Investing Simple Logo
Menu
Get Started on Robinhood With 1 Free Stock!
Robinhood is offering new users 1 free stock worth between $3 and $225 when you open an account and fund it with any amount of money.
Written by Cari Scribner on October 14, 2021
Category: 
FTC Disclosure

What Crypto Does Robinhood Offer In 2021?

Buying and selling crypto has exploded in popularity and shows no signs of slowing down any time soon.

Cryptocurrency is a virtual currency that utilizes cryptography for protection and security. It is used as a means of exchange to buy and sell; however, it exists solely digitally. There is no tangible version of it. This digital money is not regulated by a middleman such as a bank or government. It can be traded securely in peer-to-peer transactions on the Internet.

It is estimated that there are currently over 6,000 cryptocurrencies in existence today! Most investors are aware of the big ones such as Bitcoin or Ethereum. Likewise, many brokerages offer investors the chance to buy and sell these main cryptocurrencies. Other cryptos, such as Dogecoin, Cardano, and Ripple, can be more difficult to trade.

In this article, we take a look at the crypto available for trading on Robinhood. So, what crypto does Robinhood offer? Let's dive in!

What Is Robinhood?

Robinhood is an online trading platform known as the early frontrunner that launched commission-free trading. It opens doors for beginning investors looking to learn about the market, establish a trading strategy and start investing without paying any initial fees.

Robinhood does not charge its members any trading fees whatsoever. There is not a minimum initial account balance, and bank transfers are free. These features make it a great starting point for people looking to start out small and work their way up in the world of investing.

Its creators designed this platform with beginners in mind. It is meant to be one of the simplest trading platforms out there.

Along with traditional stocks, investors on Robinhood can buy and sell cryptocurrency.

What Crypto Does Robinhood Offer?

Robinhood users should be aware that the company's crypto platform is limited.

The following seven cryptocurrencies are currently available for investors to purchase on Robinhood:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Bitcoin SV (BSV)
  • Dogecoin (DOGE)
  • Ethereum Classic (ETC)
  • Litecoin (LTC)

Just as Robinhood does not set minimums on your investments, when you’re trading crypto, you don’t need to buy a whole coin. With the platform’s fractional investing, you can start with as little as $1.

Many crypto exchanges charge up to 4% just to buy and sell coins. Robinhood charges 0%.

Keep in mind that if you buy any cryptocurrencies on Robinhood, those coins must stay on Robinhood. They offer no way to withdraw to another wallet. However, Robinhood crypto wallets are now available for a few! You can join the waitlist to gain access, which would be a huge benefit added to Robinhood crypto members.

Robinhood Crypto Wallet

Is My Robinhood Crypto Insured?

It’s crucial that you understand the lack of safety nets when trading crypto. It is offered through an account with Robinhood Crypto, which is not a member of the Securities Investment Protection Corporation (SIPC). Cryptocurrencies are not stocks and therefore are also not protected by the Federal Deposit Insurance Corporation (FDIC). This is true regardless of the platform that you use.

Crypto On Robinhood: Conclusion

Robinhood is a popular and highly-respected online trading platform with no minimums to launch your account and zero trading fees.

The platform offers a handful of the most popular cryptocurrency, but you will likely find more on other apps.

Buying and selling cryptocurrency is a whole different ball game than trading stocks. Robinhood Crypto is a separate entity from its securities corporation. Therefore, your crypto is not covered by federal or statewide insurance entities the way traditional stocks and cash in trading accounts is insured.

Best Crypto Promotions

ExchangePromotionLink
BlockFi$15 To $250 Free Bitcoin (Deposit Bonus)Download
Trade cryptocurrency with CoinbaseFree $5 Bitcoin Download
robinhood vs m1 finance review. investingsimple.comCommission Free Crypto TradingDownload
Article written by Cari Scribner
Cari Scribner is a career journalist with 20 year’s experience writing for newspapers and magazines. Now a freelance writer, she is also a published fiction writer with more than 15 short stories in literary mags. She recently completed a novel that is on the desk for consideration at two publishing houses. She lives with her two small dogs, Miloh and Lucy, in Upstate NY.

Platform Reviews

Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood
Robinhood provides an easy-to-use free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below.
Try Robinhood
M1 Finance
M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
Try M1 Finance
Fundrise
Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
Try Fundrise
© Copyright 2018 - 2020 Investing Simple LLC. All Rights Reserved. Investing Simple is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. Investing Simple has advertising relationships with some of the offers listed on this website. The information on Investing Simple could be different from what you find when visiting a third-party website. All products are presented without warranty. For more information, please read our full disclaimer.
Developed by Stallion Cognitive
magnifiermenucross-circlechevron-down-circle
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram
Copy link
Powered by Social Snap