If you’re like most people, you probably think of Robinhood as a stock trading app. And while it’s true that you can use Robinhood to trade stocks, the company has also expanded into the world of cryptocurrency.
One of the most popular cryptocurrencies is Bitcoin, and Robinhood has made it possible for its users to trade Bitcoin without having to pay any fees.
However, there is a catch. Robinhood only allows you to trade Bitcoin during certain hours, and it imposes limits on how much you can trade.
So, if you’re looking to trade Bitcoin on Robinhood, here’s what you need to know.
First, you’ll need to create a Robinhood account if you don’t already have one. Then, you’ll need to fund your account with at least $10.
Once you’ve done that, you’ll be able to trade Bitcoin during the following hours:
9 AM to 6 PM EST on weekdays
9 AM to 9 PM EST on Saturdays
9 AM to 6 PM EST on Sundays
As you can see, you’re only able to trade Bitcoin on Robinhood during limited hours.
If you want to trade Bitcoin outside of those hours, you’ll need to use a different Exchange.
Coinbase is a popular option, and it doesn’t charge any fees for trades.
Once you’ve found an Exchange that meets your needs, you’ll need to transfer your Bitcoin to that Exchange.
To do that, you’ll need to generate a Bitcoin address on the Exchange.
Once you’ve done that, you can use Robinhood to sell your Bitcoin and then transfer the proceeds to your Exchange account.
Just be sure to transfer your Bitcoin to your Exchange account before the trading hours for Robinhood end.
Otherwise, you’ll have to wait until the next day to trade again.
And that’s all you need to know about how to trade Bitcoin on Robinhood.
Other related questions:
Q: Why is my Robinhood account restricted from Crypto?
A: There are a few possible reasons for this:
-You may be located in a state that does not allow Robinhood to offer crypto trading.
-You may be located in a country that does not allow Robinhood to offer crypto trading.
-You may not have completed the required account verification steps.
-Your account may be flagged for review.
Q: Can you restrict your Robinhood account?
A: Yes, you can restrict your Robinhood account.
Q: How do I lock my Robinhood account?
A: Unfortunately, Robinhood does not currently offer the ability to lock your account.
Q: Does Robinhood restrict day trading Crypto?
A: Robinhood does not currently restrict day trading in cryptocurrency.
- Account Restrictions – Robinhood
- Pattern Day Trading | Robinhood
- Robinhood Account Restricted From Purchasing? Here’s Fix