Crypto and stock trading firm Robinhood is eying ways to remove volatility from the crypto equation or, at least, help consumers make better choices about cryptocurrencies.
According to Bloomberg earlier this week, the Robinhood is trying to shield consumers from volatility by introducing a special mechanism that “overrides” or modifies certain crypto transactions by factoring in volatility and what the potential risk to consumers is.
This is a first for the company which is trying to appeal to a younger generation with plenty of disposable income who may not be entirely aware of how cryptocurrencies work.
The protection feature will introduce some changes, such as skipping recurring orders or buying smaller amounts on specific occasions.
Robinhood CEO Vlad Tenev said that the company is “doing a lot of work behind the scenes to provide our crypto customers with the functionality that they’ve been asking for”.
Robinhood has had to take more serious measures into regulating how younger generations interact with cryptocurrencies as it enjoyed an influx of crypto enthusiasts in early January around the same time the Dogecoin hype train started.
Dogecoin eventually soared to $0.68 but crashed and Robinhood managed to position itself smartly in the crypto sector, admitting that much of its total revenue came from crypto transactions.
Today, Robinhood has every reason to want to ensure that consumers are enjoying a safe trading environment.