Cryptocurrency, particularly Bitcoin, seems to be getting more mainstream every day. Tesla CEO Elon Musk currently announced the acquisition of $1.five billion of bitcoin on Tesla’s stability sheet and kicked up buyers’ interest extra than ever before.
If you’ve traded shares and want to start trading cryptocurrency, you could need to start on Robinhood. Robinhood in particular supports stocks, but it also helps four cryptocurrencies: Bitcoin, Litecoin, Ethereum and Dogecoin.
How to Buy Crypto on Robinhood
Follow those smooth steps to open a Robinhood account and get started buying and selling crypto.
If you don’t have already got the choices Robinhood app, you’ll need to down load it on the choices app store. You can get Robinhood on iOS and Android, or you may make an account to your pc. Robinhood’s platform offers a streamlined consumer revel in. Its intention as a enterprise is to make making an investment reachable and simple for the common man or woman. It functions an intuitive user interface and if you’re simply beginning to make investments, start with Robinhood. Its mobile app helps you to music your portfolio on the go. The quality element about Robinhood is that you gained’t locate any hidden fees, and there are not any prices to deposit or withdraw out of your financial institution account. You can opt into Robinhood’s top rate service, which offers you get right of entry to to financial derivatives, however this is absolutely optionally available.
Creating an account on Robinhood is a brief and smooth process. Signing up for a Robinhood account should take much less than 10 minutes. To create an account, you need to provide Robinhood some facts approximately yourself, including your name, e mail, deal with and Social Security quantity. Once your account is created, you’ll want to hyperlink a financial institution account to Robinhood so as to fund your account. To do so, you’ll want your bank account and routing numbers. Robinhood gives instant transfers as much as $1,000, so that you can begin buying and selling right away.If you recognize a friend who uses Robinhood, ask for a referral code –– Robinhood currently has a promoting occurring where you could earn a unfastened inventory with a referral code. Robinhood also offers Robinhood Gold as a premium carrier for as low as $five a month. Robinhood Gold lets you change with margin and deposit large quantities of cash.
Once you fund your account, you can buy crypto on Robinhood. Simply seek the cryptocurrency you need to buy in the seek tab and choose the choices coin you need to shop for. You can choose to region a market order or a restriction order for cryptocurrency on Robinhood. A market order purchases your crypto at market price, usually right away. With a restrict order, you place the choices rate you’re inclined to pay for the choices asset, and if a promote order at that charge is processed then your restrict order will be stuffed.Unless you’re a HODLer, you’ll want to sell your cryptocurrency for a profit sometime within the destiny. It’s frequently an amazing idea to promote off your cryptocurrency incrementally so that you don’t omit out on profits if your crypto continues appreciating. Once you sell your belongings on Robinhood, you may switch price range for your financial institution account after a couple days.
How to Deposit Bitcoin and Other Cryptos on Robinhood
Robinhood currently announced it plans to permit deposits of Bitcoin and cryptocurrencies, including dogecoin. The capability become introduced on Twitter, however no date for activation become shared. You can presently best buy and promote crypto assets inside the Robinhood app.
How to Withdraw Bitcoin and Other Cryptos on Robinhood
The new choice to withdraw crypto deposits also does no longer have a begin date. Robinhood plans to talk deposit and withdraw capability soon. At this time, Robinhood doesn’t help coin withdrawals.
Alternatives to Robinhood
There are masses of alternatives to shopping for crypto on Robinhood. The most not unusual way to buy cryptocurrency is thru a cryptocurrency change or brokerage. Coinbase, Gemini, eToro and Binance are all awesome options.
These crypto exchanges have numerous advantages over shopping for crypto on Robinhood. For one, devoted exchanges have extra accurate market expenses than Robinhood. It’s no longer uncommon for Robinhood to have a 2% to three% difference within the cryptocurrency price. Also, crypto brokerages offer a wider variety of altcoins. Altcoins are any cryptocurrency aside from Bitcoin.
Another benefit of the usage of a cryptocurrency brokerage as opposed to Robinhood: You can change against bitcoin. Instead of buying and selling altcoins against their USD value, you may alternate altcoins based on their value proportional to bitcoin, a wonderful function for anyone trying to growth the bitcoin cost in their portfolio.
With Robinhood halting trades of certain shares as of late, extra buyers are switching to other brokerages. Ultimately, you need to invest with a brokerage that makes you feel comfortable.
Robinhood simplest helps three altcoins –– one in all that’s a meme. Robinhood helps 3 altcoins: Ethereum, Litecoin and Dogecoin.
JOIN THE MOON OR BUST EMAIL LIST
Our team is diligently operating to hold up with tendencies inside the crypto markets. Keep updated on the choices modern day news and up-and-coming cash.
JOIN THE MOON OR BUST EMAIL LIST
Our group is diligently running to preserve up with trends inside the crypto markets. Keep up to date on the choices ultra-modern news and up-and-coming coins.
JOIN THE MOON OR BUST EMAIL LIST
Our team is diligently operating to keep up with tendencies in the crypto markets. Keep updated on the brand new information and up-and-coming coins.
Get Familiar with Buying Crypto on Robinhood
If you’re already familiar with Robinhood and don’t want to use a separate alternate for cryptocurrency investments, then you may have to make some sacrifices. (Check out Robinhood selections for more options.) Other than the shortage of cryptocurrency variety, Robinhood doesn’t deposit any real bitcoin into your account. With a cryptocurrency wallet, you truly own your crypto belongings.
For a few, the benefit of investing in crypto on Robinhood outweighs the shortage of variety and pseudo-ownership. Investors who use Robinhood don’t ought to song multiple brokerage accounts, learn new person interfaces or even recognize a way to use Bitcoin.
SoFi builds crypto products to help you buy, sell, and save your bitcoin and cryptocurrency. You should buy Bitcoin, Ethereum, Cardano, Solana, Chainlink, Uniswap and different DeFi tokens instantly. For a restricted time, get a $10 BTC bonus while you make your first exchange of $10 or more!
What you’ll get: a deep dive into applicable crypto initiatives, different insights into alt coins from the pros & extra!
NEW! Purchase $2 hundred really worth of crypto on ZenGo, get $10 cashback in Bitcoin with code: ZENX0B4G
Top Cryptocurrency News
Earn 9% on USDC stablecoin
Earn eight% on GUSD stablecoin
Earn four.5% on BTC and five% on ETH
Earn 6.2% on BTC and 5.three% on ETH
Learn more about the choices fine cryptocurrencies and altcoins you may buy based totally on VC-backing, era, charge and more.
Learn more approximately the high-quality cryptocurrency buying and selling structures to change your coins. Rankings are based totally on usability, costs and greater.
Discover the choices excellent crypto apps you could use for your iPhone or Android telephone, based on safety, information, availability and greater.
Is bitcoin a good funding? Learn extra approximately bitcoin and determine whether or not this cryptocurrency is the right investment for you.
This content material ought to not be interpreted as funding recommendation. Cryptocurrency is a unstable marketplace, do your impartial studies and most effective invest what you could afford to lose.