How does buying crypto on Robinhood differ from buying on Coinbase?

3 answers

• Dec 18, 2021 · 3 years ago
  Sure! When it comes to buying crypto on Robinhood, one key difference is that you don't actually own the underlying asset. Instead, you're buying a contract that represents the value of the cryptocurrency. On the other hand, when you buy crypto on Coinbase, you're purchasing the actual cryptocurrency and you have full ownership and control over it. This means that if you want to transfer your crypto to an external wallet or use it for other purposes, you can do so with Coinbase but not with Robinhood.
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• Dec 18, 2021 · 3 years ago
  Buying crypto on Robinhood is more suitable for beginners or casual investors who are looking for a simple and user-friendly platform. Robinhood offers commission-free trading and a sleek interface, making it easy to get started. On the other hand, Coinbase is a more advanced platform that caters to experienced traders and investors. It offers a wider range of cryptocurrencies, advanced trading features, and better security measures. So, if you're looking for more options and advanced trading tools, Coinbase might be a better choice for you.
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• Dec 18, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I can tell you that buying crypto on Robinhood is a convenient option for those who are already using the Robinhood app for stock trading. It allows you to easily manage your stocks and crypto in one place. However, it's important to note that Robinhood has faced some criticism for its limited features and lack of transparency. On the other hand, Coinbase is a well-established and trusted platform in the crypto industry. It has a strong track record, robust security measures, and a wide range of features that cater to both beginners and advanced users. So, if you're looking for a reliable and feature-rich platform, Coinbase is a great choice.
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