Robinhood, A Popular Commission-Free Investment Platform, Surprised Crypto Investors In January

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24 that it will remove Bitcoin Satoshi Vision from its exchange listings (BSV). The news has sent shockwaves throughout the crypto community as other coins remain unaffected. According to Robinhood’s statement, the delisting is set to take place on January 25.

This follows recent controversies surrounding Craig Wright and his continuous false claims of being Satoshi Nakamoto, the creator of Bitcoin. Wright’s identity as Satoshi Nakamoto has been questioned, but it hasn’t stopped the speculation.

Robinhood stopped supporting BSV for consumer “health and safety”

Since dropping support for BSV was deemed necessary to ensure the “safety and health” of its users, Robinhood decided to do so. The app originally supported BSV back in late 2018. Users can trade BSV until the deadline and liquidate any leftover BSV at market pricing.

Cryptocurrency app Robinhood has announced that it will be delisting Bitcoin SV (BSV) on December 29, 2019. BSV is the Bitcoin fork created by self-proclaimed Satoshi Craig Wright and has been controversial in the crypto world.

Earlier this year, several exchanges followed suit and delisted BSV, including Binance, Kraken, ShapeShift, and Blockchain. Among other things, it needs more liquidity or practical utility.

Users can either send BSV to the token wallet of their choice or sell it for USD and processed cash. There are a few options for those who want to keep their Bitcoin SV tokens but don’t want to sell them off for money.

The first is to transfer the tokens from the current wallet into another wallet that supports such tokens. This is an easy process and can be done quickly with minimal effort. The second option is selling the tickets by connecting with buyers online.

Should only use this option for serious business transactions

To determine a fair price, users should investigate their token’s value. New cryptocurrency listings were announced months after Robinhood expanded its listing of cryptocurrencies significantly. Robinhood’s crypto adventure has come to an abrupt stop.

The popular stock-trading software is delisting many coins only months after adding more. The delisted tokens include Polygon (MATIC), Cardano (ADA), Chainlink (LINK), Solana (SOL), Compound (COMP), and Shiba Inu (SHIB).

This news shocked most users, considering they only added these cryptos in September 2020. The tokens were supposed to stay, but the poor trading volume and user interest may have led to the decision.

It remains to be seen why Robinhood suddenly removed these coins from its platform without prior warning or explanation. Robinhood allowed MATIC deposits and withdrawals on the Polygon network to reduce costs and enhance performance.

Robinhood, a renowned US stock trading platform, has accepted MATIC token deposits and withdrawals on Polygon. Traders of this digital asset will benefit from lower costs and faster transactions.

Polygon is Ethereum’s answer to scalability issues

The Polygon network is a scaling solution for Ethereum and enables faster transactions at lower prices using sidechains. It adds security by letting users utilize DApps while still accessing cash on the main Ethereum network.

Robinhood has made MATIC transactions faster and cheaper by permitting deposits and withdrawals on this network. Robinhood’s introduction of MATIC gives investors better speed when trading in Polygon.

BSV’s November 2018 preliminary debut was one of the initial events of its volatile lifecycle. In January 2021, the primary coin dropped from 10th to 52nd in the cryptocurrency rankings, although financial markets didn’t see any major rise.

BSV, formerly known as Bitcoin SV (Satoshi’s Vision), has had a turbulent ride since its introduction in November 2018. The contentious cryptocurrency, a derivative of Bitcoin, surged to renown but failed to grow during the 2021 bull market.

Despite all the excitement and interest, BSV’s value has steadily declined. They are falling from position 51 to 52 with a market cap of $760m on CoinMarketCap. Analysts believe BSV’s dismal performance in recent years is due to low adoption.

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