), and Cardano (ADA), among others.

It is worth noting that despite the availability of real-time market data for these tokens, it does not suggest that the platform has plans of listing these tokens yet.  However, the platform underscored a possible support of the buying and selling of the 50 tokens on the platform in the future.

Robinhood further assured the safety of users’ assets with the best level of security in the crypto industry. 

“We protect your crypto with industry-leading security, with nearly all of your crypto held in cold storage. We don’t lend it or leverage against it. We also perform regular audits,” it stated.

Robinhood Crypto Is Formidable With SHIB

In September 2023, Robinhood became one of the biggest players and holders in the Shiba Inu world, amassing up to 34 trillion SHIB tokens valued at approximately $279.85 million. 

It previously held a total of 20 trillion SHIB tokens, and later added an impressive 14.086 trillion SHIB tokens to its holding in September.

The trading platform’s achievement as one of the biggest holders of the SHIB tokens has since strengthened Robinhood’s standing in the cryptocurrency space.