Robinhood launched a recurrent crypto investment service

by in Cryptocurrency News

Robinhood

Online broker Robinhood has launched a service that automates investments in digital assets at regular intervals.

Possible options include a day, a week, once every two weeks, and a month. The service cost is $ 1. Until the end of September, it will become available to all users, except for residents of New York State. No transaction fees are charged.

“Saving is a habit, repeated investment is consistent with a strategy to build assets over time,” the blog says.

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Investing regularly allows you to focus on long-term growth, reduce risks and reduce the stress associated with timing. The service implements the Dollar-Cost Averaging strategy. Thus, price fluctuations are smoothed out and the risk of buying assets at highs is reduced.

The founder of the company, Vlad Tenev, noted the crypto activity of clients along with the IPO access service among the factors that influenced the financial performance. In July, he named digital assets as the foundation for the company's future development.