If you are looking for How to Buy Crypto on Robinhood, then you just reach the best place on the internet. Just follow this article.
For Cryptocurrency Investing in your Robinhood app, the first thing you need before you start is, Buying power. Which we discussed in our Previews article, (How to add money to Robinhood account in 2022) that’s how you can add buying power to your Robinhood account.
Important Point:- Your cryptocurrency assets are held in your Robinhood Crypto account, not your Robinhood Financial account, so they’re treated as Non-Marginable, with a maintenance requirement of 100%. This means your cryptocurrencies need to be backed entirely by cash, and can’t serve as collateral for equities positions.
How to Buy Crypto on Robinhood in 2022
1) In the first step open the Robinhood app on phone & as the app opens up then tap on the Search icon at the bottom middle side.
2) On the browse page you’ll get the different trading lists, you can explore them if you want, but if you tap on the “search companies” option at the top then you can search any Crypto by its name. For now, tap on the Crypto option as shown in the picture below.
3) Now here you’ll see some crypto that you can invest in. So for example, if you want to invest in Bitcoin then tap on its name or you can also directly search its name in the previews step.
4) Next, tap on the Buy option you got at the bottom.
5) Now enter “Amount in USD” that you want to invest in crypto & Tap on the Review.
6) On this page, it’ll show your order’s details. If all looks good then swipe up to submit your Crypto Buy order.
7) Now it’ll show you that your order completed. Below that it’ll give you details of that order. Just tap on the Done button & that’s it you just completed the process of buying a cryptocurrency in the Robinhood app.
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Frequently Asked Questions
Can I use Robinhood to buy crypto?
Yes, you can use Robinhood to buy crypto. And same as other investment options, a big benefit of trading crypto on Robinhood is a lack of fees. This thing is very different in other exchanges.
Why is Robinhood not letting me buy crypto?
If your Robinhood account is not letting you buy the crypto then the only reason behind this is that you don’t have enough Buying power in your account. According to Robinhood, ” Crypto is Non-Marginable and can’t count as collateral, so you’ll need to have enough cash in your account to place the order”.
Wrap up: Buy Crypto on Robinhood
So this is all on the topic of How to Buy Crypto on Robinhood in 2022. I hope it helps you.
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