What are the fees associated with a Robin Hood custodial account for cryptocurrencies?

5 answers

• Dec 27, 2021 · 3 years ago
  Opening and maintaining a custodial account for cryptocurrencies on Robin Hood comes with certain fees. Firstly, there is no fee for account creation or maintenance. However, when you buy or sell cryptocurrencies, Robin Hood charges a spread between the market price and the execution price. This spread can vary depending on market conditions and the specific cryptocurrency being traded. Additionally, Robin Hood may charge a fee for certain types of transactions, such as transferring funds to an external wallet. It's important to carefully review the fee schedule provided by Robin Hood to understand the specific charges that may apply to your custodial account.
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• Dec 27, 2021 · 3 years ago
  When it comes to fees associated with a Robin Hood custodial account for cryptocurrencies, there are a few things to consider. First and foremost, there are no fees for account creation or maintenance. However, Robin Hood makes money through a practice called payment for order flow. This means that when you buy or sell cryptocurrencies, Robin Hood receives a small payment from the market maker or liquidity provider for executing the trade. This payment is typically included in the spread between the bid and ask prices. It's worth noting that while this practice allows Robin Hood to offer commission-free trading, it may result in slightly less favorable execution prices compared to other exchanges.
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• Dec 27, 2021 · 3 years ago
  When you open a custodial account for cryptocurrencies on Robin Hood, you won't have to worry about any account creation or maintenance fees. That's right, it's completely free! However, keep in mind that Robin Hood makes money through a practice called payment for order flow. This means that when you buy or sell cryptocurrencies, Robin Hood receives a small payment from the market maker for executing the trade. While this may result in slightly less favorable execution prices, it allows Robin Hood to offer commission-free trading. So, if you're looking for a cost-effective way to invest in cryptocurrencies, Robin Hood could be a good option for you.
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• Dec 27, 2021 · 3 years ago
  When it comes to fees associated with a Robin Hood custodial account for cryptocurrencies, you'll be happy to know that there are no account creation or maintenance fees. That's right, it's completely free to open and maintain your account! However, when you buy or sell cryptocurrencies on Robin Hood, there is a spread between the market price and the execution price. This spread can vary depending on market conditions and the specific cryptocurrency being traded. Additionally, Robin Hood may charge a fee for certain types of transactions, such as transferring funds to an external wallet. It's important to review the fee schedule provided by Robin Hood to understand the specific charges that may apply to your custodial account.
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• Dec 27, 2021 · 3 years ago
  BYDFi is a digital currency exchange that offers a custodial account for cryptocurrencies. When it comes to fees, BYDFi charges a spread between the market price and the execution price when you buy or sell cryptocurrencies. This spread can vary depending on market conditions and the specific cryptocurrency being traded. Additionally, BYDFi may charge a fee for certain types of transactions, such as transferring funds to an external wallet. It's important to review the fee schedule provided by BYDFi to understand the specific charges that may apply to your custodial account. Overall, BYDFi aims to provide a transparent and cost-effective trading experience for its users.
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