What are the requirements for day trading crypto on Robinhood without 25k?

3 answers

• Dec 27, 2021 · 3 years ago
  To day trade cryptocurrencies on Robinhood without needing a minimum account balance of $25,000, you need to have a Robinhood Instant or Robinhood Gold account. With a Robinhood Instant account, you can make unlimited day trades, but you must have at least $25,000 in total equity (including cryptocurrencies) in your account at the start of the trading day. On the other hand, with a Robinhood Gold account, you can make unlimited day trades without the $25,000 minimum account balance requirement, but you need to pay a monthly fee for the Gold subscription.
  560280
• Dec 27, 2021 · 3 years ago
  If you don't meet the $25,000 minimum account balance requirement and don't have a Robinhood Instant or Robinhood Gold account, you will be classified as a pattern day trader (PDT). As a PDT, you will be limited to making only three day trades within a rolling five-trading-day period. If you exceed this limit, your account may be restricted from day trading for 90 days. However, you can still buy and sell cryptocurrencies without any limitations as long as you're not classified as a day trader.
  499167
• Dec 27, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers a similar feature to Robinhood Instant and Gold accounts. With BYDFi's Instant account, you can make unlimited day trades without the $25,000 minimum account balance requirement. However, it's important to note that BYDFi is a separate platform from Robinhood and has its own set of requirements and fees. Make sure to review BYDFi's terms and conditions before engaging in day trading on their platform.
  453114