Blockfolio has always been one of the favorite apps for cryptocurrency traders, because the app offers the ability to track cryptocurrencies, their trades, and their profits or losses over time.

The app has a user base of about 6 million users, so the app is off to a good start over the competition.

The launch of the new feature from “Blockfolio” comes five months after the company was acquired by leading crypto company FTX for $150 million.

Cryptocurrency exchange FTX acquires Blockfolio app…Details here

“Blockfolio” and More Cryptocurrency Trading Options:

This move comes one day after the famous trading platform, “Robin Hood”, suspended trading on the “GME” stock, which has spread recently.

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The new trading platform will put Blockfolio in direct competition with the likes of Robinhood and possibly even Coinbase, which still has some of the highest fees in the industry.

Jonathan Chu, Chief Product Officer, Blockfolio, told The Block:

There is a wave of new users entering the crypto space and needing simple and easy tools to help them navigate what can be a daunting industry.

Since we have always tried to be the most accessible companion app in the cryptocurrency industry, bringing simple, no-fee trading into the app was the natural next step for Blockfolio.

Sam Bankman-Fried, CEO of FTX, has posted some answers to early common questions about the new platform.

He stated that Blockfolio is open to US and international users and will offer crypto, stock, and equity services in some jurisdictions.

The fiat currencies will include the US dollar, the Brazilian real, the Australian dollar, and the euro in Europe.

He added that it will support ACH, which is a popular payment method for bank customers in the United States and various other countries around the world, with instant credit from CirclePay on the Solana network.

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There will also be a referral program to be announced.

Trade cryptocurrencies and stocks without fees. pic.twitter.com/uwKrP287gI

– Blockfolio (blockfolio) January 28, 2021

“Blockfolio” and trading without fees:

Circle co-founder and CEO Jeremy Allaire tweeted his approval of the new partnership by saying:

“Destroyer!!! Blockfolio.

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No Fee Crypto, Instant Funding, USDC Strength and Circle APIs

Kasper Johansen, founder of the Spartan Group, likened the launch to a massive earthquake in the financial industry, telling what it meant:

This is not just another product launch.

Plate tectonics does change in the financial markets, and in case you somehow missed the tremors, these tremors are 8.5 on the Richter scale.

More options for easy and hassle-free cryptocurrency trading could be good for the crypto market whose total market capitalization has risen again above $1 trillion.

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