Buyers Beware: If you’re purchasing Crypto through RobinHood, you’re doing it wrong
I imagine the folks who have been members of this sub have already read plenty on the exchanges available to them, so this is directed primarily for newcomers. But this is still important information for all of us.
Most of us were either in the midst of or at least observed what happened January if this year when RobinHood (RH) blocked sales of several stocks. That action was criminal. What is even worse is the days prior, RH had unofficially blocked sales of stocks. I was one of those GME/AMC holders. I still am. I had purchased 500 shares of AMC at $4.50 per share and watched my money increase sixfold over night. I set a stop loss at $19 per share and when I had logged back on, my shares were down to $15 each. I lost thousands that day.
Last year I was also using RH to dabble in to Crypto. I experienced on several occasions their servers would crash when the Crypto I was interested in either spiked or dipped. I could never purchase at the bottom, nor could I sell at the top.
I now invest in Crypto through Coinbase and through Voyager. My transactions take place immediately in both of those exchanges and I would highly recommend them to anyone. (If there is anyone interested in Voyager, pm me and I'll send you my link and we both get $25 worth of BTC. I'm not here to advertise so I will not post it here). Other folks have mentioned Binance as their primary exchange as well.
If you are purchasing Cryptos through RH, I implore you to reconsider. I want to see all of us succeed. Crypto Currency is OUR TIME to be successful. We are the early adopters. I don't want to see any of you screwed out of what you deserve for taking the same chance we're all taking.
Good luck this week, Fam. Stay healthy and stay safe!