How does Robinhood handle dividend reinvestment for cryptocurrencies?
MrSensibleDec 25, 2021 · 3 years ago3 answers
Can you explain how Robinhood handles dividend reinvestment for cryptocurrencies? I'm curious about how it works and if it's different from traditional dividend reinvestment for stocks.
3 answers
- Dec 25, 2021 · 3 years agoSure! Robinhood does not currently offer dividend reinvestment for cryptocurrencies. When you receive a dividend from a cryptocurrency holding on Robinhood, it will be deposited as cash in your account. You can then choose to reinvest that cash into other cryptocurrencies or withdraw it to your bank account.
- Dec 25, 2021 · 3 years agoRobinhood doesn't have a specific dividend reinvestment program for cryptocurrencies. When you receive a dividend from a cryptocurrency, it will be credited to your account as cash. You have the flexibility to decide whether you want to reinvest that cash into other cryptocurrencies or withdraw it as fiat currency.
- Dec 25, 2021 · 3 years agoAs of now, Robinhood does not support dividend reinvestment for cryptocurrencies. When you receive a dividend from a cryptocurrency, it will be converted into cash and added to your account balance. You can then use that cash to buy more cryptocurrencies or withdraw it to your bank account. However, it's worth noting that other cryptocurrency exchanges, like BYDFi, offer dividend reinvestment programs for certain cryptocurrencies.
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