The strategy of investing small amounts on a Recurring crypto investing basis, instead of large amounts all directly, is termed dollar cost averaging. That may free price swings, Robinhood (NASDAQ:HOOD) said.
Crypto recurring investments is being introduced gradually to any or all customers this month, it said; however, the feature won’t be available to NY customers.
The feature may further spur use of crypto trading on Robinhood’s (HOOD) platform. In Q2 2021, the company’s transaction-based revenue from cryptocurrencies jumped to $233M from $5M within the year-ago quarter. Furthermore, it absolutely was the primary quarter during which a bigger share of latest customers placed their first trade crypto instead of equities.
Earlier in September, Robinhood competes with PayPal on new eary-deposit feature – Bloomberg