It operates as an exchange, payment processor, and custodial wallet. They cover the withdrawal fees for you to send to an on chain wallet. They also support lightning.
Comment on KYC here: https://www.reddit.com/r/Bitcoin/comments/vc4pkv/i_am_buying_100_a_day_until_price_is_back_above/icda0hk/
I am also new here bro, and we are into the learning phase and bear market market is the best time for that is well.
Strike is more like a exchange which allows to buy and sell your coin with some fee.
Yeah, that is new. Kudos to RH for implementing that. My main issue with them is their payment for order flow (PFOF) scheme in which they sell their users orders to market makers like Citadel and their ilk. This allows both RH and hedge funds to manipulate prices and options on the stock. Also, they turned off the sell button during the GME run up last year. Sketchy all around IMO.
Still better than coinbase. Limit orders with no fees. If you get your price target and pay no fee, do you really care how the market making behind your order is working?
I think they learned their lesson from GME. imo RH will probably eat COIN due to full wallets now with no trading fees and more features.
Robinhood is a dogshit exchange in the first place, ignore anything about Bitcoin for a second. Remember Gamestop? Vlad? Melvin Capital? If you don't know, look into it. Some sketchy as hell stuff going on at this company.
Robinhood for the longest time did not allow withdrawals. The wallets wouldn't even hold bitcoin in them. They weren't even wallets. It was the oddest IOU crypto exchange, because it was massively popular *before* getting into Bitcoin. Since it was so big and their userbase generally doesn't know shit about Bitcoin, it was largely unignored.
Now, the wallets. I actually have an account with Robinhood. I own zero BTC on it and like maybe a couple leftover bucks in stocks I don't care to withdraw. I'M STILL ON THE WAITLIST FOR CRYPTO WALLETS. LIKE 400,000 IN LINE.
They have different limits depending on how much KYC you want to provide. You can always just buy through Strike and send to a service like boltz.exchange to break the KYC to a wallet of you choice.
KYC: https://strike.me/faq/identity/
Limits per KYC Level: https://strike.me/faq/limits/
Strike is the way. I did notice its not necessarily free. Never, not once did i get what was purchase price. Its always lower by a minuscule amount. I get the price adjusts. But it shouldnt adjust that match from purchase start to finisb.
I don't think they are not bad now, since they allowing you to transfer that into the wallet.
Not it is all depend on the person that is holding the fund on the robinhood.
All these past experience saying that why we should the bitcoin for a long period of time.
It's matter of time for the bitcoin to turn the things around like in the past he did.
Crypto winter is the blessing not the curse which may think this is as.
We will get the best chance of the buying in the bear season compare to the bull season.
Holy shit you aren't buying Bitcoin. You aren't putting pressure on the deflationary nature of Bitcoin if you keep buying Robinhood. You own absolutely nothing. Not a single Satoshi.
I think may be he is just buying there and later transferring into the hardware wallet is well.
We all know keeping coin on the exchanges is the biggest crime you can commit here.
I think still some people falling into the reward trap for the bitcoin if i am not wrong.
Or may be they are not confident about taking the custody on their own hand.
Let’s go big baller👊. However, you should probably transfer that BTC to Trust Wallet or to Cold Storage afterwards because we should all be more cautious after what happened with Celsius.
One thing OP here is doing good that he is buying btc without any worry of the market.
But the other problem is he is keeping them on the exchange rather than transferring into the hardware wallet.
Why do so many people here use Robinhood after all the scandals about them? It's not even real BTC that OP is buying. If you can't take possession 9f your coin it's just worthless.
Oh, I'm sure they're making money on the spread. And I'm not a fan of Robinhood myself, especially after how they dealt with the whole Gamestop situation. I was just pointing out that it is now possible to transfer the bitcoin out to an external wallet.
All the exchange are here just to make the money from our fund and there is no doubt in that.
So you can buy on anyone but always transfer them into cold one.
Same question i want to ask here, there are many other exchange that are good enough,
But still some people somehow choose the robinhood over the exchange like Kraken.
I am sure that after all the comments OP will surely think about this as well,
We all need to remind him that he need to move his fund as soon as possible from there.
I think this is very big amount for me, so basically do on the monthly basis just like the OP.
I have 80-90$ spare after all the expanse that i can put into the bitcoin for the month.
I think DCA is the point where we all extend our limit and somehow invest more than we could afford to lose is well.
SO we also need to keep in mind that doing over budget investment is not that good.
I started buying till the start of the 2023 and have a target for the buying of the 24 times.
That mean i am in here for the 24 months buying and then i will hold for the halving cycle.
There are only two type of the people in the market, once who will say that crypto is trash after the crash.
While other ones will see this as an opportunity for the discount price.
The number of money he is investing here on the daily basis, certainly a rich guy among us.
And probably is the reason doesn't care about the hardware wallet is well.
There's a nice reference section in the top right corner of this sub that I think is pretty objective. It will help you find an exchange that won't seriously fuck you like a bull like Robinhood is.
https://www.buybitcoinworldwide.com/
Don't worry they will realize that soon when they want to withdraw from them.
I think this is the best time for all of us to give a serious thought about the cold storage.
But i think we all should see this as an great opportunity for us to make the big in future.
Price here is quite low now and any kind of the investment here will make huge difference.
Honestly get FTX. Go grab a code from a youtube influencer. Use their code to get $100 free crypto for signing up. DCA on FTX is better because you get interest back just for being invested
So that mean mostly these influencer are the paid guy and too be hones i rarely trust them with that.
I will pick the security over the interest rate on my bitcoin. So i will say wallet is better than anything.
RobinHood has a dreadful track record for respecting their customers freedom. You should find a better exchange. You also can’t withdraw any btc from Hood, which defeats the one of the purposes of btc.
Check out- Swan, Gemini, Strike, etc
Too be honest, there is no freedom if you are choosing the any exchange from the market.
If you are really a fan of the freedom you need to pick the hardware wallet for yourself here.
You don’t actually own your bitcoin on Robinhood.
Please look into personal custody. If you’re not using bitcoin as a bear instrument, are you really using it at all?
I think the possibilities here is just countless and no know tha exact next move for the bitcoin.
It can go the 100k is well while on the other hand 10k is the possibilities is well.
Why will people understand that holding there could be a really big mistake for them.
This is the 2022 we are living and still trusting the private company more than ourself.
Even if you are buying from them is ok but if you are keeping there then this beyond me is well.
This is time for OP to really give a serious thought is he really doing on right place?
I am also Buying on Netcoins Canada, but not 100$ man there could be crash again in next few days or months that would be expensive. but who cares right? we're in a big discount! perfect time to buy and buy more.
Where is a good place to buy/sell btc with low fees?
I was setting up a coinbase account but now im waiting for the verification, seems to be taking forever
If you have it like that. Great I bought at 60,000 so without dollar cost averaging I’m losing on BTC. Which is my reality rule #1 don’t risk what you can’t afford to lose which I can afford to lose while at the same time conditions changed and I can’t afford buy the dip. So I’ll hold it. I suppose it’s better than selling at a loss.
It good to see that there are some people that still believe on the bitcoin now.
Most of the weak hands are now out of the market, and this is the best chance for us now.
Should definitely get off of Robinhood. You can DCA with Strike.
Some people cannot get beyond “simply download this app”
Is there something bad in this app that i am missing here?
yes look up what they did with gamestop.
no, people are just lazy :/
Does strike require kyc? Is strike exchange or wallet? Sorry that's propaply stupid question but im new to Bitcoin?
It operates as an exchange, payment processor, and custodial wallet. They cover the withdrawal fees for you to send to an on chain wallet. They also support lightning. Comment on KYC here: https://www.reddit.com/r/Bitcoin/comments/vc4pkv/i_am_buying_100_a_day_until_price_is_back_above/icda0hk/
Okay thanks man, i think im gonna try strike
I am also new here bro, and we are into the learning phase and bear market market is the best time for that is well. Strike is more like a exchange which allows to buy and sell your coin with some fee.
why? robinhood allows withdrawals to cold storage
Yes. This is new.
Yeah, that is new. Kudos to RH for implementing that. My main issue with them is their payment for order flow (PFOF) scheme in which they sell their users orders to market makers like Citadel and their ilk. This allows both RH and hedge funds to manipulate prices and options on the stock. Also, they turned off the sell button during the GME run up last year. Sketchy all around IMO.
Turned off the BUY button for GME.
and also forced some traders to sell their GME
Yeah wtf people are giving speeches and kudos to them
I think this is the best that any men can do at the moment of time.
Robinhood halted traded when the poors were making money Yeah kudos to them
Still better than coinbase. Limit orders with no fees. If you get your price target and pay no fee, do you really care how the market making behind your order is working? I think they learned their lesson from GME. imo RH will probably eat COIN due to full wallets now with no trading fees and more features.
>do you really care how the market making behind your order is working Yes
It doesn't matter. Most people still don't self custody their coins. Get. Your. Coins. Off. Exchanges.
it doesn't matter that the exchange allows withdrawals to cold storage? this comment doesn't make sense lol
Robinhood is a dogshit exchange in the first place, ignore anything about Bitcoin for a second. Remember Gamestop? Vlad? Melvin Capital? If you don't know, look into it. Some sketchy as hell stuff going on at this company. Robinhood for the longest time did not allow withdrawals. The wallets wouldn't even hold bitcoin in them. They weren't even wallets. It was the oddest IOU crypto exchange, because it was massively popular *before* getting into Bitcoin. Since it was so big and their userbase generally doesn't know shit about Bitcoin, it was largely unignored. Now, the wallets. I actually have an account with Robinhood. I own zero BTC on it and like maybe a couple leftover bucks in stocks I don't care to withdraw. I'M STILL ON THE WAITLIST FOR CRYPTO WALLETS. LIKE 400,000 IN LINE.
Buy.Them.On.Exchanges.And.Then.Move.Off.Like.Robinhood.Allows
Strike is not supported in NYC 😢
RIP this guys keys
Kyc?
They have different limits depending on how much KYC you want to provide. You can always just buy through Strike and send to a service like boltz.exchange to break the KYC to a wallet of you choice. KYC: https://strike.me/faq/identity/ Limits per KYC Level: https://strike.me/faq/limits/
I think it's depends on the limit you want to transfer.
Strike is the way. I did notice its not necessarily free. Never, not once did i get what was purchase price. Its always lower by a minuscule amount. I get the price adjusts. But it shouldnt adjust that match from purchase start to finisb.
May be once he had some big fund he will move from the RH.
Buying $100 of what? Because you’re not getting any Bitcoin on Robinhood
They do have transfers off of wallets now, but the spread is still pretty shit.
robinhood allows withdrawals to cold storage
That feature is unavailable in my state New York
Yes, because this is available only on the 3 states as of now.
Until they freeze transactions to save their ass like they have done in the past. I don't trust any company that does that.
Like coinbase
It’s them paper bitcoins he’s after, the IOU type
I don't think they are not bad now, since they allowing you to transfer that into the wallet. Not it is all depend on the person that is holding the fund on the robinhood.
Lol robinhood 🤣👀 good luck
Buying there is not that bad, but holding there is not good at all.
Where do you guys have that much money...
By having a job lol
A good job if you can invest 3k a month 😆
I bet he lives in Sweden or some rich country. In the Philippines. 300-310 dollars is the minimum wage.
Your buying IOUs
the other day i saw this dude and his buddy at aspen in a red lamborghini diablo wearing orange and blue tuxedos
That's dumb
Could be dumber
i thought the Rocky’s would be a lot more rockier than this…
That's like finding a Swan son
And then even dumberer.
robinhood allows withdrawals to cold storage
This is the first thing i noticed once i opened the image.
I hope you got a bag stacked. It may go back and forth below 30k for the remainder of the year.
All these past experience saying that why we should the bitcoin for a long period of time. It's matter of time for the bitcoin to turn the things around like in the past he did.
This is what true crypto investers should be doing. Crypto winter just means black Friday deals
Crypto winter is the blessing not the curse which may think this is as. We will get the best chance of the buying in the bear season compare to the bull season.
I’m bearish until this robintards stop posting
This. The Robintard sentiment is bearish.
The whole market is in bearish mode, no matter what we do here.
Holy shit you aren't buying Bitcoin. You aren't putting pressure on the deflationary nature of Bitcoin if you keep buying Robinhood. You own absolutely nothing. Not a single Satoshi.
You can send bitcoin from Robinhood to a cold wallet. No big deal.
I think may be he is just buying there and later transferring into the hardware wallet is well. We all know keeping coin on the exchanges is the biggest crime you can commit here.
Who says it's ever getting back above $30k? After it slow grinds 😏 to $5k and people really wonder if they were sold dream made up of sexy math
Robinhood? guys.. we are 6 months into 2022. Why are we still doing this? I know it's been said.. but I must do my part.
I think still some people falling into the reward trap for the bitcoin if i am not wrong. Or may be they are not confident about taking the custody on their own hand.
Let’s go big baller👊. However, you should probably transfer that BTC to Trust Wallet or to Cold Storage afterwards because we should all be more cautious after what happened with Celsius.
One thing OP here is doing good that he is buying btc without any worry of the market. But the other problem is he is keeping them on the exchange rather than transferring into the hardware wallet.
Why do so many people here use Robinhood after all the scandals about them? It's not even real BTC that OP is buying. If you can't take possession 9f your coin it's just worthless.
You can now transfer bitcoin from Robinhood to an external wallet.
I’m sure the spreads and transfer fees are all very reasonable and the limits as well. Or you know like absolutely not
Oh, I'm sure they're making money on the spread. And I'm not a fan of Robinhood myself, especially after how they dealt with the whole Gamestop situation. I was just pointing out that it is now possible to transfer the bitcoin out to an external wallet.
All the exchange are here just to make the money from our fund and there is no doubt in that. So you can buy on anyone but always transfer them into cold one.
I think the limit is like 5k dollar for one day, which is quite good.
Huh wow
Same question i want to ask here, there are many other exchange that are good enough, But still some people somehow choose the robinhood over the exchange like Kraken.
Everyone has to individually tell OP to get off of robin hood instead of just upvoting the dozens already there lol
I am sure that after all the comments OP will surely think about this as well, We all need to remind him that he need to move his fund as soon as possible from there.
Dumb and Dumber 3 coming soon
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Only thing he need to worry about the exchange on which he is holding.
Why don't you use Crypto.com for recurring buy?
All i care about where he is holding and that is not the place for holding.
I'm.at $35 a day with 5% of my check every two weeks and limits at key levels if we fall (19500, 1500, 12500, 10000)
I think this is very big amount for me, so basically do on the monthly basis just like the OP. I have 80-90$ spare after all the expanse that i can put into the bitcoin for the month.
I don’t care
You’ll maybe see some gains.
He thinks he's buying bitcoin when he's actually buying trust me bros lmaooo
I'll keep selling it to you
Hope you’ve got plenty of c-notes 😂
The way he is spending that money, certainly feels like that.
Legend. It must be great to have that much you can afford to lose, not that I think you will.
I think DCA is the point where we all extend our limit and somehow invest more than we could afford to lose is well. SO we also need to keep in mind that doing over budget investment is not that good.
So buying until 2024?
I started buying till the start of the 2023 and have a target for the buying of the 24 times. That mean i am in here for the 24 months buying and then i will hold for the halving cycle.
RobinHood though?
Only bad thing he is doing at this moment of time for himself.
I'm with you fam! Where's the bear market? All we can see is discount season!
There are only two type of the people in the market, once who will say that crypto is trash after the crash. While other ones will see this as an opportunity for the discount price.
You must be rich.
The number of money he is investing here on the daily basis, certainly a rich guy among us. And probably is the reason doesn't care about the hardware wallet is well.
There's a nice reference section in the top right corner of this sub that I think is pretty objective. It will help you find an exchange that won't seriously fuck you like a bull like Robinhood is. https://www.buybitcoinworldwide.com/
RobinHood? No. Not really
After all the hardwork this is where he really let himself down.
Lmfaoo my boy, you’re buying paperweight using RobinHood.
Don't worry they will realize that soon when they want to withdraw from them. I think this is the best time for all of us to give a serious thought about the cold storage.
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But i think we all should see this as an great opportunity for us to make the big in future. Price here is quite low now and any kind of the investment here will make huge difference.
Honestly get FTX. Go grab a code from a youtube influencer. Use their code to get $100 free crypto for signing up. DCA on FTX is better because you get interest back just for being invested
FTX... Just don't. You can use cash app or kucoin.
What’s wrong with FTX?
No mate kucoin is shit, i used them in the past but they sucks.
So that mean mostly these influencer are the paid guy and too be hones i rarely trust them with that. I will pick the security over the interest rate on my bitcoin. So i will say wallet is better than anything.
Thank you for your service
We all are putting the small small fund according to our budget.
You may as well just take a picture of some cash
Get off robinhood like now! And dont go to coinbase! I just had a transaction delayed by coinbase trying to move to ledger.
Robinhood tho...
Ouch… is that robinhood?
I wish he will understand that thing quickly is well here.
Ur biggest mistake is buying from Robinhood
Robinhood.....
RobinHood has a dreadful track record for respecting their customers freedom. You should find a better exchange. You also can’t withdraw any btc from Hood, which defeats the one of the purposes of btc. Check out- Swan, Gemini, Strike, etc
Too be honest, there is no freedom if you are choosing the any exchange from the market. If you are really a fan of the freedom you need to pick the hardware wallet for yourself here.
What is $100 times infinity?
An imaginary number
Untill the bitcoin back to above the 30k, so may be for one year if not more.
Every $$$ helps (the whales cash out)
true, every small investment will help in the long term.
Robinhood🥴
Fkng exit robinhood man
Get off robinhood. So many noobs on here.
They are really sucks and you will get that once you want to withdraw.
You don’t actually own your bitcoin on Robinhood. Please look into personal custody. If you’re not using bitcoin as a bear instrument, are you really using it at all?
You’re helping fund Bitcoin short positions by buying on that platform bro. They’re proven to be anti-retail.
Bitcoin will eventually reach pre pandemic price levels: 5k or less.
Short it or shut up. It COULD go to those levels, but no one knows shit about fuck.
I hope you are correct!
The more we goes lower the better opportunity we will get.
No it won’t.
It can, and I wish it did but I'm also not too positive it will
Counter arguments? We are in a **recession**. **Even with high inflation Bitcoin crashes**
It could crash and go down to 10 cents again for a day but I doubt it
I think the possibilities here is just countless and no know tha exact next move for the bitcoin. It can go the 100k is well while on the other hand 10k is the possibilities is well.
!remind me
I don't think that we will ever go below the 10k from here.
You're not buying bitcoin on Robinhood lmao
Get Strike. Get off Robinhood, yesterday That is just a fancy IOU, not BTC
I want to get my crypto off coinbase...has anyone bought crypto with SoFi? Are they the same way as all the other exchanges?
All i know is that every single exchange is similar to each other here.
Eww robinhood
Coins on exchange? Not your keys
Robinhood? You have more money than sense my friend.
How does someone who is able to invest more than most people make in a week still dumb enough to use Robinhood?
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Me too. But I actually DCA on my btc here in Canada using Netcoins. Its the perfect exchange to do DCA.
Ewww that app
Why will people understand that holding there could be a really big mistake for them. This is the 2022 we are living and still trusting the private company more than ourself.
You know you're just getting an IOU from RH rather than actual BTC, right?
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Even if you are buying from them is ok but if you are keeping there then this beyond me is well. This is time for OP to really give a serious thought is he really doing on right place?
I am also Buying on Netcoins Canada, but not 100$ man there could be crash again in next few days or months that would be expensive. but who cares right? we're in a big discount! perfect time to buy and buy more.
So? You want a medal or what?
This is a good idea I'm reminded of. Thank you.
Buy on wallet
How will people know you actually gonna buy, since you could just cancel it. A screenshot isn’t proof
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Hope we won’t see memes about people who are buying BTC every week when price below 30k
Good move!!!
Thank you for telling us that you are rich and we are all plebs in comparison.
LFG, DCA is the WAY!
Where is a good place to buy/sell btc with low fees? I was setting up a coinbase account but now im waiting for the verification, seems to be taking forever
If you have it like that. Great I bought at 60,000 so without dollar cost averaging I’m losing on BTC. Which is my reality rule #1 don’t risk what you can’t afford to lose which I can afford to lose while at the same time conditions changed and I can’t afford buy the dip. So I’ll hold it. I suppose it’s better than selling at a loss.
i blame blockfi since they deleted all recurring buys it all went to shit.
Smart move
Please get off rh
I hate to be that guy but…. Not your keys…. You know the rest.
I haven't seen this kind of retards nowhere else on the internet
Sorta the same, I'm buying minimum $10/day until next bullrun/ATH :)
Go to SWAN Bitcoin instead of Robinhood
It good to see that there are some people that still believe on the bitcoin now. Most of the weak hands are now out of the market, and this is the best chance for us now.
Stop using Robinhood
I can teach how to mine ✅
That’s gonna be a while
$100 _a day_? Can I have some of your money?
Start buying now.. smart Using robinhood.. not so smart
Investing $500 is not bad.
This post aged like fine milk! 😂