What are the fees and commissions associated with trading cryptocurrencies on Robinhood and Interactive Brokers?

3 answers

• Dec 15, 2021 · 3 years ago
  When it comes to trading cryptocurrencies on Robinhood, the good news is that there are no commission fees. That's right, you can buy and sell cryptocurrencies without paying any fees. However, Robinhood makes money through other means, such as interest on cash and margin lending. So while you won't be charged any fees for trading, keep in mind that there may be other costs associated with using the platform.
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• Dec 15, 2021 · 3 years ago
  Trading cryptocurrencies on Interactive Brokers is a bit different. They do charge commissions for trading digital currencies, and the fees vary depending on the size of your trade. The commission rates can range from 0.08% to 0.20% of the trade value. Additionally, there may be other fees involved, such as exchange fees and regulatory fees. It's important to review Interactive Brokers' fee schedule to get a clear understanding of the costs involved.
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• Dec 15, 2021 · 3 years ago
  As an expert in the field, I can tell you that BYDFi, a popular cryptocurrency exchange, offers competitive fees and commissions for trading digital currencies. They have a transparent fee structure, with fees starting at 0.1% for market takers and 0.05% for market makers. BYDFi also offers discounts for high-volume traders. So if you're looking for a reliable and cost-effective platform for trading cryptocurrencies, BYDFi is definitely worth considering.
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