How does the Robinhood cash card work with digital currencies?

3 answers

• Dec 15, 2021 · 3 years ago
  The Robinhood cash card is a feature that allows users to spend their digital currencies directly at any merchant that accepts Visa. It works by converting the user's digital currencies into fiat currency at the time of the transaction. This means that when a user makes a purchase using their cash card, the equivalent amount of digital currency is sold on the market and the user's fiat balance is used to complete the transaction. It's a convenient way for users to utilize their digital currencies for everyday purchases without the need to convert them to cash first.
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• Dec 15, 2021 · 3 years ago
  The Robinhood cash card works by linking the user's Robinhood account to a physical debit card. When the user makes a purchase using the cash card, the transaction is processed just like any other debit card transaction. The only difference is that instead of using the user's bank account balance, the transaction is funded by selling a portion of the user's digital currency holdings. This allows users to spend their digital currencies without the need to transfer them to a traditional bank account first.
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• Dec 15, 2021 · 3 years ago
  With the Robinhood cash card, users can easily spend their digital currencies in real-world transactions. When a user makes a purchase using the cash card, the transaction is processed instantly and the equivalent amount of digital currency is sold on the market to cover the cost of the purchase. This feature provides users with the flexibility to use their digital currencies for everyday expenses, making it a convenient option for those who want to integrate their digital assets into their daily lives.
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