What are the 90-day buy restrictions on Robinhood for cryptocurrencies?

3 answers

• Mohammad YaseenFeb 26, 2021 · 4 years ago
  The 90-day buy restrictions on Robinhood for cryptocurrencies are a measure implemented by the platform to protect users from potential risks associated with volatile markets. These restrictions apply to new users who have just opened their Robinhood accounts and are designed to ensure that users have a basic understanding of cryptocurrency trading before they can engage in more advanced trading activities. During the 90-day period, new users are limited to buying and selling cryptocurrencies but are not allowed to withdraw or transfer them to an external wallet. This restriction helps prevent new users from making impulsive decisions and potentially losing their funds. After the 90-day period, users can trade cryptocurrencies freely and have full control over their assets.
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• Benjamin TongNov 25, 2023 · 2 years ago
  The 90-day buy restrictions on Robinhood for cryptocurrencies are put in place to protect inexperienced users from making hasty decisions in the volatile cryptocurrency market. These restrictions aim to ensure that users have a better understanding of the risks and dynamics of the market before they can engage in more advanced trading activities. During the 90-day period, users can buy and sell cryptocurrencies on Robinhood, but they are not allowed to withdraw or transfer them to an external wallet. This restriction helps prevent users from falling victim to scams or making uninformed investment decisions. After the 90-day period, users can freely manage their cryptocurrencies and take advantage of the full functionality of the platform.
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• Salomonsen TobiasenFeb 07, 2024 · a year ago
  The 90-day buy restrictions on Robinhood for cryptocurrencies are part of the platform's efforts to promote responsible trading and protect users from potential losses. These restrictions are in line with industry best practices and aim to ensure that users have a solid understanding of cryptocurrency trading before they can engage in more complex transactions. During the 90-day period, users can buy and sell cryptocurrencies on Robinhood, but they are not allowed to withdraw or transfer them to an external wallet. This restriction helps prevent users from making impulsive decisions and potentially losing their funds. After the 90-day period, users have full control over their cryptocurrencies and can freely manage their assets.
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