How To Earn Extra Income On The Robinhood Trading App
Some tips on how to earn more money on Robinhood, passive, income generating for those who don't want to risk it all on today's very volatile market.
There are some cool and nifty features on Robinhood, my favorite so far is the debit card.
You get an instant text message with how much you spend and where. Real time updates.
Super easy to deposit or withdraw money, very user friendly and the favorite or millions of users.
Here we will discuss some of the features everyone should at least try.
1.50% Interest On Uninvested Money
Way higher than your every-day savings account which hardly ever rewards us with more than 0.01%
This interest rate can be raised to 3% with Robinhood Gold, and as of a few days ago there has been a promotion going on where users receive 3.75% interest on their non-invested cash. Can't beat that.
Cash Card, a debit card that is connected to a new spending account separate from users' brokerage account. The Cash Card features round-up investments with a weekly bonus, few fees, early direct deposit, and a split-check feature for recurring investments. I love the "pay with check" feature.
With this card you will have to set aside, thorough the app an amount you want to keep available for spending. Cool and exciting discounts and barely any fees. I found only 1 type of fee.
Your Debit card is connected directly to your non-invested cash (buying power). You can use it as many times as you like without worrying of going over your limit (overdraft) because they simply deny the transaction if there aren't enough funds.
Setting up your Robinhood account for lending stocks might also give you a boost on all the money you earn through your account. You can sell your shares at any given time, lending doesn't affect when and how much you can sell the shares for. Your shares value are still tied to the market despite being on loan.
Most people know of dividends, that is when a company shares some of its profits in the way of dividends. This happens usually every quarter and one company we can refer who is outstanding in its track history of paying out dividends is Coca Cola. Stock growth might not be very volatile, but their dividends never fail.
I'm sure we are missing more ways to earn somewhat passive income from Robinhood, feel free to contact us at Carl.firstname.lastname@example.org and share your knowledge with us.