Robinhood Crypto Launches Staking in Europe with Localized Apps to Follow
Robinhood Crypto is enhancing its offerings for European customers by introducing staking, localized apps, and various incentives. Starting May 15, 2024, European users can stake Solana (SOL) directly through the app and earn rewards with flexible unstaking options.
New users can also earn a 10% bonus on their net buys in the first 30 days, paid in USDC. The platform is launching local language versions of its app in Italy, Poland, and Lithuania to improve accessibility and user experience.
Additionally, Robinhood Crypto has launched 'Learn & Earn' modules focused on AVAX, BTC, and USDC, which will soon be available in multiple languages, including Italian, Polish, and Lithuanian.
These initiatives aim to attract new users, enhance education, and meet the specific needs of European crypto traders.
- Robinhood Crypto introduces staking for Solana (SOL) in Europe, offering additional income opportunities.
- New European customers receive a 10% bonus on net buys in the first 30 days, paid in USDC.
- Localized app versions in Italian, Polish, and Lithuanian enhance user experience.
- Launch of 'Learn & Earn' modules focused on AVAX, BTC, and USDC, promoting education and engagement.
- Bitcoin (BTC) remains the most held cryptocurrency on Robinhood Crypto in Europe, indicating strong user preference.
- Poland, Italy, and Lithuania are among the top countries for Robinhood Crypto app downloads, showing regional growth.
- Introduction of staking to Solana (SOL) only, which may not appeal to users holding other cryptocurrencies.
- Localized apps initially restricted to Italy, Poland, and Lithuania, potentially alienating users in other countries.
- The 10% bonus is a -time offer, which may not provide long-term value to new users.
- The launch of new features may increase operational costs, impacting profitability.
Insights
Robinhood Crypto's move to launch staking and localized apps in Europe signals a strategic focus on broadening its reach and improving user engagement in international markets. Staking Solana (SOL) directly through the app allows users to earn rewards, which can attract both seasoned and novice investors looking for passive income. The implementation of localized apps (starting with Italy, Poland and Lithuania) and rewards for new customers further enhances the user experience, making the platform more accessible and appealing.
Staking is the process of participating in the validation of transactions on a blockchain network and in return, participants earn rewards. For investors, this means a potential additional revenue stream without the need to actively trade.
The 10% bonus on net buys incentivizes new users to start with larger initial investments, potentially driving up trading volume. This strategy, combined with educational modules, aims to foster a more informed and invested user base, which could translate to higher retention rates and customer loyalty.
From a retail investor's perspective, these developments could make Robinhood Crypto a more attractive platform due to the added functionalities and user-centric improvements. However, potential investors should consider the volatility and regulatory landscape of the crypto market.
Robinhood Crypto's introduction of staking and regional customization in Europe can significantly impact its financial performance and market positioning. The addition of staking Solana (SOL) is expected to attract users looking for passive income opportunities, which can drive platform engagement and user growth. Historically, staking has generated consistent returns for similar platforms, suggesting that Robinhood Crypto could see an uptick in user activity and asset under management (AUM).
Financially, the 10% bonus on net buys could increase initial deposits, enhancing liquidity and potentially driving up trading volumes. However, the cost of these bonuses must be weighed against the expected long-term benefits of higher user retention and engagement.
The localized apps are a pivotal move as language barriers can deter user engagement. By addressing this, Robinhood Crypto could see improved user acquisition and satisfaction in non-English speaking markets. Additionally, introducing educational modules in local languages can elevate the platform's value proposition, leading to better-informed users who are more likely to stay engaged.
While these initiatives present positive growth prospects, investors should monitor any related costs and regulatory changes in Europe, which could affect overall profitability.
New Robinhood Crypto customers in Europe will also now earn a
MENLO PARK, Calif., May 15, 2024 (GLOBE NEWSWIRE) -- Today, Robinhood Crypto is excited to announce a series of new features specifically designed for its customers in Europe, including staking, localized apps, crypto rewards for new customers, and updated Learn & Earn modules. These updates aim to increase accessibility, improve the user experience, and reinforce our commitment to Europe-based crypto traders.
“Since launching at the end of last year, our customers in Europe have told us loud and clear that they want an app that provides local language support and products that help them earn additional passive income,” said Johann Kerbrat, VP and GM of Robinhood Crypto. “Robinhood Crypto is already one of the lowest cost places to trade on average with an easy-to-use interface that prioritizes education. Today’s news is a significant step forward in our mission to offer customers a more tailored in-app experience that meets their specific needs and helps them on their financial journey.”
Unlock the Power of Staking
Starting today, we’re introducing our first-ever crypto-staking product, which will be available exclusively to our customers in Europe. Robinhood Crypto customers can now stake their Solana (SOL) holdings directly through the app, allowing them to earn rewards with the flexibility to unstake at any time.
Boost Your Rewards
Beginning today, new customers can earn a
Localized Experiences Tailored to You
To better serve our customers, in the coming weeks we will begin launching local language versions of the Robinhood Crypto app, starting with users in Italy, Poland and Lithuania. Once available in those countries, customers will have their experience translated into their native language, giving them more confidence and comfort as they research their investments and place trades.
Expand Your Crypto Knowledge with Learn & Earn
Knowledge is power, especially in the world of digital assets. That’s why Robinhood Crypto has rolled out a suite of Learn & Earn modules focused on AVAX, BTC and USDC. These Learn and Earn modules are tailor-made to help customers understand different cryptocurrencies while earning rewards along the way. These educational modules will soon be available in multiple languages including Italian, Polish and Lithuanian.
Robinhood Crypto is always looking to improve the in-app experience to make sure it offers features and functionality that customers want. Since launching in December, here’s what we’ve seen and heard from customers:*
- Bitcoin (BTC), Dogwifhat (WIF), Solana (SOL), and Ethereum (ETH) have the highest total trade volume in Europe since launch.
- Bitcoin (BTC) remains the most held cryptocurrency on Robinhood Crypto in Europe.
- Poland, Italy, and Lithuania are among the top countries in Europe for Robinhood Crypto app downloads.
- Customers in Europe have told us that our Learn & Earn program provides outstanding value and that there's a significant appetite for educational content that rewards learning.
- Roughly a third of Robinhood Crypto users in Europe told us that this is their first crypto trading platform.
- Customers in Europe told us that ease of use is one of the primary factors they consider when deciding where to trade crypto.
About Robinhood Crypto
With Robinhood Crypto in Europe, customers own their crypto and Robinhood holds it securely on their behalf. Users can buy and sell 30+ cryptocurrencies, track real-time prices, and access charts to help fine-tune their trading strategy. They can also browse and learn about different digital assets, create watchlists, and monitor the latest news directly in the app.
To learn more about Robinhood Crypto in Europe visit Robinhood.com or visit the Help Center.
Disclosures:
*Maximum of
*Based on internal Robinhood data and field research conducted with Robinhood Crypto customers in the EU.
Crypto markets are highly volatile, and trading or holding crypto can lead to loss of your assets. Crypto is not legal tender, and is not backed by any government or covered by any government compensation scheme.
Crypto services are offered for eligible customers through an account with Robinhood Europe, UAB (company number 306377915), with its registered address at Mėsinių 5, LT-01133 Vilnius, Lithuania (“RHEC”). RHEC is registered according to the regulatory requirements of the Republic of Lithuania as a virtual currency exchange and virtual currency depository wallet operator. RHEC is supervised by the Lithuanian Financial Crime Investigation Service under the Ministry of the Interior of the Republic of Lithuania. RHEC is registered under No. RDWW-1076 in the register of virtual currency activities, kept by the Director of the Tax Administration Chamber in Katowice, in accordance with the Anti-Money Laundering and Counter-Terrorist Financing Act applicable in Poland. RHEC is also registered according to the regulatory requirements of the Republic of Italy in the special section of the register of bureaux de change (virtual currency and digital wallet services providers) kept by the Organismo Agenti e Mediatori (OAM) under No. PSV153. RHEC is subject to requirements and obligations applicable in the Republic of Italy in accordance with the Legislative Decree No. 231/2007 as to the prevention of the use of the financial system for the purpose of money laundering and terrorist financing and, to this end, is supervised by the Finance Intelligence Unit (Unità di Informazione Finanziaria – UIF) of the Bank of Italy.
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FAQ
What new feature did Robinhood Crypto introduce in Europe in May 2024?
What bonus do new Robinhood Crypto users in Europe receive?
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What are the 'Learn & Earn' modules focused on?
Which cryptocurrency has the highest total trade volume on Robinhood Crypto in Europe?
