The Robinhood app will quickly make a change that would assist Dogecoin traders spend the cash they’ve earned by investing within the cryptocurrency.
What Robinhood did for Dogecoin
Robinhood CEO Vlad Tenev mentioned the Robinhood app — which permits individuals to commerce and spend money on cryptocurrencies — will attempt to make it so that individuals can simply withdraw and deposit cryptocurrency, in keeping with Business Insider.
That is in reference to Dallas Mavericks owner Mark Cuban, who mentioned Dogecoin’s greatest drawback is that the individuals who invested in it could possibly’t spend or withdrawn their holdings from Robinhood.
- “The best inhibitor to its development is that you would be able to’t spend the Doge you purchase on Robinhood,” Cuban tweeted.
Why can’t you spend Dogecoin?
- “Any holdings of Dogecoin, or different cryptocurrencies, on Robinhood are due to this fact successfully locked away and can’t be used to purchase items or providers,” in keeping with Business Insider. “This implies traders and customers of cryptocurrencies should have a separate account elsewhere in the event that they want to use their holdings in on a regular basis life.”
- “An funding in Dogecoin isn’t about creating wealth (though it could occur by chance) it’s about being part of one thing larger,” in keeping with Benzinga.