Yes, you can buy crypto on Robinhood, but only certain coins

Robinhood lets you buy and sell cryptocurrency directly in the same app where you trade stocks and options. You do not need a separate crypto wallet or account — your crypto holdings sit in your Robinhood account just like your stocks do. However, Robinhood does not offer every cryptocurrency. The platform currently supports Bitcoin, Ethereum, Dogecoin, and a rotating list of other coins that changes over time.

When you buy crypto on Robinhood, you own the coins themselves, not a contract or fund that tracks their price. This is different from buying a Bitcoin ETF (exchange-traded fund), which some investors prefer because it stays in a traditional brokerage account. On Robinhood, your crypto is held by the platform, and you can sell it whenever the market is open.

Key Takeaways

  • Robinhood offers Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies, but the full list of available coins varies and changes periodically.
  • You can buy crypto with as little as $1 and trade it during Robinhood's crypto trading hours, which are typically 9 a.m. to 5 p.m. Eastern time on weekdays.
  • Robinhood charges no commission on crypto trades, but the price you pay includes a spread — the difference between what Robinhood pays for the coin and what it charges you.
  • You cannot transfer crypto off Robinhood to an external wallet, so your coins must stay in your Robinhood account.
  • Robinhood crypto holdings are not covered by FDIC insurance, and the platform holds your coins in custody rather than giving you direct control.

How to buy crypto on Robinhood step by step

Open the Robinhood app and tap the search icon at the bottom of the screen. Type the name of the cryptocurrency you want to buy — for example, "Bitcoin" or "Ethereum." If Robinhood offers that coin, it will appear in the search results with a price chart and basic information.

Tap the coin name to open its detail page. You will see the current price, a 24-hour price chart, and a "Buy" button. Tap "Buy," then enter the dollar amount you want to spend. You can buy as little as $1 worth of crypto, and Robinhood will give you a fractional share of the coin. After you enter the amount, review the order and tap "Buy [Coin Name]" to confirm. The transaction usually completes within seconds during market hours.

Your crypto appears in your Robinhood account when ready. You can see your holdings by tapping the "Investing" tab and scrolling to the crypto section, or by searching for the coin again. Your balance updates in real time as the price moves.

Which cryptocurrencies Robinhood offers

Robinhood's crypto list includes the largest and most widely traded coins: Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), Bitcoin Cash (BCH), and Ethereum Classic (ETC). The platform also rotates in smaller coins periodically, and new ones are added based on demand and regulatory considerations.

The exact list changes, so the best way to see what is available is to open the app and search for the coin you want. If it does not appear in search results, Robinhood does not currently offer it. You can request that Robinhood add a specific coin by using the feedback feature in the app, but there is no timeline for when or whether it will be added.

Trading hours and price spreads on Robinhood crypto

Robinhood's crypto market is open Monday through Friday from 9 a.m. to 5 p.m. Eastern time. Outside those hours, you cannot buy or sell crypto on Robinhood, even though cryptocurrency markets themselves trade 24/7. If you place an order outside trading hours, it will wait until the market opens and execute at the opening price.

Robinhood does not charge a commission on crypto trades, but it makes money through the spread — the difference between the wholesale price Robinhood pays for a coin and the price it charges you. This spread varies depending on market conditions and the specific coin. For popular coins like Bitcoin and Ethereum, the spread is usually small (under 1 percent). For less common coins, the spread can be wider. You will see the exact price you will pay before you confirm your order.

Selling crypto and withdrawing money

To sell crypto on Robinhood, search for the coin in the app, tap it, and tap the "Sell" button. Enter the amount you want to sell — you can sell a partial amount or your entire holding. Review the order and tap "Sell [Coin Name]" to confirm. The sale executes when ready during market hours, and the cash goes into your Robinhood cash account.

Once the sale settles (usually within one business day), you can withdraw the money to your linked bank account using the "Transfer" feature in the app. You can also leave the cash in your Robinhood account and use it to buy stocks, options, or crypto again.

What you cannot do with Robinhood crypto

You cannot transfer cryptocurrency off Robinhood to an external wallet or another exchange. This is a major limitation if you want to move your coins to a hardware wallet for long-term storage or to use them on another platform. Your crypto must stay in your Robinhood account, and Robinhood holds it in custody on your behalf.

You also cannot use Robinhood crypto to make purchases or payments. Robinhood's crypto is purely for trading and holding — you cannot spend it at merchants or send it to other people. If you want to use cryptocurrency for transactions, you would need to move it to a different platform, which you cannot do through Robinhood.

Insurance and security for Robinhood crypto

Robinhood's cryptocurrency holdings are not covered by FDIC insurance, which protects cash deposits at banks. Robinhood does carry insurance through third-party providers to protect against theft and hacking, but this coverage has limits and does not protect you against price drops or your own trading mistakes.

Your Robinhood account itself is protected by the same security features as your stock account: two-factor authentication, encrypted passwords, and account monitoring. You should enable two-factor authentication on your Robinhood account if you hold crypto, because it adds an extra layer of protection against unauthorized access.

Frequently Asked Questions

What is the minimum amount I can invest in crypto on Robinhood?

You can buy as little as $1 worth of any cryptocurrency that Robinhood offers. Robinhood allows fractional shares, so you do not have to buy a whole coin. For example, you could spend $100 and own 0.0025 Bitcoin if that is what the price works out to.

Can I buy crypto outside of 9 a.m. to 5 p.m. Eastern time?

No. Robinhood's crypto trading hours are 9 a.m. to 5 p.m. Eastern time, Monday through Friday. If you place an order outside those hours, it will execute when the market opens. Cryptocurrency markets trade 24/7, but Robinhood only allows trading during its set window.

Do I pay taxes on crypto I hold in Robinhood?

You pay taxes only when you sell crypto and realize a gain or loss. Robinhood sends you a tax document (Form 8949) at the end of the year that reports your transactions. Holding crypto without selling does not trigger a tax event. You should consult a tax professional about how your specific trades are taxed.

What happens to my crypto if Robinhood goes out of business?

Your crypto is held in custody by Robinhood, meaning Robinhood holds it on your behalf. If Robinhood were to shut down, your crypto would be returned to you, but the process could take time. Robinhood carries insurance to protect customer assets, but this is not the same as FDIC protection for cash.

Can I use Robinhood crypto to pay for things?

No. Robinhood crypto is for trading and holding only. You cannot spend it at stores, send it to other people, or use it to pay for services. If you want to use cryptocurrency for transactions, you would need to move it to a different platform that supports payments, but Robinhood does not allow transfers out.