Recurring investments are features that let consumers to save money long term
Robinhood trading platform recently stated that it would be introducing a new feature which will let the users invest regularly invest in their favourite coins commission-free and with as little as $1 on a schedule of their choice. The recurring crypto investments will let users of the Robinhood app to automatically invest in virtual coins like Bitcoin, Ethereum, Dogecoin or any other cryptocurrency.
Recurring investments are elements which lets people to save money for the long-term and build a rainy-day fund. The crypto industry is very volatile and losing money for them is an everyday fear that they fight. So, investing in recurring basis will help investors focus on reducing risks and stress of timing the markets. Robinhood recently declared rollout out of the feature through a blogpost which stated that the recurring investments brought a strategy to develop wealth over time while reducing the effect of the volatility in the crypto market.
The online brokerage firm’s way of beginning the feature is to motivate automatic investing and not trading. Investors shouldn’t concern themselves about the market fluctuations and invest the same amount regularly to create a corpus which would eventually help you gain profits. Robinhood is attracting investors by stating that they can invest in different multiple coins without “ever incurring a fee” and comparing this with other platforms which charge a commission fee of up to four percent for every crypto trade. “If you spend $100 to buy a bitcoin, you’ll get $100 worth of cryptocurrency. period,” reads the blog “our mission is to democratise finance for all”
Robinhood will be introduced to all its customers during this month. Robinhood said that Dogecoin, the meme-based crypto which is hugely promoted its Q2 revenue. The commission-free crypto trading app introduced its IPO towards the end of July. Robinhood allows investors to buy and sell leading digital currencies which brought commission-free trading to the latest investors and has benefitted hugely from cryptocurrency.