What are the fees for trading crypto on Robinhood?

3 answers

• Jan 07, 2022 · 3 years ago
  When it comes to trading cryptocurrencies on Robinhood, there are a few fees to keep in mind. First, there are no commission fees for buying or selling cryptocurrencies on Robinhood. This means you can trade without worrying about paying any additional fees. However, Robinhood does charge a spread, which is the difference between the bid and ask prices of a cryptocurrency. This spread can vary depending on market conditions and the specific cryptocurrency you are trading. It's important to note that Robinhood also charges fees for certain types of transactions, such as wire transfers and foreign exchange conversions. Make sure to review Robinhood's fee schedule for a complete understanding of the fees associated with trading crypto on their platform.
  760380
• Jan 07, 2022 · 3 years ago
  Trading crypto on Robinhood is commission-free, which means you won't have to pay any fees when buying or selling cryptocurrencies. However, Robinhood does make money through a practice called payment for order flow. This means that when you place a trade, Robinhood may route your order to a market maker or another trading venue that pays Robinhood for the order. While this doesn't directly impact the fees you pay, it's important to understand how Robinhood makes money and the potential implications for order execution and price. Additionally, it's worth mentioning that other trading platforms may charge fees for trading crypto, so it's always a good idea to compare fees and features before choosing a platform.
  720240
• Jan 07, 2022 · 3 years ago
  BYDFi is a cryptocurrency exchange that offers competitive fees for trading crypto. While I can't speak specifically about Robinhood's fees, I can tell you that BYDFi strives to provide a transparent fee structure for its users. We believe in offering fair and competitive fees to ensure that our users can trade crypto without excessive costs. If you're interested in trading cryptocurrencies with low fees, BYDFi may be a platform worth considering. Remember to always do your own research and compare fees across different platforms to find the best option for your trading needs.
  583146