Cryptocurrency Q&A Is it illegal to day trade crypto?

Is it illegal to day trade crypto?

KimchiQueenCharmingKiss KimchiQueenCharmingKiss Sat Sep 07 2024 | 6 answers 1349
I don't understand this question. Could you please assist me in answering it? Is it illegal to day trade crypto?

6 answers

Maria Maria Mon Sep 09 2024
Cryptocurrency trading on Robinhood is available around the clock, providing traders with the flexibility to execute trades whenever they see an opportunity.

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JejuSunshineSoulMateWarmth JejuSunshineSoulMateWarmth Mon Sep 09 2024
Market orders on Robinhood for cryptocurrency trading come with built-in price collars, which are designed to limit the potential impact of market volatility on trade execution.

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Daniele Daniele Mon Sep 09 2024
For purchase orders, the collar restricts the maximum price increase to 1% above the last known trade cost. This helps to prevent traders from inadvertently paying too much for their cryptocurrency.

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HanbokGlamour HanbokGlamour Mon Sep 09 2024
On the other hand, for sale orders, the collar restricts the maximum price decrease to 5% below the last known trade cost. This protects traders from selling their cryptocurrency at a significantly lower price than they intended.

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Elena Elena Sun Sep 08 2024
If the market price moves beyond these collars, the order will not execute. This feature ensures that traders have a level of control over their trades, even in volatile market conditions.

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