Robinhood has revealed a new feature that allows cryptocurrency inventors to focus on long-term goals. According to a blog announcement, crypto recurring investment allows users to regularly buy coins with as little as $1 on a daily, weekly, or monthly basis.
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"Saving is a habit and recurring investments introduces a strategy to grow holdings over time while potentially reducing the impact of market volatility," the broker said.
Robinhood says the new feature reduces volatility risks and the stress of timing the markets. The broker emphasizes that other crypto trading platforms charge a commission fee up to 4% for each crypto trade.
Robinhood's new crypto-focused feature comes after US Securities and Exchange Commission (SEC) Chair, Gary Gensler, told Barron's that banning payment for order flow — which is Robinhood main business model — was an option "on the table." According to Gensler, the practice has "an inherent conflict of interest."
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