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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 56.8% 92 $20 900.56 -2.20% 2.22% $398 755 492 673 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 56.8% 88 $1 202.05 -2.96% 7.07% $145 838 169 594 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.6% 1 $0.999239 -0.03% 0.02% $66 816 360 124 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 94% 1 $1.000002 -0.04% -0.08% $55 802 722 548 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 61.2% 88 $234.15 -2.25% 8.36% $38 231 653 209 BNB 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 93.2% 1 $1.001013 0.02% -0.03% $17 406 990 839 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 60.4% 80 $0.354798 -3.53% 9.82% $17 152 035 554 XRP 7 days price change
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11 Polkadot (DOT) DOT Polkadot predictions 59.2% 81 $7.80 -4.85% -0.49% $7 698 820 570 DOT 7 days price change
12 Dai (DAI) DAI Dai predictions 96% 1 $0.999958 -0.06% -0.09% $6 797 461 805 DAI 7 days price change
13 TRON (TRX) TRX TRON predictions 60% 88 $0.068078 3.77% 11.43% $6 296 975 066 TRX 7 days price change
14 SHIBA INU (SHIB) SHIB SHIBA INU predictions 62% 78 $0.000011 -4.63% 36.14% $6 074 989 804 SHIB 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 54.8% 92 $20 886.28 -2.15% 2.70% $5 526 065 366 WBTC 7 days price change

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