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Robinhood adds Stellar (XLM) to crypto transfers, enhancing user options and offering a 1% bonus for XLM deposits on the platform.
Key Notes
Users can earn a 1% bonus on deposits made in XLM as part of a special promotion.The platform supports other major cryptocurrencies like Bitcoin, Ethereum, and Solana, increasing user options.Recent updates also include the launch of margin investing in the UK, offering more flexibility for users' investment strategies.Robinhood Crypto EU shared on its X page that it has added Stellar (XLM) to its crypto transfer features. This new addition lets users withdraw and deposit XLM XLM $0.09 24h volatility: 1.3% Market cap: $2.81 B Vol. 24h: $61.67 M on the platform, adding more options for digital transactions.
The exchange said it is offering a special offer where users who deposit XLM will get a 1% bonus on their deposit. The crypto transfers feature supports more than just XLM; it supports over 20 cryptos, including big names like Bitcoin BTC $66 698 24h volatility: 0.7% Market cap: $1.32 T Vol. 24h: $27.30 B , Ethereum ETH $2 575 24h volatility: 1.8% Market cap: $310.00 B Vol. 24h: $14.25 B , and Solana SOL $168.4 24h volatility: 0.2% Market cap: $79.12 B Vol. 24h: $3.61 B , giving users more control and security over their money.
Robinhood Crypto now supports $XLM transfers.
Withdraw and Deposit #XLM with a 1% deposit bonus for a limited time.
Terms apply. Download the app: https://t.co/sb4gDoO6Ls#RobinhoodOnchain pic.twitter.com/sONd3LIhuY
— Robinhood Crypto EU (@RobinhoodCrypto) October 23, 2024
The addition of XLM has sparked discussions about whether XRP XRP $0.53 24h volatility: 0.9% Market cap: $29.96 B Vol. 24h: $1.17 B will be the next cryptocurrency added to Robinhood‘s transfer features. Even though XRP can be traded on the platform, only people in the EU can use it. These questions are growing stronger due to rumours about a possible XRP ETF launch, which has grabbed the interest of traders and investors.
The price of XLM hasn’t changed much after the news, as it dropped by over 1% in the last 24 hours. However, trading volume went up by more than 20%, showing that people are still trading the token a lot. Right now, the price of XLM is $0.09408.
Johann Kerbrat, VP and GM of Robinhood Crypto, revealed the importance of the crypto transfer in Europe, saying the exchange is making self-custody and entering the DeFi space simpler and more accessible for their customers. He assured users that, even with the added functionality of deposits and withdrawals, Robinhood will maintain its core principles of providing a secure, affordable, and dependable service.
Robinhood’s Latest Moves: Margin Investing in the UK and Solana Transfers
In addition to expanding crypto transfers, Robinhood launched margin investing in the UK on October 21. This new feature allows users to borrow money from Robinhood to make larger investments, increasing their potential returns. Jordan Sinclair, President of Robinhood UK, explained that the exchange is offering UK customers more flexible ways to enhance their investment strategies, while also promoting its competitive borrowing rates.
Robinhood also recently added Solana to its crypto transfer lineup, amidst rising excitement over a possible Solana ETF launch. However, several tokens, including Ripple’s XRP, zkSync, and Wormhole, were left out of the latest transfer feature update, keeping users eagerly anticipating future developments.
Thus, with the latest addition of XLM to Robinhood crypto transfer, crypto traders will be watching closely to see if XRP will soon join the ranks of supported assets, potentially attracting even more users to the platform and increasing trading activity in the crypto space, despite not seeing the effect yet on XLM. The addition could still possibly cause the price of XRP to spike within the short and long term.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
