Cash App says that it isn’t allowing Robinhood users to transfer their stock portfolios from the service. This comes as Robinhood has experienced multiple outages this week and frustrated users are considering their options for moving their portfolios out of the brokerage.
It’s not just you: Robinhood.com appears to be down for many users of the young people-focused investing app. It’s likely that coronavirus fears over the weekend have pushed the servers beyond its limit as investors look to make trades to mitigate their exposure…
Robinhood has done a great job at helping a younger generation become inspired to invest in the stock market, but let’s review how it holds up in the crypto space.
Boston-based Fidelity Investments Inc. has today announced (via CNBC) that it’s opening its brokerage doors to partial stock trades, following in the footsteps of similar moves from modern online trading platforms and stock brokerage firms.
One of the main appeals to owning crypto assets is that you can store it in an offline wallet, with no intermediary needed. Unfortunately, Robinhood makes this process impossible because they sell the ability to invest in crypto but not the actual tokens. This means that in order to securely store crypto in a wallet, you will have to sell your position on Robinhood and repurchase it at a physically delivered crypto exchange.