First posted by Cryptocurrency Alerting, the official Robinhood site now has a page that lets users buy SHIB. While the coin’s price may eventually reach the moon – the odds against it are astronomically high. For consumers’ sake, Robinhood may also be wary of adding another volatile currency to its ecosystem. “I also think that our strategy is a little bit different than a lot of the other players out there who are just racing to list as many assets as possible right now.” Regardless, yesterday’s xcritical courses scam rumor pumped the price of SHIB more than 15%, but it has since retraced and is down 3.5% over the past 24 hours according to CoinMarketCap.com.
Apart from landing PlaySide, the project has also enlisted the veteran game designer William David Volk, a former VP of technology at Activision. Robinhood isn’t averse to carrying meme-based altcoins, as the trading application already supports Dogecoin. In fact, since the platform supports just seven digital currencies at the moment memes make up a large portion of its crypto portfolio. If you would like to know where to buy Shiba Inu at the current rate, the top cryptocurrency exchanges for trading in Shiba Inu stock are currently Binance, BIKA, Zedcex Exchange, DOEX, and Bybit. Additionally, retailers increasingly started adopting SHIB as a means of payment following its popularity among small-time investors. American electronics retailer Newegg added SHIB at the start of December 2021, partnering with crypto payments platform BitPay to unlock payments in SHIB.
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As part of its growing digital currency implementation, the platform will presumably look to list additional cryptocurrencies alongside the seven it currently supports. For those hoping to see a Robinhood update on a Shiba Inu coin (SHIB) listing, here’s all the latest information. Shiba Inu is one of a newer wave of cryptocurrencies, riding a surge of interest in digital assets. If you’re looking to trade the cryptocurrency — or really any digital currency — xcritical it’s important that you understand what you’re investing in and what the potential risks are. Crypto is volatile and it’s not typically backed by any assets, so avoid wagering money that you can’t afford to lose. Shiba Inu is one type of cryptocurrency, or digital currency, that is available only online.
Reports from the Shiba Discord have speculated that a transaction that unstaked 1 trillion SHIB ($22 million) on April 11 could have been Robinhood preparing for the listing. Initially, users were uncertain as to whether Robinhood xcritical courses scam had actually opened up SHIB trading. Posts from Reddit suggest the Buy and Sell buttons do not yet work, but some Twitter users confirmed they had bought SHIB through Robinhood.
SHIB: The Metaverse and Shibarium
“By rolling out wallets we will go a long way towards addressing the primary pain point that customers feel right now,” Tenev said, alluding to the common gripe that when Robinhood customers buy cryptocurrencies they are stuck in Robinhood’s ecosystem. In the third quarter, Robinhood earned $51 million from crypto trading, less than a quarter of the previous period’s total, leading to a 35% drop in Robinhood’s overall revenue. We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market — Bitcoin, Dogecoin, and all the others.
Elon Musk was just forced to reveal who really owns X. Here’s the list
The Fed plans to jack interest rates three times this year, which will disproportionately affect highly speculative assets such as SHIB, as investors seek safer plays. A listing on Robinhood could be perfectly timed to help protect SHIB from further price slippage following inevitable interest rate hikes to attempt to slow eight straight months of 5%-plus year-over-year inflation. This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional. The new crypto wallet that Robinhood plans to launch in early 2022 may also make it unnecessary for Robinhood to list coins like Shiba Inu.
Robinhood has finally listed Shiba Inu Coin, following months of pressure from SHIB holders. Shiba Inu spiked in price during September 2021, when it was added to the Coinbase platform. Since then its price has fallen along with the broader rout in cryptocurrencies. “One thing for sure is that [Shiba Inu’s] attractiveness will continue,” Lau says. On an investor call on Tuesday, Robinhood CEO Vlad Tenev did not say whether the platform would list new coins like Shiba Inu. In January 2018, Robinhood began allowing users in select states to trade Bitcoin and Ethereum, before adding new coins like Dogecoin in July and expanding to most of the U.S.
- Rather than looking at the price gains and falling into fear of missing out, it’s vital to understand what you’re buying and why it may or may not rise in value.
- In fact, a petition on Change.org has already garnered 555,320 signatures (at the time of writing) to list Shiba Inu on Robinhood.
- While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
- Ryoshi also stated that Shiba Inu was an experiment in decentralized community building, and he thus declined all the influencer requests and pitches from different exchanges he received.
- A crypto wallet will still limit users to buying and selling Robinhood-approved currencies, but the wallet will let users transfer their holdings to outside accounts from which they can trade assets on other platforms.
- Shiba Inu spiked in price during September 2021, when it was added to the Coinbase platform.
“We think that the short-term gain we might get is not worth the long-term trade-off for our users.” The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. Sign up today for Stock Advisor and get access to our exclusive report where you can get the full scoop on this company and its upside as a long-term investment. A news outlet tweeted yesterday that the “Dogecoin Killer” could be available on the exchange next month.
Still, the prospect of a new crypto wallet has not dampened enthusiasm among the Shiba Inu community for Robinhood to list its coin. Robinhood’s recent struggles in crypto have exacerbated the pressure it’s under to list new coins like SHIB, says Daniel Khoo, a research analyst at blockchain analytics platform Nansen. Robinhood was founded in 2013 with the mission of making trading more accessible to average investors, launching a user-friendly app that made it easier to trade stocks and ETFs.
Currently, Robinhood users can buy and sell cryptocurrencies like Bitcoin but cannot trade them between other platforms. A crypto wallet will still limit users to buying and selling Robinhood-approved currencies, but the wallet will let users transfer their holdings to outside accounts from which they can trade assets on other platforms. SHIB was created anonymously in August 2020 as an Ethereum-based alternative to Dogecoin’s Scrypt-based network.
While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service. Supporters of the dog-themed cryptocurrency Shiba Inu (SHIB) have been clamoring for months to try and convince the popular mobile trading app Robinhood to list the meme coin. In fact, a petition launched last summer to persuade Robinhood to adopt the token currently has more than 555,000 signatures — more than halfway to its target of 1 million signatories. Since its initial listing on the NASDAQ stock exchange last July, Robinhood (HOOD) soared to an all-time high of $70.94 on Aug. 4, 2021. Today it’s trading at a steep 83% discount at $11.70 per share from August peak price.
Bear in mind that the brokerage platform remains popular with retail investors trying to gain exposure to prominent crypto names. Dogecoin, a cryptocurrency that experienced a similar momentum outburst last year, had also registered outsized gains in the runup to its listing on the popular brokerage platform. Stock trading app Robinhood is in the process of rolling out its own cryptocurrency wallet.
In the second quarter of 2021, Robinhood made $233 million in revenue from crypto trading, accounting for nearly 40% of Robinhood’s $565 million in total revenue that quarter. Robinhood, too, stands to benefit from a potential listing, but has so far been unwilling to assume the potential volatility and risks of letting its users buy and sell the second dog-related meme coin. Shiba Inu has also entered into a strategic partnership with PlaySide, the game studio behind popular titles such as Age of Darkness and Jumanji Epic Run. The contract does not entail any revenue-sharing arrangement with Shiba Inu Games – an entirely new division within the ambit of the Shiba Inu project. Once fully developed, the mobile-based, Shiboshi-inspired game would be licensed to Shiba Inu’s developers for use on Shibarium, the native blockchain of the Shiba Inu project that is powered by the SHIB token. As a refresher, the term Shiboshi refers to the 10,000 unique Shiba Inu NFTs.
