When you buy bitcoin on Robinhood, you are not actually buying the underlying asset. Instead, you are buying a derivative that tracks the price of bitcoin.
This means that you do not have full control over your investment, and you are subject to the risks associated with derivatives. For example, if the price of bitcoin falls, you could lose money on your investment.
However, there are some advantages to buying bitcoin on Robinhood. First, it is a relatively simple and user-friendly platform.
Second, you do not have to worry about storing or securing your investment, as Robinhood does this for you. Finally, Robinhood charges no fees for buying or selling bitcoin.
Overall, whether or not you actually own bitcoin on Robinhood depends on your investment goals and risk tolerance. If you are comfortable with the risks associated with derivatives and want a simple platform to invest in bitcoin, then Robinhood may be a good option for you.
However, if you want full control over your investment and are willing to pay fees for it, then you may want to consider other options.