{"id":167249,"date":"2021-01-29T17:25:49","date_gmt":"2021-01-29T14:25:49","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/robinhood-limits-crypto-trading-as-bitcoin-dogecoin-surge\/"},"modified":"2021-09-30T19:10:21","modified_gmt":"2021-09-30T16:10:21","slug":"robinhood-limits-crypto-trading-as-bitcoin-dogecoin-surge","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/robinhood-limits-crypto-trading-as-bitcoin-dogecoin-surge\/","title":{"rendered":"#Robinhood limits crypto trading as Bitcoin, Dogecoin surge"},"content":{"rendered":"

“#Robinhood limits crypto trading as Bitcoin, Dogecoin surge<\/strong>”<\/p>\n

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Robinhood moved to restrict users from hastily buying cryptocurrencies Friday as the prices of two popular digital coins surged.<\/p>\n

In a post on its website<\/a>, Robinhood said it temporarily disabled \u201cInstant Deposits\u201d for cryptocurrency purchases. That means users won\u2019t be able to buy digital currencies with money they add to their accounts until the deposit settles, which could take up to five business days.<\/p>\n

Robinhood imposed the restrictions amid massive rallies in both Bitcoin \u2014 the world\u2019s biggest cryptocurrency \u2014 and Dogecoin, an alternative coin based on an internet meme that started as a joke.<\/p>\n

Dogecoin\u2019s price had spiked by more than 348 percent to roughly 5 cents as of 8:35 a.m. thanks largely to a Reddit<\/a> forum that\u2019s been pumping it up \u2014\u00a0just like a message board has caused Game<\/a>Stop\u2019s stock to explode.<\/p>\n

Bitcoin, meanwhile, was recently up nearly 20 percent at $37,566.14 after Tesla CEO Elon Musk mentioned the cryptocurrency in his bio on Twitter, where his posts are known to move markets.<\/p>\n

\"Dogecoin
Dogecoin started as a joke, but is up to about 5 cents a share as of today.<\/figcaption>
Alamy Stock Photo<\/span><\/figcaption><\/figure>\n

Robinhood did not immediately respond to a request for comment. But a spokesperson for the startup told CNBC<\/a> that it turned off the \u201cinstant buying power\u201d feature for cryptocurrencies \u201cdue to extraordinary market conditions.\u201d<\/p>\n

\u201cCustomers can still use settled funds to buy crypto,\u201d the spokesperson told CNBC. \u201cWe\u2019ll keep monitoring market conditions and communicating with our customers.\u201d<\/p>\n

Dogecoin has become the favored cryptocurrency on Reddit\u2019s \u201cSatoshiStreetBets\u201d message board, a hub for crypto traders named for Bitcoin\u2019s pseudonymous founder, Satoshi Nakamoto.<\/p>\n

Users on the site talked about pushing the price of a single Dogecoin up to $10 \u2014 which would be a massive feat given that it was worth barely more than a nickel even after Friday\u2019s surge.<\/p>\n

<\/figure>\n

Musk added fuel to the fire by tweeting a fake magazine cover<\/a> for \u201cDogue,\u201d a dog-theme<\/a>d sendup of Vogue. The SatoshiStreetBets crowd took that as a sign that Musk supported their efforts to boost Dogecoin\u2019s value.<\/p>\n

\u201cElon heard us,\u201d user AbduMad wrote on the message board on Thursday.<\/p>\n

\"Robinhood
Robinhood users won\u2019t be able to buy digital currencies with money they add to their accounts until a deposit settles, which could take up to five business days.Alamy Stock Photo<\/span><\/figcaption><\/figure>\n<\/div>\n

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If you want to read more News<\/a> articles, you can visit our News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Robinhood limits crypto trading as Bitcoin, Dogecoin surge” Robinhood moved to restrict users from hastily buying cryptocurrencies Friday as the prices of two popular digital coins surged. In a post on its website, Robinhood said it temporarily disabled \u201cInstant Deposits\u201d for cryptocurrency purchases. That means users won\u2019t be able to buy digital currencies with money…<\/p>\n","protected":false},"author":1,"featured_media":167250,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/01\/robinhood-crypto.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"#Robinhood limits crypto trading as Bitcoin, Dogecoin surge","footnotes":""},"categories":[70897],"tags":[91277,76127,70610,73785,71407],"class_list":["post-167249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1-29-21","tag-cryptocurrency","tag-finance","tag-markets","tag-trading"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/167249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=167249"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/167249\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/167250"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=167249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=167249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=167249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}