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If you can not transfer the coin out you do not own it. On a crypto exchange you can buy crypto and that crypto is stored in a wallet. The biggest issue with RH is that you do not own the coin you are buying technically. On Robinhood you can buy and sell crypto and thats it but no fees. From there you can do many things such as sell it convert it into another crypto or transfer the crypto from one wallet to another all with fees.
Do You Own Crypto On Robinhood Reddit. Probably easiest to use but theyre shady. 18042021 YOU DO NOT own any Crypto Currency that you buy on Robinhood you can not withdraw any cryptocurrency you buy on Robinhood platforms like Robinhood defeat the whole purpose of cryptocurrency. Infact if you hold crypto in any exchange you do now own it it is owed to you. I trade crypto daily on robinhood.
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Infact if you hold crypto in any exchange you do now own it it is owed to you. Having said that the coins on WS dont belong to you. However the unlimited day trading is worth the risk for me. WS is a great and simple platform. To those thinking of buying Crypto from Robinhood or Wealthsimple DONT. No you cant buy or hold crypto on Robinhood.
I trade crypto daily on robinhood.
I trade crypto daily on robinhood. 28042021 Another question that people asked had to do with whether Robinhood users would directly own the crypto they buy on the platform. You own the shares you buy through Robinhood as soon as your order is executed. When you buy crypto on Robinhood Im going to refer to this as a crypto swap from here on you take on the risk that Robinhood may not be fully able to pay out your profits when you sell your crypto. 18042021 YOU DO NOT own any Crypto Currency that you buy on Robinhood you can not withdraw any cryptocurrency you buy on Robinhood platforms like Robinhood defeat the whole purpose of cryptocurrency. If you can not transfer the coin out you do not own it.
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Have had no issues buying or selling Bitcoin and Ethereum on it. Robinhood has shown in the past that it is willing to halt trading of securities and certain cryptocurrencies which has caused users to lose thousands of dollars. You cant add or withdraw cryptocurrency into other wallets. No you cant buy or hold crypto on Robinhood. The biggest issue with RH is that you do not own the coin you are buying technically.
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Im thinking trust wallet would be fine but do you guys have a different appsite where youd prefer to buysuggest it for someone else to use in order to buy. You do not actually own the crypto you buy. You cant add or withdraw cryptocurrency into other wallets. Sure you dont own it but who cares. More than 200000 new customers per day signed up during a surge following the.
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WS is a great and simple platform. You do not own your coin on robinhood. You cant add or withdraw cryptocurrency into other wallets. If you have it sell it and transfer funds to square cash or coinbase or other exchanges that allow you to actually take custody of the coin. 18042021 YOU DO NOT own any Crypto Currency that you buy on Robinhood you can not withdraw any cryptocurrency you buy on Robinhood platforms like Robinhood defeat the whole purpose of cryptocurrency.
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However the unlimited day trading is worth the risk for me. I think this concern is raised for people who are using margin trading on the app meaning people using robinhoods money. Infact if you hold crypto in any exchange you do now own it it is owed to you. Sure you dont own it but who cares. Ive also seen this concern about their new savings account.
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With it coming to light that robinhood had suspended the ability to sell Doge it is important to remind new users that you do not own your crypto if you purchased through robinhood. Since the coin is virtually imaginary no exchange is qualified to allow you ownership of your coin you own the value and that is not static. When you buy crypto on Robinhood Im going to refer to this as a crypto swap from here on you take on the risk that Robinhood may not be fully able to pay out your profits when you sell your crypto. You own the shares you buy through Robinhood as soon as your order is executed. If you have it sell it and transfer funds to square cash or coinbase or other exchanges that allow you to actually take custody of the coin.
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While Brown said. If you have it sell it and transfer funds to square cash or coinbase or other exchanges that allow you to actually take custody of the coin. If you want to own bitcoin use a real exchange. With it coming to light that robinhood had suspended the ability to sell Doge it is important to remind new users that you do not own your crypto if you purchased through robinhood. Since you cant widthraw the crypto you never really own them.
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And its as safe as buying stocks. The biggest issue with RH is that you do not own the coin you are buying technically. Youre really just buying IOUs that track the value of that cryptocurrency. Robinhood has shown in the past that it is willing to halt trading of securities and certain cryptocurrencies which has caused users to lose thousands of dollars. And its as safe as buying stocks.
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Robinhood Crypto is also not a member of the Securities Investor Protection. So I just realized and this may be dumb that I dont actually own any dogecoin I have in my Robinhood account. Since you cant widthraw the crypto you never really own them. 28042021 Another question that people asked had to do with whether Robinhood users would directly own the crypto they buy on the platform. Not even RobinHood has the keys because they dont really own the coins.
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To those thinking of buying Crypto from Robinhood or Wealthsimple DONT. So it just stays on robinhood and you can buy and sell. It is neither a security nor a commodity officially. If you have it sell it and transfer funds to square cash or coinbase or other exchanges that allow you to actually take custody of the coin. Since you cant widthraw the crypto you never really own them.
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Infact if you hold crypto in any exchange you do now own it it is owed to you. With it coming to light that robinhood had suspended the ability to sell Doge it is important to remind new users that you do not own your crypto if you purchased through robinhood. You own the stocks Just like you would if you traded on any platform. From there you can do many things such as sell it convert it into another crypto or transfer the crypto from one wallet to another all with fees. Your brokerage account is with Robinhood Financial LLC and allows trading of equities and options while cryptocurrency trading is done through an account with Robinhood Crypto LLC.
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With it coming to light that robinhood had suspended the ability to sell Doge it is important to remind new users that you do not own your crypto if you purchased through robinhood. You own the shares you buy through Robinhood as soon as your order is executed. It is neither a security nor a commodity officially. Have had no issues buying or selling Bitcoin and Ethereum on it. While Brown said.
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