Robinhood Enhances Crypto Trading on Android

Robinhood has added new trading features to its Android app, now offering stop-loss and stop-limit orders for cryptocurrency transactions.

This update matches the capabilities previously available to iOS users, allowing for automated trading based on specific price points to manage risks more effectively.

The integration of stop-loss and stop-limit orders into the Android app provides users with greater control over their crypto trades. This enhancement aims to help users lock in profits or prevent significant losses, features that were previously exclusive to iOS.

In July, Robinhood extended its crypto services to the U.S. Virgin Islands and Puerto Rico, enabling residents to trade 15 cryptocurrencies, including Bitcoin and Ethereum. This expansion positions Robinhood ahead of other major U.S. competitors.

The platform is also planning to introduce cryptocurrency futures in the U.S. and Europe, leveraging its upcoming acquisition of Bitstamp for $200 million. This move will enable Robinhood to offer futures contracts for Bitcoin and Ethereum.

Despite these advancements, Robinhood faces regulatory scrutiny, including a notice from the SEC regarding some tokens on its platform. Meanwhile, the company’s stock has recently seen a rise, trading at $20.28, up 1.50% from earlier lows.