Robinhood, please let me short crypto

Adobe HaroldWren
May 11 13 Comments

I would 100% upgrade to gold or platinum or whatever you would call it by then.

RH is great for what it does and I found crypto to be awesome tool especially when the market is closed. I trade short term. But BTC won’t always be going up and if I’m predicting a downturn I’d love to be able to do something about it other than sitting in cash.

This would likely require RH to keep some crypto reserves, but I’m happy to pay interest on the “shares” I borrow.

Along the same lines, FOREX and Futures are 24 hr markets (ish) but I think those would be much harder to implement.

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TOP 13 Comments
  • New burundi
    You’ll love Robinhood in a few months for preventing you to go bankrupt shorting BTC.
    May 11 2
    • Google / Eng FudgMuppet
      Hahaha this was my thought as well. BTC volatility is insane and movements large. OP must have balls of steel or be a huge whale to short it.
      May 11
    • Adobe HaroldWren
      OP
      Couple of points:
      1. I already love RH
      2. I am long-term (12-18 mo) bullish on BTC but all markets have corrections. On the daily basis there are days when I’d love to be short
      May 11
  • Salesforce CapHaddock
    Why don’t you open an account on BitMex and short with 100x leverage?
    May 11 2
    • Accenture shortsell
      I know founder of BitMex... Smart guy!
      May 12
    • Adobe HaroldWren
      OP
      100x leverage is stupid, ask Lehman Bros. The point isn’t that I want to short btc, there are ways to do so. The point is that crypto is RHs only round-the-clock offering and the only way to benefit from it is when it is going up. I think this would be a unique thing for them to offer and will get me to pay monthly premium and move toward them as my only broker
      May 12
  • Google coolguy00
    you'd have to be pretty crazy to short crypto on a bull run.
    May 11 0
  • OpenText TSLAstock🤣
    You could open a futures account with most major brokerages and then short btc. Commission for each trade is only a few dollars.
    May 11 1
    • Adobe HaroldWren
      OP
      Yup, I have ally, I don’t trade btc there but other futures. Would love to move 100% to RH though
      May 11
  • New / Other
    DuQvV7y

    New Other

    BIO
    Did stuff. Hustled hard. Retired
    DuQvV7ymore
    Anyone crazy enough to short a volatile instrument deserves to lose their shorts (in a literal sense).

    I wouldn’t buy bitcoin with a stolen nickel, but I did buy puts (if available) all day long
    May 12 1
    • Adobe HaroldWren
      OP
      Options on crypto would be better, I agree, but that requires creating a whole new market.
      May 12
  • Accenture shortsell
    @OP Robinhood isn't isn't an app with sophisticated investors, or investors, or people whom should be trading any sort leveraged instruments (options)! Letting people short crypto would be the financial equivalent of the casino putting $100 on your credit card for every $1 you walked up to the table with ... No one would be able to cover it. And they're already blowing up their accounts on WSB.
    May 12 1
    • Adobe HaroldWren
      OP
      False. They offer margin(gold), they offer options trading
      May 12