Cryptocurrency trading on Robinhood is available around the clock, providing traders with the flexibility to execute trades whenever they see an opportunity.
Was this helpful?
299
33
JejuSunshineSoulMateWarmthMon 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.
Was this helpful?
213
64
DanieleMon 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.
Was this helpful?
292
70
HanbokGlamourMon 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.
Was this helpful?
82
29
ElenaSun 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.