There are many centralized exchange out there that wishes to make cryptocurrencies accessible to masses but are not in any way seen to be carrying out their activities successfully because, decentralized companies has already dominated the crypto industry.
However, just one centralized exchange platform seems to be pulling weight, leaving its competitors behind. It is known as “Robinhood Brokerage”. This is a centralized exchange platform that do not let their users to have control over the private keys, rather the company itself holds the key access to the every customers account. Despite its disadvantage, the company or firm is still gaining traction among crypto investors.
Two months ago, the platform officially launched its app and also, quickly added few cryptocurrency support to its platform, after the event, new users and clients started submitting requests to the company’s support firm so they would accept more cryptocurrencies on their platform.
Due to these requests, the company has decided to consider adding litecoin and bitcoin CASH to its feature. But the whole conclusion on the matter has not been made yet.
The company, Robinhood has only succeeded in dominating just 17 states of the United States, which is not up to standard, following the fact that company seeks to dethrone coinbase as the leading exchange trusted by newbies in the crypto industry. The major roadblock of Robinhood is the inability of users to have full control over their assets. It is totally different from what most investors intend to receive from the crypto industry. So we should not be surprised if we eventually hear that all centralized companies in the crypto world has disappeared into thin air.