Trading platform Robinhood has launched a cryptocurrency app in the EU with a Bitcoin rewards program that allows customers to earn a percentage of their trading volume in BTC each month.
According to a blog post announcing the news, Robinhood Crypto will be rolling out to “all eligible customers in the European Union” with a rewards program based on a customer’s total trading volume, with Bitcoin rewards deposited into customers’ accounts. The referral program also offers “up to 1 BTC” when you sign up and refer up to 300 friends (Robinhood is quick to note that “98% of rewards are worth €10 to €20 in BTC,” but a lucky 2 % participants receive full 1 BTC).
Robinhood Crypto’s Bitcoin rewards start at 0.10% for trading volumes between €0.10 and €100,000, scale up to 0.325% for trading volumes over €1 million, and are locked to the user’s account for 30 days after being granted. Additionally, users must trade at least €100 per month to receive rewards. Otherwise it will roll over until the €100 threshold is reached.
Robinhood Crypto’s EU launch follows Robinhood’s UK launch last week. The platform launches with over 25 cryptocurrency exchanges, including: bitcoin and EthereumAdditional tokens, cryptocurrency transfers, cryptocurrency staking and cryptocurrency learning rewards are promised in 2024. At launch, users won’t be able to transfer cryptocurrency in or out of the platform, but Robinhood promises that “cryptocurrency transfers should be possible in the future.” “
The trading platform discontinued support earlier this year. Cardano, polygon and Solana After the U.S. Securities and Exchange Commission classified cryptocurrency exchanges as unregistered securities in a lawsuit against them. Binance and coinbase.
Robinhood Crypto GM Johann Kerbart said in a statement following the launch that cryptocurrencies “play a critical role in our mission to democratize finance for all,” adding that the EU’s “comprehensive” cryptocurrency asset regulation would help the trading platform’s global reach. He added that this influenced the decision to establish standards. Expansion plans within the region.
Considered a landmark in cryptocurrency legislation, the EU’s Markets in Cryptocurrency Assets (MiCA) Regulations were passed earlier this year. The bill takes a unified approach to cryptocurrency regulation across the 27 EU member states. This means that companies authorized in one EU country can access other markets in the bloc with minimal paperwork. It also imposes high disclosure standards on cryptocurrency companies and sets rules for token issuers and cryptocurrency asset service providers.
The Robinhood Crypto app is available to EU citizens 18 years of age or older in eligible countries and can be downloaded from Apple’s iOS App Store and Google Play.