The good thing about Bitcoin on Robinhood is that no seed phrase is displayed and it can't be sent permanently/irreversibly to someone else in the event of Robinhood locking you out of your account for months and potentially giving access to someone else. That is what RH did to me. The fees are also low.
The possible bad things are:
- You can't move your BTC to a wallet with a memorized seed phrase that you can destroy so no one can access it or even take it from you through a federal action or by drowning you somewhere.
- I don't think crypto is FDIC or SIPC insured. If RH loses their crypto, do you have any recourse?
How much of what I wrote is correct? Lmk.
Do not take my post as a push to only buy Bitcoin. I have much more AAPL and GOOGL than I do Bitcoin, and strongly recommend those two first before btc.
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