Businesshala News Exclusive | Investing Platform Launches Crypto Trading

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The company will offer trading in 10 cryptocurrencies including bitcoin and dogecoin

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Starting Thursday, will gradually begin rolling out the offering to the majority of users who will be able to buy, sell and hold 10 cryptocurrencies, including Bitcoin, Ether, the Joke cryptocurrency Dogecoin and Cardano’s ADA token. The company said that New York residents are currently ineligible to trade digital assets because its servicing partners do not yet have the required licenses in the state.

- Advertisement -’s offering comes as individual investors are turning to cryptocurrencies, fascinated by the potential for huge investment gains. Bitcoin has risen recently, ending Thursday at $54,204.61 as of 5 p.m. ET, bringing its month-to-date gains to nearly 25% of altcoins, or bitcoin alternatives, up this year as well. , in which Dogecoin’s year-on-year returns exceeded 4,800. %.

“Cryptocurrency has really attracted a new generation of investors as an asset class,” said Stephen Sykes, chief operating officer of “We also think… there is some legitimacy to the inclusion of crypto within a broadly diversified portfolio.”

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In the fast-growing retail-investing space, is a small competitor to giants like Robinhood or Fidelity Investments Inc. The company says it has over 1 million members, 90% of whom are first-time investors. In February, the company announced a fund raise that raised its valuation to $1.2 billion. Celebrities, including actor Will Smith, have supported the company through Dreamers VC, the venture capital fund he co-founded.’s trading platform includes social features that allow users to follow other investors and share ideas. The company has also taken several decisions to help protect investors. In addition to restricting options and margin trading, has stepped in during volatile periods. It temporarily restricts users from buying shares of Hertz Global Holdings Inc.

The car-rental company’s share price jumped dramatically in 2020. During the meme-stock rally earlier this year, it added security labels that warn users about the potential for financial losses in stocks like Gamestop. Corporation

-Something they have done for other more volatile investments.

The company also ended its involvement in the widespread but controversial practice of pay for order flow, in which brokerages place orders to clients at high-speed trading firms in exchange for payment. Proponents of the practice say it enables free trading and allows individual investors to get a better price for their trade. Critics say it encourages brokers to repeat trading in order to maximize revenue. Instead of eliminating payment for order flow earlier this year, introduced a model that would give users the option to tip the company.

Since cryptocurrencies can be a highly volatile asset class, will include so-called volatility reminders on the cryptocurrency pages. will also offer crypto-focused educational content on the platform, said MaryAlexa Dever, Product Director at

Caitlin McCabe [email protected] Feather


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