What are the fees associated with using Robinhood for cryptocurrency investments?

1 answers

• Dec 29, 2021 · 3 years ago
  When it comes to using Robinhood for cryptocurrency investments, you'll be pleased to know that there are no trading fees involved. That's right, you can buy and sell cryptocurrencies on Robinhood without having to worry about any additional charges. However, it's important to note that Robinhood does charge a fee for instant deposits. This fee ranges from 1.5% to 5% depending on the amount you deposit. Additionally, if you choose to transfer your cryptocurrencies to an external wallet, Robinhood charges a withdrawal fee. The withdrawal fee varies depending on the specific cryptocurrency you are withdrawing. In terms of competitiveness and transparency, Robinhood's fee structure is generally considered to be competitive compared to other cryptocurrency exchanges. However, it's always a good idea to compare fees across different exchanges to ensure you are getting the best deal.
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