Robinhood App: The Platform, Which Wants To Democratize The Stock Market, Is On The App Store With Its $ 16 Million Investment
The Robinhood, which received a total investment of $ 16 million before its release, which allows you to trade in the stock market with 0% commission, and reached 500 thousand registered users, is now on the Robinhood App Store.
Robinhood is one of the popular fintech startups of recent times. Plus, it comes with a promise that will live up to its name. While Robinhood aims to democratize the stock market, it also wants to change the stock market’s typical rich, 50-something investor profile. In this context, the average age of Robinhood App users is 26-27.
What Does Robinhood Provide to Users and In Which Countries Is It Available?
It’s easy to sign up for Robinhood’s Robinhood App, which makes it very easy to buy and sell shares on the stock market with zero commission. Just register with your e-mail account and define a login password or Touch ID. As a security measure, Robinhood asks you to enter your fingerprint or password every time you open the app. This prevents others from taking action for you.
Currently only USA uses Robinhood App. In addition, Robinhood works with 9 of the largest banks in the country. You only need to enter your name and password to pair your bank account with the application. Robinhood does not ask you for complex information such as account details, it does the rest itself.
Robinhood App’s Promises
The biggest innovation Robinhood has made for its promise to open the stock market to everyone is that it has not set any lower limit for trading. Therefore, Robinhood App users will be able to buy stocks with any money they want. This can create an opportunity that paves the way for young entrepreneurs and amateur entrepreneurs. However, Robinhood has ensured that users’ assets over $500,000 are protected by the SEC as an upper limit.
How to Use the Robinhood App
Robinhood App brings real-time information of dozens of stocks traded on US stock exchanges to your home screen, if you have registered and logged in. Of course, to start using the application from today, we skipped the stage where you wait for your turn to come to a queue with more than 400 thousand people in front of you.
All you have to do is select the stocks you want to follow with a single drag. To trade, you go to these shares and follow the sell or buy options in the menu. You can receive your requests during the day and get the results one day later.
What Are the Prospects for Robinhood?
We have high expectations for Robinhood App, which entered our lives about a year ago and received a total investment of $16 million from Google Ventures, Andressen Horowitz, Index Ventures and Ribbit Capital before it was launched.
Because, although there are many applications that allow buying and selling shares in the stock market to date, Robinhood makes a significant difference by coming with zero commission and focusing on growing the market aggressively.
Robinhood will earn income with standard interest from the funds that users add to their accounts in the first place. However, Robinhood will charge its own interest rate when it lends you a loan in exchange for buying on margin and selling your shares, or like a broker. A good deal if you ask us.
If you have not been able to start investing with stocks but due to the lower limit conditions of other platforms, we recommend you to take a look at Robinhood App. However, you must act quickly. Otherwise, another 400 thousand people can be added to the queue in front of you.