Are there any limitations to using a cash account for buying and selling cryptocurrencies on Robinhood?

1 answers

• Iain LynchAug 14, 2023 · 3 years ago
  As a representative of BYDFi, I can tell you that using a cash account for buying and selling cryptocurrencies on Robinhood does have some limitations. One limitation is that you won't have access to margin trading, which means you can only trade with the funds available in your account. Another limitation is that you won't have access to instant deposits or instant settlement. This means that you'll need to wait for funds to settle before you can use them to make another trade. However, using a cash account can be a good option for those who prefer to trade with their own funds and want to avoid borrowing money or using leverage. It's important to carefully consider these limitations before using a cash account on Robinhood.
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