Volatility has always been a major worry for the crypto market. Prominent trading platform, Robinhood wanted people to stop riding the volatility wave and rather focus on reaping the benefits of the crypto-verse.
Robinhood elevated its presence in the crypto-verse this year. However, a small mistake of stopping its services amidst the crypto market’s volatile duration put the platform in a bad light. Despite garnering immense backlash for this, the platform managed to acquire significant gains during the first quarter of 2021. The platform certainly hasn’t lost interest in the crypto market as it was seen trying to address one of the major issues that the industry currently faces.
Several investors have been steering away from the crypto market citing high volatility. Officials from across the globe have been complaining about the same and fear that investors would endure huge losses. Therefore, Robinhood is reportedly working on a feature that protects users against the price volatility of cryptocurrencies.
Robinhood’s “price volatility protection” feature
According to Bloomberg, the trading firm will roll out the “price volatility protection,” feature allowing users to alter cryptocurrency orders based on the variation in the price. In addition to this, the platform would “sometimes skip your recurring orders or buy less than your chosen amount.” However, users would be alerted of the same before this function takes place.
The CEO of Robinhood, Vlad Tenev elaborated on this imminent feature and stated,
“We’ve been doing a lot of work behind the scenes to provide our crypto customers with the functionality that they’ve been asking for. We want to introduce new features safely, and there’s a lot of items we have to get right from the start.”
This latest feature would undoubtedly lure in an array of people into the market or at least those who have been sitting on the fence due to the volatile nature of the crypto-verse.