Robinhood Ripoff

First, I buy all of my crypto through crypto exchanges, with the exception of Bitcoin. Second, I use Robinhood for Bitcoin because there are allegedly no fees, it’s simple, and it’s relatively safe. Third, I’m not a crypto expert by any means, I know nothing, I love learning from y’all, so please don’t hate, I’m just here to learn. My fragile ego can’t take the hate.

That all said, my main point: Robinhood is ripping us off.

I use Robinhood to buy my Bitcoin. First, robinhood’s pricing is always significantly higher than the actual market price. Second, I noticed that the dollar amount I’m investing, based on the current purchase price, is not directly translating to the amount of Bitcoin purchased.

For example, I just bought $100 of Bitcoin. The price on every other app was around $47,285. Robinhood just priced Bitcoin at $47,462. Ridiculous. AND if I purchased $100 at $47,462.61 (Robinhood’s BS price) then I should have .00210692 BTC. Instead I received .00210673 BTC.

Look, is this really that significant? No. It comes out to about 40 cents on a $100 purchase. Coinbase would charge me 2.99 and other platforms would be around .99. But the deception bothers me.

Curious if anyone has experienced the same? Thoughts on Robinhood (based on experience or fact, let’s try not to insert emotional bashing based on the GME fiasco)? Thoughts in general? What’s your favorite platform for buying crypto and why? Please share your Robinhood experiences—good and bad.