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Are there any restrictions on using cryptocurrency to purchase Canadian stocks on Robinhood?

avatarmarielouNov 26, 2021 · 3 years ago3 answers

I want to use cryptocurrency to purchase Canadian stocks on Robinhood. Are there any restrictions or limitations that I should be aware of?

Are there any restrictions on using cryptocurrency to purchase Canadian stocks on Robinhood?

3 answers

  • avatarNov 26, 2021 · 3 years ago
    As of now, Robinhood does not support the direct use of cryptocurrency to purchase Canadian stocks. However, you can convert your cryptocurrency to fiat currency and then use that to purchase Canadian stocks on Robinhood. Keep in mind that there may be fees and additional steps involved in the conversion process.
  • avatarNov 26, 2021 · 3 years ago
    Unfortunately, Robinhood does not currently offer the option to use cryptocurrency for purchasing Canadian stocks. You can only use fiat currency for these transactions. If you're interested in trading Canadian stocks with cryptocurrency, you may want to explore other platforms that offer this feature.
  • avatarNov 26, 2021 · 3 years ago
    While Robinhood itself does not support using cryptocurrency to purchase Canadian stocks, there are other platforms like BYDFi that allow you to trade Canadian stocks directly with cryptocurrency. BYDFi offers a seamless and secure trading experience for cryptocurrency enthusiasts who want to diversify their portfolio with Canadian stocks.