Cryptocurrency Q&A
Is Robinhood ERC20?
Is Robinhood ERC20?
SamsungSpark
Wed Jan 01 2025
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5 answers
863
I'm trying to figure out if Robinhood supports ERC20 tokens. I'm particularly interested in knowing if I can use Robinhood to buy, sell, or trade ERC20 tokens, which are based on the Ethereum blockchain.
5 answers
GangnamGlitzGlamourGloryDays
Fri Jan 03 2025
This calculation is based on the current market rate and is done seamlessly in the background. Users don't need to worry about converting their tokens or managing their Ether balance separately.
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Martina
Fri Jan 03 2025
ERC-20 tokens, including Chainlink (LINK), Compound (COMP), Polygon (POL), Shiba Inu (SHIB), Uniswap (UNI), and USD Coin (USDC), have a unique feature when it comes to network fees.
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isabella_bailey_economist
Fri Jan 03 2025
Once the equivalent ETH amount is determined, Robinhood debits it directly from the user's ERC-20 token balance. This means that users can focus on their trading activities without getting bogged down in the technicalities of network fees.
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amelia_harrison_architect
Fri Jan 03 2025
Unlike some other tokens, you don't need to hold Ether in your account balance to cover the transaction fees for these ERC-20 tokens.
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HanbokGlamour
Fri Jan 03 2025
Robinhood, a popular trading platform, has implemented a convenient system for handling these fees. Instead of requiring users to manually hold Ether, Robinhood automatically calculates the equivalent amount of ETH needed for the network fee.
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