04-19-2021, 03:30 AM
DO NOT use Robinhood to buy Crypto Currency
<!-- SC_OFF --><div class="md"><p>There are a lot of new members coming due to the recent increase in the price of Dogecoin so I think this needs to be said again. YOU DO NOT own any Crypto Currency that you buy on Robinhood, you can not withdraw any cryptocurrency you buy on Robinhood, platforms like Robinhood defeat the whole purpose of cryptocurrency.</p> <p>Robinhood has shown in the past that it is willing to halt trading of securities and certain cryptocurrencies which has caused users to lose thousands of dollars.</p> <p>If you are new here I would recommend first reading up on cryptocurrency. Don't just jump in on fear of missing out. Make sure that you know what you are getting into first. </p> <p>After that you can start thinking about buying cryptocurrencies. You can purchase cryptocurrencies from several popular exchanges/platforms such as Binance, Kraken and Coinbase. You can then either choose to keep your coins on the exchange or the preferable option to create your own wallet and transfer your cryptos there. You should note that there will often be a transaction or a 'gas fee' when moving most crypto's off an exchange and into your wallet which depending on how much of a crypto you own might not make it worth it to move off an exchange.</p> <p>From there you should bet set, there tons of great past threads on this subreddit about crypto that will probably answer the majority of questions you have so always google them.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/does_my_name_suck"> /u/does_my_name_suck </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mto6ee/do_not_use_robinhood_to_buy_crypto_currency/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mto6ee/do_not_use_robinhood_to_buy_crypto_currency/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>There are a lot of new members coming due to the recent increase in the price of Dogecoin so I think this needs to be said again. YOU DO NOT own any Crypto Currency that you buy on Robinhood, you can not withdraw any cryptocurrency you buy on Robinhood, platforms like Robinhood defeat the whole purpose of cryptocurrency.</p> <p>Robinhood has shown in the past that it is willing to halt trading of securities and certain cryptocurrencies which has caused users to lose thousands of dollars.</p> <p>If you are new here I would recommend first reading up on cryptocurrency. Don't just jump in on fear of missing out. Make sure that you know what you are getting into first. </p> <p>After that you can start thinking about buying cryptocurrencies. You can purchase cryptocurrencies from several popular exchanges/platforms such as Binance, Kraken and Coinbase. You can then either choose to keep your coins on the exchange or the preferable option to create your own wallet and transfer your cryptos there. You should note that there will often be a transaction or a 'gas fee' when moving most crypto's off an exchange and into your wallet which depending on how much of a crypto you own might not make it worth it to move off an exchange.</p> <p>From there you should bet set, there tons of great past threads on this subreddit about crypto that will probably answer the majority of questions you have so always google them.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/does_my_name_suck"> /u/does_my_name_suck </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mto6ee/do_not_use_robinhood_to_buy_crypto_currency/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mto6ee/do_not_use_robinhood_to_buy_crypto_currency/">[comments]</a></span>Kind Regards R