Cryptocurrency Q&A
What are the risks of Robinhood crypto?
What are the risks of Robinhood crypto?
SakuraDance
Sat Apr 26 2025
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7
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I'm considering investing in Robinhood crypto, but I'm concerned about the potential risks. I've heard about the volatility of the cryptocurrency market, but I'm wondering if there are any specific risks associated with Robinhood's crypto platform that I should be aware of.
7 answers
Ilaria
Mon Apr 28 2025
Digital asset investments do not enjoy the protection of any government insurance schemes.
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GangnamGlamourQueen
Mon Apr 28 2025
However, neither of these insurance programs extends to digital currencies.
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EchoWhisper
Mon Apr 28 2025
This means that, unlike traditional financial assets, there is no safety net provided by governmental bodies in the event of losses.
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KpopStarletShineBrightness
Mon Apr 28 2025
Cryptocurrencies, in particular, fall outside the scope of insurance coverage provided by both the Federal Deposit Insurance Corporation (FDIC) and the Securities Investor Protection Corporation (SIPC).
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KpopHarmony
Mon Apr 28 2025
The FDIC typically insures deposits held in banks, while the SIPC protects customers of broker-dealers from financial losses due to broker fraud or other misconduct.
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