Starting in February, no-cost stock trading app Robinhood will allow users to trade Bitcoin and Ethereum with no fees whatsoever, the company has announced in a blog post Thursday, Jan. 25.

The announcement is a welcome one to users of other cryptocurrency exchanges who have grown accustomed to paying fees ranging from 0.1% to as high as 4% per transaction on platforms like Coinbase.

Robinhood is also allowing users to track the price of a number of other cryptocurrencies including Ripple and Litecoin, although the actual trading feature will only be available for Bitcoin and Ethereum.

The company's intention is to use the zero-fee cryptocurrency trading feature as a "loss-leader", allowing it to bring more traders onto its platform, which can already boast more than 3 mln users.