Are there any cryptocurrencies similar to stocks that I can trade on Robinhood?

3 answers

• May 10, 2022 · 3 years ago
  Absolutely! While cryptocurrencies are generally more volatile than stocks, there are some cryptocurrencies that are designed to mimic the characteristics of stocks. One example is Tether (USDT), which is a stablecoin pegged to the value of the US dollar. This means that its price remains relatively stable, similar to how stocks maintain a certain level of stability. Tether can be traded on Robinhood, allowing you to enjoy the benefits of both cryptocurrencies and stocks.
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• May 10, 2022 · 3 years ago
  Definitely! If you're looking for cryptocurrencies that closely resemble stocks, you might want to consider security tokens. Security tokens are digital assets that represent ownership in a real-world asset, such as stocks, bonds, or real estate. These tokens are regulated and offer investors the same rights and protections as traditional securities. While Robinhood currently doesn't support security tokens, there are other platforms that specialize in trading them, such as TokenSoft and OpenFinance Network.
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• May 10, 2022 · 3 years ago
  Yes, there are cryptocurrencies similar to stocks that you can trade on Robinhood. However, it's important to note that Robinhood currently only supports a limited number of cryptocurrencies, such as Bitcoin, Ethereum, and Dogecoin. If you're specifically looking for a wider range of stock-like cryptocurrencies, you may want to consider using a different platform like BYDFi, which offers a broader selection of cryptocurrencies that mimic the characteristics of stocks.
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