Plaidder

Main Menu

  • Home
  • Socialism
  • Bernie Sanders
  • BLM
  • Capitalism
  • Fund

Plaidder

Header Banner

Plaidder

  • Home
  • Socialism
  • Bernie Sanders
  • BLM
  • Capitalism
  • Fund
Fund
Home›Fund›New Robinhood Cash Card Earns Crypto or Stocks When You Invest Spare Currency

New Robinhood Cash Card Earns Crypto or Stocks When You Invest Spare Currency

By Kimberlee Guess
March 24, 2022
0
0

Oscar Wong/Getty Images

Robinhood unveiled a waiting list for its new debit card, the Robinhood Cash Card. The cash management card – Robinhood’s former debit card – has been discontinued in preparation for the launch of the payment card.

This new debit card will allow you to earn crypto and stock rewards on your transactions. You will have the option to round up your purchases to the nearest dollar and invest the difference in crypto or stocks. Then, at the end of each week, Robinhood will award you a bonus of 10% to 100% of your investments rounded up, up to a maximum of $10 per week.

Since Robinhood does not support the ability to move crypto to yours wallet, your crypto rewards will only be custodians – so you will need to convert them to USD to use the value. It’s unclear which stocks and cryptos will be available as reward currencies, as Robinhood didn’t immediately respond to our inquiries, but we’ll keep you updated.

The Robinhood Cash Card does not require a separate bank account. It connects directly to your Robinhood brokerage account and you can add funds by transferring money from links savings Where verification accounts. Alternatively, you can have your paychecks deposited directly into your Robinhood account. Uninvested funds can then be used to cover trades, and there is no minimum balance requirement.

Robinhood has yet to respond as to whether you can access margin funds — a loan with your account assets as collateral — with this card. As it is a debit card, there is also no credit check.

There are no annual, ATM or overdraft fees associated with the Cash Card. The Robinhood brokerage account is FDIC insured up to $250,000, which minimizes the risk associated with other crypto cards. You will also be able to send checks from this account.

Editorial content on this page is based solely on objective, independent assessments by our editors and is not influenced by advertising or partnerships. It was not supplied or commissioned by a third party. However, we may receive compensation when you click on links to products or services offered by our partners.

Related posts:

  1. Amazon orders new Jack Ryan series
  2. What’s new on Netflix in January
  3. David Duchovny drama Aquarius arrives in Sky Atlantic
  4. Game of Thrones’ Kit Harington in new BBC drama Guy Fawkes

Categories

  • Bernie Sanders
  • BLM
  • Capitalism
  • Fund
  • Socialism

Recent Posts

  • What you need to know about Christmas loans
  • BLM Tree Thinning Treatments Improve Land Health and Reduce Risk of Catastrophic Fire | New
  • Black Twitter hosts the ultimate homecoming celebration for social media platform Fallen | New
  • Lewis Hamilton reveals ‘deep convo’ with Max Verstappen over BLM
  • NOTE – An invitation to Capital Markets Day 2022
  • Privacy Policy
  • Terms and Conditions