Commission Free Cryptocurrency Investing | Robinhood

By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy

By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy

By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy

Robinhood, the popular stock and crypto investing app, has officially launched bitcoin, ethereum, and other cryptocurrency trading in New York.

Silicon Valley-based Robinhood received a BitLicense from the New York Department of Financial Services (NYDFS) in January 2019 and on Thursday opened access to crypto trading in the Empire State.

Currently, you can invest in seven cryptocurrencies on Robinhood Crypto: Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, Ethereum Classic, Litecoin, and Dogecoin.

To help protect your market orders against dramatic price moves, we adjust market orders to limit orders collared up to 1% for buys, and 5% for sells.

Collars are based off the last trade price.

This means that your order won’t execute if the price of the cryptocurrency moves more than 5% lower than its price at the time you placed a market sell order, or more than 1% higher than its price when you placed a market buy order, until it comes back within the collar.

A limit order is an order placed to buy or sell a specified amount at a specified price or better. You don’t have to worry about day trading limits on cryptocurrencies because they’re not regulated by FINRA or the SEC like stocks and options.

Limit orders aren’t guaranteed to execute.

When you make a deposit (or sell investments in your Robinhood Financial brokerage account), those funds are immediately available for purchasing cryptocurrencies in your Robinhood Crypto account.

Cryptocurrency trading is offered through an account with Robinhood Crypto. Robinhood Crypto is not a member of SIPC or FINRA.

We’re excited to release Robinhood Crypto to customers on a state-by-state basis. Check out our growing list of states below!

Don’t see your state? Don’t worry–you’ll receive an email and an in-app notification when your account is ready for Crypto.

Robinhood Crypto also supports real-time market data for the following cryptocurrencies:

We also plan to support the ability to buy and sell other cryptocurrencies through Robinhood Crypto.

You don’t have enough buying power to place the trade.

Cryptocurrencies are non-marginable and can’t count as collateral, so you’ll need to have enough cash in your account to place the order.

You don’t have enough equity to reach your margin minimum. If you have a Gold account and are using Gold Buying Power, you won’t be able to place a cryptocurrency order in your Robinhood Crypto account if doing so would cause you to fall below your margin maintenance or minimum balance in your Gold account. Also, in a Robinhood Instant or Gold account, you cannot place a trade that would cause you to fall below your pattern day trade minimum equity.

Your account is being prevented from buying stocks.

By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy

By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy

By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy

Robinhood, the popular stock and crypto investing app, has officially launched bitcoin, ethereum, and other cryptocurrency trading in New York.

Silicon Valley-based Robinhood received a BitLicense from the New York Department of Financial Services (NYDFS) in January 2019 and on Thursday opened access to crypto trading in the Empire State.

Currently, you can invest in seven cryptocurrencies on Robinhood Crypto: Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, Ethereum Classic, Litecoin, and Dogecoin.

Fintech startup Robinhood is expanding its cryptocurrency trading product with two new token listings. Users in selected states can now trade Litecoin and Bitcoin Cash from the app.

Robinhood is currently providing one of the easiest ways to get started with cryptocurrencies. You can download the app, upload some money and buy tokens in just a few minutes.

But there are a few caveats.

First, Robinhood is only available in the U.S.

if you want to trade stocks, ETFs and options.

And if you’re interesting Robinhood Crypto more specifically, it is only available in 17 states.

Robinhood also claims that there’s no fee on cryptocurrency trading. Given the liquidity of cryptocurrency exchanges, there’s always some spread. It means that if you buy one bitcoin and if you sell one bitcoin, there will be a tiny gap between those two prices because of the tiny order book.

Robinhood, the stock trading app for millennials, recently introduced cryptocurrency trading services on its platform to customers in five states – California, Massachusetts, Missouri, Montana, and New Hampshire.

The San Francisco-based company made the announcement in a blog post last week. It also announced a new feature called Robinhood Feed for the app’s users to track cryptocurrency news and discuss their price swings. The feature is available to select users currently, and Robinhood plans to evolve its feed based on comments and feedback from users.

For the latest business news and markets data, please visit CNN
Business

Robinhood Crypto has been steadily adding states where the service is available. Currently investors can buy and sell the four coins in 17 states, including California, New Jersey, Florida and Massachusetts, with more states becoming available in the future.

Robinhood began offering users the ability to trade Bitcoin and Ethereum — the top two cryptocurrencies by market capitalization — in February. Since then, investors have expressed interest in trading other cryptocurrencies, according to the company announcement.

Litecoin, the world’s sixth-largest cryptocurrency, rose in value earlier this week on news that the Litecoin Foundation was partnering with payments platform TokenPay.

Despite a sluggish cryptocurrency market, stock trading app Robinhood is adding two new digital currencies to its platform.

The company will add Litecoin and Bitcoin Cash to its no-fee app, which already lets users trade bitcoin and ethereum.

“Since we launched Robinhood Crypto in February, our customers have voiced interest in buying and selling other cryptocurrencies beyond Bitcoin and Ethereum,” Robinhood said in a blog post Thursday.

The company also said it has topped 5 million users across the entire Robinhood platform, helped by “significant momentum generated over the last several months with the introduction of Options and Crypto.”

The platform added cryptocurrency trading in February, two months after bitcoin had skyrocketed to nearly $20,000.

One reply on “Commission Free Cryptocurrency Investing | Robinhood”

Commission Free Cryptocurrency Investing | Robinhood

When you make a deposit (or sell investments in your Robinhood Financial brokerage account), those funds are immediately available for purchasing cryptocurrencies in your Robinhood Crypto account.

Cryptocurrency trading is offered through an account with Robinhood Crypto. Robinhood Crypto is not a member of SIPC or FINRA.

If you have a Robinhood Instant account, you get instant access to your funds up to $1,000. Additional funds will land in your account after normal settlement times.

If you have a Robinhood Gold account, you’ll have instant access to your funds up to your Gold tier amount, and any additional funds will land in your account after normal settlement times.

For Robinhood Crypto, funds from stock, ETF, and options sales become available for buying within 3 business days. However, limited cash deposits and all proceeds from crypto sales are available to instant accounts immediately.

To help protect your market orders against dramatic price moves, we adjust market orders to limit orders collared up to 1% for buys, and 5% for sells.

Collars are based off the last trade price.

This means that your order won’t execute if the price of the cryptocurrency moves more than 5% lower than its price at the time you placed a market sell order, or more than 1% higher than its price when you placed a market buy order, until it comes back within the collar.

A limit order is an order placed to buy or sell a specified amount at a specified price or better. You don’t have to worry about day trading limits on cryptocurrencies because they’re not regulated by FINRA or the SEC like stocks and options.

Limit orders aren’t guaranteed to execute.

You don’t have enough buying power to place the trade.

Cryptocurrencies are non-marginable and can’t count as collateral, so you’ll need to have enough cash in your account to place the order.

You don’t have enough equity to reach your margin minimum. If you have a Gold account and are using Gold Buying Power, you won’t be able to place a cryptocurrency order in your Robinhood Crypto account if doing so would cause you to fall below your margin maintenance or minimum balance in your Gold account. Also, in a Robinhood Instant or Gold account, you cannot place a trade that would cause you to fall below your pattern day trade minimum equity.

Your account is being prevented from buying stocks.

We’re excited to release Robinhood Crypto to customers on a state-by-state basis. Check out our growing list of states below!

Don’t see your state? Don’t worry–you’ll receive an email and an in-app notification when your account is ready for Crypto.

Robinhood Crypto also supports real-time market data for the following cryptocurrencies:

We also plan to support the ability to buy and sell other cryptocurrencies through Robinhood Crypto.

Since Robinhood Crypto launched last year, we’ve been committed to giving people across the country access to commission-free crypto trading and improving our crypto business.

Today, we’re bringing crypto trading to eight more states: Delaware, Kentucky, Louisiana, Maine, Maryland, Minnesota, Nebraska, and Vermont. Robinhood Crypto is now available in 46 states and Washington D.C., and we’ll continue expanding to more. You can buy and sell seven coins including Bitcoin, Ethereum, and Litecoin, commission-free. You can also track real-time market data for those and ten additional coins. See where we’re currently available here.

We’re also thrilled to welcome Sina Nader as our Head of Crypto. With an extensive background working in both the crypto industry and at some of the world’s leading banks, Sina brings valuable experience from roles that span the financial system.

Today i tried buying bitcoin but i get an error that says “this order exceeds your crypto buying power, which is xxx. Funds from recent stock ETF, and options sales will be available for buying crypto within 3 business days. you may deposit funds to place this order”

yesterday I had bought and sole ethereum classic with no problem. can someone help me understand why i’m getting this error?

I instant deposited cash to buy more crypto but got the same error message saying I couldn’t use cash from stocks, ETFs etc and would have to wait 3 business days……… except this cash came straight from my bank account not from the sale of stocks.

It’s bullshit

I was just about to try this.

Glad I came here first.

Robinhood needs to fix this issue I want to buy this dip!

Starting today, you’ll only be able to use settled funds to place buy orders on Robinhood Crypto.

One reply on “Commission Free Cryptocurrency Investing | Robinhood”