Robinhood Wallet Review: As good as a stock platform?

Robinhood Wallet Review: As good as a stock platform?

Robinhood Wallet: This article reviews on features, pros and cons of the wallet

Robinhood Wallet Review: About the Wallet

While Robinhood’s cryptocurrency integration may be appealing to those who want to manage all of their assets in one app, this platform still has a long way to go before becoming a true bitcoin bank, as users are unable to withdraw their own crypto holdings to personal wallets where they control the private keys.

Robinhood Wallet Review: Fees

The fact that Robinhood does not charge fees on transactions conducted on its platform has always been its main selling point. Robinhood has discovered new ways to monetise the trading of a wide range of assets, making it an appealing choice for anybody interested in trading the stocks, cryptocurrencies, and other assets available on the platform.

Robinhood Wallet Review: Features

Wallet TypeSoftware Wallet
PriceCommission Free Trading
Trust Rating High
Customer SupportApp, email and phone

Robinhood Wallet Review: Popular Review

SourceRating 
Google Playstore3.8
Appstore4.2
Cryptovantage4.1/5

Robinhood Wallet Review: How does it work

Bitcoin and other crypto assets are treated the same as any other asset on Robinhood’s platform. Robinhood allows users to trade bitcoin, Ether, Litecoin, Bitcoin Cash, Dogecoin, Ethereum Classic, and Bitcoin SV. It should be emphasised, however, that crypto trading takes place in a separate account from a regular Robinhood Financial account. This is a distinct Robinhood Crypto account. Robinhood does not currently support the transfer of bitcoins to and from its platform. In other words, when customers use Robinhood, they are not acquiring genuine crypto assets since they do not have the capacity to acquire the underlying assets at this moment. Instead, users get exposure to the price swings of the platform’s supported cryptocurrencies.

Robinhood Wallet Review: Pros and Cons

Pros Cons
Currency trading is commission free.The currency range is less and available only in the United States of America.
On mobile and desktop, the UI is sleek and user-friendly.A scandal arose surrounding the sale of user data to high-frequency traders.
Debit card supportive.Has had several security incidents.

Robinhood Wallet Review: Compatible Currencies and Countries

In terms of crypto assets, Robinhood Crypto now supports BTC, ETH, LTC, BCH, DOGE, ETC, and BSV. Traditional fiat currencies are not presently available for trading on Robinhood.

Robinhood Crypto is presently only available in 46 states in the United States; however, UK citizens may join a waiting list to obtain quick access to the platform whenever it comes over the pond. Hawaii, Nevada, New Hampshire, and West Virginia are the only states where Robinhood’s services are not presently available.

Robinhood Wallet Review: Review Video

YouTube video

Also read: Trust Wallet Review

Robinhood Wallet: Google Trends

– Dhvipasha Purohit

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

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