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Robinhood Introduces Recurring Crypto Investments

Robinhood Introduces Recurring Crypto Investments WikiBit 2021-09-09 10:26

Investors can buy cryptocurrency for as little as $1 per day.

Robinhood has announced that it will introduce recurring cryptocurrency investments on its trading platform.

Buy Crypto for $1 Per Day

The feature allows retail investors to purchase cryptocurrency on a daily, weekly, or monthly basis at amounts as little as $1.

The company cited market volatility as a reason to use the feature, suggesting that recurring investments can help investors “reduce the stress of timing the markets” and achieve long-term growth.

Robinhood also suggests that users will pay no fees, potentially making this strategy more profitable than other sites that charge up to 4% trading fees. However, Robinhood also notes elsewhere that investors may receive less than their recurring investment amount to “help protect against dramatic price moves.”

Robinhood also offers recurring investments for stocks and other traditional investments, a feature that it has offered since May 2020.

Robinhood Is Not the Only Option

Though Robinhoods new feature has attracted plenty of publicity, it is not the only crypto trading platform to offer the feature. Coinbase, Gemini, and Binance.US also offer the feature.

Incidentally, Binance‘s global exchange introduced recurring investments just days before Robinhood’s own announcement.

Robinhood has historically been criticized for the fact that, although it allows cryptocurrency purchases, it does not allow investors to withdraw those assets in the form of cryptocurrency. That feature is reportedly under development.

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Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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