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DOGE Cost Averaging: Robinhood rolls out fee-free recurring crypto buy feature


09 Sep 2021

#Dogecoin

Retail crypto traders on Robinhood can now set up commission-free recurring investments in multiple crypto assets on a daily, weekly, bi-weekly or monthly basis. Retail trading platform Robinhood has rolled out a new recurring crypto investment feature for users who want to dollar cost average (DCA) into a coin. Given DOGE accounts for 62% of Robinhood’s crypto services revenue, the move could result in a steady stream of small buyers for the memecoin.

The firm announced the launch of the new feature on Sept. 8, and users are able to set up up recurring investments in multiple crypto assets on a daily, weekly, bi-weekly or monthly basis. The minimum purchase amount is $1, with the firm is promoting the feature as a simple way to DCA into crypto markets without paying fees.

“If you place an order and spend $100 to buy Bitcoin, you’ll get $100 worth of Bitcoin. Period,” Robinhood stated.

According to the platform’s website, recurring crypto orders will usually be processed between 2:30 pm and 4:00 pm ET (6:30 pm to 8:00 pm UTC). Robinhood also states that users may receive less crypto than their set purchase amount during times of market volatility, however the difference will be refunded in fiat after the trade is completed.

Thhe service is currently unavailable to New York-based customers. Crypto-based retail trading has surged in popularity on the platform in 2021. According to Robinhood’s Q2 report, crypto trading services generated $233 million in the quarter and represented 41% of its total $565 million revenue. In comparison, the firm generated a total of $5 million in revenue from crypto trading for the entirety of 2020.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 90.4% 12 $27 138.42 0.67% 1.42% $526 244 858 811 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 94.4% 5 $1 905.16 1.78% 3.91% $229 081 653 780 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94% 1 $1.000098 0.01% -0.03% $83 257 842 516 USDT 7 days price change
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5 USD Coin (USDC) USDC USD Coin predictions 91.2% 1 $0.999845 0% -0.03% $28 941 949 857 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 76% 40 $0.523096 2.89% 12.38% $27 192 303 394 XRP 7 days price change
7 Cardano (ADA) ADA Cardano predictions 91.6% 7 $0.377941 3.19% 3.22% $13 185 243 857 ADA 7 days price change
8 Lido stETH (STETH) STETH Lido stETH predictions 90.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
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11 Polygon (MATIC) MATIC Polygon predictions 80.8% 31 $0.894287 -0.09% -3.20% $8 298 503 979 MATIC 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 80.4% 34 $0.076440 1.73% 0.15% $7 772 125 964 WTRX 7 days price change
13 TRON (TRX) TRX TRON predictions 83.6% 33 $0.076681 2.03% 0.46% $6 916 960 123 TRX 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 76.4% 38 $94.53 -0.68% 7.94% $6 905 969 709 LTC 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 92.4% 8 $5.24 -0.11% -0.32% $6 266 962 796 DOT 7 days price change

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