Robinhood

I've been a Bitcoin user for quite some time, but when Robinhood started offering Bitcoin trading, I never looked into it.

As I've been building out this site, Robinhood has caught my attention as I quickly realized:

Robinhood offers some of the lowest fees for Bitcoin & crypto buying, selling and trading.

Before that, though, let's just get a few things out of the way.

Is Robinhood Safe & Trusted?

Robinhood is one of the most popular US exchanges for crypto, stocks, and more. As a regulated broker-dealer overseen by the SEC and FINRA, Robinhood offers several key safety features:

• SIPC insurance coverage up to $500,000 for securities and cash, with additional coverage through Lloyd's of London up to $50 million per customer
• Industry-standard encryption and security measures to protect user data and funds
• Regulated by major US agencies including FinCEN, SEC and FINRA with proper licensing

Now, let's move into the details.

Robinhood Fees

Robinhood offers some of the lowest fees for Bitcoin & crypto buying, selling and trading.

Their fees are just 0.55% for buying Bitcoin and crypto.

We built this fee calculator to help you estimate the fee for any amount of Bitcoin you want to buy:

My Real Life Test

I personally tested buying $100 worth of Bitcoin on Robinhood. Here are the results:

For $100, Robinhood was only charing a $0.55 fee.

Here are the images of the transactions:

Robinhood Has the Lowest Debit Card Fees

Since credit card processing fees are so high, most crypto exchanges charge around 3% minimum for using a debit card.

Robinhood is the exception.

Robinhood earns its profits from when you trade, and therefor they want you to deposit money into your account.

So, they offer a 0% fee for using a debit card.

Here is proof from my Robinhood account:

This means you can buy Bitcoin with a debit card for only 0.55%, which is the lowest I've personally seen.

Support for Bitcoin ETFs

Robinhood currently supports these Bitcoin ETFs:

• iShares Bitcoin Trust (IBIT:NASDAQ)
• Grayscale Bitcoin Trust (GBTC:NYSE)
• Fidelity Wise Origin Bitcoin Fund (FBTC:CBOE)
• ARK 21Shares Bitcoin ETF (ARKB:CBOE)
• Bitwise Bitcoin ETF (BITB:NYSE)
• Grayscale Bitcoin Mini Trust (BTC:NYSE)
• Vaneck Bitcoin Trust (HODL:CBOE)
• Valkyrie Bitcoin Fund (BRRR:NASDAQ)
• Franklin Bitcoin ETF (EZBC:CBOE)
• Invesco Galaxy Bitcoin ETF (BTCO:CBOE)
• WisdomTree Bitcoin Fund (BTCW:CBOE)
• Hashdex Bitcoin ETF (DEFI:NYSE)

Auto-DCA

Robinhood offers Auto-DCA, which is a feature that allows you to automatically buy Bitcoin at a set price.

Key Features

The following are key features of Robinhood. They may or not be available for Bitcoin & crypto:

IRA Match: Robinhood offers a 3% match on IRA contributions for Gold members and 1% for non-Gold members. The match applies to contributions, transfers, and rollovers with no cap.

Robinhood Gold: A premium subscription ($5/month) that includes 4% APY on uninvested cash, larger instant deposits, professional research, Level II market data, and $1,000 interest-free margin.

Robinhood Legend: A browser-based trading platform with customizable layouts, real-time data, advanced charting tools, and multi-watchlist capabilities - available free to all Robinhood users.

Advanced Charting: Professional-grade charting tools with multiple timeframes, drawing tools, and the ability to compare multiple assets on a single chart.

Customizable Alerts: Set price movement notifications for assets you own or watch, with custom thresholds and 52-week high/low alerts.

Fractional Shares: Invest in partial shares of stocks and ETFs with as little as $1, allowing for better portfolio diversification.

High Interest Rate: Earn 4% APY on uninvested cash through the brokerage cash sweep program for Gold members.

Margin Trading: Borrow money to trade with margin, first $1,000 interest-free for Gold members.

Payment for Order Flow (PFOF): Robinhood receives compensation from market makers for routing orders through them, helping keep trading commission-free.

Technical Indicators: Access to various technical analysis tools including moving averages, RSI, MACD and more.

Uninvested Cash: Cash not currently invested in securities earns interest through FDIC-insured program banks in the cash sweep program.

Supported Coins

• Aave (AAVE)
• Avalanche (AVAX)
• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• Cardano (ADA)
• Chainlink (LINK)
• Compound (COMP)
• Dogecoin (DOGE)
• Dogwifhat (WIF)
• Ethereum (ETH)
• Ethereum Classic (ETC)
• Litecoin (LTC)
• Pepecoin (PEPE)
• Shiba Inu (SHIB)
• Solana (SOL)
• Stellar Lumens (XLM)
• Tezos (XTZ)
• Uniswap (UNI)
• USD Coin (USDC)*
• XRP (XRP)

NOTE: Not all coins are available in every state and may be subject to regulatory approval in certain states.

*Not available for trading in New York or Texas

User Reviews

While we could not find Robinhood crypto reviews on traditional review platforms like Capterra, G2, or Trustpilot, we analyzed user feedback from app store reviews. Here are some notable quotes:

"Very easy to use. No problems. Low fees. Attractive interface, and layout is spot on. FDIC insured, so I feel very safe using it. It doesn't have tons of cryptocurrency but it has the cryptocurrencies that I like. To be able to buy and sell crypto on such a safe feeling platform that has such low fees is amazing!!"

"Darn good app! Relatively new to the crypto world, I've tried about 8-9 different wallets and Robinhood has been my favorite so far. Their interface is outstanding; you're able to see Live market data for current crypto prices; you can view returns by total returns or 24 hours, either by dollar amount or percentage. The buying process is instantaneous."

"This app keeps crashing. Either hacked or glitches. Neither are good when dealing with money. Rates for trading crypto are insane and have been charged a higher rate when buying, and when selling, they take a lot as well. I'm not happy with them. Basically, there is no customer service for help."

Common themes from user reviews:

Positives:

• User-friendly interface and attractive design
• Low fees compared to other platforms
• Educational resources for beginners
• Quick and easy buying process
• Good for both crypto and traditional investments

Negatives:

• Limited cryptocurrency selection
• Some users report technical issues and crashes
• Customer service complaints
• Limited charting tools for cryptocurrency