Robinhood opens up a slow and steady approach to crypto investing – The Verge

Robinhood opens up a slow and steady approach to crypto investing – The Verge

Robinhood is rolling out a new feature that lets you automatically invest in cryptocurrencies on a daily, weekly, or monthly schedule. The investment app says this service will let you automatically invest in things like Bitcoin, Ethereum, Dogecoin, and other supported cryptocurrencies without a commission fee.

Before we go any further, though, I should warn you that nothing in this article is qualified or expert financial advice. It’s probably wise to talk with an expert who can help you come up with an investment strategy that’s right for you.

Robinhood’s approach here is automatic investing, not trading. It won’t sell the crypto for you when an algorithm decides it’d make financial sense to do so. Instead, it’s just steadily building your crypto portfolio.

Robinhood pitches this as a way to do “dollar-cost averaging,” which is more or less financial speak for not worrying about what the market is doing and instead investing the same amount regularly, letting the gains and losses come out in the wash. In other words, you’re adhering to the financial maxim “time in the market beats timing the
Source…