Is it possible to use my brokerage cash from Robinhood to buy Bitcoin or other cryptocurrencies directly?

3 answers

• Danish Abyan PratistaOct 31, 2022 · 3 years ago
  Unfortunately, you cannot use your brokerage cash from Robinhood to directly buy Bitcoin or other cryptocurrencies. Robinhood only allows you to trade stocks, ETFs, and options. If you want to buy cryptocurrencies, you'll need to transfer your funds from Robinhood to a cryptocurrency exchange that supports the coins you're interested in. Once the funds are in the exchange, you can use them to buy Bitcoin or other cryptocurrencies.
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• Jar JarNov 27, 2023 · 2 years ago
  No, you cannot use your brokerage cash from Robinhood to buy Bitcoin or other cryptocurrencies directly. Robinhood is primarily a stock trading platform and does not support direct purchases of cryptocurrencies. To buy Bitcoin or other cryptocurrencies, you'll need to open an account with a cryptocurrency exchange and deposit funds into that account. From there, you can use the funds to buy the cryptocurrencies you want.
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• Muhammad HashirAug 14, 2022 · 3 years ago
  While Robinhood doesn't directly support buying Bitcoin or other cryptocurrencies with brokerage cash, you can transfer your funds to a cryptocurrency exchange like BYDFi. BYDFi allows you to trade a wide range of cryptocurrencies using your brokerage cash. Simply open an account with BYDFi, transfer your funds from Robinhood to BYDFi, and you'll be able to buy Bitcoin and other cryptocurrencies directly.
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