How does buying power work for digital currencies on Robinhood?

3 answers

• Burnett StuartJun 26, 2020 · 5 years ago
  Sure! Buying power for digital currencies on Robinhood refers to the amount of funds you have available to purchase cryptocurrencies on the platform. It is calculated based on your account balance and any unsettled funds. This buying power allows you to place buy orders for digital currencies within the available funds in your account. Keep in mind that buying power is subject to change as your account balance and unsettled funds fluctuate.
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• Md HabibFeb 28, 2024 · a year ago
  Buying power on Robinhood for digital currencies is the amount of money you can use to buy cryptocurrencies. It's calculated based on your account balance and any unsettled funds. This means that if you have $100 in your account and no unsettled funds, your buying power would be $100. However, if you have $100 in your account and $50 in unsettled funds, your buying power would be $50. It's important to note that buying power only applies to buying digital currencies and not to selling or withdrawing funds.
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• Elias Dalla CorteMar 30, 2024 · a year ago
  When it comes to buying power for digital currencies on Robinhood, it's important to understand that it is calculated based on your account balance and any unsettled funds. This means that your buying power can vary depending on the funds available in your account. For example, if you have $100 in your account and no unsettled funds, your buying power would be $100. However, if you have $100 in your account and $50 in unsettled funds, your buying power would be $50. It's crucial to keep track of your buying power to ensure you have enough funds to make the desired cryptocurrency purchases.
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