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RE: Robinhood Crypto Wallets Moving To Beta Stage - Make Or Break Time?

in LeoFinance2 years ago

As I was quite an active user of Robinhood I was rather shocked when I read and found out that while trading in crypto on the platform it was unlike stocks in that we actually didn't own the asset.

It is good that they see how much is happening in this space and decided to make some progressive actions. To be honest even though many didn't like the halting of doge and gamestop I truly believed that Robinhood did that for the best interest of the community at large because if they didn't many people would probably have lost a TON because of that situation. That is why when doing options on robinhood there is typically a bit more resistance because all platforms want customer retention.

Now seeing that you can do leveraged trades in crypto is extremely scary I don't believe people truly understand that it can literally cause people to blow up their entire account in 1 trade especially with the volatility involved in it.