Robinhood : Lists Four New Crypto Assets

 Robinhood Lists Four New Crypto Assets

Robinhood Crypto is expanding its offerings with the addition of four new cryptocurrencies: Compound (COMP), Polygon (MATIC), Solana (SOL), and Shiba Inu (SHIB). In response to customer demand, Robinhood has rolled out wallets for token storage and now adds these assets to its platform. Robinhood aims to be the premier destination for crypto investment and has a strict evaluation process for asset listing to prioritize safety. While deposit and withdrawal capabilities for these new assets are not yet available, they can be bought and sold through the Robinhood app.

Compound (COMP)

Compound is a decentralized platform that enables developers to create financial applications. Established in 2017 by Robert Leshner and Geoffrey Hayes, it provides users with the ability to earn interest by depositing cryptocurrencies into lending pools that are accessible to borrowers. COMP, the Ethereum-based governance token, allows token holders and delegates to propose and vote on changes to the protocol. Users can earn COMP through lending or borrowing on the platform and there is a limited supply of 10 million COMP tokens.

Polygon (MATIC) 

MATIC is the token of Polygon (formerly Matic Network), a fast and efficient decentralized PoS blockchain built as a sidechain to Ethereum. With the capability to process up to 65,000 transactions per second and low network fees, Polygon was founded in 2017 by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. The MATIC token was launched in 2019 and is used for network fees, staking, and governance on Polygon. There is a maximum supply of 10 billion MATIC tokens. On Robinhood, MATIC can be held on either the Ethereum or Polygon network, as the token can be bridged between the two.

Shiba Inu (SHIB)

Shiba Inu (SHIB) is an Ethereum-based token that operates on the Ethereum blockchain. Launched in August 2020 as an alternative to Dogecoin (DOGE) by an anonymous creator known as Ryoshi, SHIB was created as a experiment in decentralized community building.

Solana (SOL) 

SOL is the token of Solana, a decentralized PoS blockchain designed for scalable and user-friendly decentralized applications. Founded in 2017 by Anatoly Yakovenko, Solana and its SOL token were launched in March 2020 by the Solana Foundation in Geneva and Solana Labs in San Francisco. Solana boasts fast transaction speeds of up to 65,000 per second and low fees by utilizing a combination of PoS and Proof-of-History consensus mechanisms. There is no maximum supply limit for SOL

Summary:

Robinhood has recently added four new cryptocurrencies to its platform - Compound (COMP), Polygon (MATIC), Solana (SOL), and Shiba Inu (SHIB). These new assets are now available to buy and sell on the Robinhood app.

Compound is an algorithmic interest rate protocol that allows users to earn interest by depositing crypto into lending pools. COMP, its Ethereum-based governance token, enables holders and delegates to vote on changes to the protocol.

MATIC is the token of Polygon, a fast and efficient PoS blockchain built as a sidechain to Ethereum. MATIC is used for network fees, staking, and governance on the Polygon network.

Shiba Inu (SHIB) is an Ethereum-based token created as an experiment in decentralized community building.

SOL is the token of Solana, a decentralized PoS blockchain designed for scalable and user-friendly decentralized applications. Solana can process up to 65,000 transactions per second with low fees.

Tips:

Do thorough research and analysis before investing in any cryptocurrency.

Diversify your portfolio to reduce risk.

Always keep track of market trends and developments in the crypto world.

Store your cryptocurrencies in a secure wallet to protect your investments.

Make sure to understand the potential risks involved in investing in cryptocurrencies and always keep a portion of your portfolio in more stable 

investments.

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