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Mark Cuban calls Robinhood policy an obstacle to Dogecoin’s growth


Withdrawal restrictions on the Robinhood cryptocurrency trading app are the biggest obstacle to the price of Dogecoin, says billionaire Mark Cuban, owner of the Dallas Mavericks.

In his opinion, the meme cryptocurrency is the only coin that people actually use for transactions.

“We get a lot of others through BitPay. But people are spending Dogecoin, which means more commercial organizations will start taking it. The biggest obstacle to its growth is that you cannot spend the tokens purchased on Robinhood, ”Cuban wrote.

In March, the Dallas Mavericks became the first NBA club to accept Dogecoin for tickets, services and merchandise. According to BitPay, which provided the payment processing service, in April the number of transactions should reach 6000

Co-founder and CEO of Robinhood Vlad Tenev answered to criticism from the billionaire:

“We are working on deposits and withdrawals! Not just for Dogecoin, but for all coins on Robinhood Crypto. “

Despite the limited functions, the number of users of the company’s platform is growing rapidly, increasing from 1.7 million to 9.5 million in the first three months of 2021.

In March, Robinhood announced the addition of a crypto wallet to the service.

Cuban previously bought Dogecoin for his 11-year-old son for educational purposes.

According to the billionaire, 60% of his investment portfolio of digital assets is Bitcoin, 30% is Ethereum, and only 10% is accounted for by other coins.

Recall that in January, Cuban compared the first cryptocurrency with Amazon during the dot-com bubble.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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