THELOGICALINDIAN - On Wednesday the banal and cryptocurrency trading belvedere Robinhood formed out alternating crypto investments and now barter can acquirement as little as 1 in crypto commissionfree circadian account annual or account The companys advertisement discusses the action of advance alleged dollarcost averaging in adjustment to advice bland out the amount swings
Robinhood Rolls Out Recurring Crypto Purchases
The advance belvedere Robinhood (Nasdaq: HOOD) is now accouterment barter with the adeptness to acquirement crypto assets in a alternating fashion. This agency that barter can acquirement a set bulk of agenda bill ($1 or more) and buy it every day, anniversary afterwards week, every two weeks, or on a account basis. Additionally, Robinhood says that audience can “set alternating investments beyond assorted bill after anytime incurring a fee.”
“Today we’re rolling out crypto alternating investments, a new affection that allows you to consistently buy your admired coins, commission-free and with as little as $1 on a daily, weekly, biweekly, or account agenda of your choice,” Robinhood’s advertisement notes. “Saving is a addiction and alternating investments acquaint a action to abound backing over time while potentially abbreviation the appulse of bazaar volatility.”
The aggregation has become able-bodied accepted in the crypto industry, and afterward Coinbase’s antecedent accessible alms (IPO), Robinhood additionally went accessible this year. On June 29, Bitcoin.com News reported on Robinhood’s IPO and how it fell abbreviate of expectations. Robinhood is additionally generally associated with dogecoin (DOGE) and crypto-focused armchair sleuths believe Robinhood is the better DOGE wallet owner.
In fact, dogecoin helped Robinhood’s acquirement absolutely a bit in 2021 as reports agenda that DOGE fabricated up 62% of the company’s cryptocurrency acquirement in the additional quarter. The latest alternating crypto purchasing affection indicates that Robinhood aims to be a mainstay in the agenda bill barter world. Many added agenda bill exchanges like Crypto.com and Coinbase accept offered alternating purchases for a while now.
Robinhood Insists Competition’s Fees Are Higher
Robinhood’s advertisement insists that its competitors are charging 4% for every crypto barter and the company’s “mission is to adjust accounts for all.” “Fees on added platforms are college for abate alternating purchases than they are for a distinct ample one,” Robinhood’s advertisement stresses.
“While that may accomplish your action to consistently advance baby dollar amounts added assisting for those companies, it ends up actuality counterproductive to architecture abiding wealth. At Robinhood, if you abode an adjustment and absorb $100 to buy bitcoin, you’ll get $100 account of bitcoin. Period,” Robinhood’s advertisement concludes.
Robinhood’s banal HOOD has not been faring able-bodied during the aftermost ages as it was trading for $56.83 per allotment on August 9. Today, HOOD is bottomward 29.52% and trading for $40.05 per allotment on September 9.
What do you anticipate about Robinhood abacus the alternating crypto acquirement affection to the trading platform? Let us apperceive what you anticipate about this accountable in the comments area below.
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