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TIL: If you buy crypto using Robinhood, you don't really own it.

submitted by Nosferatjew to whatever 3 yearsMay 6, 2021 05:40:26 ago (+20/-0)     (files.catbox.moe)

https://files.catbox.moe/a6k29e.jpg

I've never used Robinhood, and I never will. First because of their role in the Gamestop/hedgefund debacle, but now also because of how they're handling their crypto trading users.

If you don't hold the keys, then you don't own the coins.


19 comments block

Think this just means you cant trade the coins in or out. You can sell the coins for money and withdraw your money anytime. Takes like 5 days.