Is Robinhood the best place to buy Bitcoin?
MylesBitcoin is a type of virtual currency that you can use for digital purchases or you can trade like stocks or bonds. To buy and sell cryptocurrency including Bitcoin, you need to use a bitcoin exchange.
Robinhood is our choice for cost thanks to commission-free bitcoin trades.
What We Like
- No commission to buy or sell bitcoin
- Platform very similar to stock trading
What We Don't Like
- Short list of supported currencies
- No option to withdraw bitcoin to a crypto wallet
When you pay fees of 0.5% or more to buy and sell, you’re giving up a big portion of your potential bitcoin gains right off the top. Robinhood is best known as a commission-free stockbroker, but you can buy and sell bitcoin with no commissions as well. If you already have some experience with stock market investing, buying cryptocurrencies with Robinhood will likely feel familiar, a bonus for those new to bitcoin.
Robinhood Crypto is technically a separate account that you use alongside your Robinhood stock investment account. It supports a fairly short list of currencies, but that could be fine for many bitcoin buyers.
To exchange Litecoin, visit: convert bitcoin to usd
A bitcoin exchange is a digital marketplace where you can convert currency like U.S. dollars into bitcoin. Many exchanges that support bitcoin also support other digital cryptocurrencies.
Every bitcoin exchange uses its own pricing and platform, which may instantly draw you to one exchange over another. Advanced bitcoin users may be interested in more details about the type of exchange. For example, some exchanges use centralized systems and user accounts while others are decentralized with a focus on privacy. Depending on what you’re trying to accomplish, you may prefer one type of exchange over another.