Few days back we reported about Coinbase doing final tests to add Ethereum Classic on the platform and just a day before the addition, Robinhood, the commission free cryptocurrency trading app has announced the addition of Ethereum Classic to the platform.
Robinhood currently allows people to buy Bitcoin, Ethereum, Bitcoin Cash Litecoin, and DogeCoin and track prices of 10 cryptocurrencies. The company also allows trading in 19 different states in the United States. With Ethereum Classic being added to the platform, one would be able to trade 6 cryptocurrencies on the platform.
An announcement about listing it a day before Coinbase revives a rivalry between both the companies. This is for sure not a coincidence, Coinbase made clear announcement regarding the day on which it’ll list ETC on the platform. Despite knowing the announced date, Robinhood listed it, a day before Coinbases’ announced date. This for sure is an attack to Coinbase.
This is not first time both the companies have been involved in something like this, both the companies have reportedly tried to obtain banking licenses in the past and have been unsuccessful. However, Coinbase won’t let the normal customers buy the Ethereum Classic as it won’t be available for all consumers. It’ll be available on Coinbase Prime, Coinbase Pro from tomorrow, but will be available for all consumers once it has enough liquidity to meet consumer demand.
On the other hand, Robinhood is a commission free, and has made the cryptocurrency available to all the account holders. However, we at BlockPitch think that even after it listing the coin before Coinbases’ announced date, it won’t be able to attack it, as Coinbase has its operations in a lot of countries and not just United States.
