Is my Robinhood IRA insured against cryptocurrency losses?
himanshumeenaDec 26, 2021 · 3 years ago3 answers
I have a Robinhood IRA account and I'm wondering if it is insured against any losses I may incur from investing in cryptocurrencies. Can someone please clarify if my Robinhood IRA is protected against cryptocurrency losses?
3 answers
- Dec 26, 2021 · 3 years agoYes, your Robinhood IRA account is insured against cryptocurrency losses. The Securities Investor Protection Corporation (SIPC) provides coverage for up to $500,000 in securities, including cash, held in a Robinhood IRA account. However, it's important to note that cryptocurrency investments are not considered securities and are not covered by the SIPC. So, while your IRA account itself is insured, any losses from cryptocurrency investments are not protected.
- Dec 26, 2021 · 3 years agoNo, your Robinhood IRA account is not insured against cryptocurrency losses. The Securities Investor Protection Corporation (SIPC) only provides coverage for up to $500,000 in securities, including cash, held in a Robinhood IRA account. Since cryptocurrencies are not considered securities, they are not covered by the SIPC. Therefore, any losses you may incur from investing in cryptocurrencies through your Robinhood IRA account are not protected.
- Dec 26, 2021 · 3 years agoWhile your Robinhood IRA account is insured against certain losses, it's important to understand that cryptocurrency investments are not covered by the insurance provided by the Securities Investor Protection Corporation (SIPC). The SIPC only covers securities, including cash, held in your IRA account. Since cryptocurrencies are not considered securities, they are not protected. Therefore, any losses you may experience from investing in cryptocurrencies through your Robinhood IRA account are not insured by the SIPC.
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