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TL;DR
Robinhood simply launched its ‘Join’ characteristic, which permits customers can join their Robinhood crypto wallets to commerce on choose decentralized exchanges.
…however why would the parents at Robinhood permit this? They run a buying and selling platform. They’re actually making it simpler for customers to assist their rivals.
By permitting integration to third-party exchanges, through the Join characteristic – Robinhood is ready to insert its personal know-how into its competitor’s person expertise.
Robinhood Join will imply all paths lead again to Robinhood’s buying and selling platform.
Full Story
That is like ‘Login with Fb,’ however for crypto buying and selling…
Robinhood, the inventory and crypto buying and selling app, simply launched its ‘Join’ characteristic.
Principally, customers can join their Robinhood crypto wallets to commerce on choose decentralized exchanges.
…however why would the parents at Robinhood permit this?
They run a buying and selling platform. They’re actually making it simpler for customers to assist their rivals.
It is truly a level-12-big-brain-move on Robinhood’s half.
It is the ol’ “cannibalize to win” technique – this is the way it works:
Decentralized exchanges allow you to commerce crypto to your hearts content material – however cashing out to a checking account? That is one other story.
Robinhood, alternatively, does assist crypto-to-fiat transfers (aka shifting from crypto to money).
So by permitting integration to third-party exchanges, through the Join characteristic – Robinhood is ready to insert its personal know-how into its competitor’s person expertise.
(The Join characteristic would be the ‘off-ramp’ for merchants).
It is the identical motive Fb allows you to sign-in to a variety of third celebration apps utilizing the ‘Login with Fb’ characteristic.
Why does Zuck need you to arrange your Tinder profile utilizing Fb?
(No shock right here) that candy candy knowledge baaaby!
The extra you employ Fb for different internet merchandise – the much less seemingly you’re to delete the app.
It is the identical for Robinhood Join – utilizing the characteristic will imply all paths lead again to Robinhood’s buying and selling platform.
Good!
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