What are the costs associated with trading cryptocurrencies on Robinhood?

3 answers

• Dec 19, 2021 · 3 years ago
  When it comes to trading cryptocurrencies on Robinhood, there are a few costs to consider. Firstly, Robinhood charges no commission fees for buying or selling cryptocurrencies. This means you can trade without worrying about paying a percentage of your trade as a fee. However, it's important to note that Robinhood makes money through a process called payment for order flow. This means that they may receive payment from market makers for routing orders to them, which could potentially impact the execution price you receive. Additionally, Robinhood may charge fees for certain transactions, such as wire transfers or cryptocurrency withdrawals. It's always a good idea to review Robinhood's fee schedule to understand the specific costs associated with your trades.
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• Dec 19, 2021 · 3 years ago
  Trading cryptocurrencies on Robinhood is commission-free, which is great for cost-conscious traders. However, it's important to keep in mind that Robinhood's commission-free model is supported by other revenue streams, such as payment for order flow. This means that while you may not pay a direct commission fee, the execution price you receive for your trades may be impacted. It's also worth noting that Robinhood may charge fees for certain transactions, such as wire transfers or cryptocurrency withdrawals. Make sure to review their fee schedule for a complete understanding of the costs involved.
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• Dec 19, 2021 · 3 years ago
  When it comes to trading cryptocurrencies on Robinhood, you'll be happy to know that there are no commission fees involved. That means you can trade without worrying about any additional costs eating into your profits. However, it's important to understand that Robinhood makes money through payment for order flow, which means they may receive compensation for routing orders to market makers. This could potentially impact the execution price you receive. Additionally, Robinhood may charge fees for certain transactions, such as wire transfers or cryptocurrency withdrawals. It's always a good idea to review their fee schedule to ensure you're aware of any potential costs.
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