Robinhood Platform’s CEO Baiju Bhatt Believes Cryptos Are Here to Stay

June 18, 2018

Robinhood, a financial platform that is very user-intuitive and easy to use, is not one of the most used for crypto traders. But during the last months it has been trying to enter the market with different services for crypto clients. Now, its co-CEO, Baiju Bhatt, believes that the crypto market has a strong future ahead.

Bitcoin and Cryptos are Here to Stay

During an interview with Yahoo Finance, Baiju Bhatt, gave very promising comments about the future of the virtual currency market. He said that in the future, different countries will be adopting virtual currencies as a means of payment. 

At the moment, there are some countries where virtual currencies have been spreading, like Switzerland or Japan. There is an important amount of shops all over the world that are accepting cryptos for their services or products.

Moreover, he said that countries like Venezuela, with hyperinflationary rates will keep embracing Bitcoin and other cryptos to survive, store value or transact.

Mr. Bhatt commented about his involvement in the crypto arena:

“We have been thinking about it for a couple of years. We had been watching it (Bitcoin) over the years and we noticed one thing which we really looked at when considering when to offer it to our customers, which is its resiliency. It has this tenacity to it where it just keeps on coming back.”

Back in January, Robinhood announced that it was creating a service to trade some virtual currencies without trading fees. There was such an interest, that the mailing list received hundreds of thousands of registrations on the first ours it was possible to be registered.

At the moment, Robinhood it is available to just a few U.S. states and with very few crypto options. But this is just the beginning according to the company, that is working in order to offer new and different currencies in the future.

“We (Robinhood) think that we are good at building the best consumer products and making sure that we can offer them at the best prices,” he commented. “And while you may end up paying a fee of 4% perhaps more on Coinbase, on Robinhood it is free and we think our interface is easy to use as well.”

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