How can I short sell cryptocurrencies on Robinhood?

3 answers

• Dec 19, 2021 · 3 years ago
  Sure! Short selling cryptocurrencies on Robinhood involves borrowing the cryptocurrency from a broker and selling it at the current market price. To do this, you need to have a margin account on Robinhood. Once you have a margin account, you can search for the cryptocurrency you want to short sell and select the 'Sell Short' option. Keep in mind that short selling is a risky strategy and you should carefully consider the market conditions before engaging in it.
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• Dec 19, 2021 · 3 years ago
  Short selling cryptocurrencies on Robinhood is pretty straightforward. First, you need to open a margin account on Robinhood. Then, you can search for the cryptocurrency you want to short sell and select the 'Sell Short' option. Robinhood will borrow the cryptocurrency on your behalf and sell it at the current market price. If the price of the cryptocurrency goes down, you can buy it back at a lower price and return it to the broker, making a profit from the price difference. However, if the price goes up, you may incur losses.
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• Dec 19, 2021 · 3 years ago
  Short selling cryptocurrencies on Robinhood is not currently supported. However, you can consider using other platforms like BYDFi, which allows you to short sell cryptocurrencies. On BYDFi, you can open a margin account and easily short sell the cryptocurrencies of your choice. Just make sure to do your research and understand the risks involved before engaging in short selling.
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