Contents
Everything you need to know about Robinhood and cryptocurrency trading.
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Introduction
Robinhood is a commission-free stock trading platform that has gained popularity in recent years. Some investors have wondered whether the platform also offers cryptocurrency trading. Unfortunately, as of right now, Robinhood does not offer any kind of cryptocurrency trading or storage. However, the company has plans to roll out crypto services in the future. In the meantime, investors who want to trade cryptocurrencies will need to use a different platform.
What is Robinhood?
Robinhood is an investing platform that allows you to buy and sell stocks, ETFs, options, and cryptos—all commission-free. They’ve changed the landscape of investing by making it free to trade most stocks and ETFs. No longer do investors have to pay $5-$10 per trade.
Does Robinhood have crypto?
Although Robinhood does not currently offer cryptocurrency trading, there are rumors that the company may add this feature in the future. For now, Robinhood does allow users to track the prices of Bitcoin, Ethereum, Litecoin, and other digital currencies.
How to buy crypto on Robinhood
Robinhood, the popular stock trading app, added cryptocurrency trading in early 2018. For a while, it was one of the only major brokerages to allow crypto trading. But does Robinhood still have crypto?
The answer is yes and no. Robinhood does allow you to buy and sell certain cryptocurrencies, but it does not offer all the features that a dedicated cryptocurrency exchange would. For example, you cannot transfer your crypto holdings off of Robinhood onto another platform or wallet.
If you’re looking to get into cryptocurrency trading, Robinhood is a decent option. However, if you’re looking for a full-fledged crypto experience, you’ll need to look elsewhere.
Fees
As a fee-based brokerage, commissions are not charged on trades but other fees may apply. These include account fees, transfer fees, and inactivity fees. Fees may also be incurred when using certain research tools and when making certain types of trades. For more information, please see our Robinhood Fee Schedule.
Pros and cons
Robinhood is a commission-free trading platform that allows you to buy and sell stocks, ETFs, options, and cryptocurrency. While Robinhood does offer crypto trading, there are some pros and cons to consider before making your decision.
Here are some of the pros:
-You can trade cryptocurrency without paying any commissions.
– Robinhood offers a mobile app that is convenient for on-the-go trading.
– You can set up price alerts for cryptocurrencies on Robinhood.
And here are some of the cons:
– Robinhood only offers spot trading for cryptocurrencies, so you cannot trade derivatives.
– Robinhood does not offer storage for your cryptocurrencies, so you will have to find another solution for that.
– The selection of cryptocurrencies on Robinhood is limited compared to other exchanges.
Conclusion
In conclusion, yes, Robinhood has crypto. They offer a limited selection of coins, but they are a reputable company with a good platform. If you’re looking to get into cryptocurrency trading, Robinhood is a good option.
