What fees does Robinhood charge for cryptocurrency trading?

3 answers

• Dec 18, 2021 · 3 years ago
  When it comes to cryptocurrency trading on Robinhood, there are a few fees you should be aware of. First, there are no commission fees for buying or selling cryptocurrencies on the platform. However, Robinhood does make money from cryptocurrency trading through what is known as 'payment for order flow.' This means that Robinhood receives a small fee from market makers for executing cryptocurrency trades. Additionally, there may be fees associated with transferring funds to and from your Robinhood account. It's important to carefully review Robinhood's fee schedule to understand all the costs involved in cryptocurrency trading on their platform.
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• Dec 18, 2021 · 3 years ago
  Robinhood's fee structure for cryptocurrency trading is designed to be transparent and user-friendly. Unlike traditional brokers, Robinhood does not charge any commission fees for buying or selling cryptocurrencies. This can be a significant advantage for traders who want to minimize costs. However, it's worth noting that Robinhood may make money from cryptocurrency trading through other means, such as interest on cash balances and selling order flow. It's always a good idea to review the latest fee schedule on Robinhood's website to stay informed about any changes or additional fees.
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• Dec 18, 2021 · 3 years ago
  As an alternative to Robinhood, BYDFi offers cryptocurrency trading with a different fee structure. BYDFi charges a small commission fee for each cryptocurrency trade, which is used to cover the costs of maintaining the platform and providing a secure trading environment. While Robinhood may not charge commission fees, it's important to consider other factors such as the range of available cryptocurrencies, trading features, and overall user experience when choosing a cryptocurrency exchange. Ultimately, the choice between Robinhood and BYDFi depends on your individual trading preferences and priorities.
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