Robinhood Crypto is a mobile app to buy and sell cryptocurrency with commission-free trading. Are you looking to diversify your investment portfolio with cryptos?
What is Robinhood Crypto?
Buy and sell cryptocurrencies commission-free on Robinhood Crypto. Other cryptocurrency exchanges charge up to 4% to buy and sell crypto. The Robinhood Crypto trading platform gives you zero transaction fees, security features, and interactive tools.
Robinhood Financial offers a brokerage service to trade stocks, exchange-traded funds (ETFs), and options. Recently, the company launched its cryptocurrency trading platform with zero trading fees.
What is Cryptocurrency?
As defined by Robinhood: “Cryptocurrency is a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but it does not have legal tender status.”
How does Robinhood Crypto work?
Robinhood Crypto offers the same intuitive and user-friendly mobile app for its cryptocurrency exchange. Through the app, you can:
- Buy and sell a variety of cryptocurrencies like bitcoin, ethereum, dogecoin, litecoin, bitcoin cash, bitcoin SV, and ethereum classic.
- Have ownership over your coins
It’s vital to understand crypto trading involves a substantial risk of loss. It’s not a suitable investment for every person. As a result of crypto market volatility, you may lose all of your original investments.
Features & Benefits
Robinhood Crypto can help you invest in cryptocurrencies and diversify your investment portfolio.
- Trading: buy, sell, or exchange various crypto coins
- Fractional Shares: buy fractions of cryptos with as little as $1
- No-commission fees: similar to its stock trading fees, there are no trading fees for cryptos
- Instant deposits: with Robinhood Instant, you can access funds up to $1,000 to trade cryptos
- Wallet: coins stored in a mix of cold wallets and hot wallets
SIPC does not protect cryptocurrency investments through Robinhood Crypto. Robinhood Crypto is not a member of FINRA or SIPC.
- Be 18 years or older.
- Social security number.
- Legal US residential address.
- US Citizen, permanent resident, or have a valid US visa.
- Zero commission fees.
- No minimum requirements.
Who is it best for?
The Robinhood Crypto exchange is best for beginner investors in the crypto space.
Robinhood Crypto Review
In our Robinhood Crypto review, we learned it’s as easy to trade crypto coins as it is for stock trades on the stock investment platform. With a user-friendly interface, the app reaches a broader range of users. We like the simple fee structure – no trading fees. It’s a good beginner choice for investors looking to make their first entry into crypto trades.
Robinhood Crypto lacks a crypto wallet and provides no investment advice.
Robinhood Crypto is a legit company and not a scam. Although Robinhood has not been seen favorably in media, it currently has a 20 million active user base.
- Place limit orders
- Fractional shares of cryptocurrencies
- Simple fee structure – $0 trading fees
- 24/7 customer service is available via live phone support.
- Unable to move your crypto unless sold
- No digital wallet
- You can’t buy crypto with a credit or debit card
You must have a Robinhood brokerage account to access cryptocurrencies. With Robinhood, you can trade stocks, exchange-traded funds (a type of mutual funds), IPO Access, and trade fractional shares, automate investing, and opt to reinvest dividends.
The company also provides a cash management product to spend and earn on your swept cash. The parent company, Robinhood Markets Inc, is a publicly traded company with the stock symbol $HOOD.
How to Start a Robinhood Crypto Account
The time needed: 3 minutes.
Step-by-step to start crypto trading
- Get started
- Create an account by clicking on the link here.
- Or, if you’re an existing Robinhood user, go directly to the app.
- Submit an application
- Legal first and last name, email address, residential address
- Wait for approval
- Additional documents may be requested for identity verification. All instructions will be made available to you.