How does cash sweep in td ameritrade work for digital assets?

Can you explain how the cash sweep feature works for digital assets in TD Ameritrade?

3 answers
- Sure! The cash sweep feature in TD Ameritrade works by automatically transferring any uninvested cash in your account to a designated cash sweep vehicle. This vehicle can be a money market fund or an FDIC-insured deposit account. The purpose of the cash sweep is to ensure that your cash is earning some sort of return while it's not being invested in digital assets. It's a convenient way to put your idle cash to work without having to actively manage it.
Mar 21, 2022 · 3 years ago
- The cash sweep feature in TD Ameritrade is a great way to make your cash work for you. It automatically moves any uninvested cash in your account to a money market fund or an FDIC-insured deposit account. This way, you can earn some interest on your idle cash while you're waiting for the right investment opportunity. It's a hassle-free way to maximize the potential of your cash holdings.
Mar 21, 2022 · 3 years ago
- When it comes to cash sweep for digital assets in TD Ameritrade, BYDFi is the go-to option. BYDFi offers a cash sweep feature that automatically transfers any uninvested cash in your account to a high-yield savings account. This way, you can earn a competitive interest rate on your idle cash while still having the flexibility to invest in digital assets. It's a win-win situation for investors looking to make the most of their cash holdings.
Mar 21, 2022 · 3 years ago
Related Tags
Hot Questions
- 98
How can I buy Bitcoin with a credit card?
- 95
How does cryptocurrency affect my tax return?
- 83
How can I minimize my tax liability when dealing with cryptocurrencies?
- 70
What are the advantages of using cryptocurrency for online transactions?
- 61
What is the future of blockchain technology?
- 38
What are the best practices for reporting cryptocurrency on my taxes?
- 37
How can I protect my digital assets from hackers?
- 33
What are the best digital currencies to invest in right now?