Fuck You Robinhood
Fuck You Robinhood!
Use crypto and keep your funds safe in a wallet.
Fuck Robinhood for what they did to Gamestop and all the Wallstreetbets Reddit traders.
Robinhood ruined the stock market. I had already given up on Robinhood months before the Gamestop debacle. I have used proper trading accounts with major companies over the past 3 decades. I have become spoiled and I expect to be able to safely execute market orders. I also expect my limit orders to get filled when the stock crosses the strike price. Robinhood wouldn't execute a limit order unless it was slightly in the money.
Robinhood was not able to deliver on the basics of market orders or limit orders. I didn't care if it was free. I was willing to pay to have my trades executed properly.
The service was the worst I had ever tried. I quickly gave up and went back to my usual trading accounts. I saw Gamestop shooting up. I like video games. I like Reddit. It seemed like the ultimate way to stick it to the big hedge funds. Instead of letting the stock go to the moon on a short squeeze that would have possibly ruined the financial markets, the big banks stopped people from buying the stock. That really sucked. My dreams of getting rich in a day were broken.
I had some options and shares at the time. I thought I knew my risks. I never considered that major trading companies would restrict trading on GME. It went down in a furry. It is bouncing up and down now in extreme volatility but I will never trust the stock market again as much as I did in the past. There is no easy way to get rich in the stock market. The odds are stacked against you and you don't even know it. Your brokerage account can be seized by the government and you can have your safe deposit box made off limits by your exwife. There are a lot of risks in the traditional financial system that have been fixed in the new Defi system. Losing a custodian that can help you when you loose your crypto is by far the biggest risk for most people.
How many times have you had your bank reset your password for your debit card? You can still do that if you trade on an exchange like Coinbase or Kraken. If you are holding your funds in a wallet and you lose access to your wallet, there is no one to call and no one to help you. It is a very scary transition but one that is now necessary after seeing how big money can manipulate your ability to buy and sell securities.
Big money can't stop you from trading Ethereum into Shiba Inu if you use Uniswap and wallet for your transaction. If you believe in freedom and a world where every human being has access to money, then you might like crypto and you can say fuck off to Robinhood.