Research shows that a lot of customers not only have interests in trading crypto, but also investing in it. As a result, brokers and exchanges are defining their crypto products to match-up with the trends of customers’ needs.
Robinhood, a American financial services company, announced it would be adding functionality that would allow users to secure crypto recurring investments. In other words, its users can invest in their favorite coins on a regular basis.
It can be daily, weekly, or monthly; depending on the option that suits individual users. These recurring investments can be on one coin or even multiple ones. According to Robinhood, users can start this crypto recurring investment for as low as $1 and there’s no fee attached.
“At Robinhood, if you place an order and spend $100 to buy bitcoin, you’ll get $100 worth of bitcoin. Period,” the announcement reads.
The company wants its users to implement a strategy called Dollar Cost Averaging. This strategy is about investing gradually rather than at once. This is to ensure that the market favors such a buyer against swings and volatility.
The functionality will be rolling out gradually to all Robinhood customers this month – September. However, Robinhood disclaimed the availability of this product to New-Yorkers.