Robinhood expands its offerings in the crypto market and launches new features
In an effort to boost its presence in the crypto market, the platform told Robinhood that it has launched a dollar average value (DCA) feature for buyers wanting to purchase cryptocurrencies at normal tiers and intervals that they specify.
Promoting long-term cryptocurrency investments:
The new provider will enable Robinhood users to schedule purchases of their favored cryptocurrencies robotically and at regular intervals.
The new function used to be introduced in a current post, in which the buying and selling platform published that customers can mechanically schedule to purchase any cryptocurrency on their account frequently for $1 on a daily, weekly, biweekly or monthly basis.
From what was once referred to in the submit “Robinhood” the following:
No depend what your aim is to develop your cryptocurrency portfolio, flip it into full cash, or create a long-term investment plan, ordinary investments can help you get there with less stress.
Although the organization did no longer say which cryptocurrency will be integrated into the new service, the platform is anticipated to allow its customers to use this characteristic in any supported cryptocurrency such as:
Bitcoin, Ethereum, Dogecoin…
The announcement introduced that the initiative will be launched to allow customers to improve better saving habits and grow their investments over time.
Frequent Cryptocurrency Buying Without Fee:
Robinhood believes that the new provider will help decrease the influence of excessive market volatility on buyers due to the fact they will be more centered on long-term growth, while continually decreasing the inconvenience of monitoring cryptocurrency prices.
According to the company, involved traders can purchase their preferred currencies at regular intervals barring incurring any transaction fees, as the platform explained by saying:
The organisation delivered that the new crypto investment approach will be rolled out to all Robinhood clients later this month except for New York users.
In addition, at some stage in market fluctuations, users might also get hold of cash much less than the amount distinct when putting up the service.
While this is the first time Robinhood has launched a provider to restrict the impact of high market volatility, the US economic offerings enterprise took extreme measures before this yr via proscribing cryptocurrency trading due to uncommon market conditions. What I explained at the time.
By @natalia-irish
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