Are there any limitations or restrictions when using ACH transfers on Robinhood for cryptocurrency purchases?

3 answers

• Dec 17, 2021 · 3 years ago
  When using ACH transfers on Robinhood for cryptocurrency purchases, there are a few limitations and restrictions to be aware of. Firstly, there may be a maximum limit on the amount of money you can transfer using ACH transfers. This limit can vary depending on your account type and verification level. Additionally, there may be a waiting period before the funds from your ACH transfer are available for cryptocurrency purchases. This waiting period is typically a few business days and is in place to prevent fraudulent transactions. Finally, it's important to note that not all cryptocurrencies may be available for purchase using ACH transfers on Robinhood. The platform may have a limited selection of cryptocurrencies that can be purchased with ACH transfers. It's always a good idea to check the available options before initiating a transfer.
  850425
• Dec 17, 2021 · 3 years ago
  ACH transfers on Robinhood for cryptocurrency purchases come with certain limitations and restrictions. One limitation is the maximum transfer amount allowed per transaction. This limit can vary depending on your account level and verification status. Another restriction is the waiting period for funds to clear before they can be used for cryptocurrency purchases. This waiting period is typically a few business days and is in place to ensure the security of transactions. Additionally, not all cryptocurrencies may be available for purchase using ACH transfers on Robinhood. The platform may have a limited selection of cryptocurrencies that can be bought with ACH transfers. It's important to check the available options and restrictions before making a purchase.
  768256
• Dec 17, 2021 · 3 years ago
  When using ACH transfers on Robinhood for cryptocurrency purchases, there are a few limitations and restrictions to consider. Firstly, there may be a maximum transfer limit per transaction. This limit can vary based on your account type and verification level. Secondly, there may be a waiting period before the funds from your ACH transfer are available for cryptocurrency purchases. This waiting period is typically a few business days and is in place to prevent fraudulent activities. Lastly, it's worth noting that not all cryptocurrencies may be available for purchase using ACH transfers on Robinhood. The platform may have a limited selection of cryptocurrencies that can be bought with ACH transfers. It's important to review the available options and any associated limitations before initiating a transfer.
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