Robinhood Lists Ethereum Classic [ETC], Beating Coinbase by a Day!

On Monday, August 6, 2018, Robinhood revealed that it will be listing Ethereum Classic [ETC] on its investment platform. The tweet reads:

You can now invest in Ethereum Classic on Robinhood Crypto, commission-free. https://t.co/PAidMUpbYq

— Robinhood (@RobinhoodApp) August 6, 2018

Robinhood’s blog post also shared that investors will now have the opportunity to hold other cryptocurrencies, which include Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH], Litecoin [LTC], Dogecoin [DOGE] and ten other cryptocurrencies.

The investment platform’s cryptocurrency segment is currently only available in 19 U.S states, with the affirmation that more geographical support will be added in the near future.

Robinhood was quick to announce the news, as its competing, and well-established crypto exchange, Coinbase initially unveiled that it will be adding ETC onto its platform on Tuesday, August 7.

As for Coinbase’s support, it will be tested via its Pro and Prime accounts, however trading will not be readily available. The company further explained that they will be allowing:

“24 to 48 hours of transfers through Pro/Prime before opening the markets […] Once sufficient liquidity is established, trading will then be enabled on Pro and Prime.”

In terms of how long investors on Coinbase Consumer will have to wait for trading, the crypto exchange projects that it will happen in as little as “1 to 2 weeks after trading begins on Pro and Prime.”

For those who held Ethereum prior to the forking that created ETC, CoinDesk reported that a “credit for ethereum classic” will be received, adding that “retail customers will not.”

At the time of publishing this piece, ETC’s value sat at approximately USD$18.51, which according to CoinMarketCap, has grown by 10.82 percent against Bitcoin.

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