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Robinhood and cryptocoin question?

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Comments

  • greenblood
    greenblood Member Posts: 14,566
    BuffBuffPass said:

    Using Robinhood for crypto is one of the dumbest things you could ever do. The whole point of crypto is that you have the ability to easily self-custody. Robinhood doesn't allow you to actually withdraw your crypto, which means they may not even have the crypto you think you just bought. At least on Coinbase and the others, you can buy it and leave it on there while you learn how to self custody.

    Who cares if your trades last for only a few hours?
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  • ntxduck
    ntxduck Member Posts: 6,232
    edited April 2021
    BuffBuffPass said:

    Using Robinhood for crypto is one of the dumbest things you could ever do. The whole point of crypto is that you have the ability to easily self-custody. Robinhood doesn't allow you to actually withdraw your crypto, which means they may not even have the crypto you think you just bought. At least on Coinbase and the others, you can buy it and leave it on there while you learn how to self custody.

    RH is rolling out wallets within 6 months. I think it depends on your horizon, too. If you’re short term, rh is fine. Long term, you want it in an external wallet.
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  • PurpleThrobber
    PurpleThrobber Member Posts: 48,545 Standard Supporter
    Check out Exodus - upcoming IPO for wallets.

    Most importantly - joobs are not to be fucked with.



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