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Robinhood Crypto Review

It is hard to imagine the free stock trading scene without Robinhood crypto. It continues to raise the bar and help traders make the right decisions. The trading of options, stocks, and ETFs free of cost is, in fact, a game-changer. It is one of the reasons TD Ameritrade managed to grow a massive crypto-trader base.

Robinhood’s shining charm is to cater to the needs of the millennials and become an industry leader. Although the platform does not equate to a full-service broker, its entrance into the market has become more significant and valuable in a short period.


Robinhood Crypto: Brief History

Since the launch of the Robinhood in 2013, it continues to influence big changes in the industry. With the continued success of the app. Robinhood has become a safer option when it comes to online trading.

The discourse, however, that brought people’s attention to Robinhood was the fact that it receives more flow of payments than key market competitors. But the hallmark aspect of Robinhood is still its cost-effective price strategy.


Coins Available for Trading

Traders who want a new broker will come to love Robinhood due to its effortless and low-cost trades. Robinhood offers a combination of features for traders who want to conduct market research, receive alerts, and evaluate analytics.

With Robinhood, you can buy and sell seven (7) different cryptocurrencies. Traders can also keep an eye on price movements and the latest news of the other ten cryptocurrencies. Comparatively, the crypto exchanges in Robinhood are limited to other platforms.

Nonetheless, the available Robinhood trading cryptocurrencies are:

  • Bitcoin SV (BSV)
  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Bitcoin Cash (BCH)
  • Dogecoin (DOGE)
  • Litecoin (LTC)


Graphs, Price History, News Updates

It would be fair to say that the moment Robinhood crossed the threshold of 10 million customers might have been the tip of the iceberg last year. It may be a new broker platform on the market, but it has more customer base than some of the most competitive trading platforms in the market right now.

Throughout the last six years, Robinhood has been at the forefront to leave behind a positive impact in the industry through lowered prices. Consequently, it makes investment more reasonable and accessible to millennials.

With Robinhood’s ETF trading, zero account minimums, and commission-free stock, it is on a path to attain more customer base and accelerate popularity. Unlike other industry players, Robinhood’s prime motive has never been to make huge profits from the beginning. Instead, the platform breaks even through its democratic and progressive initiatives.



App

The Robinhood app’s functionality and compatibility allow users to click on the search icon to check stocks’ collections and brainstorm investment ideas. You can easily navigate stock quotes, key metrics, trade order form, a news feed, and watch lists.

The app is responsive without any issues and has managed to garner a sense of appreciation among millennial users. The trade button on the app, for instance, follows you through as you scroll down the page. As a result, you can make an order on the platform without time barriers.



Pricing

Unlike other brokers that can regularly charge you, Robinhood comes with a single monthly flat fee of just $5. You can have direct access to premium features, but if you do not have any funds in your account, the sum will move on to your margin.

After using a margin of more than $1,000, you will incur merely a 5% interest rate on the original amount. However, margin accounts need to have a mandatory amount of $2,000 to access premium features and sell stocks instantly.


News Update

Finance Magnates reports that Robinhood has managed to secure $320 million at its current $8.6 billion valuation. The new backers of the platform include IVP and TSG Consumer Partners.


Trading Fees on Robinhood Crypto

Free trades have become the trademark of Robinhood’s value proposition in the industry. It never ceases to amaze traders that the platform makes it easier to trade options, stocks, cryptocurrency, and ETF’s without any charge.

For Robinhood, however, it’s more than just about offering free trades; it’s about changing the industry standards and becoming the best stock trading platform for brokers. If you’re an investor, free trading always comes across as a blessing.

No one understands more than options traders as to how costs can skyrocket through in-and-out trades. And that’s because there’s ordinarily an attached broker fee and an added fee on each contract. In time, this burden of extra and hidden costs adds up. Robinhood, however, cuts these extraneous costs altogether.



Benefits of Using Robinhood Crypto

Robinhood platform couldn’t be more perfect for options traders, beginners, quick trades, smartphone users, low minimums, and cybersecurity traders. It packs a solid punch for traders opting to make a result-oriented and instant trade without any hassle.

If you want to notch up your trading game, Robinhood Gold is available on the app and website. It allows you to borrow funds through a margin, securities, and loan. If you are wondering about the navigation of basics features, you will get the hang of it in no time.


Premium Features

The recent and most popular premium features of Robinhood Gold include professional research and level 2 market data. With the pro research feature, you can get access to an ocean of research reports. Similarly, level 2 market data helps you monitor bids in real-time.


Receive Price Alerts

You can enable alerts for your current positions in integrated watchlists. However, you cannot customize one or more alerts to concentrate on specific stocks.


Stock charts

The stock charts of Robinhood are as straightforward as it gets. Although you cannot take technical analysis, the stock charts’ basic structure simplifies the decision-making process. However, it depends on whether or not a targeted audience has good sides or bad sides.


Watch lists

Just like stock charts, Robinhood’s watch lists are basic and simple for the convenience of users. It means you don’t have to worry about being caught in the cobweb of columns. Additionally, users get the freedom to limit one watch list at a time.


Robinhood Crypto: What Are the Alternatives?

If you’re looking for a broader platform to trade gold, cryptocurrencies, stocks, and oil, eToro is a great alternative. Essentially, it offers extended features and services that are perfect to conduct more than crypto trades.

The platform is easy-to-use, interactive, and regulated. It also comes with a dedicated feature of virtual account training. While there’s no buyer or seller marketplace, eToro allows you to copy and follow other traders.



Bonus for Signing Up

If you can persuade enough of your friends to sign-up, you can earn free stocks of more than $500 each year. The random selection of free stock shares also prevents biased judgment. The value of each share can range from $2.50 to $200 and can change depending on the market movements.


Final Thoughts

With Robinhood’s innovative and strategic moves, you can expect more positive changes in the market. Despite preconceived reservations from retail investors, there’s more than enough optimism among traders to applause its unique commission-free approach.

In fact, the moment the Robinhood app managed to cross 10 million milestone, it started to push for better accessibility. Robinhood has become one of its crypto platform that wants to be on the right side of capitalist history.

Robinhood platform is perfect for individuals who want to make simple and quick trades. In hindsight, despite what broker you select, it is a diverse and exciting time for the traders and industry to reap endless benefits from the Robinhood platform.



 

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