Does Cryptocurrency Count As Day Trading On Robinhood. Anyone day trading on robinhood with less than $25,000 in their account that has been marked with the scarlet pdt letters will have their account restricted even further. Robinhood has plenty of docs explaining the tax concepts with trading, and this is not particularly mysterious.
Robinhood's move to restrict crypto trading comes after dogecoin, a digital coin based on the popular doge meme, spiked as much as 800% friday. It helped that robinhood launched cryptocurrency trading in february: Cryptocurrencies, stocks, etfs, and options are available side by side, in one app.
In february 2018, robinhood launched its crypto division.
In practice, you are paying the price in other ways. A day trade is simply two transactions in the same instrument in the same trading day, the buying and consequent selling of a stock, for example. So, if you hold any position overnight, it is not a day trade. Can i day trade on robinhood?