Crypto is one of the most volatile assets. It doesn’t make it bad, but a lot of people face huge losses because they aren’t able to get out at the right time. This is why Robinhood’s new feature will be a boon for all those crypto users who have faced losses due to the wild swings of cryptocurrencies. The company’s CEO said that they had bought this feature after a lot of demand from their customers. And the company is calling it “price volatility protection”, suggests reports from Bloomberg.
Robinhood’s new price volatility protection feature
The company has been developing this feature for quite a while, and it seems they have thought this through. So what does it bring? Well, when turned on, depending on the price movement of the cryptocurrency, it could skip repeating orders. It could even buy less than what entered for. But don’t worry, all this will be informed beforehand, and it will ultimately be the user’s decision. Also, no matter what, the feature won’t make users buy more than they want to.
They have done a lot of work to make this feature safe. And this is also the reason that it’s coming so late even after repeated demand from its user base. I am also pretty sure that the feature won’t be used by people who are already in the market for long. But it’s a good to have nonetheless.
This is good
Those who have been in the crypto markets for quite a while know about the shart market movements and how important it is to have stop loss while making trades. But those who are new might find it difficult to accept that BTC is at $40k one day at $35k the next morning. This kind of swing is what allows crypto to give such high returns. At the same time, many people face losses because they don’t know what they are doing. Robinhood’s new feature will help this kind of user get through volatility without a scratch.
What are your thoughts on Robinhood’s new price volatility protection feature? And do you think that this will be beneficial for people new to crypto? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
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