The residents of Georgia have reasons to rejoice. Robinhood, the charge-free stock trading platform, announced that investments in cryptocurrency via the app are now possible in the state.

Users in Georgia will be able to trade Dogecoin (DOGE), Bitcoin Cash (BCH), Litecoin (LCH), Ethereum (ETH), and Bitcoin (BTC). No change in the settings of their Robinhood app is required for the locals to trade in coins.

The free trading platform first started as a simple, no payment way for retail customers to invest. It is now slowly and steadily rolling out trading in cryptocurrencies to different states. This follows an announcement made earlier this year.

Accessibility And Restricted Wallet Alternatives

The trading platform states that it is rolling out slowly so that it can determine the interest of the investors. As things appear, it is clear that something is very right for the platform. The app is now appending more and more states that too at a very fast rate.

However, Robinhood has to cross many speed breakers in the form of regulations. Every state has its own regulations and the platform has to get clearance so that the residents can trade digital coins. Based on its support page, trading at present is accessible in more than 18 states.

At present, Robinhood is more of a curator of cryptocurrencies. Their private key is inaccessible by users. They don’t have a built-in wallet interface. Users will not be able to either receive or send coins through the app. The users at this stage can only purchase, hold, or maybe trade the currencies. On the other hand, Robinhood says that it has programs to add transfers ‘in the near future.’

Robinhood: Small Start To Moving On With Big Plans

Cryptocurrency trading made its initial launch in only four states. Later on, Iowa and New Jersey state residents were given the chance to invest in cryptocurrencies via the Robinhood app.

Robinhood’s blog has posted an update which reads as below: “With the release of Robinhood Crypto, we’re continuing our mission of making the financial system work for everyone, not just the wealthy.”

With more than 4 million users, Robinhood is sure to turn into one of the biggest crypto trading platforms. This will be true if and only if the roll out goes forward and runs smoothly. Experts believe that it can even overthrow Coinbase to become the most accepted swapping platform for Americans.