Robinhood Launches Crypto DCA Feature As Competition Intensifies

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As fintech apps are more and more competing for crypto customers, US on-line buying and selling platform Robinhood has introduced it’s rolling out crypto recurring investments. It would allow its customers to purchase cryptoassets frequently, commission-free and beginning at USD 1 on a each day, weekly, biweekly, or month-to-month schedule.

Robinhood said that its function allows customers to pursue a method to develop their bitcoin (BTC), ethereum (ETH), dogecoin (DOGE), and different holdings over time, all of the whereas doubtlessly decreasing the impression of market volatility.

“The crypto markets may be unstable because of the nature of the business. Investing on a recurring foundation may help you concentrate on long-term progress, scale back threat, and scale back the stress of timing the markets. This can be a technique referred to within the business as dollar-cost averaging,” the platform stated. 

Greenback-cost averaging, or DCA for brief, is the method of dividing up an funding in a sequence of smaller purchases unfold out over time, somewhat than going into an funding with a bigger quantity at one time.

One other benefit to implementing such a method was associated to the platform’s commission-free supply, designed to lure prospects away from its competitors.

“Many different crypto buying and selling platforms cost a fee price as much as 4% for every crypto commerce,” the corporate stated, including that “at Robinhood, should you place an order and spend USD 100 to purchase bitcoin, you’ll get USD 100 price of bitcoin.”

Robinhood shouldn’t be the primary platform to offer such a function to its customers, with rivals such because the UK-based Revolut additionally offering the recurring purchase performance to its prospects.

The most recent growth supplies one more proof that main fintechs are stepping up their recreation with a view to appeal to new prospects from the cryptosphere. 
Study extra: 
Set and Forget: Top Auto-DCA Services in Bitcoin 
This Is Why Robinhood Doesn’t Allow You to Withdraw Bitcoin, DOGE & Co. 

Robinhood Gets USD 70M Penalty Due To ‘Signigificant Harm’
Fintech Heavyweights Revolut, Robinhood Gun for More Crypto Gains 

Written by CryptoMoonPicks

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