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Wait how does this work. If you can't withdraw then in what sense do you even own the coins? Does this mean that if you are, say, a New York based Robinhood cu
by dcposch 6y ago
Wait how does this work. If you can't withdraw then in what sense do you even own the coins?
Does this mean that if you are, say, a New York based Robinhood customer, and you buy Bitcoin, then the only thing you can do with them is sell them later?
- ethbr0 6y agoI guess the analogy would be that you're actually holding a share in a Robinhood trust, the value of which is X bitcoin.
- georgyo 6y agoYes.
- sn_master 6y agoExactly! Robinhood doesn't and never allowed transferring in or out a wallet for any customers anywhere in the US, not just in some states like other exchanges. You can't even sell your coins at another exchange if the price is better there. With Robinhood and the like, you're only speculating on the value of the coin, which is very unhealthy for the market the as more of these 'exchanges' become common.