(IJCH) Holy Shit! I just bought Cryptos AND Stocks with Zero Fees, Zero minimum account balance, and Free instant bank funding at Robinhood!
(IJCH) Holy Shit! I just bought Cryptos AND Stocks with Zero Fees, Zero minimum account balance, and Free instant bank funding at Robinhood!
IJCH - Inside JaiChai's Head (Meaning: My Warped, Personal Opinions and Musings)
From the Author:
Salutations.
I am JaiChai.
And if I haven't had the pleasure of meeting you before, I'm delighted to make your acquaintance now.
I invite you to interact with everyone, learn, and have as much fun as possible!
For my returning online friends, "It's always great to see you again!"
Well, hello there. It's me, again.
I thought you'd like to hear something pretty cool...
I just bought Cryptos AND Stocks with Zero Fees, Zero minimum account balance, and Free instant bank funding!
And it only took 78 seconds to instantly fund my account and complete a trade!
(That's right. Anal retentive me used a stopwatch to time myself...)
Imagine that?
Where did I execute the FASTEST FUNDING/TRADE IN MY WHOLE LIFE?
At Robinhood.
What is Robinhood?
Robinhood is a free-trading platform and app that’s ideal for investors who want to buy a wide selection of stocks, options, ETFs, and cryptocurrency (currently BTC and ETH, with more coming soon) without paying commissions or fees.
The company's current valuation is $5.6 billion, making the five-year-old startup a formidable contender in the fintech stock-trading market.
Neat Fact:
Robinhood was rejected 75 times over five years before investors took interest and began funding! Now look at them.
In its latest round of Series "D" funding, Robinhood received $363 million!
The App
Although I did my trading through my desktop browser, Robinhood is renowned for their flagship product - the highly successful Robinhood mobile app.
In a nutshell:
Neat Fact #2:
The number of user accounts on the Robinhood trading app has blown past E*Trade, hitting 4 million. That’s double where it was a year ago.
CNBC Videos featuring Robinhood
Robinhood Co-CEO on becoming a full-service financial services...
11:50 AM ET Thu, 10 May 2018
Robinhood Co-CEO Baiju Bhatt speaks about the investing app company's latest over $5 billion valuations and how they're growing the business beyond just stock trading.
Video link:
Robinhood: Brokerage Game Changer?
5:06 PM ET Mon, 9 May 2016
Vlad Tenev, co-founder of Robinhood, makes the case for free trading. Michael Wong who covers Charles Schwab and TD Ameritrade at Morningstar doesn't think Robinhood is a disruptor.
Video link:
https://www.cnbc.com/video/2016/05/09/robinhood-brokerage-game-changer.html
How Robinhood makes money
3:37 PM ET Tue, 18 Aug 2015
Vlad Tenev, Robinhood co-founder, discusses his free stock trading service that requires no account or investment minimum and how the service makes money.
Video link:
https://www.cnbc.com/video/2015/08/18/how-robinhood-makes-money-.html
Parting Shots
Robinhood is so cool!
Dear Coinbase,
Important Addendum (Major Props to @oculussensori)
I just got a comment/inquiry from @oculussensori that made me realize that I hadn't pointed out a VERY IMPORTANT aspect of robinhood.com; something that might have a significant influence on whether to use robinhood.com or not!
Thank you @oculussensori!
Here's @oculussensori's comment (below):
Mmm sounds interesting. So one can buy crypto and stocks through the same platform? I'll look for it, sounds interesting. One thing though, i couldn't find any link to take me directly to their browsing page, would have been nice to be one. Of course i can google it, but hey ho :) . Anyway, much appreciation @jaichai :^.
My reply:
Although you can go the browser way, the simplest method is to use their mobile apps.
Here's the google app link.
https://play.google.com/store/apps/details?id=com.robinhood.android&hl=en
If you're on an iPhone or Mac, just download from the iStore.
I want to make it clear that robinhood.com is an online brokerage for investing, not a regular crypto wallet. That means that you shouldn't buy Bitcoin there if you want to send it anywhere else (other than fiat - hopefully profits -back to your bank).
As far as cryptos go, it's a super fast and convenient way to invest. But it's NOT A WALLET. Simply a bi-directional gateway from your bank to and from the brokerage.
Although I plan on buying more BTC and ETH there, I am using it mainly for my stock portfolio because I save a bundle on misc. fees as compared to my Ameritrade and E*Trade accounts. I also plan on using robinhood.com as my daytrading platform in the future (it is wicked fast!).
Confused yet?
Please do not hesitate to ask for further clarification.
And thanks for staying connected.
Namaste, JaiChai
By JaiChai
Mighty Kind of You for stopping by.
Truly hope to see you again!
About the Author
Believing that school was too boring, he dropped out of High School early; only to earn an AA, BS and MBA in less than 4 years much later in life – while working full-time as a Navy/Marine Corps Medic.
In spite of a fear of heights and deep water, he performed high altitude, free-fall parachute jumps and hazardous diving ops in deep, open ocean water.
After 24 years of active duty, he retired in Asia.
Since then, he's been a full-time, single papa and actively pursuing his varied passions (Writing, Disruptive Technology, Computer Science and Cryptocurrency - plus more hobbies too boring or bizarre for most folk).
He lives on an island paradise with his teenage daughter, longtime girlfriend and three dogs.
I think I might get on this Robinhood.
You really made it convincing 😀
They've recently added support for ETH, BCH, and LTC.
Caveat, remember that it's only a 2-way from your ronbinhood acct. to your bank.
Thanks for visiting.
Namaste, JaiChai
Great share and love the Coinbase burn! Seriously, fuck Coinbase. I made a Robinhood account already out of interest and it is as streamlined and easy as you say. However, it does require money to invest first so I'm working on that part...
Mmm sounds interesting. So one can buy crypto and stocks through the same platform? I'll look for it, sounds interesting. One thing though, i couldn't find any link to take me directly to their browsing page, would have been nice to be one. Of course i can google it, but hey ho :) . Anyway, much appreciation @jaichai :^.
Although you can go the browser way, the simplest method is to use their app.
Here's the google app link.
https://play.google.com/store/apps/details?id=com.robinhood.android&hl=en
If you're on an iPhone or Mac, just download from the iStore.
I want to make it clear that robinhood.com is an online brokerage for investing, not a regular crypto wallet. That means that you shouldn't buy Bitcoin there if you want to send it anywhere else (other than fiat - hopefully profits -back to your bank).
As far as cryptos go, it's a super fast and convenient way to invest. But it's NOT A WALLET. Simply a bi-directional gateway from your bank to and from the brokerage.
Although I plan on buying more BTC and ETH there, I am using it mainly for my stock portfolio because I save a bundle on misc. fees as compared to my Ameritrade and E*Trade accounts. I also plan on using robinhood.com as my daytrading platform in the future (it is wicked fast!).
Confused yet?
Please do not hesitate to ask for further clarification.
And thanks for staying connected.
Namaste, JaiChai
Mmm i feel confused a bit yeah. So i can buy but not store it? Where is it stored then right away after is being bought by me then?
It is kept in your Robinhood account until you decide to sell it.
Namaste, JaiChai
Your question made me think of something very important that was missing in the article.
So, I decided to put your comment into the post.
Hope you don't mind.
Namaste, Jaichai
Heh no worries :D .
Another interesting app to explore, thanks @jaichai!
Very informative post...
This infos just make us want to try to have crypto trading in Robinhood also...
Thanks for sharing, dear friend @jaichai...☕❤
Thanks for the post, jaichai.
I hope you don't mind if I test out some sentiment analysis on your post. This is an experimental bot running on a small % of posts, and if reaction is positive I'll increase that ratio and add features.
Your post had an average negative sentiment of 0.047 and an average positive sentiment of 0.121
The most positive sentence in your post had a positivity score of 0.519:
"Better yet, come join the Busy.org community!"
The most negative sentence in your post had a negativity score of 0.661:
"#
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Thank you for reminding me! I was on their list pre launch, I got the reminder email that they had launched, but I forgot! I'm off to get the app now!