According to reports, Coinbase’s biggest rival will be Robinhood Platform in the incoming future. Because of their money power to add features on their platform.
Coinbase is a Biggest Exchange of U.S and also has a better volume of traders. And also this Exchange is famous to serve their services in legal regions which are allowed to use Cryptocurrency.
But Binance like exchanges have a target to attract international & pro level traders. They are not limited to particular countries.
But here Coinbase has a goal to attract only those countries users where Cryptocurrency is fully legalised or there is no boundation or restrictions.
Coinbase is a U.S based Exchange, so their main goal is to engage and add users mainly from U.S region, so that they can give better facilities with fiat & crypto related trade services.
But now it is Robinhood which filed their application for the approval to start their Cryptocurrency services at an advanced level in the U.S.
When their files came into public domain after a week then many things revealed about Robinhood business in crypto.
From their existing business in Cryptocurrency, Robinhood $11 billion worth of bitcoin and also revealed that they have 6% of revenue from DogeCoin trade only.
And also the Robinhood team confirmed that this is the initial phase of their business. Soon they will facilitate the customers to move on and off their platform.
So in the future Robinhood will play as the biggest crypto company in the U.S.
This is really big news for the Crypto Community And everyone is happy to see such huge gains from Robinhood.
But there is one company which is not happy, this is Coinbase Pro exchange because Robinhood Platform is going to be its biggest rival.
Robinhood already has 18 million users and these users already did $9.5 million worth of trade in Q1. These records are of those users which are active and showing their activity on their platform.
And the main aim of Robinhood is to attract new people in the Cryptocurrency field.