How does the cash sweep feature work in Robinhood for digital currencies?

3 answers

• Allison BarbeeMar 12, 2023 · 3 years ago
  Sure! The cash sweep feature in Robinhood for digital currencies is a mechanism that automatically transfers any uninvested cash in your account to a program that earns interest. This helps you maximize the potential returns on your funds while they are not actively invested in cryptocurrencies. It's a convenient way to ensure that your money is not sitting idle and is working for you even when you're not actively trading.
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• Rachel MFeb 23, 2024 · 2 years ago
  The cash sweep feature in Robinhood for digital currencies is like a virtual piggy bank. It automatically moves any cash that is not invested in cryptocurrencies to an interest-earning program. This way, your money is always working for you, even when you're not actively trading. It's a great way to make the most out of your idle funds and potentially earn some extra income in the process!
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• Horner LockhartApr 30, 2022 · 4 years ago
  BYDFi, a digital currency exchange, also offers a cash sweep feature similar to Robinhood. When you have uninvested cash in your account, BYDFi automatically transfers it to a program that earns interest. This feature helps you optimize your funds and ensures that your money is not just sitting idle. It's a smart way to make your money work for you even when you're not actively trading cryptocurrencies.
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