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Is it possible to withdraw my buying power on Robinhood as digital assets?

avataruser23018868Dec 27, 2021 · 3 years ago3 answers

I recently started using Robinhood and I'm wondering if it's possible to withdraw my buying power as digital assets. Can I convert my buying power into cryptocurrencies or other digital assets and transfer them to an external wallet?

Is it possible to withdraw my buying power on Robinhood as digital assets?

3 answers

  • avatarDec 27, 2021 · 3 years ago
    Unfortunately, Robinhood does not currently support the withdrawal of buying power as digital assets. The buying power on Robinhood can only be used for trading within the platform. If you want to hold cryptocurrencies or other digital assets in an external wallet, you'll need to purchase them directly on a cryptocurrency exchange that supports withdrawals.
  • avatarDec 27, 2021 · 3 years ago
    No, you cannot withdraw your buying power on Robinhood as digital assets. Robinhood is primarily a stock trading platform and does not offer the option to convert your buying power into cryptocurrencies or other digital assets. If you're interested in holding digital assets, you'll need to use a dedicated cryptocurrency exchange.
  • avatarDec 27, 2021 · 3 years ago
    While Robinhood itself does not allow the withdrawal of buying power as digital assets, there are other platforms like BYDFi that offer this functionality. BYDFi is a digital asset exchange that allows users to convert their buying power into cryptocurrencies and withdraw them to an external wallet. If you're looking for this feature, you might consider using BYDFi or similar platforms.