Is Robinhood Crypto Safe?
What do you think about Robinhood Crypto's financial health? With FTX going nuts and Binance going crazy. Is it safe for us to save our crypto at Robinhood? Will it also see the Liquidity crunch like FTX? Which crypto exchanges Robinhood is heavily dependent on for Crypto transactions?
The key is to use a US based exchange that falls under US regulation. For example, FTX.us has had 0 liquidity issues and will fully cover all deposits because it has to (not that anyone in their right mind should still use them). So Coinbase, Robinhood, etc. are all fine.
If that is the case then why voyager went bankruptcy?
FTX.us is fine just like Bear Stearns is fine? This didn't age well.
Your crypto is safe nowhere, as crypto itself is worth nothing. I suggest you start investing in adult assets.
"adult assets" is a terrible form of gatekeeping and close-mindedness. This is the equivalent of people from the 90s and early 2000s calling the internet a fad.
You're saying that crypto isn't just a fad?
Safest is to move your crypto into your own wallet. Don't trust any exchanges.
We have around 6 billion USD in cash. And your crypto assets are stored securely in our cold storage. We aren't involved in shady investments using customer assets like FTX, Voyager, ...
We also have multiple market makers that provide liquidity for trades. We are not directly dependent on public exchanges.
finra lol
https://twitter.com/vladtenev/status/1590587230040776704?t=x8WBlyUY93iCK5T22NKRCg
Robinhood has 6B in reserves, and learned it’s lesson about keeping enough reserves after GME. Just in case anyone thinks I’m a shill, I don’t work there anymore 😂
You can find Robinhood cold addresses. They match AUC filings.
Robinhood and Coinbase are public requiring us to see their balance sheets. I haven’t looked at Robinhoods but Coinbase has cash reserves for sure. It’s safer than a private exchange but I would still pull your crypto and put it into cold storage if it’s for long term.
RH has $6b in cash. It’s all public information.