Robinhood has a 'free money cheat' that allowed one user
COBINHOOD is the world's first "ZERO Trading Fees" cryptocurrency exchange with the vision to maximize traders' profits. Traders now can enjoy ZERO trading fees for spot trading and margin trading up to 10x leverage.
Last year I made money buying and selling on cobinhood as there were zero fees you could sell with small margins of profit but I made a few thousand pound buying and selling and withdrawing. I am sure many were in the same boat. They did do airdrops as they said they would. I did complain as I said a few times the problem was it made the rich richer but did help us small investors a little. The problem with this was like the advertising. It didn’t encourage us small investors to encourage people to join as they made so little as with the big investors it didn’t encourage them to get others involved as it cut down their potential to make more money. They had some big prizes for trading so why get others involved when the top holders could make it easily. I do not think there was a budget for advertising so the site didn’t attract the people who would invest and do icos . Because of the lack of investors it didn’t have enough people to make it pay so no income the site could not have survived . Another problem was the introduction of dexon which I did not invest in. Everyone seemed more interested in dexon than cobinhood I belive this was a scam as nothing ever happened even the web site dexon.org was for sale shortly after the ico finished. The main problem though from what I have read was popo. He spent millions on him and his then girlfriend including purchasing 4 lambos. This money would have been better spent on advertising. He did sack everyone and since the exchange has been going downhill ever since. I managed to take off most of the coins I had but all with the small amounts I had on I will probably loose. Many are saying they can no longer withdraw and I am a strong believer cobinhood is finished with no chance of a comeback. This was because I feel mainly lack of advertising to get the people involved and a lot of bad managment. If like it’s said on a number of posts that popo spent millions illegally then the law should take its route and he should get sentenced properly for what he has done. But I do belive as I said this project was never built as a scam but has failed by mismanagement and someone getting the chance to spend millions that he would not have a chance of and should not have spent them, I personally do not blame anyone of the other members of the team and feel they should be left to do whatever they want. There is one exception who is Wei-Ning Huang who was involved largley in dexon and has tried to do an ico on their technology already so be careful of him as well.
I have asked this many times in many of the different forums/channel but I never get an official answer. Margin trading doesn't exist yet Cobinhood seems to pretend it does when people ask why they should buy the token. Even the first bullet on the website claims "Traders now can enjoy ZERO trading fees for spot trading and margin trading up to 10x leverage." despite margin trading still not being available??? They don't even bother writing about it in the dev. updates anymore. Margin trading is really unique and was one of the key features of cobex when I decided to invest. When someone ask when the feature will arrive, Cobinhood reps disappear. The two reasons to buy cobs and fund the cobinhood exchange were 50% off margin trading and cheaper underwriting. Currently we have NO margin trading and NO upcoming underwritings. Now I hear rumors talking about some time in 2019. I really hope this is just rumors. Since you can't tell people your exchange will have a key feature if it "maybe" will have it OVER ONE YEAR AFTER LAUNCH. It's like claiming the new Tesla car will have a fusion reactor since it might be added in the future. I really hope this is just fud and rumors and that margin trading is coming soon (1 month-ish) as promised.
To solve this, the DEXON consensus algorithm has reinvented how blockchain technology works with its state-of-the-art blocklattice data structure. The DEXON consensus algorithm is infinitely scalable, low-latency, and Byzantine fault tolerant
The Robinhood Fiasco: What Happened? In the past couple of months, a small group of crafty-yet-foolish Robinhood customers realized that they could manipulate the trading app to obtain seemingly unlimited leverage through the use of options and margin.. These customers used this leverage to effectively gamble huge amounts of money on stock movements, while only having a small amount of funds A major source of income for the investment app is the company's margin trading service via Robinhood Gold - which starts at $6 a month, according to their site. The margin account's minimum While margin trading involves using borrowed money to buy securities such as stocks, short selling involves selling borrowed stocks or commodities (raw materials or crops, such as silver or corn). Here’s how short selling works: You borrow shares from a broker, sell them on the market, and then return an equal number of shares to the broker Trading, viewing account balances, and transferring money to and from a bank account is only available through the mobile trading app. Robinhood Customer Support The commission free trading offered by Robinhood comes at the expense of no brick and mortar stores, and no listed phone number for customer support. A Robinhood trader died by suicide last Friday following a mishap on the free stock-trading app, his family said. Alexander Kearns, 20, apparently saw a massive negative cash balance while trading
Robinhood Gold Explained, Is It Dangerous? What is Margin ...
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