Robinhood Announces ETC Addition to Crypto App
On the 6th of August, Robinhood has made an announcement to its users that Ethereum Classic investments were now available, one day prior to the same addition by Coinbase. Reporting through a blog, Robinhood revealed the launch of the new feature on its application, the Robinhood Crypto app, and the service will be available only for resident users within the 19 states in which the company operates. Trading availability will be present in BTC, Ethereum, BCH, LTC and other cryptocurrencies.
Coinbase also plans on launching full Ethereum Classic support on its platform on the 7th of August. Additionally, the company already entered the last testing phase for ETC and will begin transactions with the currency on the 7th of this month. For now, only premium customers using Coinbase Pro or Prime will be able to use the new feature.
As Coinbase explains, a one to a two-day period of the new feature operating and being used on Coinbase Prime and Pro will occur and all related books to ETC will be available for about 10 minutes in total. Trading will begin on both platforms when enough liquidity has happened and adds that it will also be available on its Consumer platform following these events and possible two-week wait once trading takes place on the initial two platforms.
Any veteran user of Coinbases Prime and Pro that previously owned Ether before the fork event 2 years ago will be granted credit for ETC although retail investors will not be granted the same credit due to the fact that ETH had no support prior to the split. The initial announcement of adding ETC to their platform was made in June 2018, with Coinbase stating that ETC was perfectly suited for its method of operation in crypto and blockchain. Following this previous announcement, Ethereum Classic saw a 25% spike in price in just half an hour, climbing over $16 in value and currently trades at $17.72 on the market.