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Robinhood Shiba Inu

Robinhood Rolls Out Shiba Inu Trading In 7th-Largest US State

Scott Matherson
by Scott Matherson
1 year ago
·
Posted in Shiba Inu
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

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.

Related Reading: Bitcoin Spot ETF: Crypto Research Firm Reveals What Will Happen In The First Three Years

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.

Shiba Inu price chart from Tradingview.com (Robinhood)

SHIB price continues recovery trend | Source: SHIBUSD on Tradingview.com

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. 

Related Reading: Mexico’s 3rd-Richest Man Wants Bitcoin Adoption As Alternative To Banks

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.

Featured image from Game Revolution, chart from Tradingview.com
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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