Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Robinhood pauses instant buying of crypto currencies amid volatility

Published 01/29/2021, 09:06 AM
Updated 01/29/2021, 09:10 AM

(Reuters) - Online broker Robinhood, which was criticized by customers after pausing trading in some hot stocks on Thursday, said it had temporarily disabled a feature on its app that allows users to buy crypto securities instantly.

"Due to extraordinary market conditions, we've temporarily turned off Instant buying power for crypto. Customers can still use settled funds to buy crypto. We'll keep monitoring market conditions and communicating with our customers," a Robinhood spokeswoman said on Friday.

Through the "Instant Buying" feature on Robinhood, customers have instant access to funds from bank deposits and proceeds from stock transactions. Instant Buying is a paid feature that allows users to instantly settle transactions.

 

Latest comments

Talk about liquidity issues hahaha
you're done, you shame the name of robinhood
It’s the end of Robinhood app. The subscribes will start moving somewhere else.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.