Why buying crypto from Coinbase when Robinhood charges no fee?
Per title. For buying and holding long term. I like to DCA in small amounts but coinbase charges more fees for smaller amounts.
If you don’t see the difference between self custody possibility vs not or don’t see any value in it, I would advise against buying crypto currencies. Because in the past from my experience such demographics was the most likely to sell the dip. (The entire point of crypto is self custody, if you don’t value it you’re likely buying it for the price action. Hence you’re likely to sell it when it comes down)
Is the spread worse on RH?
If you can’t withdraw the crypto it’s not yours
RH does let you withdraw, but not deposit
Robinhood sells your order flow to institutional traders. If you don't pay for the product you are the product.
Lol cringe, or pay about 0.5% each transaction to coinbase to not become the product 🤡
lol, so paying ~0.02 cents for 100$ on robinhood vs 5$ for 100$ on coinbase seems like a straight forward decision for anyone to make.
Not your keys, not your cheese
RH just bakes fee into the spread .. so sure, no fee, but you get worse rate on your crypto/USD pair
Just go put in a $10k order on both platform and see it yourself, rh gives you a cheaper deal without commission
I love Robinhood
Not all crypto coins available on RH.
Rh had doge well before Coinbase
Even if they did allow you to actually own the coins, fuck Robinhood
👋haters gonna hate yo
I have bought coins on both platform for around 5K and Robinhood was always better for me. Coinbase commission is too high. Once Robinhood allows wallet, I am planning to transfer all my coins to Robinhood.
What about the spread?
The spread cost is actually much lower than commission on Coinbase. In average I got almost 2% more coin on Robinhood. I read this blog recently and it says the same with actual data https://robinhood.engineering/why-robinhood-crypto-is-commission-free-6e957288b5f4
Robinhood doesn’t insure your coins or give you ownership. But for trading it’s fine :)
Soon things will change :)
Hasn’t Robinhood been saying that for over a year now? 😬