Are there any limitations or restrictions when downgrading to a cash account on Robinhood for cryptocurrency transactions?

1 answers

• Jan 14, 2022 · 3 years ago
  When downgrading to a cash account on Robinhood for cryptocurrency transactions, it's important to understand the limitations and restrictions that come with it. One limitation is that you won't be able to trade on margin, which means you can only use the funds available in your account. This can limit your buying power and potentially impact your trading strategy. Additionally, cash accounts may have longer settlement times, as the funds need to be cleared before you can use them for further transactions. However, downgrading to a cash account can also provide a more conservative approach to investing, as you'll be using your own funds and not relying on borrowed money. It's important to weigh the pros and cons before making a decision.
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