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To trade crypto, open the Robinhood app, tap the crypto tab or search for a coin, and click “Buy” or “Sell.” Crypto trades are available 24/7. You don’t need a separate wallet, and there are no commissions on trades.
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Popular cryptos on Robinhood include Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). Choosing the best depends on your risk tolerance and market outlook. Always do research or consult a financial advisor before investing.
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Go to the search bar in the Robinhood app, type in the name of the crypto you want, and tap “Buy.” Enter the amount or number of coins you wish to purchase. Confirm the trade and track your investment in the crypto tab.
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Bank transfers can take 3–5 business days, especially if it's your first time or the amount is large. Also, deposits and withdrawals may be delayed due to account verification or bank processing times.
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To cancel a pending deposit or withdrawal, go to the “History” tab in the app, find the pending transaction, and tap "Cancel." You can only cancel if the transaction hasn't started processing yet.
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Deposits may fail due to insufficient funds, incorrect bank details, or a blocked account. Reversals also happen if the linked bank account rejects the transfer. Double-check bank info and account status.
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A trade may not execute due to low liquidity, price changes, or if it's a limit order that hasn't reached your set price. Check your order status and type for more clarity on why it didn’t go through.
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Go to the “Orders” tab, tap the pending order, and select “Cancel.” Modifications aren’t allowed, so canceling and placing a new order is the only option. Ensure it's done before execution.
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Your 1099 reflects all taxable events including short-term trades, dividends, and crypto activity. Gains/losses may be higher due to frequent trades, automatic dividend reinvestment, or wash sales.
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