Robinhood will Bring Lots of Retail Investors into the Crypto Market, Believes David Gokhshtein

Robinhood holds the key to bringing in more retail investors into the crypto market, believes David Gokhshtein. The founder of Gokhshtein Media and CEO of PAC Protocol has been repeating the statements consistently for three months. There is truth to the statements as Robinhood has a larger set of customers and could open the doors to millions of first-time crypto investors.

READ ALSO: Do You Need a Wallet to Buy Crypto on Robinhood?

“Robinhood will bring in a ton of new retail buyers into the #crypto industry. More than Coinbase,” tweeted Gokhshtein. A quick search on his timeline shows that he firmly believes in the notion and he is right.

The leading exchange platform is currently working on their much awaited ‘Crypto Wallet‘. However, Robinhood has not confirmed the release date of the product yet. Speculations are rife that Robinhood could launch it by March 2022, but there’s no official confirmation about the same.

”Once Robinhood activates crypto wallets on its platform, I believe it’ll become the most popular application to use for new retail investors. Robinhood already have cryptocurrencies available on their platforms and it’s been a huge success for them. Having wallets implemented would allow more users to join over to the platform from other applications,”

– David Gokhshtein in an interview with the International Business Times

At present Robinhood allows its customers to trade only seven cryptocurrencies. They include, Bitcoin, Ethereum, Dogecoin, Litecoin, Bitcoin Cash, Bitcoin SV and Ethereum Classic.

“It’s something that our teams are working on. The ability to deposit and withdraw cryptocurrencies is tricky to do with scale, and we want to make sure it’s done correctly and properly,” said CEO Vlad Tenev told Bloomberg on the upcoming crypto wallet.

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Robinhood saw exponential growth after listing cryptocurrencies and made a chunk of profits through it. Cryptocurrencies pulled Robinhood out of their financial losses and delivered steady gains in 2021.

Hey Robinhood, When SHIB?

Robinhood listing Shiba Inu reached a feverous pitch over the last three months but the exchange platform didn’t get SHIB inboard. Its crypto division head Christine Brown said in an interview with Decrypt that they’re not racing to list Shiba Inu.

Despite all of these, investors still believe that Robinhood will soon list SHIB as they’re eager to see their revenues increase. However, the day RH lists SHIB, the meme-tokens price could skyrocket and reach a new all-time high.

At the time of publishing, Shiba Inu was trading at $0.00003680 and is up +1.93% in the 24-hours day trade.