Robinhood crypto review
Our verdict
Trade 15 cryptocurrencies with full control on Robinhood Crypto's user-friendly platform.
Robinhood is a solid option for both beginner and intermediate cryptocurrency investors. It charges no commissions to buy or sell crypto, supports 15 coins, eight of which are among the top 20 cryptos by market cap, and offers 24/7 customer support. Invest with as little as 1.
Robinhood doesn’t lend your crypto or leverage against it and most crypto on the platform is held in cold storage. You also have complete control of your crypto, with no fees to transfer your crypto in and out of Robinhood.
For experienced crypto investors, Robinhood’s limited list of tradable coins might not suffice. Robinhood Crypto also isn’t available nationwide. Nevada and Hawaii residents currently don’t have access to Robinhood Crypto.
Pros
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Full control of your crypto. Transfer crypto into and out of your Robinhood Crypto account with no deposit or withdrawal fees.
Details
Product details
| Product Name | Robinhood Crypto |
| Fiat Currencies | USD |
| Cryptocurrencies | BTC, BCH, ETH, LTC, XLM, DOGE, LINK, UNI, XTZ & 27 more |
| Deposit Methods |
Bank transfer Cash Debit card |
| Trading Fee |
Maker: free Taker: free |
Listed Robinhood crypto exchange assets
Robinhood supports over 36 cryptocurrencies, but some notable assets are missing. Namely, Tether, BNB and Lido Staked Ether, which are in the top 20 cryptos by market cap. In total, 13 of the top 20 cryptos are available on Robinhood.
Popular assets on RobinhoodRobinhood deposit methods
- Bank transfer
- Cash
- Debit card
How to sign up on Robinhood exchange
Before you can even get started trading on Robinhood, you have to go through the rigorous verification process (which usually involves providing proof of identification). This can take time. The reason for this is Robinhood's commitment to certifications and compliance with regulations and insurers.
- Get started
After selecting the Get Started button, fill in the create account form. - Set up payment
Before you can start trading, you have to add your bank account to your Robinhood account. There are several options to choose from, so choose the option most compatible. - Provide identification
Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this. - Start trading
After all that is processed, you're ready to trade on Robinhood.
Using the Robinhood app
Buy and sell crypto, explore crypto assets and learn and earn crypto, all from Robinhood's integrated mobile app. The Robinhood Wallet app, a separate self-custody wallet, is also available for you to store and manage your crypto on the Ethereum, Bitcoin, Dogecoin, Polygon, Arbitrum, and Optimism networks.
Keeping your crypto secure
All centralised exchanges, including Robinhood, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $149 |
Price (USD) $49.99 |
See more of the best crypto wallets
Alternatives to Robinhood
Your reviews
Matt Finder
Editor, Investments
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