Is there a way to trade cryptocurrencies on Robinhood without getting flagged as a day trader?

3 answers

• Nov 26, 2021 · 3 years ago
  Yes, there are strategies you can use to trade cryptocurrencies on Robinhood without being flagged as a day trader. One approach is to spread out your trades over multiple days instead of making multiple trades within a single day. This can help you stay below the day trading threshold set by Robinhood. Additionally, you can focus on longer-term trading strategies and avoid frequent buying and selling of cryptocurrencies. By holding onto your positions for a longer period, you can reduce the likelihood of being flagged as a day trader.
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• Nov 26, 2021 · 3 years ago
  Absolutely! One way to trade cryptocurrencies on Robinhood without getting flagged as a day trader is to make sure you have a cash account instead of a margin account. With a cash account, you won't have access to instant settlement, which means you won't be able to make unlimited day trades. However, this can help you avoid being flagged as a day trader. It's important to note that this approach may limit your ability to take advantage of short-term trading opportunities.
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• Nov 26, 2021 · 3 years ago
  Yes, there is a way to trade cryptocurrencies on Robinhood without getting flagged as a day trader. You can use the BYDFi platform, which is a separate digital asset exchange that offers cryptocurrency trading with different rules and regulations. BYDFi allows you to trade cryptocurrencies without being subject to Robinhood's day trading restrictions. It's a great alternative for traders who want more flexibility in their trading strategies. However, it's important to do your own research and understand the risks associated with using a different platform.
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