HiTechEdge

Tag: Robinhood

  • Dogecoin Makes Up 62% of Robinhood’s Crypto Revenue

    Dogecoin Makes Up 62% of Robinhood’s Crypto Revenue

    Continuing its transformation into a serious cryptocurrency, Dogecoin now accounts for 62% of Robinhood’s crypto revenue.

    Robinhood issued its first quarterly report since going public, and the report shows the increased importance of crypto trading to the firm. According to CNBC, 52% of Robinhood’s transaction-based revenue came from crypto, reaching some $233 million. In comparison, crypto only accounted for $5 million in the year-ago quarter.

    The report also shows the increased importance of Dogecoin. Two months ago, Dogecoin made up 34% of the company’s crypto revenue. The company’s quarterly report, however, revealed that Dogecoin now makes up 62%.

    Given that Dogecoin began as a meme and a joke, Robinhood’s report is another indication of just how important the crypto has become.

  • Robinhood ‘Democratizing IPOs,’ Helping Users Get a Piece of the Action

    Robinhood ‘Democratizing IPOs,’ Helping Users Get a Piece of the Action

    Robinhood is looking to shakeup the IPO market by helping the average user buy shares of companies at IPO prices.

    IPOs are often where the biggest portion of wealth is made for many investors. Unfortunately, many IPOs are dominated by major investors and institutions, with the average person left out in the cold.

    Robinhood wants to change that with a new product that will put IPOs within the reach of anyone.

    Today, we’re starting to roll out IPO Access, a new product that will give you the opportunity to buy shares of companies at their IPO price, before trading on public exchanges. With IPO Access, you can now participate in upcoming IPOs with no account minimums.

    The company says IPO Access will be rolling out gradually over the next few weeks. In the meantime, customers wanting to learn more can check out the Help Center.