How does a Robinhood cash account work with digital currencies?

3 answers

• Esha RajpootNov 21, 2024 · 9 months ago
  A Robinhood cash account allows you to trade digital currencies without the need for margin. It means that you can only use the funds available in your account to make trades, and you won't have access to leverage. This type of account is suitable for those who prefer a more conservative approach to trading and want to avoid borrowing money to invest in cryptocurrencies.
  373

  187
• Foged GuyMar 31, 2021 · 4 years ago
  When you have a Robinhood cash account, you can buy and sell digital currencies using the funds you have deposited. The advantage of this account type is that you won't be charged any interest on the funds you use for trading. However, it's important to note that you may not be able to make instant deposits or withdrawals with a cash account, and there might be limitations on the number of trades you can execute within a certain period.
  440

  147
• sabir aliDec 22, 2024 · 8 months ago
  With a Robinhood cash account, you can trade digital currencies without the need for margin or borrowing. This type of account is suitable for those who want to have more control over their investments and avoid the risks associated with margin trading. However, it's important to note that Robinhood may have certain restrictions and limitations on the use of cash accounts, so it's always a good idea to familiarize yourself with their terms and conditions before opening an account.
  485

  122