Is Robinhood a good place to buy bitcoin?

Robinhood also offers far fewer educational resources and other features. It is mainly a place where you can buy, hold, and sell Bitcoin and a few other types of cryptocurrency. If you buy Bitcoin on Robinhood and it goes up in value, you can sell it and make money. But there aren't many other reasons to use Robinhood for your cryptocurrency needs.

How to short sell on Robinhood?

How to Short Sell on Robinhood. 1 Step 1: Open a Margin Account. Short selling involves selling stock you don’t own, which means you’ll need to borrow it from your broker. You can’t do ... 2 Step 2: Identify a Short Sale Candidate. 3 Step 3: Define Your Exit Strategy. 4 Step 4: Open a Short Position. 5 Step 5: Cover the Position. More items

Does Robinhood have a margin account?

However, Robinhood’s margin account is only for certain kinds of options trading and for margin trading, where you borrow cash to buy a long position in stock. It doesn’t offer short selling, so you need to open a margin account with a brokerage that does offer it.

What are the drawbacks of Robinhood's cryptocurrency trading platform?

With many other cryptocurrency exchanges, not so much. By far, the biggest drawback to Robinhood's cryptocurrency trading platform is that all you can do is buy, hold, and sell your cryptocurrencies. In other words, you can't send your Bitcoin to another cryptocurrency wallet, spend it on real-world purchases, or receive Bitcoin from other people.