Robinhood Crypto User Agreement
We calculate the cost base on the basis of the first-in-first out (FIFO). This means that we sell your cryptocurrencies in the order in which you bought them. A limit order is an order that is placed to buy or sell a certain amount at a certain price or better. They don`t have to worry about daily trading limits for cryptocurrencies, as they are not regulated by FINRA or the SEC like stocks and options. Trading cryptocurrencies can be extremely risky. Trade in cryptocurrencies is generally not appropriate, particularly for funds from old age savings, student loans, mortgages, emergency funds or funds made available for other purposes. Trade in cryptocurrencies can result in significant and immediate financial losses. Under certain market conditions, it may be difficult or impossible to quickly liquidate a position at a reasonable price. This can happen, for example. B, when the market for a given cryptocurrency is suddenly falling, or when trading is halted due to recent events, unusual business activity or changes to the underlying cryptocurrency system.
You will receive the proceeds of your sales to immediately buy stocks, options or other cryptocurrencies. However, the ACH payment period remains valid when you withdraw money from your Robinhood Crypto account from your bank account. This means you can`t remove the product from your sales for five business days. You can invest in 24/7 cryptocurrencies on Robinhood Crypto, with the exception of site maintenance downtime. The app lets you know what maintenance windows are planned and how long they will last. If you place orders for the purchase or sale of cryptocurrencies during a maintenance window, your order may not be executed until the maintenance window is updated. In addition, all survivors remain on hold during this period. Robinhood Crypto also supports real-time market data for the following cryptocurrencies: We also plan to support the ability to buy and sell other cryptocurrencies via Robinhood Crypto. Keep in mind that market data support for individual cryptocurrencies does not necessarily mean that we plan to add buying and selling. You can switch between placing trades in fractions of cryptocurrency and placing dollar trades by tapping the USD amount on the order screen or the amount in DOLLARS BTC/ETH/LTC/BCH/DOGE/ETC/BSV. Your cryptocurrency assets are not part of your Robinhood Financial account.
Your brokerage account is at Robinhood Financial LLC and allows trading of stocks, ETFs and options, while cryptocurrency trading is done via an account at Robinhood Crypto, LLC. Robinhood Crypto is licensed by the New York State Department of Financial Services as well as a number of other state regulators for public financial services for virtual currency transactions.