Re:Robinhood Opens Cryptocurrency Trading
by christophclarke on Thursday February 22, 2018 @12:24PM
(#16439273)
so far in the market I feel like Coinbase has acted as one of the only – and certainly most vocal – trustworthy marketplaces. Especially with a concept like cryptocurrency which in and of itself seems a bit "sketchy" to most (especially becuase of its association with black markets), many competing marketplaces dont instill a lot of confidence in users. That may be something as simple as UX/UI or branding, either of which would solidly add Robinhood into the "easy to understand for non-techies" category along with Coinbase.
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Re:Robinhood Opens Cryptocurrency Trading
by greenleafjacob on Thursday February 22, 2018 @12:25PM
(#16439284)
What about Gemini?
Re:Robinhood Opens Cryptocurrency Trading
by christophclarke on Thursday February 22, 2018 @12:33PM
(#16439363)
Disclaimer: I have not used gemini.
On first glance, it seems to fall into the category of "not-intimidating" along with the previously mentioned markets. The point i was trying to illustrate was that there are many laces on the web that skew much more towards LocalBitcoins or the like*.
A lot of these kind of sketchy sites have been stomped out in the frenzy that was the Bitcoin Bubble, being replaced by these more legitimate - at least at first glance - sites.
As more scandals like Mt. Gox etc arise, however, trust in the currency - and random places on the internet to buy and sell said currency - will drop, leaving only those more "reputable" and known brands like Coinbase and Robinhood behind.
I signed up for it weeks ago but they haven't verified my ID yet and haven't responded to inquiries about how long it will take. It'll be 4 weeks this weekend. Also, their process to link my bank account felt like a scam - they required a huge amount of information that traditional banking institutions don't need to withdraw/transfer. It needed my bank account password(!) and all of my security question answers! Plus copies of my ID.