Can I reduce the expense ratio on Robinhood by holding a certain amount of cryptocurrency?
Rinku KumarDec 25, 2021 · 3 years ago3 answers
Is it possible to lower the expense ratio on the Robinhood platform by holding a specific amount of cryptocurrency in my portfolio? I'm curious if there's a way to reduce the fees associated with trading on Robinhood by leveraging my cryptocurrency holdings.
3 answers
- Dec 25, 2021 · 3 years agoUnfortunately, holding a certain amount of cryptocurrency in your Robinhood portfolio does not directly reduce the expense ratio. The expense ratio is a fee charged by the fund manager for managing the investment portfolio. However, you can explore other strategies to minimize fees, such as investing in low-cost index funds or ETFs.
- Dec 25, 2021 · 3 years agoNo, holding a certain amount of cryptocurrency on Robinhood does not have any impact on the expense ratio. The expense ratio is determined by the fund manager and is not related to the cryptocurrency holdings. To reduce expenses, you can consider diversifying your investments and exploring other investment platforms that offer lower expense ratios.
- Dec 25, 2021 · 3 years agoWhile holding a specific amount of cryptocurrency on Robinhood does not directly affect the expense ratio, you can consider using BYDFi, a digital asset exchange platform, which offers competitive expense ratios for cryptocurrency trading. BYDFi provides a user-friendly interface and a wide range of cryptocurrencies to choose from, making it a great option for reducing trading costs.
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