The prominent California-based digital asset trading platform Robinhood has made a significant extension of its cryptocurrency service to another region in the United States.
In particular, Robinhood has proclaimed that digital assets like Shiba Inu are now available in Nevada, a state in the Western region of the U.S. The digital asset firm conveyed the development in a recent post on the X platform.
Robinhood Crypto is now available in Nevada!
Buy, sell and transfer 15 cryptocurrencies! See list 🔗 https://t.co/er9TOpJm9Q
More info: https://t.co/uFJGPLZKQ8
— Robinhood Help (@AskRobinhood) October 25, 2023
Shiba Inu Now Tradable in Nevada
According to the link in the notification, Nevada residents and some other U.S. states can buy and sell Shiba Inu on Robinhood Crypto with no fees or commission. Furthermore, the firm noted that crypto enthusiasts can commence their Shiba Inu trading journey with as little as $1.
It is worth clarifying that Robinhood Crypto segregates tradable assets based on regulatory approval per U.S. jurisdictions. For example, the platform supports “buying, selling, and real-time market data” for only 15 digital assets on Robinhood Crypto. The tokens include Shiba Inu, Bitcoin (BTC), Ethereum (ETH), Chainlink (LINK), and Dogecoin (DOGE).
However, coins like Shiba Inu, Uniswap (UNI), and Stellar Lumens (XLM) are not tradable for New York residents.
Robinhood Supports only Market Data for XRP but Not Trading In Nevada.
Similarly, Robinhood Crypto supports real-time market data only for over 50 digital assets. It includes XRP, Binance Coin (BNB), Cardano (ADA), and Solana (SOL).
Besides, Robinhood disclaimed that the availability of real-time market data for the tokens does not indicate that the exchange has plans to list them. Yet, Robinhood highlighted that it may “add support for the ability to buy and sell” the over 50 tokens, including XRP, in the future.
Also, it is worth mentioning that Robinhood Crypto is available to all U.S. states except for Hawaii.
Notably, Robinhood Crypto claims to secure users’ assets with the best standard of security in the industry. The firm stated:
“We protect your crypto with industry-leading security, with nearly all of your crypto held in cold storage. We don’t lend it or leverage against it. We also perform regular audits.”