What are the fees associated with using Robinhood as a Bitcoin wallet?

3 answers

• Dec 16, 2021 · 3 years ago
  When using Robinhood as a Bitcoin wallet, there are no fees for buying or selling Bitcoin. However, Robinhood makes money through a process called payment for order flow, where they receive compensation for directing orders to certain market makers. This means that the price you get for buying or selling Bitcoin on Robinhood may not be the best available price in the market. Additionally, Robinhood charges a fee for transferring Bitcoin to an external wallet. It's important to consider these factors when using Robinhood as a Bitcoin wallet.
  546273
• Dec 16, 2021 · 3 years ago
  Using Robinhood as a Bitcoin wallet is fee-free for buying and selling Bitcoin. However, keep in mind that Robinhood may not offer the best prices for Bitcoin due to their payment for order flow model. If you plan to transfer your Bitcoin to an external wallet, Robinhood charges a fee for that. It's always a good idea to compare fees and prices across different platforms before making any transactions.
  405135
• Dec 16, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I can tell you that using Robinhood as a Bitcoin wallet comes with its own set of fees. While there are no fees for buying or selling Bitcoin, Robinhood makes money through payment for order flow. This means that the price you get for Bitcoin may not be the most competitive in the market. Additionally, if you decide to transfer your Bitcoin to an external wallet, Robinhood charges a fee for that. It's important to be aware of these fees and consider them when using Robinhood as a Bitcoin wallet.
  545137