The renowned trading platform Robinhood has added yet another feature. This new feature allows traders to withdraw their assets or cryptocurrencies including Dogecoin to transfer to other wallets.
Much Awaited Feature Finally Given
This move provides extra perks for Robinhood as this feature was a dire need in the ardent cryptocurrency trading community. Young traders are in possession of their private keys. The ability to be able to move coins from an exchange to an all-new different wallet opens up the window of new opportunities for traders. This in itself provides them an advantage over other trading platforms.
Robinhood previously was merely a platform for young traders to buy, hold and sell cryptocurrencies such as bitcoin for trading purposes. In addition, the inclusion of withdrawal options even that of the internet famed meme-based dogecoin opens up new arenas for Robinhood.
Elon Musk & Robinhood
The Billionaire Elon Musk has mentioned Robinhood directly as well as indirectly in several of his supposedly renowned tweets. The Tesla CEO in several instances has stated that the young trading platform Robinhood could be the owner of the world’s largest DOGE wallet address, DH5 which holds an astounding 28% of the entire circulating supply of the smiling Shiba-Inu internet meme coin. Elon Musk is one of his tweets has stated that he wants DOGE Investors to shed most of their coins citing the reason as “too much concentration” in the hands of a few whales. We don’t need big brains to figure out who he was referring to.
What Happened Before
In the previous month, Robinhood has placed several restrictions and closed the instant deposits feature. This feature is an absolute necessity when it comes to cryptocurrency trading. The reason stated by the company was that the price of DOGE ran up 800% and it was difficult to proceed without restricting the feature.
The trading company has also come under scrutiny recently when it suspended the purchase of Reddit-fueled stocks such as GameStop as well as AMC Entertainment Holdings as retail investors started indulging in a short squeeze.
As a platform Robinhood allows its users to buy and sell crypto like DOGE, BTC, ETH, and LTC, 24/7/365, and with the addition of the withdrawal feature, it only indicates that the company is committed to the goal of attracting more investors.
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