Robinhood, an online brokerage firm in the US, launches automatic cryptocurrency investment feature

[TechWeb] On September 9, according to foreign media reports, the US online brokerage Robinhood launched a new feature, namely cryptocurrency circular investment, which allows retail investors to automatically reinvest in cryptocurrency every day, week or month at a price as low as $1.

Robinhood said the service allows users to automatically invest in Bitcoin, Ethereum, Dogecoin and other supported cryptocurrencies without commissions. However, this is not trading, but automatic investment, which steadily builds users' cryptocurrency portfolios and can help investors "reduce the pressure of market timing" and achieve long-term growth.

However, although Robinhood allows cryptocurrency purchases, it does not allow investors to withdraw these assets in the form of cryptocurrencies. In addition, it is not yet available to users in New York, the financial center of the United States. The company said that this feature will be "gradually" rolled out to users this month.

In addition, it is not the only crypto exchange to offer this feature. Just a few days ago, Binance Global Exchange introduced recurring investments.