Robinhood Launches Crypto App in the EU with Bitcoin Rewards Program
Trading platform Robinhood has announced the launch of its crypto app in the European Union (EU). The app will be available to all eligible customers in the EU and comes with a rewards program based on trading volume. Customers will earn a percentage of their trading volume back each month in Bitcoin (BTC), which will be deposited directly into their accounts.
Bitcoin Rewards Program Details
The Bitcoin rewards program on Robinhood Crypto offers different percentages based on trading volume. It starts at 0.10% for volumes between €0.10 and €100,000 and scales up to 0.325% for volumes over €1 million. The rewarded BTC will be locked to the user’s account for 30 days after it is granted. To receive the reward, users need to trade over €100 in a month; otherwise, the rewards will be rolled over until they reach the €100 threshold.
Referral Program and Additional Features
Alongside the rewards program, Robinhood Crypto also offers a referral program where users can earn up to 1 BTC for signing up and referring friends. However, the majority of rewards are worth €10–€20 in BTC, with only 2% of participants receiving a full 1 BTC.
The app launches with trading available for over 25 cryptocurrencies, including Bitcoin and Ethereum. Additional features such as crypto transfers, crypto staking, and crypto learning rewards are promised for 2024. Initially, users will not be able to transfer crypto in and out of the platform, but Robinhood plans to make this feature available in the future.
EU Expansion and Regulation
The launch of Robinhood Crypto in the EU follows its recent expansion into the UK market. The decision to anchor the platform’s international expansion plans in the EU was influenced by the region’s comprehensive crypto asset regulation. The EU’s Markets in Crypto Assets (MiCA) regulation, passed earlier this year, provides a unified approach to crypto asset regulation across all 27 EU member states.
Availability and Downloads
The Robinhood Crypto app is available for EU citizens aged over 18 in eligible countries. It can be downloaded from Apple’s iOS App Store and Google Play.
Hot Take: Robinhood Expands Crypto App to the EU with Bitcoin Rewards Program
Robinhood’s launch of its crypto app in the EU demonstrates its commitment to expanding its cryptocurrency services globally. By offering a rewards program based on trading volume, Robinhood aims to incentivize users to engage more actively in crypto trading. The launch comes at a time when the EU has implemented comprehensive crypto asset regulation, providing a favorable environment for Robinhood’s expansion plans. With additional features promised for the future, Robinhood aims to attract more users and solidify its position as a leading trading platform in the crypto space.
By
By
By
