Robinhood Working on Enabling Cardano (ADA) Transfers

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Alex Dovb­nya

Robin­hood says that it is work­ing on enabling trans­fers for the Car­dano (ADA) cryp­tocur­ren­cy after launch­ing the fea­ture for oth­er avail­able coins 

Lead­ing bro­ker­age firm Robin­hood says that it is work­ing on enabling trans­fers for Car­dano (ADA).

As report­ed by U.Today, Robin­hood list­ed the ADA token on Sept. 1.

Pri­or to that, the zero-fee bro­ker­age ser­vice also added sup­port for Solana (SOL), Com­pound (COMP), Poly­gon (POL), and sev­er­al oth­er cryptocurrencies.

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Robin­hood launched Bit­coin trans­fers for all users in ear­ly July after orig­i­nal­ly start­ing test­ing the fea­ture last Sep­tem­ber. Users are able to move their coins in and out of the platform. 

The com­pa­ny doesn’t charge an addi­tion­al com­mis­sion for trans­fer­ring cryp­to out of its plat­form. How­ev­er, users are still required to pay net­work fees. 

Robin­hood users are required to go through the process of iden­ti­ty ver­i­fi­ca­tion by pro­vid­ing a pho­to of a gov­ern­ment-issued ID or a driver’s license in order to be able to move their coins.

The com­pa­ny has set a $5,000 dai­ly cap on out­bound transfers.

As of now, Robin­hood allows receiv­ing all of the coins that are cur­rent­ly avail­able on the plat­form (save for the recent­ly list­ed ADA token).

As report­ed by U.Today, the trad­ing plat­form start­ed offer­ing deposits and with­drawals for the MATIC token on the Poly­gon net­work, thus sub­stan­tial­ly low­er­ing fees.



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