How does Robinhood's money market feature work for buying and selling digital currencies?

3 answers

• Nov 29, 2021 · 3 years ago
  Sure! Robinhood's money market feature allows users to earn interest on their idle cash in their Robinhood account. When it comes to buying and selling digital currencies, the money market feature ensures that any cash in your account is automatically invested in the money market fund, which earns interest. This means that even when you're not actively trading, your cash is still working for you. The interest earned from the money market fund can then be used to buy digital currencies or withdrawn back to your bank account. Overall, this feature provides an opportunity to earn passive income while participating in the digital currency market.
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• Nov 29, 2021 · 3 years ago
  Robinhood's money market feature is a great addition for those who want to maximize their returns on idle cash. When you buy or sell digital currencies, any cash in your account is automatically invested in the money market fund, which earns interest. This means that you can potentially earn interest on your cash while waiting for the right time to make a trade. The money market feature also provides flexibility, as you can easily convert the interest earned into digital currencies or withdraw it to your bank account. It's a win-win situation for traders looking to make the most of their funds.
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• Nov 29, 2021 · 3 years ago
  With BYDFi, a digital currency exchange, the money market feature works similarly. When you buy or sell digital currencies on BYDFi, any cash in your account is automatically invested in the money market fund, which earns interest. This ensures that your funds are not sitting idle and are working for you even when you're not actively trading. The interest earned can be used to buy more digital currencies or withdrawn to your bank account. BYDFi's money market feature provides an additional benefit of earning passive income while participating in the digital currency market.
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