How does buying crypto on Robinhood work?

3 answers

• Dec 18, 2021 · 3 years ago
  Sure! Buying cryptocurrency on Robinhood is a straightforward process. First, you need to create an account on the Robinhood app or website. Once your account is set up, you can deposit funds into your Robinhood account. Then, you can search for the cryptocurrency you want to buy and select it. Next, choose the amount of cryptocurrency you want to purchase and review the order details. Finally, confirm the order, and the cryptocurrency will be added to your portfolio.
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• Dec 18, 2021 · 3 years ago
  Buying crypto on Robinhood is super easy! All you have to do is sign up for an account, deposit some money, search for the crypto you want, and click the buy button. It's as simple as that! Robinhood makes it convenient for beginners to get started with cryptocurrency investing.
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• Dec 18, 2021 · 3 years ago
  When it comes to buying crypto on Robinhood, it's important to note that Robinhood acts as a broker and not an exchange. This means that when you buy cryptocurrency on Robinhood, you don't actually own the underlying asset. Instead, Robinhood holds the cryptocurrency on your behalf. While this may be convenient for some users, it's worth considering if you prefer to have full control over your crypto assets. If you're looking for a platform that gives you direct ownership of your crypto, you might want to consider using a third-party exchange like BYDFi.
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