• Robinhood Expands Crypto Services by Introducing a No-Fee Recurring Purchase Feature for Hodlers

  • Robinhood has expanded its cryptocurrency services by introducing a recurring investment feature, which encourages long-term holdings while mitigating the impact of market volatility.

    Robinhood, a popular digital asset investment app, announced the launch of a Dollar-Cost Average (DCA) feature for investors in an effort to promote long-term cryptocurrency holdings.

    Advising on Long-Term Crypto Investments

    The Crypto Recurring Investments service will allow Robinhood users to automatically schedule purchases of their favorite cryptocurrencies in bits and at regular intervals.

    The trading platform announced the new feature in a recent blog post, revealing that users can automatically schedule to buy any cryptocurrency on their account for as little as $1 on a daily, weekly, biweekly, or monthly basis.

    “Our mission is to democratize finance for the benefit of all.” “Recurring investments can help you get there with less stress and hassle, no matter what your goal is – grow your crypto portfolio, become a whole coiner, or create a long-term investment plan,” Robinhood said in a statement.

    Although the company did not specify which cryptocurrency will be supported by the service, it is expected that customers will be able to DCA into any coin or token that is supported. These include, among others, Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).

    According to the announcement, the initiative will be launched to help users develop better saving habits and grow their investments over time.

    Purchase of Recurring Cryptocurrency at No Cost

    Robinhood believes the new service will help reduce the impact of high market volatility on investors by allowing them to focus on long-term growth rather than constantly monitoring cryptocurrency prices.

    The company claims that interested traders can buy their favorite coins at regular intervals without incurring any transaction fees.

    “If you place an order and spend $100 on bitcoin, you will receive $100 in bitcoin. Period.”

    The new crypto investment strategy will be available to all Robinhood customers later this month, with the exception of New York customers, according to the company.

    According to the platform’s specifications, all recurring crypto orders will be processed between 6:30 p.m. and 8:00 p.m. UTC. Furthermore, during periods of market volatility, users may receive fewer coins than the amount specified when the service was set up.

    While this is the first time Robinhood is launching a service to mitigate the effects of high market volatility, the U.S. financial services company took extreme measures earlier this year by restricting crypto trading due to “extraordinary market conditions.”

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