What are the fees associated with using Robinhood debit card for buying and selling cryptocurrencies?

3 answers

• Jan 05, 2022 · 3 years ago
  When it comes to using the Robinhood debit card for buying and selling cryptocurrencies, there are a few fees to keep in mind. First, there is a fee of 2.6% for each transaction made with the card. This fee is charged by Robinhood and is in addition to any fees that may be charged by the cryptocurrency exchange. It's important to note that this fee is higher than what you would typically pay when using a bank account or a credit card to buy or sell cryptocurrencies. However, the convenience of using the Robinhood debit card may outweigh the higher fees for some users. In comparison to other payment methods, the fees associated with the Robinhood debit card are generally higher. Bank transfers and ACH transfers, for example, typically have lower fees or are even free on some exchanges. Credit card transactions may also have lower fees, depending on the exchange. It's always a good idea to compare the fees of different payment methods before making a decision. As for additional charges or hidden fees, Robinhood does not mention any specific charges in relation to the debit card. However, it's important to carefully review the terms and conditions and fee schedule provided by Robinhood to ensure you are aware of any potential fees that may apply to your account.
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• Jan 05, 2022 · 3 years ago
  Using the Robinhood debit card for buying and selling cryptocurrencies comes with its fair share of fees. For each transaction made with the card, you will be charged a fee of 2.6%. This fee is applied by Robinhood and is separate from any fees charged by the cryptocurrency exchange. While this fee may seem high compared to other payment methods, it's important to consider the convenience and ease of use that the Robinhood debit card offers. Additionally, it's worth noting that the fees associated with the Robinhood debit card may vary depending on the specific cryptocurrency being bought or sold. When comparing the fees of the Robinhood debit card to other payment methods, it's important to consider factors such as transaction speed and convenience. While bank transfers and ACH transfers may have lower fees, they can often take longer to process. Credit card transactions may offer lower fees, but they may also come with higher interest rates if not paid off in full. Ultimately, it's up to the individual user to weigh the pros and cons and decide which payment method works best for them. In terms of additional charges or hidden fees, it's always a good idea to carefully review the terms and conditions provided by Robinhood. While there may not be any specific charges mentioned, it's important to stay informed and be aware of any potential fees that may apply.
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• Jan 05, 2022 · 3 years ago
  When it comes to using the Robinhood debit card for buying and selling cryptocurrencies, there are a few fees that users should be aware of. The main fee associated with the card is a 2.6% transaction fee, which is charged by Robinhood for each transaction made with the card. This fee is in addition to any fees that may be charged by the cryptocurrency exchange. While this fee may seem high compared to other payment methods, it's important to consider the convenience and accessibility that the Robinhood debit card offers. In comparison to other payment methods, such as bank transfers or credit card transactions, the fees associated with the Robinhood debit card are generally higher. Bank transfers and ACH transfers, for example, may have lower or even no fees on some exchanges. Credit card transactions may also have lower fees, depending on the exchange. It's always a good idea to compare the fees of different payment methods to find the most cost-effective option. As for additional charges or hidden fees, it's important to carefully review the terms and conditions provided by Robinhood. While there may not be any specific charges mentioned, it's always a good idea to stay informed and be aware of any potential fees that may apply to your account.
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