Are there any specific terms or terminology I should be familiar with when reading a Robinhood statement for my digital currency holdings?

1 answers

• Jonathan VasquezNov 18, 2022 · 3 years ago
  Absolutely! When you're reading a Robinhood statement for your digital currency holdings, there are specific terms and terminology that you should be aware of. Some important terms include: 1. Balance: This is the total value of your digital currency holdings in your Robinhood account. 2. Buying Power: It refers to the amount of funds available for you to purchase additional digital currencies. 3. Cost Basis: This is the original purchase price of your digital currencies. 4. Unrealized Gain/Loss: This represents the potential profit or loss on your digital currency holdings, calculated based on the current market value compared to the cost basis. It's crucial to understand these terms to accurately interpret your Robinhood statement and make informed decisions about your digital currency holdings.
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