Trading platform Robinhood is launching a crypto app in the European Union, a Bitcoin rewards program that allows customers to earn a percentage of their trading votes in BTC every month.
According to a blog post announcing the news, Robinhood Crypto will be issued to “all eligible customers in the European Union” alongside a rewards program based on customers' total trading volume. The referral program offers “up to 1 BTC” for signing up and referring up to 300 friends (though Robinhood is quick to note that “98% of rewards are worth €10-€20 in BTC” with a lucky 2% of participants receiving the full 1 BTC).
Bitcoin rewards on Robin Hood Crypto start at 0.10% for trade amounts between €0.10 and €100,000, rising to 0.325% for amounts above €1 million and are locked in the user's account for 30 days after approval. Users must trade over €100 in a month to receive the reward, otherwise they will be rolled over until they reach the €100 level.
The release of Robin Hood Crypto in the EU comes on the heels of last week's launch of Robin Hood UK. Including the platform, it starts trading more than 25 cryptocurrencies Bitcoin And EthereumThey promise more tokens, crypto transfers, crypto staking and crypto learning rewards in 2024.”
At the beginning of this year, the trading platform cut off its support Cardano, Polygon And Solana After the US Securities and Exchange Commission labeled them unregistered securities in a lawsuit against crypto exchanges Binance And Coinbase.
Robinhood Crypto GM Johannes Kerbart said in a statement announcing the launch that the cryptocurrency “plays an important role in our mission to democratize finance for all,” adding that the EU's “comprehensive” crypto asset regulation was decided to align the trading platform's global nature. Expansion plans in the region.
Seen as a landmark in crypto legislation, the EU Markets in Crypto Assets (MiCA) regulation was passed earlier this year. The law takes a uniform approach to the regulation of crypto assets in all 27 EU member states, meaning that companies approved in one EU country can access other markets in the union with minimal paperwork. It also imposes higher disclosure standards on crypto companies and regulates token issuers and crypto asset service providers.
The Robin Hood Crypto app is available to EU citizens over the age of 18 in eligible countries and can be downloaded on Apple's iOS App Store and Google Play.
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